Lumentum gets China approval for NeoPhotonics deal, will close on Wednesday

Jul. 29, 2022 1:10 PM ETLumentum Holdings Inc. (LITE)MKSIBy: Joshua Fineman, SA News Editor1 Comment

Curved sensor for digital camera, prototype 3D rendering, stacked: matrix, magnetic bender, memory, processor

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  • Lumentum (NASDAQ:LITE) said it received China antitrust approval for its planned acquisition of NeoPhotonics (NYSE:NPTN). NeoPhotonics was earlier halted for news pending. Lumentum gained 1.7%.
  • Lumentum (LITE) currently expects that the NeoPhotonics acquisition will close on or around Wednesday, according to a statement.
  • Lumentum (LITE) agreed to buy NeoPhotonics (NPTN) for more than $900M, or $16/share in cash, in early November. The deal came amid a flurry of M&A activity in the optical sensor market. I-VI (IIVI) beat out Lumentum (LITE) last year in a bid for Coherent.
  • China's approval for the NeoPhotonics (NPTN) deal comes after the antitrust regulator approved MKS Instruments (MKSI) planned purchase of Atotech (ATC) on Thursday. The deal is expected to close Aug. 17.

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