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Titanium dioxide producer Venator Materials has filed a lawsuit in Delaware Superior Court against Tronox for failing to honor a $75 million “break fee” after Tronox sold Cristal’s North American TiO2business to Ineos—and not Venator. Venator says it signed a preliminary contract with Tronox to acquire the business before Ineos made its move. “Tronox must now pay the break fee,” Venator CEO Simon Turner says. Ineos acquired the Cristal business in March for $700 million.
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