Corteva, Inc. (CTVA)

[DewDiligence]

CTVA (Corteva Agriscience) begins trading:

https://www.wsj.com/articles/corteva-debut-caps-years-of-seed-company-consolidation-11559554201

The seed-and-pesticide maker, formed from the 2017 merger of Dow Chemical Co. and DuPont Co., began trading on the New York Stock Exchange on Monday as an independent entity.

…Corteva’s merger combined DuPont’s strong seeds business with Dow’s chemicals portfolio and biotechnology unit, an area where DuPont had struggled. The combined businesses have introduced 14 new products since Dow and DuPont completed their merger in 2017… (Corteva’s separation also created a new DuPont, which will also begin trading Monday on the NYSE, completing DowDuPont’s three-way split.)

… Corteva, Bayer and ChemChina together now represent about $50 billion worth of seed and pesticide sales annually. Bayer and Corteva combined make up about 60% of U.S. seed sales…

… Corteva plans to ramp up competition with Bayer this year in genetically engineered seeds. This spring Corteva began selling farmers new biotech soybean seeds, partly developed by Dow, that can survive a herbicide known as 2,4-D. Corteva markets that line of seeds, under the brand name Enlist, as an alternative to Bayer’s Xtend seeds that are engineered to survive the herbicide dicamba.