Why Shares of Chemours Are Soaring Today
Shares of Chemours (NYSE: CC) traded up 13% on Tuesday after former parent DuPont (NYSE: DD) said it is likely to renegotiate the companies' separation agreement. Chemours has sued DuPont over the environmental liabilities it retained in the original agreement, but the company's initial court efforts have not been promising.
Chemours, a major supplier of titanium dioxide, was spun out of DuPont in 2015 and held on to a lot of legacy environmental liabilities as part of the separation agreement. Chemours has argued that DuPont's estimates of how much its former subsidiary would be on the hook for were off base and were not prepared in good faith.
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Source Fool.com
