DuPont backs out of Rogers acquisition
DuPont says that it is terminating its previously announced agreement to acquire the outstanding shares of Rogers Corporation.
The reason behind the decision is that the companies have been unable to obtain clearance from all the required regulators. As a result of the termination, DuPont is paying Rogers a fee of USD 162.5 million in accordance with the agreement, a press release reads.
It was back in late 2021 that the companies entered into a definitive merger agreement under which Rogers would be acquired by DuPont in an all-cash transaction that valued Rogers at approximately USD 5.2 billion. The companies were originally targeting a completion of the transaction during the second quarter of 2022.