New York-based Apollo Global Management has made a cash offer to acquire Tronox Holdings, one of the world’s largest dyestuff manufacturers, for a value of $4.8 billion, sources told Reuters.
The offer values Tronox stock at $27, knowing that the share price before this information was leaked was $20.
The share price jumped to $24 after news of Apollo Global Management’s interest in the company.
In 2019, Tronox acquired the titanium dioxide business from the National Titanium Dioxide Company known as Crystal Corporation, a subsidiary ofSaudi Manufacturing Company. Note that Tasnee is the largest shareholder in Tronox with a 24% stake through its subsidiary.
Tronox manufactures titanium dioxide pigment and other chemicals used to add luster and durability to paints, plastics and paper.
These were the details of the news Apollo Offers to Buy Partially Owned Tronox for $4 Billion for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.