Notes On Tronox/Exxaro
Sep30

Notes On Tronox/Exxaro

This week saw a good old fashioned back-integration deal in the chemical industry. I wrote a C&EN Latest News on the merger of Tronox with Exxaro’s Mineral Sands unit that includes the essential details. Not every factoid can make it into limited space, thus here are a few more observations: Tronox’s back-integration isn’t unique. DuPont runs mining operations near Jacksonville Florida. Cristal, which is largely the former...

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Bad Day On Wall Street, Especially For Huntsman

The Dow Jones Industrial Average’s 513 point, 4.3% decline was bad yesterday. Huntsman Corp’s $5.58, 30.5% decline was even worse. (There is no typo in the preceding sentence.) Such declines among large chemical companies are pretty rare. In fact, they mostly happen to target companies of acquisition attempts that go up in smoke. Huntsman has actually had similar declines. One was in June 2008, when Hexion reneged on its acquisition...

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Chemicals As Seen On TV

Watching cable television you may have noticed the following commercial. It is always neat to see the chemical industry in the popular media. It is neater to impress your friends and family with what you know about the chemistry that appears on television. They might not be so interested. I tried rousing my little girl out of bed when the commercial came on. “Come on, Daddy, I have school tomorrow,” was her response. No fun at all....

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Lyondell Is Out of Bankruptcy

A little follow up: LyondellBasell has emerged from bankruptcy on Friday as planned. It has also filed a Form 10 with the SEC, a document that sheds some more light on what the new LyondellBasell will look like. From that document, we learn that Apollo Management will have the largest stake in the company with 25% of shares. LyondellBasell’s former owner Access Industries will have 7% and Ares Management will have 7%. The Royal Bank...

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