Tronox Inc. (TROX)

[ofirm]

I tend to be on the conservative side, so I know exactly where you
are coming from. Putting that aside, the valuation for tronox
seems rather low. kronos has ev of close to $3BN before the
offering with the same amount of equity and with 50% more in
sales than kronos and kronos has the advantage that, being after
bk, they just cleared any legacy liability they had and the
favorable terms on their bk exit loan will increase cashflow
going forward by quite a bit.
I have no clue about how the process will end (I do know how
corrupt the legal system is), but it should be hard to not look
at any comperables, especially if former equity holder could
potentially hold everyone else hostage and keep the distress
investors from their loot.
Hope I'm right, but I can fully understand where you are coming
from.