Coherent Stock Sinks On Sale Of Aerospace, Defense Business

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. Here's a look at what to know:

COHR is down after-hours. See the full breakdown here.

The Sale

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 ...