Coherent and ROFIN-SINAR Technologies deal unanimously approved
Talk during the early stages of merger or acquisition negations deal with cash versus equity, how the plan will play out and what each company seeks to gain through this course of action. Merging companies both want to benefit from the best possible outcome, and seek unanimous approval from each of their respective boards of directors to facilitate this.
Coherent, Inc., a leading worldwide laser-based technology provider,recently announced its definitive agreement to purchase ROFIN-SINAR Technologies, Inc., a developer and manufacturer of industrial laser components and solutions, for $942 million. Both companies' boards of directors unanimously approved the deal, where Coherent will buyout ROFIN-SINAR's shares at a $32.50 value.
This deal will close within the next nine months, should both companies continue to meet all closing demands. Peter Wirth, the chairman of ROFIN's board of directors, announced that both companies offer technologies and boast complementing working cultures, which will greatly benefit the coming transitional process.
"This transaction is aligned with our strategy of increasing our scale and pursuing accretive growth opportunities," John Ambroseo, Coherent's president and chief executive officer, explained. "The combination of Coherent and ROFIN represents a unique opportunity to strengthen Coherent's position in materials processing. The addition of ROFIN's complementary portfolio will build on Coherent's capabilities as a world leader in laser and photonics-based technology and solutions and create meaningful value for our stockholders."
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