Venator Wins Lawsuit against Tronox
Venator Materials has won a $75 million lawsuit against Tronox in a case over a break fee contained in an exclusivity agreement entered into in July 2018 relating to the latter’s merger with Cristal.
The Superior Court of Delaware ruled in favor of the former Huntsman business, rejecting Tronox’s counterclaim for damages.
Tronox was required to sell Cristal’s North American assets to resolve US Federal Trade Commission competition concerns over the takeover of the Saudi Arabian titanium dioxide producer. When filing the lawsuit in May 2019, Venator claimed that Tronox abruptly terminated discussions and instead pursued a deal with Ineos, which eventually bought the business.
Expressing its disappointment with the judge’s decision, Tronox said it is studying the ruling and whether to appeal.
The Superior Court decisions are can be appealed to the Delaware Supreme Court. Venator will seek interest from May 2019.
Author: Elaine Burridge, Freelance Journalist
