CTVA · 8-K · 20260806PR338406

Acquisition / Partnership / Divestiture

Corteva, Inc. · 2026-08-06 · Importance 71 · Surprise 60

Corteva plans to separate its Crop Protection Business into a standalone publicly traded company and distribute 100% of Vylor’s common stock pro rata to Corteva stockholders in a tax-free U.S. spin-off. For accounting purposes, the Crop Protection Business will be presented as discontinued operations, reducing pro forma 2025 net sales by $7,503 million from $17,401 million to $10,067 million. The transaction is expected to distribute approximately $3,536 million of cash to New Corteva and includes long-term commercial agreements with revenue and commission-sharing arrangements. Vylor expects to incur approximately $270 million of additional separation-related selling, general and administrative costs, primarily for advisors, counsel, bank success fees and tax costs.

Key facts

• The distribution ratio for the Separation is one share of Vylor common stock for each share of Corteva common stock for basic and diluted, respectively. source
• Vylor anticipates reductions to general corporate overhead costs including labor and benefits for shared resources transferred to New Corteva that Vylor does not intend to backfill after the Separation. source