Saxonburg based II-VI has acquired a west coast laser-company named Coherent in a deal valued just shy of $7 billion.
II-VI had competed in a bid for Coherent along with two other companies, but ultimately won out.
Their winning bid will exchange each Coherent share for $220 in cash and .91 shares of II-VI—which adds up to a $6.9 billion deal.
II-VI leaders say this move will “increase their collective exposure to irreversible megatrends for decades to come.”
