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Electronic-Components Maker II-VI Bids $260 a Share for Coherent

Electronic-Components Maker II-VI Bids $260 a Share for Coherent

Electronic-components maker II-VI Inc. made a roughly $6.5 billion bid for Coherent Inc., setting up a seldom-seen, three-way takeover battle for the

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Electronic-components maker II-VI Inc. made a roughly $6.5 billion bid for Coherent Inc., setting up a seldom-seen, three-way takeover battle for the laser maker.

II-VI said Friday it offered $260 a share for Coherent, comprising $130 in cash and 1.3055 II-VI shares for each Coherent share.

The Wall Street Journal reported II-VI’s plans earlier Friday.

Coherent already agreed to sell itself to San Jose, Calif.-based Lumentum Holdings Inc. for about $226 a share before MKS Instruments Inc. last week made a roughly $240-a-share offer of its own.

Santa Clara, Calif.-based Coherent makes lasers and related products used in medical and scientific equipment, industrial applications and semiconductor manufacturing. Lumentum, MKS and II-VI make similar products.

This post first appeared on wsj.com

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