WYNYARD, UK, June 17, 2019/PRNewswire/ — Venator Materials PLC (“Venator”) (NYSE: VNTR) today responded to allegations contained in the answer and counterclaims filed by Tronox Limited (“Tronox”) in response to Venator’s earlier lawsuit against Tronox in Delaware Superior Court. In Venator’s lawsuit, which arises from Tronox’s refusal to honor its contract to pay a $75 million “Break Fee” to Venator upon conditions which have now been met, Venator seeks, among other relief, a judgment for $75 million. Tronox today filed an answer to Venator’s lawsuit and has included counterclaims suggesting Venator is liable for not concluding negotiations that Tronox prematurely terminated while Venator was continuing to seek FTC approval for its proposed acquisition of Ashtabula.
Simon Turner, President and CEO of Venator, commented: “Tronox has been a disappointing counterparty, failing to honor its commitment to Venator and now inventing counterclaims the evidence will show are detached from the actual facts. We look forward to our day in court.”
The case number for Venator’s suit against Tronox is N19C-05-117 EMD [CCLD].