Sector News

DuPont completes divestiture of Mobility & Materials segment; cancels Rogers acquisition

November 6, 2022
Energy & Chemical Value Chain

DuPont (Wilmington, Del.) completed the previously announced divestiture of the majority of its former Mobility & Materials segment (the M&M Business) to Celanese Corp. (Dallas, Tex.) for a purchase price of $11 billion in cash, subject to customary transaction adjustments in accordance with the transaction agreement dated February 17, 2022.

The results of the M&M Business were reclassified and reported as discontinued operations beginning in first quarter 2022 for current and historical periods.

DuPont also announced the termination of the previously announced agreement 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.

By Mary Bailey

Source: chemengonline.com

 

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