DuPont de Nemours, Inc. has officially cancelled its plan to spin off its Water business, initially announced on May 22, 2024. The proposed separation was intended to be tax-free for shareholders, with the Water segment generating approximately $1.5 billion in net sales in 2023. The transaction, which did not require a shareholder vote, was contingent upon customary conditions such as board approval, regulatory clearances, and the filing of necessary SEC documents.
Originally, DuPont aimed to complete the spin-off within 18 to 24 months, with legal advisement from Skadden, Arps, Slate, Meagher & Flom LLP and financial guidance from Centerview Partners LLC and Goldman Sachs & Co. LLC. However, the company has decided to retain its Water business, maintaining its position as a diversified industrial leader. DuPont did not specify the reasons for the cancellation but affirmed its commitment to its existing business structure.
