Issue Date: August 1, 2016
Greenlight sees value in Chemours
The hedge fund Greenlight Capital disclosed in its second-quarter report to investors that it purchased a stake in the embattled chemical maker Chemours. Greenlight says it bought part of the stake in late 2015 when Chemours’s stock fell in reaction to low titanium dioxide prices. It bought the rest last month after the short seller Citron Research suggested Chemours is headed for bankruptcy in the wake of lawsuits related to perfluorooctanoic acid contamination. Greenlight says it believes Chemours’s debt and legal liabilities are manageable.
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