• Oct. 8, 2015, 8:07 AM
    • Apollo Global Management (NYSE:APO) is exploring the feasibility of making an offer for Chemours (NYSE:CC), the former DuPont (NYSE:DD) chemical manufacturing unit, and using it as a platform for consolidating other titanium dioxide makers, Bloomberg reports.
    • APO is said to have held preliminary talks with bankers about a buyout of Chemours and then approaching other companies, including Tronox (NYSE:TROX), about a tie-up to generate scale and cost efficiencies.
    • Among potential obstacles to a deal are a tax bill for DuPont if Chemours is taken private too soon after the July spinoff, and the ~$4B in debt resulting from a payment made to DuPont prior to the split.
    Oct. 8, 2015, 8:07 AM | 7 Comments
  • Jun. 26, 2015, 5:44 PM
    • While OCI Resources (NYSE:OCIR) is not likely to attract interest from the three largest strategic players in the market, the soda ash producer could be an attractive purchase for chemical-focused P-E firms or an indirect strategic player, according to TheDeal.
    • OCI Enterprises, which owns a 75% stake in OCIR, said earlier this week it is evaluating strategic alternatives for its entire stake in the MLP.
    • Analysts say none of the three largest players in the space - Tronox (NYSE:TROX), Belgium's Solvay (OTC:SVYSF) and India's Tata Chemicals - are considered a suitable bidder for OCIR, but various P-E firms and chemical companies could take a long look.
    • OCIR could fetch 9x-9.3x EBITDA, which works out to a range of $1.15B-$1.19B, the report says.
    Jun. 26, 2015, 5:44 PM | 1 Comment
  • Feb. 4, 2015, 7:38 AM
    • Tronox (NYSE:TROX) agrees to acquire FMC Corp.'s (NYSE:FMC) Alkali Chemicals division for $1.64B, in a deal it says will hep it expand in faster-growing developing economies.
    • The Alkali Chemicals division produces natural soda ash and related products used in the glass, chemical processing and detergent industries.
    • TROX expects the acquisition to add more than $0.50/share to earnings in the 12 months following closing; the business would have contributed ~$800M of revenue for FY 2014.
    Feb. 4, 2015, 7:38 AM
  • Feb. 3, 2015, 9:41 AM
    • Tronox (TROX +10.2%) is nearing a deal to buy the soda-ash business from rival chemical company FMC Corp. (FMC +1.8%) for more than $1.5B, with an announcement coming as soon as today, WSJ reports.
    • FMC announced its intention to sell the alkali chemicals business in September when it agreed to acquire a pesticide business from Auriga Industries.
    • TROX appears to have prevailed in the auction for the FMC unit over other chemical companies and P-E firms, according to the report.
    Feb. 3, 2015, 9:41 AM