U.S. Markets open in 6 hrs 56 mins
  • Crude Oil

    71.17
    +0.88 (+1.25%)
     
  • Gold

    1,764.00
    +0.20 (+0.01%)
     
  • Silver

    22.22
    +0.05 (+0.23%)
     
  • EUR/USD

    1.1741
    +0.0014 (+0.1174%)
     
  • 10-Yr Bond

    1.3090
    0.0000 (0.00%)
     
  • Vix

    25.71
    +4.90 (+23.55%)
     
  • GBP/USD

    1.3681
    +0.0022 (+0.1601%)
     
  • USD/JPY

    109.5890
    +0.1690 (+0.1544%)
     
  • BTC-USD

    44,590.88
    -3,435.44 (-7.15%)
     
  • CMC Crypto 200

    1,070.87
    -63.51 (-5.60%)
     
  • FTSE 100

    6,903.91
    -59.73 (-0.86%)
     
  • Nikkei 225

    29,839.71
    -660.34 (-2.17%)
     

U.K.’s Tronox Jumps Most in 17 Months on Report of Apollo Offer

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

(Bloomberg) -- Tronox Holdings Plc jumped as much as 24% after Reuters reported that Apollo Global Management Inc. made an offer for the U.K. maker of chemicals, paint and plastics products.

The all-cash, $27-a-share bid values Tronox at $4.3 billion, Reuters said. The London-based company has hired advisers and hasn’t decided on next steps, the outlet reported.

Tronox shares, which trade primarily in the U.S., rose 17% to $23.71 as of 12:43 p.m. in New York. The intraday peak of $25.48 marked their biggest advance since April 2020.

Other companies that produce titanium dioxide, a pigment used in white paints, also gained. In 2015, Apollo examined the feasibility of an offer for Chemours Co., people with knowledge of the matter said at the time.

A spokeswoman for Tronox didn’t immediately respond to request for comment.

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.