DowDuPont in 2018 was the pupal stage of a business organism that in 2019 is metamorphosing into three independent, publicly traded companies. A materials science business called Dow was spun off in April 2019; an agricultural business called Corteva and a specialty products business called DuPont were separated in June. Those actions will complete a process launched in December 2015, when Dow and DuPont announced that they’d merge and then recombine into the new companies. The rationale was that three focused entities would cumulatively be more competitive and valuable than the parents. Now we’ll see if that’s true.
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