28 June 2022
II-VI Inc obtains China anti-trust clearance for Coherent acquisition
Engineered materials and optoelectronic component maker II-VI Inc of Saxonburg, PA, USA has obtained anti-trust clearance from the State Administration for Market Regulation of the People’s Republic of China (SAMR) for its pending acquisition of Coherent Inc of Santa Clara, CA (which provides lasers and laser-based technology for scientific, commercial and industrial applications).
The clearance decision from SAMR satisfies the closing condition set forth in the merger agreement (announced in late March) regarding the receipt of anti-trust approvals. II-VI expects the closing of the acquisition to occur on or about 1 July.
Under the terms of merger agreement, each share of Coherent common stock will be converted into the right to receive $220 in cash and 0.91 of a share of II-VI common stock upon the completion of the transaction.