Why Kronos Worldwide, Inc.'s Share Are Up Today
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Kronos Worldwide, were up as much as 11% after its majority owner died.
So what: Harold Simmons, who owns over 80% of Kronos Worldwide through multiple entities passed away over the weekend. Simmons was a controversial figure who battled with regulators and was a political powerhouse, sometimes overshadowing his businesses.
Now what: Kronos may have been a leader of consolidation in titanium oxide under Simmons but now the company could be sold or look for other strategic options. At the very least, there will be a new leader at the helm and for today investors think that will unlock more value than Simmons could. Time will tell if that's the case.
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The article Why Kronos Worldwide, Inc.'s Share Are Up Today originally appeared on Fool.com.
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