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Recently, DuPont and Rogers issued press releases providing the following updates on the regulatory approval of the upcoming merger between Rogers and DuPont's wholly owned subsidiary, Cardinalis Merger Sub, Inc.
, which was expected to close
in the third quarter of 2022.
It is reported that the two sides have obtained all regulatory approvals required to complete the merger, but the approval of China's State Administration for Market Regulation is still pending
.
At the request of China's State Administration for Market Regulation, DuPont recently withdrew and resubmitted a notice
of the proposed merger between the two parties.
The parties also expressed their desire to complete the merger as soon as possible, subject to regulatory approval from the State Administration for Market Regulation of the People's Republic of China and other customary closing conditions
set out in the merger agreement.
As previously announced on November 2, 2021, Rogers will be acquired
by DuPont for $277 per share in cash.
Rogers' shareholders approved the merger agreement at an extraordinary general meeting held on January 25, 2022, and Rogers' valuation is approximately $5.
2 billion.
Upon completion of the transaction, Rogers will be integrated into DuPont's Electronics & Industrial business unit
.
Rogers' critical application engineering, design expertise and deep customer relationships form a strong strategic fit with DuPont's innovative capabilities and collaborative approach to solving the most complex customer challenges
.
About DuPont
DuPont Corporation (NYSE:DD) is a global innovation leader in providing technology-based materials and solutions that help customers transform industries and everyday lives
.
Our employees apply a variety of science and expertise to help clients advance their best ideas and deliver important innovations
in key markets such as electronics, transportation, construction, water, healthcare and worker safety.
About Rogers
Rogers Corporation (NYSE:ROG) is a global leader in engineered materials whose products are powering, protecting and connecting our world
.
Rogers offers innovative solutions to help them meet the difficulties and challenges
of the materials sector.
Our advanced electronic and highly elastomeric materials are used in a wide range of applications
such as electric/hybrid vehicles, vehicle safety and radar systems, mobile devices, renewable energy, wireless infrastructure, high-efficiency motor drives, and industrial equipment.
Headquartered in Chandler, Arizona, Rogers has manufacturing facilities in the United States, Asia and Europe, with sales offices around the world
.
