The deal ends two years of litigation brought by a trust for governments, tribes and individuals that held claims against Tronox. "This settlement agreement with the Litigation Trust and the U.S. Government eliminates the uncertainty this dispute has created, and the proceeds will fund the remediation and cleanup of the legacy environmental liabilities and tort claims," Anadarko Chief Executive Officer Al Walker said in a statement. Anadarko said it would record a net $550 million tax benefit from the agreement. Anadarko's stock rose as high as 13 percent to $98 per share during afternoon trading on the New York Stock Exchange as word of a settlement circulated.
via Business News - Yahoo Finance http://ift.tt/1k4w5n0
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