Simmons' Death May Pave Way for Kronos (KRO) Takeover - Analyst (TROX)

December 30, 2013 3:14 PM EST
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Price: $12.69 +0.55%

Rating Summary:
    2 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Kronos Worldwide (NYSE: KRO) is up today as the company is now back in play for a potential takeover bid.

According to Citi credit analyst James Finnerty, the death of Harold Simmons might have opened the door. Simmons' estate owned most of Contran Corporation, which holds a vast majority of Kronos stock.

One company that might make a run at Kronos is Tronox Limited (Nasdaq: TROX), which recently raised $1.5 billion from a term loan issued last March. Kronos market value is currently around $2.2 billion.

Shares of Kronos are up 8.7 percent.

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