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DuPont nears $5 billion deal to buy engineering materials maker Rogers

by Mike Robinson

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© Reuters. FILE PHOTO – The DuPont de Nemours, Inc. logo can be seen in Manhattan, New York City, U.S.A, on the New York Stock Exchange (NYSE), August 3, 2021. REUTERS/Andrew Kelly

(Additional word dropped in the first paragraph

(Reuters) -DuPont, an industrial materials company (NYSE:), is in advanced negotiations to acquire Rogers Corp Engineering Materials (NYSE.) Corp for approximately $5 billion. Bloomberg News reported that Monday, citing a person who was familiar with this matter.

DuPont’s offer of $275 a share as per the report https://www.bloomberg.com/news/articles/2021-11-02/dupont-is-said-to-offer-about-275-a-share-for-rogers-corp?srnd=technology-vp&sref=vEQJzSks would be at a premium of 32% to Rogers’ last close, which gives it a current market value of about $3.9 billion.

This deal aligns with DuPont’s goal to increase its range of electronic materials for advanced applications in areas like smart and autonomous cars and fifth-generation telecommunications.

DuPont purchased Laird Performance Material for $2.3 Billion in March.

Arizona-headquartered Rogers manufactures advanced electronic materials used in electric vehicles, according to its website.

Bloomberg News reports that a deal may be made as soon as DuPont releases its third quarter results on Tuesday.

DuPont also plans to review alternatives for its unit specializing in materials used in the automotive industry, according https://www.wsj.com/articles/dupont-plans-moves-that-would-remake-chemicals-company-11635812224?mod=latest_headlines to the Wall Street Journal, which earlier reported the company’s discussions with Rogers.

Both companies didn’t immediately reply to Reuters’ requests for comment.

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