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DuPont, Rogers Provide Update on Pending Merger
September 30, 2022 | Rogers CorporationEstimated reading time: Less than a minute
DuPont de Nemours, Inc. and Rogers Corporation provided the following update on regulatory approval of the pending merger of Rogers and Cardinalis Merger Sub, Inc., a wholly owned subsidiary of DuPont, which was previously expected to close in the third quarter of 2022.
The parties have received all regulatory approvals required to consummate the merger except for approval, which remains pending, of the State Administration for Market Regulation of China (“SAMR”). At the request of SAMR, DuPont recently withdrew and refiled with SAMR the notice of the parties’ planned merger. The parties continue to hold cooperative discussions with SAMR with the aim of securing regulatory approval of the planned merger. The parties continue to seek to close the merger as soon as possible, subject to regulatory approval by SAMR and the satisfaction of other customary closing conditions set forth in the merger agreement.
As previously announced on November 2, 2021, Rogers entered into a definitive merger agreement to be acquired by DuPont for $277.00 per share in cash. Rogers' shareholders approved the merger agreement at a special shareholder meeting held on January 25, 2022.
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