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Dupont explores divestiture of electronics unit
Following its recent USD 26.2 billion deal to sell off its nutrition business, DuPont de Nemours Inc. is weighing a divestiture of its electronics unit, according to people familiar with the matter.
Citing sources close to the situation who wished to remain anonymous, Bloomberg is reporting that the company is working with advisers to review strategic options that could include either a sale or spinoff. Another consideration is what is called a Reverse Morris Trust, or tax-free merger with another company, the sources said, adding that no final decision has been made and DuPont may well end up keeping the unit. A representative for DuPont declined to comment to Bloomberg. Specializing in materials for semiconductors, light-up displays and sensors, DuPont electronics and imaging products reported sales of USD 2.6 billion in the first three quarters of 2019, which amounts to 16% of the company’s total revenue, according to tax filings. Fourth quarter and FY2019 results are expected to be reported on January 30. A sell-off of the electronics unit would amount to a full dismantling of the chemicals giant. After splitting with DowDuPont Inc. in August 2019, the company then struck a deal in December to sell its nutrition division to International Flavors & Fragrances Inc. in a Reverse Morris Trust.
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