March 16, 2016
I am writing to let you know that today we announced a definitive agreement for Coherent to acquire ROFIN for $32.50 per share in cash. You can read more about this announcement in the press release we issued today at www.coherent.com/AcquiresRofin.
With dual headquarters in Plymouth, Michigan and Hamburg, Germany, ROFIN has approximately 2,200 employees and is a leading developer and manufacturer of high-performance industrial laser sources and laser-based solutions and components. Among the many innovative solutions it delivers to its global customer base, ROFIN’s portfolio includes CO2 lasers, solid-state lasers, fiber lasers, diode lasers and an extensive range of pulsed laser products.
We are excited about this combination because we believe it will benefit all stakeholders, especially you, our valued customers. Combining these complementary businesses represents a unique opportunity to strengthen Coherent’s position in materials processing. We know that every day you’re participating in some of the most demanding markets out there, and together with ROFIN, we will be even better positioned to meet your evolving needs.
As we work toward completing this transaction, it remains business as usual for us at Coherent. You can rest assured that you will continue to receive the same excellent service and innovative products that you have come to expect from us. One of the main questions customers ask with respect to a merger is if they will have ongoing support for their installed products after the merger closes. Coherent has a strong track record in this area and we envision providing ongoing support for installed products whether they were purchased from Coherent or ROFIN.
The transaction is expected to close within six to nine months, subject to approval by ROFIN stockholders, regulatory approvals in the U.S. and other countries, and other customary closing conditions. Until then, we remain separate companies.
We greatly appreciate your support and look forward to continuing to serve you for many years to come. If you have questions about this announcement, please contact your regular Coherent representative.
John R. Ambroseo
President and Chief Executive Officer