Coherent announced that Lumentum Holdings, which is looking to buy it, has raised its offer to $ 6.9 billion.
Coherent is one of the world’s oldest companies specializing in the design and manufacture of lasers for scientific, medical and industrial equipment. Lumentum deals with optical components and photonics.
In January, Coherent agreed to a deal with Lumentum. The then announced $ 5.7 billion attracted other bidders looking to increase their market share, which is expected to benefit from the growing adoption of 5G and demand for consumer electronics.
Last month, MKS Instruments made a $ 6 billion bid, after which the II-VI optical component maker outbid the offer with a $ 6.4 billion bid. Lumentum and II-VI clashed in the fray, making at least two more counter offers, each accompanied by an increase in rates. It is still unknown how the auction will end.
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