DuPont de Nemours, Inc. (DD): M&A transaction — DuPont completes $11B sale of Mobility & Materials business to Celanese

DuPont de Nemours, Inc.

Sale completed for $11B cash; proceeds use to be discussed on Q3 earnings call Nov 8.
Randy Stone, President of DuPont Mobility & Materials, left DuPont and transferred to Celanese.
M&M business results reclassified as discontinued operations from Q1 2022; pro forma statements filed.
Pro forma balance sheet reflects net cash of $10.5B from M&M sale; Delrin divestiture pending.

item 2.01 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Randy Stone

President of DuPont Mobility & Materials

DD · DuPont de Nemours, Inc.

Effective: 2022-11-01
Filed: November 2, 2022, 7:59 PM ET

Effective November 1, 2022, and in connection with the closing of the Transaction, Randy Stone, who served as President of DuPont Mobility & Materials, terminated employment with DuPont and transferred employment with the M&M Business to Buyer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Randy Stone departed as President of DuPont Mobility & Materials at DuPont de Nemours, Inc..

Action: terminated employment and transferred employment
Role: President of DuPont Mobility & Materials

Exact text from the filing

Effective November 1, 2022, and in connection with the closing of the Transaction, Randy Stone, who served as President of DuPont Mobility & Materials, terminated employment with DuPont and transferred employment with the M&M Business to Buyer.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

DuPont de Nemours, Inc. completed a disposition involving Celanese Corporation for $11 billion in cash (closed 2022-11-01).

Action: disposition
Counterparty: Celanese Corporation
Consideration: $11 billion in cash
Closing: 2022-11-01

Exact text from the filing

DuPont (NYSE:DD) today completed the previously announced divestiture of the majority of its former Mobility & Materials segment (the “M&M Business” or the “M&M Divestiture”) to Celanese for a purchase price of $11 billion in cash, subject to customary transaction adjustments in accordance with the transaction agreement dated February 17, 2022.

View on SEC.gov

5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

DuPont de Nemours, Inc. filing history →

Source: SEC EDGAR

accession 0001666700-22-000071

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