Corteva Spins Off Seed Business Into New Company Vylor

Corteva Inc. completed the spinoff of its seed and genetics business into a new independent company, Vylor Inc., on October 1, 2026. Vylor, which includes the Pioneer and Brevant brands, began trading on the New York Stock Exchange under the symbol VYLR, closing its first day at approximately $68.26. Shareholders of record as of September 24 received one Vylor share for every Corteva share owned.

The separation resulted in a mechanical price drop for Corteva shares, which fell from approximately $77.65 to close at $12.56 as the value of the seed business was stripped from the ticker. Corteva now operates as a pure-play global crop protection company with nearly 9,000 employees. The transaction included a debt exchange where eligible holders tendered approximately $1.4 billion in senior notes for corresponding Vylor notes.

Following the completion, fifteen U.S. states and Guam filed a lawsuit in Indiana alleging the spinoff is a fraudulent transfer designed to shield assets from creditors with PFAS claims. Corteva denied these allegations, stating the company never manufactured or sold PFAS products. The spinoff proceeded after a U.S. district court previously denied a bid by California to block the separation, effectively undoing the 2019 combination of seeds and crop protection that occurred during the DowDuPont split.