Hamilton pigment plant
Courtesy Tronox
Shares of Tronox Holdings were jumping 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.
Immediate efforts to reach Tronox for comment were unsuccessful.
Tronox (ticker: TROX) shares rose 13.68% on Monday to $23.36. The stock traded as high as $25.48 earlier in the session.
Eight analysts surveyed by FactSet rate Tronox stock at Overweight, with an average price target of $25.88.
Apollo Global (APO) was up 1.56%.
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