NeoPhotonics stock climbs as Dealreporter speculates potential sale

• Dealreporter speculates that Lumentum (NASDAQ:LITE) could shift its M&A interest to NeoPhotonics (NYSE:NPTN) after losing out on its Coherent bid.
• The publication notes that NPTN recently appointed AotarGroup exec Kimberly Chainey to its board. Chainey previously served as general counsel for global M&A at Avis Budget, and NPTN could be asking for regulatory and deal advice.
• NeoPhotonics also filed a new 8-K updating the retention agreement for SVP of global sales Yang Chiah Yee, which now provides Yee with the full targeted annual bonus if there's a termination tied to a change in control.
• NPTN shares are up 4.9%. LITE shares are up 1.1%.
• NeoPhotonics appointed Chainey to the board earlier this week.