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Benzinga

Business

Avi Kapoor

HISTORICAL FACTS: These analysts revise their forecasts on coherent | History Defined

Coherent

Coherent Corp. (NYSE:COHR) announced the sale of its aerospace and defense business for $400 million and released its fourth-quarter results after Wednesday’s closing bell.

Coherent said it will sell its aerospace and defense business to private equity firm Advent for $400 million. The company added that proceeds from the sale will be used to reduce debt, which will be immediately accretive to Coherent's EPS.

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