WILMINGTON, Del.—DuPont's mega-deal to acquire Rogers Corp. is on hold.
DuPont's $5.2 billion deal to acquire Chandler, Ariz.-based Rogers Corp. has been held by the State Administration for Market Regulation of China (SAMR), the companies said in a joint Sept. 30 news release.
The deal, which was announced in November last year, was set to be completed in the third quarter of 2022 at $277 per share in cash.
"The parties have received all regulatory approvals required to consummate the merger except for approval, which remains pending, of the SAMR," the companies said in the update.
At the request of SAMR, DuPont said it recently withdrew and refiled 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 statement added.
The two sides said they sought to close the merger "as soon as possible," subject to regulatory approval by SAMR and the satisfaction of other customary closing conditions.
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