Market Currents
Closing arguments concluded yesterday in Tronox's (TROX -3%) case against Anadarko (APC -0.9%),...
-
Thursday, December 13, 2012, 12:11 PM ETClosing arguments concluded yesterday in Tronox's (TROX -3%) case against Anadarko (APC -0.9%), and Jefferies notes one of court's questions implied $2B-$3B would be the minimum acceptable to the U.S. for clean-up. Jefferies believes a judgment against APC in this range would be a bullish outcome, as it estimates at least $4B is priced into APC shares.
Other date
Latest Energy & Materials Articles
This news story has 1 comment:
Putting a smaller range on settlement talks, if still possible before Judge Gropper makes his ruling - February 2013 ?
Anadarko contends a judgement range of zero to $1.4B.
Remain long shares, closed out a short option position today on the DEC 21 72.5 calls by buying the calls and selling the JAN 16 75 calls at a modest credit.