Coherent Stock Surges Again as II-VI Offers Buyout at $260 Per Share

Coherent (NASDAQ: COHR) stock surged yet again on Friday as components manufacturer II-VI (NASDAQ: IIVI) entered the bidding war to acquire the industrial laser specialist, according to a report published by The Wall Street Journal. II-VI has stepped in and is offering to buy the company at a price of $260 per share -- a deal that would value the laser maker at roughly $6.4 billion.

Coherent stock gained roughly 14% on the day and closed out the session at roughly $258 per share, or just shy of the latest acquisition bid. II-VI is now the third company to attempt to purchase the laser specialist in less than a month.

Image source: Getty Images.

Continue reading

Source Fool.com