M&A · Energy · Plastic Materials, Synth Resins & Nonvulcan Elastomers
DuPont de Nemours, Inc. to acquire Rogers Corp
Announced Nov 2, 2021 · Terminated Nov 3, 2022
Deal value$5.20BEV $4.98B
Premium33.0%To unaffected price
EV / Adj. EBITDA25.1x5.7x EV / Revenue
ConsiderationAll cash$277.00 per share
Transaction
- Acquirer
- DuPont de Nemours, Inc. (DD)
- Target
- Rogers Corp (ROG)
- Buyer type
- Strategic
- Offer price per share
- $277.00
- Enterprise value
- $4.98B
- Status
- Terminated Nov 3, 2022
Deal protections
- Break fee (target pays)
- $135M · 2.6%
- Reverse fee (buyer pays)
- $163M · 3.1%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Evercore, Goldman Sachs
- To the target
- JPMorgan
Sector context · Energy
- Comparable deals
- 21 in the prior 24 months
- Premium
- 33.0% vs. 25.1% sector median
- EV / Adj. EBITDA
- 25.1x vs. 13.3x sector median
- Break fee
- 2.6% vs. 2.5% sector median
Timeline
- AnnouncedNov 2, 2021
- Proxy filedDec 1, 2021
- Definitive proxyDec 16, 2021
- Shareholder voteJan 25, 2022
- TerminatedNov 3, 2022