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Lumentum makes new $6.9 billion offer to buy Coherent

By Reuters Staff
2 Min Read
(Reuters) - Coherent Inc said on Wednesday optical fiber firm Lumentum Holdings Inc had raised its offer for the company to $6.9 billion following a three-way takeover battle for the laser firm.
Under its new bid, Coherent shareholders will receive $220 in cash and 0.61 Lumentum shares for each share held.
Coherent agreed to a $5.7 billion deal with Lumentum in January, attracting other bidders looking to grow their share of a market set to benefit from the rising adoption of 5G and consumer electronics.
The Wall Street Journal reported late on Wednesday that optical components maker II-VI Inc submitted a new takeover offer for Coherent worth roughly $7 billion, or around $285 a share. ....

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Canada asks court to dismiss two of Huawei CFO Meng's arguments in extradition case

2 Min Read
FILE PHOTO: Huawei Technologies Chief Financial Officer Meng Wanzhou leaves court on a lunch break in Vancouver, British Columbia, Canada March 15, 2021. REUTERS/Jennifer Gauthier/File Photo
VANCOUVER (Reuters) - Canada has called for two of Huawei Chief Financial Officer Meng Wanzhou’s main arguments in her fight against U.S. extradition to be dismissed, saying her claims are not backed with evidence and one issue has been ruled on, court documents released on Tuesday showed.
Meng, 49, was arrested at Vancouver International Airport in December 2018 on a warrant from the United States, where she faces charges of bank fraud for allegedly misleading HSBC about Huawei’s business dealings in Iran, causing the bank to break U.S. sanctions. ....

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U.S. subpoenas Chinese communications firms in probe of national security risks

By Reuters Staff
3 Min Read
WASHINGTON (Reuters) - The U.S. Commerce Department said on Wednesday that it has served subpoenas on multiple Chinese companies that provide information and communications technology services in the United States to see if they pose a national security risk.
FILE PHOTO: Gina Raimondo, U.S. President-elect Joe Biden s nominee to be secretary of Commerce, speaks during an event to announce members of Biden s economics and jobs team at his transition headquarters in Wilmington, Delaware, U.S., January 8, 2021. REUTERS/Kevin Lamarque/
“Beijing has engaged in conduct that blunts our technological edge and threatens our alliances,” Commerce Secretary Gina Raimondo said in statement. ....

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UPDATE 1-Sales of China's semiconductor industry up 17.8% y/y in 2020 -industry body

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SHANGHAI (Reuters) - The world is going through an unprecedented chip shortage, Zhou Zixue, a senior official with the China Semiconductor Industry Association, said on Wednesday, after semiconductor sales grew 18% last year.
“If you are an experienced player, you will remember that in 1999 there was a similar crisis in this industry, but it was way smaller,” Zhou, chairman of Semiconductor Manufacturing International Corp (SMIC), said in remarks at SEMICON China.
“We have to deepen our cooperation, we have to give more attention to innovation. Only by doing that our industry can control the challenges facing us.”
China is the world’s largest buyer of semiconductors, but domestic production is marginal. Sales in China grew 17.8% in 2020 from a year earlier to 891 billion yuan ($137 billion), according to CSIA. ....

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U.S. subpoenas Chinese communications firms in search of national security risks

By Reuters Staff
3 Min Read
WASHINGTON (Reuters) - The U.S. Commerce Department said on Wednesday that it has served subpoenas on multiple Chinese companies that provide information and communications technology services in the United States to see if they pose a national security risk.
FILE PHOTO: Gina Raimondo, U.S. President-elect Joe Biden s nominee to be secretary of Commerce, speaks during an event to announce members of Biden s economics and jobs team at his transition headquarters in Wilmington, Delaware, U.S., January 8, 2021. REUTERS/Kevin Lamarque/
“Beijing has engaged in conduct that blunts our technological edge and threatens our alliances,” Commerce Secretary Gina Raimondo said in statement. ....

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