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Corteva Splits Into Two Ag Giants
1 Oct
Summary
- Corteva is dividing into two separate agricultural companies.
- Shareholders receive Vylor shares for Corteva shares held.
- One company focuses on seeds, the other on crop protection.
On October 1, Corteva will complete its separation into two independent agricultural companies. Shareholders will receive one share of the new Seed business, Vylor, for every Corteva share they owned as of September 24. Vylor will begin trading on the NYSE under the ticker VYLR.
Vylor will encompass Corteva's seed and genetics operations, including iconic brands like Pioneer. The remaining Corteva entity will focus on its crop protection portfolio, featuring herbicides, fungicides, insecticides, and biological technologies.
This strategic move allows each business to tailor its investment strategy to its specific products and markets. CEO Chuck Magro stated that the diverging opportunities in the seed and crop protection markets necessitate this separation to maximize long-term value creation for both entities.
