II-VI Incorporated Maintains its Current Proposal for Coherent
Believes Current Proposal Remains Superior
PITTSBURGH, March 24, 2021 (GLOBE NEWSWIRE) II-VI Incorporated (Nasdaq: IIVI), a global leader in
engineered materials and optoelectronic components, today announced that it has notified Coherent, Inc.s (Nasdaq: COHR) Board of Directors that II-VI is maintaining its current proposal to acquire
Coherent, which will expire at Noon Pacific Time on Thursday, March 25, 2021. II-VI believes its proposal would create significant value for the shareholders of both companies and remains superior to
Lumentums latest proposal.
Under the terms of the II-VI proposal, Coherents shareholders would
receive $220.00 in cash and 0.91 of a share of II-VI common stock for each Coherent share, which implies a total per share value of $287.18 based on the 10-day volume
weighted average price (VWAP) of II-VI common stock for the period ending March 16, 2021, the day prior to the date II-VI submitted its current proposal.
About II-VI Incorporated
II-VI Incorporated, a global leader in engineered materials and optoelectronic components, is a vertically integrated
manufacturing company that develops innovative products for diversified applications in communications, materials processing, aerospace & defense, semiconductor capital equipment, life sciences, consumer electronics, and automotive markets.
Headquartered in Saxonburg, Pennsylvania, the Company has research and development, manufacturing, sales, service, and distribution facilities worldwide. The Company produces a wide variety of application-specific photonic and electronic materials
and components, and deploys them in various forms, including integrated with advanced software to support our customers. For more information, please visit us at www.ii-vi.com.
Forward-Looking Statements
This
press release contains forward-looking statements relating to future events and expectations that are based on certain assumptions and contingencies. The forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995 and relate to the Companys performance on a going-forward basis. The forward-looking statements in this press release involve risks and uncertainties, which could cause actual results, performance or
trends to differ materially from those expressed in the forward-looking statements herein or in previous disclosures.
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T. 724.352.4455 | ii-vi.com
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