The planned $5 billion buyout deal of Chandler-based Rogers Corp. by chemicals giant DuPont de Nemours Inc., which has already faced several regulatory hurdles that have delayed the deal, now faces another snag while it awaits approval from China., through which Wilmington, Delaware-based DuPont would acquired Rogers for $277 per share in an all-cash deal, that at the time was expected to close by the end of June of this year.
Rogers is one of Arizona's largest public companies with more than 3,500 employees worldwide and a network of 14 manufacturing sites in North America, Europe and Asia — including China. Rogers' 2021 revenue was about $950 million. For this year's second quarter, the company reported net income of $17.9 million, or 94 cents a share, on revenue of $252 million, with non-GAAP earnings of $1.22 a share.
In part to raise financing and in part to follow through on a promise to regulators that it would dispose of some assets in order to close the Rogers deal, in February, DuPont said it had agreed to divest the majority of its Mobility & Materials business segment to chemical and materials company Celanese for $11 billion in cash, a deal that is expected to close by the end of the year.
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