Corteva Could Split in Two    09/12 16:38

   Report: Corteva Agriscience is Looking to Breakup Its Seed, Chemical 
Businesses

   The Wall Street Journal reported Friday that Corteva Agriscience is looking 
at potentially splitting its seed and crop input businesses into separate 
companies. Corteva was created in 2019 after becoming a standalone company 
following the Dow Chemical and DuPont merger.

Chris Clayton
DTN Ag Policy Editor

   OMAHA (DTN) -- Corteva Agriscience is looking to split its seed and crop 
inputs businesses into separate companies, the Wall Street Journal reported 
Friday.

   Citing, "people familiar with the matter," the WSJ noted Corteva has a 
market value of around $50 billion "and could unveil its plans soon, assuming 
the talks don't hit any last-minute snags."

   The article suggested Corteva could follow other recent "corporate 
unwindings" that have occurred in 2025 such as Kraft Heinz.

   While Corteva and competitors such as Bayer and Syngenta have closely 
married their seed businesses and biotech traits with their pesticide 
offerings, the WSJ suggested one reason for separating Corteva's seed unit from 
its pesticide business would be to "help shield its seeds from any future 
liabilities associated with its pest and weed-killing chemicals." Bayer has 
faced years of legal liability and battles over its glyphosate product, Roundup.

   Still, as the WSJ noted, "Corteva hasn't had the same legal pressure as 
Bayer and isn't involved in that litigation."

   Corteva is the owner of the seed brand Pioneer and has been a strong 
financial performer because of products such as Enlist soybeans, the WSJ noted.

   The company's stock is trading at more than $74 a share and saw a nearly 2% 
increase Friday after the WSJ report came out. During the past year, the stock 
has ranged from a low of $53.40 to a high of $77.41 a share.

   Corteva was created as part of the 2017 merger between DuPont and Dow 
Chemical. Out of that, Corteva Agriscience was spun off as a standalone, 
publicly trade company in 2019.

   Corteva reported $16.9 billion in sales in 2024, of which $9.5 billion was 
from seed sales and nearly $7.4 billion was from its crop protection unit. The 
company has business units globally, though its dominant market remains North 
America, which accounted for $8.6 billion in total sales last year.

   In the first half of 2025, Corteva reported $10.9 billion in sales, up 3% 
from a year ago, citing seed pricing gains and strong growth in seed sales in 
North America. But Corteva also noted the company's crop protection business 
was facing competitive price pressures.

   In a fact sheet, Corteva stated the company sells seed for more than 100 
crops and has more than 400 seed and crop protection products. The company has 
roughly 100 production facilities around the world and more than 120 R&D 
facilities. Corteva employs about 22,000 people.

   The WSJ suggested, "A breakup of Corteva could usher in a dealmaking wave in 
agriculture not seen since the first Trump administration."

   That stretch from 2017 to 2020 included Corteva's spinoff along with Bayer's 
purchase of Monsanto and ChemChina's purchase of Syngenta. And the pattern 
seems familiar. "A period of low grain prices from bumper crops pressured the 
farm economy and led companies to consolidate to cut costs," the WSJ noted.

   Chris Clayton can be reached at Chris.Clayton@dtn.com

   Follow him on social platform X @ChrisClaytonDTN




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