Announced
Financials
Sources
Tags
Friendly
Acquisition
Single Bidder
Domestic
manufacturing
chemicals
Chemicals: Diversified
United States
Majority
Tender Offer
Public
Pending
Private Equity
Synopsis
Apollo, an alternative investment manager, offered to acquire Tronox, a firm that mines, manufactures and sells titanium dioxide mineral sands and soda ash, for $4.3bn. Apollo has offered $27 per share to buy Tronox. Tronox makes titanium dioxide pigment and other chemicals used to add brightness and durability to paints, plastics and paper. The Covid-19 pandemic weighed on demand for many of Tronox’s products, but the company has said its core markets are recovering as the world’s major economies bounce back.
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