Update 2:15pm : Adds further details on report circulating.
- Rogers Corp. ( NYSE: ROG ) fell 1.1% on a report that China antitrust approval of Dupont's ( NYSE: DD ) $5.2 billion acquisition is likely to take longer in China.
- Traders were circulating a report that the deal may see a longer review by China's State Administration for Market Regulation. The report indicates that the parties have refiled with SAMR and there have been no formal commitments made by the parties yet and they are still waiting on feedback.
- The latest update on China's review of the deal comes after Dealreporter said in May that the transaction is said to be seeing some concerns by third parties in China. The third party concerns are focused on the copper clad laminate industry and the purchase of raw materials.
- Rogers ( ROG ) and Dupont earlier this month that the transaction is now expected to close in Q3 after Dupont originally said when the deal was announced in early November it was expected to close in the second quarter of 2022.
For further details see:
Rogers ticks lower on report Dupont deal approval in China taking longer (update)