Reuters reveals buyout firm Apollo makes $4.3 billion offer to buy Tronox

Tronox Holdings Plc shares rose as much as 23% after Reuters revealed that private equity firm Apollo Global Management Inc had approached the pigment manufacturer with a $4.3 billion all-cash offer. Tronox makes titanium dioxide pigment and other chemicals used to add brightness and durability to paints, plastics and paper. The COVID-19 pandemic weighed on demand for many of Tronox’s products, but the company has said its core markets are recovering as the world’s major economies bounce back.