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Tronox ruling - removing uncertainty for Anadarko


Tronox ruling - removing uncertainty for Anadarko

Report summary

On 12 December 2013, Kerr-McGee was found provisionally liable of fraudulent conveyance relating to the 2006 spin-out of Tronox and its subsequent bankruptcy.  The final liability could range between US$5 billion and US$14 billion.  Anadarko, which acquired Kerr-McGee in 2006, has stated it will appeal.  News of the ruling shaved 6.4% (US$2.6 billion) off Anadarko's market value, compounding a 12% (US$5.9 billion) fall in the two preceding months.

What's included?

This report includes 1 file(s)

  • Tronox ruling - removing uncertainty for Anadarko PDF - 500.34 KB 5 Pages, 0 Tables, 4 Figures

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

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  • Executive summary
  • Tronox bankruptcy
  • Top quartile outlook; but portfolio management may be required
  • Appendix
    • Kerr-McGee and Tronox history

In this report there are 4 tables or charts, including:

  • Executive summary
    • Evolution of share price vs peer group
    • Benchmark: Market premium to WM base-case
  • Tronox bankruptcy
  • Top quartile outlook; but portfolio management may be required
    • Net debt outlook scenarios
    • Benchmark: Gearing ratio (net debt / net debt +SE)
  • Appendix
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

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