RTTNews | Nov 2, 2021 10:03AM EDT

10:03 Tuesday, November 2, 2021 (RTTNews.com) - Shares of engineered materials and components maker Rogers Corporation (ROG) are surging more than 28% in the morning trade on Tuesday following the news of it being bought by DuPont (DD) for about $5.2 billion, to be paid in cash.

Shareholders of Rogers Corp. will receive $277 per share, a 33% premium over Rogers' closing share price on November 1, 2021, and a 46% premium to the 1-month volume weighted average share price, DuPont said.

DuPont intends to integrate Rogers into DuPont's Electronics & Industrial business unit upon closing the deal.

ROG touched a new high of $272.01 this morning, before sliding to trade at $268.58 currently.

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