DuPont nears $5 bln deal to buy engineering materials maker Rogers

Industrial materials maker DuPont (DD.N) is in advanced talks to buy engineering materials maker Rogers Corp (ROG.N) for about $5 billion, citing a person familiar with the matter.

DuPont’s offer of $275 a share as per the report would be at a premium of 32% to Rogers’ last close, which gives it a current market value of about $3.9 billion.

The deal is in line with DuPont’s aim to expand its portfolio of advanced electronic materials used in areas such as smart and autonomous vehicles and fifth-generation telecommunications.

In March, DuPont struck a deal to buy Laird Performance Materials for $2.3 billion.

Arizona-headquartered Rogers manufactures advanced electronic materials used in electric vehicles, according to its website.

A deal could be announced as soon as Tuesday when DuPont reports its third-quarter results.

DuPont also plans to review alternatives for its unit specializing in materials used in the automotive industry, according to the Wall Street Journal, which earlier reported the company’s discussions with Rogers.