Shares of Tronox Holdings closed sharply higher Monday following a report that said the pigment manufacturer received an all-cash offer of $4.3 billion from private-equity giant Apollo Global Management.
On a per-share basis, the offer was for $27 a share, Reuters reported, citing sources who spoke on condition of anonymity. Tronox has hired advisers to consider the bid.
Efforts to reach Tronox for comment were unsuccessful.
Tronox (ticker: TROX) shares rose 11.05% on Monday to close at $22.81. The stock traded as high as $25.48....More>>>