Coherent Corp. in its sale of a 25% non-controlling interest in its Silicon Carbide business to Denso Corporation and Mitsubishi Electric Corporation at a $4 billion post-investment valuation

On October 10, 2023, Coherent Corp. (NYSE: COHR), a global leader in materials, networking, and lasers, announced that Denso Corporation and Mitsubishi Electric Corporation have agreed to invest an aggregate $1 billion in its Silicon Carbide business in exchange for a 25% non-controlling interest in the Silicon Carbide business.  Under the terms of the transaction, Denso and Mitsubishi Electric will each invest $500 million in exchange for a 12.5% interest in the Silicon Carbide business, with Coherent owning the remaining 75%.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Coherent.