DuPont Plans To Sell Its Delrin Resins Business For $1.8B: Report

DuPont de Nemours Inc DD is reportedly in advance talks with The Jordan Company to sell its chemical assets, Delrin resins unit, for around $1.8 billion.

The company may announce the acquisition deal as soon as this week, Bloomberg reported citing people familiar with the matter.

The Jordan Company is a New York-based private investment company that deals in buying and building businesses in partnership with management.

As per the report, the companies have made no final decision, and talks could still fall apart.

The sale is at par with DuPont’s focus on electronics, automotive, and water and industrial technologies industries.

Earlier this month, DuPont reported a Q2 FY23 sales decrease of 7% Y/Y to $3.09 billion, beating the consensus of $3.00 billion, and adjusted EPS was $0.85 (-3% Y/Y), above the consensus of $0.83.

Price Action: DD shares closed higher by 0.76% at $75.40 on Friday.