Coherent in talks with Japanese firms for silicon carbide investment-source

SaltWire's Atlantic regional weather forecast for September 22, 2023 | SaltWireNEW YORK - Coherent Corp, a major U.S. supplier of materials used to make chips for the automotive industry, has attracted interest from four Japanese conglomerates for an investment in its silicon carbide business at a valuation of as much as $5 billion, according to a person familiar with the matter.

Denso Corp, Hitachi Ltd, Mitsubishi Electric Corp and Sumitomo Electric Industries Inc have held discussions about taking a minority stake in Coherent's silicon carbide business, the source said. Coherent, which said in May it would explore options for its silicon carbide business, declined to comment. Representatives for the Japanese companies did not immediately respond to requests for comment.

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