DuPont de Nemours Inc. DD, -3.93%, Corteva Inc. CTVA, -4.60% and Chemours Co. CC, -4.83% announced Friday an agreement to settle legal disputes, and to establish a cost-sharing arrangement related to PFAS liabilities. Under terms of the agreement, expenses will be split 50-50, with DuPont and Corteva responsible for one half and Chemours responsible for the other half. Expenses will be capped at a total of $4 billion, and the terms will not exceed 20 years. For DuPont’s and Corteva’s total share of the expenses of up to $2 billion, DuPont’s share would be about $1.36 billion and Corteva’s is about $640 million. “The agreement will provide a measure of security and certainty for each company and our respective shareholders using a transparent process to address and resolve any potential future legacy PFAS matters,” the companies said in a statement. Separately, the companies agreed to settle the matters in the Ohio multi-district PFOA litigation for $83 million, with DuPont contributing $27 million, Corteva contribution $27 million and Chemours contributing $29 million. Over the past 12 months, shares of DuPont have rallied 33.2%, Corteva have climbed 47.9% and Chemours have advanced 66.1%, while the S&P 500 SPX, +0.03% has gained 16.0%.
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