(Rogers Corporation) DuPont has agreed to acquire Rogers Corporation for a $5.2 billion all-cash transaction.
Rogers shareholders will receive $277 in cash per share, about 33% premium of the company’s closing share price as of November 1, 2021. The price is also a 46% premium to the one-month volume weighted average price.
Upon the closure of the transaction, Rogers will be integrated into DuPont’s Electronics and Industrial business unit.
Rogers President and CEO Bruce D. Hoechner expects the combination with DuPont to accelerate its long-term expansion in EV/HEV, ADAS, and other major markets.
DuPont CEO Ed Breen is optimistic that the technical expertise of Rogers and its customer relationships aligns with the company’s innovation and capabilities in material science.
DD: NYSE is up +5.00%, ROG: NYSE is up +29.34%.
