Rogers terminates merger with DuPont; receives $162.5M termination fee

ROGERS CORP

Merger agreement terminated on November 1, 2022 after failing to secure Chinese regulatory approval by outside date.
Rogers received a $162.5 million regulatory termination fee from DuPont.
CEO Hoechner states confidence to double annual revenue over five years and return profitability to historic levels.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

ROGERS CORP terminated Agreement and Plan of Merger with DuPont de Nemours, Inc. valued at Regulatory termination fee of $162.5 million was received by Rogers Corporation from DuPont (effective 2022-11-01).

Action: termination
Agreement: merger
Counterparty: DuPont de Nemours, Inc.
Value: Regulatory termination fee of $162.5 million was received by Rogers Corporation from DuPont
Effective: 2022-11-01

Exact text from the filing

On November 1, 2022, the Company received a notice of termination of the Merger Agreement (the “Notice”). In accordance with the terms of the Merger Agreement, the Company received a regulatory termination fee from DuPont in the amount of $162.5 million.

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Source: SEC EDGAR

accession 0000084748-22-000037

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