Corteva Completes Vylor Spinoff as Shares Reset

Corteva completed the separation of its seed and genetics business into Vylor Inc. on October 1, leaving Corteva focused on crop protection and sending Vylor shares to eligible shareholders. Corteva’s stock fell more than 80% in early trading, a steep move that reflected the removal of the separated business from the Corteva share price rather than a comparable loss in the combined value held by shareholders who received Vylor stock. Corteva said shareholders who owned its stock as of September 24 were entitled to Vylor shares while retaining their Corteva shares. The distribution means investors now hold separate stakes in the seed-and-genetics company and the crop-protection business. Early October 1 trading reports put Corteva shares between about $12.94 and $14.80, compared with a previous close of $77.65. Those are intraday observations, not closing prices, and do not establish where either stock ultimately settled. The transaction went ahead after courts declined to temporarily block it. California had argued that the spinoff was a fraudulent transfer intended to shield Corteva from PFAS-related liabilities.