PITTSBURGH SANTA CLARA, CALIF., July 1, 2022 (GLOBE NEWSWIRE) - II‐VI Incorporated (Nasdaq: IIVI) today successfully completed acquisition Coherent, (Nasdaq: COHR), forming global leader materials, networking, lasers. the terms the merger agreement, share Coherent common stock converted the to receive $220.00 cash 0.91 a .
Under terms the merger agreement, share Coherent common stock converted the to receive $220.00 cash 0.91 a share II-VI common stock.
Coherent founded II-VI Incorporated 1971 Carl Johnson James Hawkey. [5] [6] name "II-VI" a reference the groups II VI the periodic table, the company started business producing cadmium telluride (cadmium belongs group II tellurium belongs group VI). [7]The company's products included lenses, windows, mirrors CO 2 lasers.
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$250 million annual cost synergies expected be realized 36 months closingAnticipated be accretive Non-GAAP EPS second year.
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