Tronox Inc. (TROX)

[newtechinvestor]

IMO, it's fully stacked in our favor now.

Against Sale:
1. Equity holders
2. bond holders
3. PBGC
4. US Government and taxpayers
5. Tronox

For Sale:

1. Huntsman
2. Exxaro, Tronox's joint venture in Australia

Secured lender (DIP lender) is "secured" regardless so they are non-factor other than maybe get paid today instead tomorrow.
Only entity gaining from the sale (other than $15.4mil break up fee) is Huntsman. That's a tall order for Huntsman. If the deal goes through there will be significant loss and harm for many organizations whereas if the deal is nixed no loss for anyone other than loss of opportunity for Huntsman to make a killing.

Emergency motion to increase Due Diligence Cost associated with financing was big surprise and quick approval was huge news. I don't know about you, but I get the impression from reading the filing requesting increase in fund that the Financing is already in the bag.

It's really looking good for us.