As of last check, Rogers Corporation (ROG) was trading at $269.40, up 29.38% on the day. The ROG stock closed at $208.23 on Monday. There were 1.68 million ROG shares traded, which is higher than the average volume of 60.57K traded over the last three months. ROG stock fluctuated between $198.155 and $209.83 during the session.
The company reported an EPS of 4.37. In the past five sessions, ROG has gained 6.80% and moved 9.53% over the past month, but on a year-to-date basis, it has gained 34.09%. ROG’s 50-day moving average of $195.45 is higher than its 200-day moving average of $190.51. Additionally, ROG stock is trading at an RSI of 89.86. After receiving an acquisition offer, ROG has risen sharply.
Who offered to buy ROG?
Rogers Corp is a worldwide pioneer in engineered materials that are used to power, protect, and link the world’s infrastructure. ROG provides cutting-edge solutions to assist its clients overcome their most difficult material issues. Advanced electronic and elastomeric materials from ROG are utilised in EV/HEV, automobile safety and radar systems, mobile devices, renewable energy, wireless infrastructure, energy-efficient motor drives, industrial equipment, and other applications. ROG, based in Chandler, Arizona, has production sites in the United States, Asia, and Europe, as well as sales offices all around the world.
Rogers Corp stated today that it has signed a final merger agreement with DuPont to be purchased in an all-cash deal valued at $5.2 billion. ROG shareholders will get $277 in cash per share, which represents a 33 percent premium over the company’s closing share price on November 1, 2021, and a 46 percent premium over the 1-month volume weighted average share price.
How will it be carried out?
ROG will be absorbed into DuPont’s Electronics & Industrial business area when the purchase closes. ROG’s extensive applications engineering, design knowledge, and deep client contacts align well with DuPont’s innovation capabilities and collaborative approach to tackling the most difficult customer issues.
The transaction’s financial facts are as follows:
The Rogers Board of Directors unanimously approved the agreement with DuPont and recommends that Rogers shareholders vote in favour of the transaction at the Special Meeting of Shareholders that will be convened in conjunction with the transaction. The deal is scheduled to completion in the second quarter of 2022, subject to usual closing conditions such as Rogers shareholders’ approval and regulatory clearances.
The transaction will benefit ROG in the following ways:
ROG’s partnership with DuPont will assist accelerate its long-term growth in EV/HEV, ADAS, and other critical industries, as it is a recognised global leader in advanced materials solutions. The combination with DuPont will give ROG with the resources and support it needs to grow to its full potential.
