Deals
DuPont Broken in Two After CEO Exit Seen Raising Value
- DuPont worth $67 a share after split, Deutsche Bank says
- Stock surges most in at least 35 years as CEO announces exit
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Splitting DuPont Co. in two, an outcome that seems more likely now that Chief Executive Officer Ellen Kullman is departing, would increase the value of the 213-year-old company by about 31 percent.
That, at least, is the estimate from David Begleiter, an analyst at Deutsche Bank AG. Creating two DuPonts, he said in a note Tuesday -- one encompassing pesticide, seeds, nutrition and biofuels, the other chemicals and materials such as Kevlar -- would be worth about $67 a share, according to his sum-of-the-parts valuation. That compares with the stock’s $51.28 closing price Monday before Kullman, 59, announced her retirement.