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On November 2, 2022, Rogers Corporation (ROG) disclosed the termination of its merger agreement with DuPont because of the absence of regulatory approval by the State Administration for Market Regulation of China (SAMR).
In connection with the termination of the merger agreement, Rogers has received a regulatory termination fee of $162.5 million from DuPont.
On this news, ROG shares dropped over 44%, losing almost $2 billion of its market capitalization.
Before this announcement, the DuPont/Rogers $ 5.2 billion deal seemed to be going smoothly. As such Investors and Shareholders of both Companies have grounds to suspect that the regulator in China acted with negligence or conducted malpractice.
Breach of Fiduciary duty,
Shock Event Date
02 November 2022