Corteva Agriscience announced today its board of directors approved the company’s separation into two independent public companies, Vylor and New Corteva, ahead of Investor Day events for both businesses.
The split is effective Oct. 1. Vylor will focus on seeds and genetics and be headquartered in Johnston, and New Corteva will focus on crop protection and be based in Indianapolis, the current headquarters for Corteva.
The Corteva board declared a pro rata dividend of all the issued and outstanding shares of common stock in Vylor to Corteva’s stockholders of record as of Sept. 24. The dividend is expected to occur by Oct. 1, according to a news release…