Deals
DuPont Offers About $275 a Share for Rogers Corp.
- Rogers purchase to increase exposure to high-growth markets
- Chemicals maker plans to sell most of mobility business
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DuPont Inc. soared the most in 18 months after announcing it would buy engineering materials maker Rogers Corp. for about $5.2 billion to tap into the rapid growth of electric vehicles and advanced auto electronics.
The shares jumped 7.9% to $76.87 at 2:22 p.m. in New York after climbing 9.8%, the most intraday since April 6, 2020. Rogers surged 30% to $270.01 after gaining 31%, the biggest intraday advance for the Chandler, Arizona-based company since 1999.