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Lumentum to buy Coherent

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Optical components manufacturer Lumentum Holdings Inc. agreed to buy laser maker Coherent Inc. in a $5.7 billion deal.

Coherent's market value was $3.7 billion as of last week's close. Lumentum's was $8 billion.

The companies' products are utilized in laser eye surgery and semiconductor manufacturing, among other uses.

Read more from The Wall Street Journal.

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