It very well could be the driving force behind the recent surge, but as seen just recently in CEMJQ ,a valuation fight that seems to be 'in the bag' is anything but.
It also seems odd because the KRO offering was announced as far back as Oct. 12, it certainly seems to be very delayed market reaction ( two weeks) to this news as far as Tronox's present value.
KRO's common equity value is partially based upon a present share structure that is inflated by a very high percentage of inside ownership in KRO if I'm not mistaken, something that TRXAQ-BQ does not have.
And while some of that value is reflected in the present T1o2 market and an all time high Specialty Chemical Index, there will be some good arguements against using the KRO offering in a valuation fight from Kirkland and Paul Weiss.
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