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Zapped

17 March 2021 By Robert Cyran

Lumentum raised its offer for laser-maker Coherent to $6.9 bln, edging ahead of two rival bidders. All look to be overpaying – in Lumentum’s case by around $1 bln. Its shares have fallen as a result. Recovering some of that lost market value wouldn’t be a bad consolation prize.

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