DuPont - Rogers $5.2B Deal Loses Out To Regulatory Hurdles

  • DuPont De Nemours, Inc DD terminated the previously announced agreement to acquire the outstanding shares of Rogers Corp ROG after failing to obtain timely clearance from all the required regulators
  • DuPont is paying Rogers a termination fee of $162.5 million under the agreement.
  • DuPont announced an $11 billion deal earlier this year to sell most of its mobility and materials business to Celanese Corp CE and planned to use the sales proceed to fund the Rogers deal, Reuters reports.
  • Last November, DuPont agreed to acquire engineering materials technology company Rogers at $5.2 billion. 
  • DuPont held $1.44 billion in cash and equivalents as of June 30.
  • Price Action: DD shares are trading higher by 5.13% at $61.71, while ROG is down 40.96% at $135.50 in the premarket on the last check Wednesday.
  • Photo Via Company
Market News and Data brought to you by Benzinga APIs
Posted In: GovernmentM&ANewsRegulationsMoversMediaTrading IdeasBriefspremarket tradingwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!