DD - DuPont near deal to sell resins unit for $1.8B - report
2023-08-20 19:32:24 ET
DuPont ( NYSE: DD ) is nearing an agreement to sell its Delrin resins unit for about $1.8 billion to the Jordan Company.
The chemical company may announce a sale of the unit as soon as this week, according to a Bloomberg report on Sunday, which cited people familiar with the matter. No final decision has been reached, so a deal may not come to fruition.
A deal may come after Bloomberg reported earlier this month that Lone Star Funds and Platinum Equity were vying to buy the Delrin resins unit of DuPont ( DD ). The price was said to be around $2 billion.
Delrin is a kind of plastic that can substitute for metal in products including mechanical gears and zip fasteners.
A divestiture would be another step in Executive Chairman Ed Breen’s efforts to refocus the chemical maker on electronics, automotive and water and industrial technologies.
More on DuPont
- DuPont de Nemours, Inc. 2023 Q2 - Results - Earnings Call Presentation
- DuPont de Nemours, Inc. ( DD ) Q2 2023 Earnings Call Transcript
- DuPont de Nemours: Healthcare Offers Long-Term Growth
- DuPont Q2 earnings on deck, what to expect
- Albemarle, Linde, Eastman are top picks in new chemicals coverage at Citi
- Seeking Alpha’s Quant Rating on DuPont
- Earnings data for DuPont
- Dividend scorecard for DuPont
For further details see:
DuPont near deal to sell resins unit for $1.8B - report