DuPont Announces Termination of Intended Rogers Acquisition

Rhea-AI Summary

DuPont (NYSE: DD) has officially terminated its agreement to acquire Rogers Corporation due to delays in obtaining necessary regulatory clearances. This decision comes with a termination fee of $162.5 million to be paid to Rogers. The acquisition was initially announced on November 2, 2021, pending regulatory approvals.

Positive

• None.

Negative

• Termination of the acquisition may signal regulatory hurdles affecting market strategies.
• Payment of a $162.5 million termination fee could impact short-term cash flow.

WILMINGTON, Del., Nov. 1, 2022 /PRNewswire/ -- DuPont (NYSE: DD) today announced the termination of the previously announced agreement¹ to acquire the outstanding shares of Rogers Corporation, as the companies have been unable to obtain timely clearance from all the required regulators. DuPont is paying Rogers a termination fee of $162.5 million in accordance with the agreement.

About DuPont
DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.

DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, ℠ or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted. 

1	On November 2, 2021, DuPont announced that it had entered into an agreement to acquire all the outstanding shares of Rogers Corporation pending receipt of regulatory approvals and satisfaction of customary closing conditions.

 

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SOURCE DuPont

FAQ

Why did DuPont terminate its acquisition of Rogers Corporation?

DuPont terminated the agreement due to delays in obtaining timely regulatory clearance.

What is the termination fee that DuPont will pay to Rogers?

DuPont is required to pay a termination fee of $162.5 million to Rogers Corporation.

When was the agreement to acquire Rogers Corporation initially announced?

The acquisition agreement was initially announced on November 2, 2021.

How will the termination of the acquisition impact DuPont's financials?

The termination fee may affect DuPont's short-term cash flow due to the $162.5 million payment.

What are the implications of this termination for DuPont's market strategy?

The acquisition's termination may indicate challenges in regulatory compliance that could affect DuPont's market strategies.