Tronox Stock Surges on Report of $4.3 Billion Apollo Buyout Offer

 Tronox Stock Surges on Report of $4.3 Billion Apollo Buyout Offer

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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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