Private equity firm Apollo Global Management Inc has approached Tronox Holdings Plc , one of the world's largest pigment manufacturers, with a $4.3 billion all-cash offer, people familiar with the matter said on Monday.
, one of the world's largest pigment manufacturers, with a $4.3 billion all-cash offer, people familiar with the matter said on Monday.
Tronox shares were hovering around $20 on Monday morning, prior to Apollo's offer being reported. They jumped 17% to $24.02 on news of Apollo's acquisition interest.Apollo declined to comment. Tronox did not respond to a request for comment. 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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