Rogers Corporation (NYSE:ROG) (“Rogers”) stated today that its definitive merger agreement with DuPont de Nemours and Company (“DuPont”) has been terminated. Rogers received a regulatory termination fee of $162.5 million from DuPont in connection with the termination of the merger agreement.
As previously stated, the merger agreement gave both Rogers and DuPont the ability to terminate the deal if the merger did not occur by November 1, 2022. The merger was subject to a number of standard closing conditions, including regulatory approval from China’s State Administration for Market Regulation (“SAMR”). The parties had not secured regulatory approval from SAMR as of November 1, 2022.
Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect and connect our world. Rogers delivers innovative solutions to help our customers solve their toughest material challenges. Rogers’ advanced electronic and elastomeric materials are used in applications for EV/HEV, automotive safety and radar systems, mobile devices, renewable energy, wireless infrastructure, energy-efficient motor drives, industrial equipment and more. Headquartered in Chandler, Arizona, Rogers operates manufacturing facilities in the United States, Asia and Europe, with sales offices worldwide.