Will there be any news about a new offer to acquire TROX at $27+/share in 2022?
Jun 26, 2022 - 09:56
There were a record M&A last year (63,000 deals) , and this year is on pace for a similar number, but TROX’s leadership said during their 2022 Investor’s Day that they think TROX is worth > $25/sh, and it’s rumored that they rejected a $27/sh offer from Apollo last year.
Getting, say $30, today would represent at 78% premium over the current market price which I don’t think is likely to happen in the current bearish/inflationary situation, and I think it’s unlikely that the situation will change much in the remainder of 2022. Two scenarios I see:
(base) No (optimistic) Hostile takeover via tender offer