Law360 (March 8, 2021, 6:39 p.m. EST) – Laser instruments and methods developer Coherent Inc. stated in regulatory paperwork Monday that it was terminating its $ 5.7 billion deal beforehand introduced by Lumentum Holdings Inc. in favor of a competing proposal from II-VI Inc. valued at $ 6.5 billion.

In a separate assertion, Lumentum, an optical and laser networking firm guided by Wilson Sonsini, stated Coherent, led by Skadden, had till March 11 to reply with a greater provide than that provided by II-VI, and added that underneath the phrases of their Jan. 18 settlement, Coherent would pay a $ 217.6 million breach price.

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