The M&A race in China's titanium dioxide industry appears to be heating up despite the recent turbulence in China's stock market as leading producer CNNC TD announced on July 14 that it was negotiating a deal worth more than RMB200M (US$32.7M). CNNC TD first gave an indication that it was planning a deal on July 7, when it announced a trading halt on its stocks, citing plans for a major activity. All four of China's listed TiO2 companies are now under trading halts. On July 14, the company applied to extend its trading halt on the grounds that its negotiations were ongoing and the outcome remained uncertain. It also specified that the deal was related to investing more than RMB200M in China's TiO2 industry.
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