WILMINGTON (dpa-AFX) - Rogers Corporation (ROG), an electronic components business, on Wednesday said it is currently evaluating all options to determine the best path forward, in response to DuPont de Nemours, Inc.'s (DD) notice of termination of the definitive merger agreement entered into by Rogers and DuPont on November 1, 2021.
Following the news, the stock nosedived more than 40% in pre-market activity.
Rogers Corporation had announced entering into a definitive merger agreement to be acquired by DuPont in an all-cash transaction that valued Rogers at approximately $5.2 billion. The transaction was expected to be closed in the second quarter of 2022.
Shares of Rogers Corporation sank more than 40 percent in pre-market to trade at $136.32.
Shares of DuPont de Nemours are currently trading in pre-market at $61.70, up $3.00 or 5.11 percent from the previous close.
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