DuPont's $5 bln acquisition of Rogers isn't going to close on time amid regulatory talks with China

DuPont de Nemours Inc. /zigman2/quotes/203606582/composite DD +1.22% and Rogers Corp. /zigman2/quotes/203958926/composite ROG +1.52% said their pending merger will not close as expected by the end of the third quarter of 2022 pending ongoing talks with Chinese regulators. The parties continue to hold cooperative discussions...with the aim of securing regulatory approval of the planned merger," DuPont said. DuPont announced plans to acquire the engineered materials company for $277 a share in cash, or $5.2 billion, on Nov. 2, 2021, and had planned to close the deal by today. DuPont said it's received all regulatory approvals except for the State Administration for Market Regulation of China. Shares of DuPont are down 37.3% in 2022 compared to a 23.6% loss by the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.59% . Rogers stock has lost 10%.

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DuPont de Nemours Inc.

US : U.S.: NYSE

$ 72.41

+0.87 +1.22%

Volume: 4.43M

Dec. 1, 2023 4:00p

P/E Ratio

7.49

Dividend Yield

1.99%

Market Cap

$30.77 billion

Rev. per Employee

$533,652

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Rogers Corp.

US : U.S.: NYSE

$ 131.37

+1.97 +1.52%

Volume: 80,052

Dec. 1, 2023 4:00p

P/E Ratio

24.50

Dividend Yield

N/A

Market Cap

$2.41 billion

Rev. per Employee

$244,084

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S&P 500 Index

US : S&P US

4,594.63

+26.83 +0.59%

Volume: 0.00

Dec. 1, 2023 4:51p