This post was originally published on this site
(Reuters) -Industrial materials maker DuPont (NYSE:DD) is in advanced talks to buy engineering materials maker Rogers (NYSE:ROG) Corp for about $5 billion, Bloomberg News reported on Monday, citing a person familiar with the 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.
The deal is in line with DuPont’s aim to expand its portfolio of advanced electronic materials used in areas such as smart and autonomous vehicles and fifth-generation telecommunications.
In March, DuPont struck a deal to buy Laird Performance Materials for $2.3 billion.
Arizona-headquartered Rogers manufactures advanced electronic materials used in electric vehicles, according to its website.
A deal could be announced as soon as Tuesday when DuPont reports its third-quarter results, according to Bloomberg News.
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 did not immediately respond to Reuters requests for comment.
