Optical components maker II-VI Inc raised its bid for laser maker Coherent to $7 billion, edging higher than the rival offer from Apple supplier Lumentum Holdings.
According to Reuters, Coherent supplies laser-based equipment used in making organic light-emitting diode displays, which are used in smartphones and high-end televisions.
Coherent was put into play after Lumentum, a supplier of 3D sensors, offered $5.7 billion for the company in January, triggering rival bids from MKS Instruments Inc and II-VI Inc last month. Since then Lumentum and II-VI have been caught up in a fierce bidding war.
