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II-VI意欲收购相干公司，谁将是最后赢家？

光电汇OESHOW

2021-02-13

导读：Lumentum、MKS、II-VI，还会有下一家吗？

昨天，II-VI总裁Walter R. Bashaw II向该公司的全体员工发了一封信件，意欲收购全球激光技术领先者Coherent。信件显示，II-VI花费了大量时间和资源来分析Coherent，包括其运营和财务业绩。经过II-VI的审查，II-VI和Coherent之间的交易，将为II-VI带来显著利益。以下为信件全文。

亲爱的所有II-VI员工：

我很高兴地报告，我们今天早上宣布，II-VI已经提出要约，要收购全球激光技术领先者Coherent, Inc.。我们要约的详细信息可以在我们今天上午发布的新闻稿中找到。我想与您分享此新闻并提供一些背景信息。

如您所知，我们会定期与II-VI董事会一起查看市场机会，包括战略性增值收购，这将使我们能够进一步扩展规模并实现业务多元化。我们花费了大量时间和资源来分析Coherent，包括其运营和财务业绩。经过我们的审查，我们相信II-VI和Coherent之间的交易，将为公司和包括您在内的我们各自的利益相关者带来显著利益。

与Coherent的结合将使II-VI不仅在光学解决方案和化合物半导体方面，而且在我们未来的激光技术和系统方面，都将成为独特的战略性全球领导者。我们将有显著和多样化的机会来通过互补的技术平台来加速我们的增长，通过利用我们在整个价值链中的合并规模来提高我们的竞争力，展示出更深的市场情报和专业知识，并进一步使我们的业务和收入来源多样化。

重要的是要了解，今天的公告只是第一步。如您所见，上个月Lumentum和Coherent宣布了它们达成合并协议，而在本周初，MKS Instruments宣布了一项有竞争力的要约，要收购Coherent。我们相信II-VI和Coherent是理想的组合，这将帮助我们应对未来数十年的大趋势，这就是为什么我们提出我们认为的诱人报价来购买Coherent的原因。说完这些，无论这一过程的结果如何，正如我们最近从第二季度强劲的收入结果所看到的那样，II-VI现在表现异常出色。

在接下来的步骤中，我们预计Coherent将审查我们的要约并与我们讨论，我们希望这些对话能最终变成交易协议。在此期间，II-VI仍然照常营业。我预计我们的报价新闻会引起媒体和投资者的兴趣。如果有人询问您，请不要发表评论，而直接将其转发给Corporate Communications，其邮箱为：corporate.communications@ii-vi.com。

考虑到这一可能交易会为II-VI和我们所有利益相关者带来的好处，令我兴奋不已，希望您能与我一起分享我的兴奋。如往常一样，我对您每天的出色工作深表感谢，感谢大家对我们公司的卓越贡献。

此致，

Walter R. Bashaw II

总裁

Forward-looking Statements

This communication contains forward-looking statements relating to future events and expectations that are based on certain assumptions and contingencies. The forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and relate to the Company’s performance on a going-forward basis. The forward-looking statements in this communication involve risks and uncertainties, which could cause actual results, performance or trends to differ materially from those expressed in the forward-looking statements herein or in previous disclosures.

The Company believes that all forward-looking statements made by it in this release have a reasonable basis, but there can be no assurance that management’s expectations, beliefs or projections as expressed in the forward-looking statements will actually occur or prove to be correct. In addition to general industry and global economic conditions, factors that could cause actual results to differ materially from those discussed in the forward-looking statements in this communication include, but are not limited to: (i) the failure of any one or more of the assumptions stated above to prove to be correct; (ii) the risks relating to forward-looking statements and other “Risk Factors” discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2020; (iii) the purchasing patterns of customers and end-users; (iv) the timely release of new products, and acceptance of such new products by the market; (v) the introduction of new products by competitors and other competitive responses; (vi) the Company’s ability to integrate recently acquired businesses and realize synergies, cost savings and opportunities for growth in connection therewith, together with the risks, costs and uncertainties associated with such acquisitions and integration efforts; (vii) the Company’s ability to devise and execute strategies to respond to market conditions; (viii) the risks of business and economic disruption related to the currently ongoing COVID-19 outbreak and any other worldwide health epidemics and outbreaks that may arise; (ix) the outcome of any discussions between the Company and Coherent (“Coherent”) with respect to a possible transaction, including the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any transaction will be materially different from those described herein; (x) the conditions to the completion of the proposed transaction, including the receipt of any required stockholder and regulatory approvals; (xi) the Company’s ability to finance the proposed transaction with Coherent and the substantial indebtedness the Company expects to incur in connection with the proposed transaction, and the need to generate sufficient cash flows to service and repay such debt; (xii) the possibility that the Company may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate Coherent’s operations with those of the Company; and (xiii) the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the proposed transaction. The Company disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events or developments, or otherwise.

No Offer or Solicitation

This document shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Additional Information and Where to Find It

This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. This communication relates to a proposal that II-VI has made for a business combination transaction with Coherent. In furtherance of this proposal and subject to future developments, II-VI (and, if a negotiated transaction is agreed to, Coherent) may file one or more registration statements, proxy statements, tender offer statements or other documents with the SEC. This communication is not a substitute for any proxy statement, registration statement, tender offer statement, prospectus or other document II-VI and/or Coherent may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF II-VI AND COHERENT ARE URGED TO READ THE PROXY STATEMENT(S), REGISTRATION STATEMENT, TENDER OFFER STATEMENT, PROSPECTUS AND/OR OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Any definitive proxy statement(s) or prospectus(es) (if and when available) will be mailed to stockholders of II-VI and/or Coherent, as applicable. Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by II-VI through the web site maintained by the SEC at www.sec.gov, and by visiting II-VI’s investor relations site at https://ii-vi.com/investor-relations/.

Participants in the Solicitation

This communication is neither a solicitation of a proxy nor a substitute for any proxy statement or other filings that may be made with the SEC. Nonetheless, II-VI and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. You can find information about II-VI’s executive officers and directors in II-VI’s proxy statement for its 2020 annual meeting, which was filed with the SEC on September 29, 2020 and in II-VI’s Annual Report on Form 10-K for the fiscal year ended June 30, 2020, which was filed with the SEC on August 26, 2020. Additional information regarding the interests of such potential participants will be included in one or more registration statements, proxy statements, tender offer statements or other documents filed with the SEC if and when they become available. These documents (if and when available) may be obtained free of charge from the SEC's website www.sec.gov, and by visiting II-VI’s investor relations site at https://ii-vi.com/investor-relations/.

现在的Coherent可谓是“香饽饽”，1月19日，Coherent便与Lumentum达成交易协议：Lumentum将以价值57亿美元的现金和股票交易方式收购Coherent；美东时间2月8日上午，美国Coherent公司宣布收到MKS Instruments公司主动提出的收购议案，报价比Lumentum交易的隐含价值高出16％；昨天，II-VI又发布此消息。还会有下一家公司抢购吗？Coherent最后会选择谁？让我们拭目以待！

来源：高意集团、光电汇