DuPont’s $5.2 billion acquisition of engineered materials producer Rogers Corporation, originally expected to close during the third quarter of 2022, still awaits regulatory approval from China’s State Administration for Market Regulation (SAMR), the two companies announced on 30 September. All other regulators have approved the deal, which was announced in November 2021 and approved by Rogers shareholders in January 2022.
“At the request of SAMR, DuPont recently withdrew and refiled with SAMR the notice of the parties’ planned merger,” says a statement from the companies. “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,” they add.
Rogers is a global player in engineered materials and components, with leading positions in high-frequency circuit materials, ceramic substrates for power semiconductor devices and high-performance foams. DuPont says the acquisition of Rogers, combined with the previous acquisition of Laird, will expand the addressable market opportunity in its electronics and industrial segment by 50% to more than $40 billion and strengthen its position in electric vehicles, advanced driver-assistance systems, 5G telecommunications and clean energy.
By Clay Boswell
Source: chemweek.com
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