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Thursday, Oct 24
DuPont to spin off performance chemicals unit, shares +3.5%
- DuPont (DD) +3.5% AH after announcing plans to spin off its performance chemicals segment into an independent, publicly-traded company 100% owned by DD shareholders.
- The company says the move, which had been sought by Wall Street, will allow it to better focus on the growth area of specialty materials and agriculture.
- The spinoff is expected to dent Q4 EPS by a cent or two.