MKSI - Wouldn't be surprised to see Lumentum forced to raise its Coherent bid Stifel says

It wouldn't be a surprise if Lumentum (LITE) is forced to raise its bid for Coherent (COHR) after MKS Instrument's (MKSI) rival offer, according to  Stifel.Both offers for Coherent are at a "healthy premium" given that Coherent's business is likely to "remain in transition" in CY2021, according to Stifel analyst John Marchetti.Coherent will likely be subject to a deal break up fee of about $218m if it ends the Lumentum deal, though the analyst expects that COHR management and board will give "serious consideration" to MKSI's offer.Stifel rates Coherent a hold, PT  $216.Separately, Wells Fargo writes that while the MKSI announcement is surprising, a potential deal is "inline" with MKS’ inorganic growth strategy to expand its Advanced Markets business.Wells Fargo expects that investors will be focused on Lumentum's comments about regulatory approval for a deal.MKSI is dropping 6.2%.Earlier, Lumentum will say MKSI offer for Coherent will have antitrust issues, CNBC saysEarlier,

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Wouldn't be surprised to see Lumentum forced to raise its Coherent bid, Stifel says