DuPont makes major strategic adjustments

Sinochem News News on November 2, DuPont announced that the company will make major strategic adjustments
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DuPont will acquire Rogers Corporation, a manufacturer of electronic materials, for US$5.

DuPont stated that the enterprise value multiple of the transaction is approximately 19 times the estimated operating profit before interest, tax, depreciation and amortization (EBITDA) in 2022.
The acquisition is expected to be completed in the second quarter of 2022, subject to regulatory approval and Rogers shareholders’ approval.
Approved
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Rogers’ shareholders will receive $277 in cash per share, which is 33% higher than Rogers’ closing price on November 1, 2021, and 46% higher than the 1-month weighted average share price

This is not the first time DuPont has acquired an electronic materials company.
In March of this year, DuPont acquired the electronic materials company Laird High Performance Materials for US$2.
3 billion.
The transaction was completed in early July
.
DuPont said that the two acquisitions will give it more opportunities in the electronics and industrial sectors with a market value of more than US$40 billion, and strengthen its position in industries such as electric vehicles, advanced driver assistance systems, 5G telecommunications and clean energy

On the same day, DuPont also announced plans to divest the mobile and materials business, mainly the engineering polymers and high-performance resin business lines, and DuPont's shares in the DuPont Teijin film joint venture
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The total revenue of these businesses in 2021 is approximately US$4.

　　DuPont announced its financial report on November 2, showing that the company’s third-quarter net profit was US$391 million, compared with a net loss of US$79 million in the same period last year, and EBITDA was US$1.
09 billion, a year-on-year increase of 20%
.
Net sales increased by 18% to US$4.