Dupont Spinoff. Something we have written about many times over the years. We have a good excuse. We must keep writing about them, because they keep spinning off. DuPont, officially known as DuPont de Nemours, Inc, will likely eventually spin itself into oblivion, like other reapeat spinners Tyco and Sara Lee.
Ed Breen The Spinoff King
If we had to name a spinoff king, DuPont(DD) CEO Ed Breen would be very much in the running for the title. Breen twice broke conglomerate Tyco into 3 pieces . After merging DuPont with Dow, he then broke the merged company into three pieces. As early as 2019, analysts were suggesting he’d do it again. In May 2024, DuPont announced it would be breaking into three parts, spinning off its Electronics and Water businesses in tax free spinoffs.
DuPont Electronics Spinoff Accelerated, Water Spinoff Cancelled
Eight months later, in January 2025, DuPont announced a change to the spinoff plans. While the Electronics spinoff continues to move forward and in fact now has an accelerated target date of November 1, 2025, plans to spin off the water business have been shelved. The company plans to retain the Water business alongside its Healthcare business, a materials business that produces products like Tyvek and Kevlar, and whatever other businesses it might still have- honestly we are just not sure, except that if it’s not nailed down, Breen will probably spin it off eventually.
Barron’s points out that the new timeline pulls the anticipated spin forward almost a year from mid-2026 and takes the stock out of “deal limbo” much sooner which will allow the market to begin recognizing the value of each component.
Disclosure: The author holds no position in any stock mentioned