DuPont scraps US$5.2bil Rogers buyout due to China hurdles

FILE PHOTO: A logo is pictured outside of Dupont offices in Geneva, Switzerland, April 15, 2021. REUTERS/Denis Balibouse/File Photo

CHEMICALS maker DuPont De Nemours Inc said on Tuesday it was ending its $5.2 billion buyout of Rogers Corp, the first collapse of a major U.S. deal in four years caused by a failure to clear Chinese regulatory hurdles.

DuPont said the termination of the deal was agreed with Rogers as they have been unable to obtain timely clearance from all the required regulators. They said in September that they had received all regulatory approvals for the deal except from China.