Last month, it was General Electric that split into three companies. Now it’s DuPont. The company, which dates back to 1802, said Wednesday it will split into three publicly traded firms — one focused on water, one on electronics and the third on its traditional chemicals business.

There’s been a fair amount of deconglomeration going on lately — Johnson & Johnson did it, for example, as well as a number of other drug companies.

In a relationship, when partners realize they don’t share interests anymore, it may be time to break up. That’s kind of what happened to the divisions of DuPont, said Jarrad Harford at the University of Washington. 

“They just got bigger and tried new things and got to the point where they had some fairly disparate businesses. And it, it made sense to let them kind of go their own way and focus,” Harford said.

Focus on themselves for a bit, on what they do best. When a firm produces fewer, more specialized products, it’s easier for investors to look under the hood and judge its value, said Matt Billett at Indiana University’s Kelley School of Business.

“You’re going to get far more investor transparency when you have separate companies,” said Billett.

After a breakup, those separate companies often wind up being worth more than the parent conglomerate was. Take Fortune Brands. For years, the firm was a many-headed beast.

“Everything from security to adult beverages to golf equipment,” said Billett.

Master Lock. Jim Beam whiskey. Titleist golf balls. When Fortune Brands split in 2011, investors rewarded the new, more focused companies with double-digit run-ups in their stock prices. Laura Born at the University of Chicago calls this phenomenon the diversification discount.

“The idea is that the market will not give you full credit for the full growth of your businesses when you’re part of a mishmash,” Born said.

Unwinding those corporate mishmashes has been happening since the ’80s, usually with good results, Born said. Another factor, she said, is contributing to the more recent spinoffs.

“We have a very, very hostile antitrust regime right now. In the boardroom, you know, you call your antitrust adviser lawyer before you call your investment banker.”

Born said that rather than deal with legal headaches, some conglomerates may just decide to break themselves up.