Corteva, Inc. announced it is proceeding with the previously announced separation of its seed operating segment into a new independent, publicly traded company, Vylor Inc. This follows a U.S. District Court decision to deny the State of California's motion to enjoin the transaction. The company's board waived a legal condition to ensure the separation could be completed on schedule.
Key Details
- Transaction: Separation of Corteva's seed operating segment into Vylor Inc. through a pro rata dividend of Vylor common stock to Corteva shareholders.
- Legal Update: On September 30, 2026, a U.S. District Court denied the State of California's motion for an injunction to delay the separation. Corteva's board subsequently waived the "Legal Restraints Condition" to facilitate the closing.
- Completion Timeline: The distribution of Vylor shares is expected to be completed before 9:30 a.m., New York City time, on October 1, 2026.