SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation into the Fairness of the Sale of Coherent, Inc. to Lumentum Holdings Inc.
New York, New York--(Newsfile Corp. - February 23, 2021) - The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased Coherent, Inc. ("Coherent" or the "Company") (NASDAQ: COHR) stock prior to February 8, 2021.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Coherent to Lumentum Holdings Inc. ("Lumentum"). Under the terms of the merger agreement, Coherent stockholders will receive $100.00 per share in cash and 1.1851 shares of Lumentum common stock for each Coherent share they own.
The Coherent merger investigation concerns whether the Board of Coherent has breached its fiduciary duties in connection with the Lumentum deal. In particular, on February 8, 2021, Coherent announced that it had received an unsolicited cash-and-stock buyout bid from MKS Instruments Inc. that would value the laser technology company at about $5.78 billion. Market observers noted that this bid from MKS offers roughly 16% greater value than the Lumentum deal. Then, on February 12, 2021, II-VI Incorporated submitted yet another topping bid, offering $130.00 in cash and 1.3055 II-VI common shares for each Coherent share. Based on the February 12 closing price of II-VI shares, that proposal was valued at $260.00 per Coherent share. Nevertheless, despite these offers' facially higher values, the Coherent Board has still not terminated the Lumentum transaction, or even recognized either of the topping bids as a superior offer.
To learn more about the action and your rights, go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500. There is no cost or obligation to you.
Levi & Korsinsky is a nationally recognized firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
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