DuPont’s $5.2 billion Rogers buyout deal held up by Chinese regulator
2022.09.30 11:27
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© Reuters. The logo for DuPont de Nemours, Inc. is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly
(Reuters) -Chemicals maker DuPont (NYSE:) De Nemours Inc has received all regulatory approvals for its $5.2 billion buyout of Rogers (NYSE:) Corp except from China, the companies said on Friday.
DuPont’s all-cash takeover of the engineering materials maker would be its biggest deal since splitting from DowDuPont in 2019.
DuPont and Rogers said they were continuing discussions with the State Administration for Market Regulation of China (SAMR) to close the deal as soon as possible.
DuPont in November last year said it had agreed to buy Chandler, Arizona-based Rogers for $277 per share, in its bid to supply to fast-growing industries such as electric vehicles, 5G and clean energy.
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