DowDuPont Announces Finalized Spin-Off Plan; We Maintain Our $52 FVE
DowDuPont announced a finalized spin-off plan after a review by consulting firm McKinsey. The plan remains to split into three companies within the next 18 months; however, some businesses that were previously slated to become part of the material science company will now move into the specialty product company. We maintain our $52 fair value estimate and narrow moat rating.DowDuPont still intends to split into agriculture, specialty product, and material science companies. The specialty produc...
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