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Tuesday, October 20, 2009 9:15:19 AM
In any event, the Huntman offer of $415 million will not hold. This price is far too low and other interested parties will come to the auction. The $415 million is what Hamilton alone is worth. The 50% portion of the Kwinana Tiwest venture is worth at least another $250 million. Botlek is a wash and the electrolytic chemical operation add a little. So, it would be difficult to believe these assets go for less than $650 million, and that would be a great deal for the buyer at this price. So, a share price of over $1 is easily justifed, and if the assets are liquidated, perhaps $3 per share is more realistic.
I think liquidation will take place, although emerging from bankruptcy with all the assets remaining with Tronox would be a much better outcome for us shareholders!! Tronox, without all the legacy liabilities is a great company with great technology and excellent products. Interested buyers already know this.
In any event, there is still huge upside from here. Other signs that market makers are involved is the spread that remains between the A and B shares. This will all wash out soon. Most investors are now holding their shares as there is very little downside risk from here. Trading volume is almost non-existant, which is good. I'm holding my shares to the end!!
Good luck to all, your day will come.....and soon.
Recent TROX News
- Form 8-K - Current report • Edgar (US Regulatory) • 08/16/2024 01:16:41 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 09:04:59 PM
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