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
The European Union said Monday that it has approved Agrofert Group’s acquisition of Borealis AG’s nitrogen business after concluding that the deal wouldn’t raise competition concerns. Agrofert is a Czech conglomerate, while Austrian chemical and fertilizer company Borealis is 75%-owned by OMV AG with the remaining 25% held by Abu Dhabi National Oil Co.
LyondellBasell Industries N.V. and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland.
Univar Solutions Inc and Apollo announced that funds managed by affiliates of Apollo have entered into a definitive merger agreement to acquire the Company in an all-cash transaction that values the Company at an enterprise value of approximately $8.1 billion.
