Corteva was created from DowDuPont’s 2019 spinout and has since seen its stock rise nearly 150%, including a 25% jump this year
Agriculture giant Corteva is exploring a possible breakup to split its seed and pesticide businesses, according to people familiar with the talks. The $50 billion company could announce plans soon if discussions stay on track.
Corteva was created from DowDuPont’s 2019 spinout and has since seen its stock rise nearly 150%, including a 25% jump this year.
The company sells biotech seeds and pest-control products worldwide and owns the well-known Pioneer seed brand.
A split could protect the seed business from future legal risks tied to pesticides, like those Bayer has faced with Roundup lawsuits.
Shares rose 2% Friday after the Wall Street Journal report. CEO Chuck Magro has led recent restructuring and a headquarters move to Indianapolis.