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DuPont to sell 17 million shares


DuPont to sell 17 million shares

DuPont is to sell some of its own shares into the market, after redeeming 156 million shares held by Seagrams, the drinks and entertainment company, last month. DuPont will sell 17 million shares at $65.50 each, 13.6 million in the US and the rest internationally. The proceeds will be used to pay down short-term debt taken on following the Seagram redemption. Seagram used some of the cash to buy MCA, the Hollywood entertainment conglomerate