U.K.’s Tronox Jumps Most in 17 Months on Report of Apollo Offer

Tronox Holdings Plc jumped as much as 24% after Reuters reported that Apollo Global Management Inc. made an offer for the U.K. maker of chemicals, paint and plastics products.

The all-cash, $27-a-share bid values Tronox at $4.3 billion, Reuters said. The London-based company has hired advisers and hasn’t decided on next steps, the outlet reported.

Tronox shares, which trade primarily in the U.S., rose 17% to $23.71 as of 12:43 p.m. in New York. The intraday peak of $25.48 marked their biggest advance since April 2020.

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