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Tronox has the added disincentive of absorbing all of Kerr-McGee's legacy chemical subsidiaries, and their attendant liabilities _ including 12 Environmental Protection Agency Superfund sites. Tronox said in its prospectus that it has set aside reserves of $239.4 million to pay for its environmental liabilities.
Union Drilling Inc. closed at $14.41 a share on Nasdaq, up 3 percent from its offer price of $14 a share.
The Bridgeville, Pa.-based contract driller priced its 8.8 million shares below the expected $16 to $18 range set by underwriters.
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