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Benzinga

Business

Nabaparna Bhattacharya

What's Going On With Coherent Stock On Thursday?

Coherent COHR Advent Samik Chatterjee Bank of America Securities BofA JPMorgan

Coherent

Coherent Corp. (NYSE:COHR) shares plummeted on Thursday after the company announced it will sell its aerospace and defense unit to Advent for $400 million.

The company plans to allocate the transaction proceeds toward reducing its debt.

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