Coherent

Coherent has received an unsolicited acquisition bid from II-VI that is superior to the $5.7 billion offer from Lumentum.

Lumentum Holdings Inc. has entered into a definitive agreement to acquire Coherent, Inc. in a cash and stock transaction valued at $5.7 billion, uniting their photonics and laser businesses.

Coherent announced a letter of intent to receive up to $50 million in CHIPS Act funding to expand its 6-inch Indium Phosphide semiconductor manufacturing facility in Sherman, Texas. The expansion will double manufacturing space and quadruple wafer production capacity, creating over 1,000 jobs.