PE Firms Strike $850M Deal To Take TPC Group Private

Law360, New York (August 27, 2012, 6:06 PM EDT) -- New York private equity firm SK Capital Partners and Connecticut energy investment firm First Reserve Corp. have agreed to acquire Texas petrochemical products maker TPC Group Inc. in an $850 million take-private deal, the companies said Monday.

SK Capital and First Reserve said they will pay TPC Group stockholders $40 per share in cash. The proposed transaction price is about a 1.2 percent premium over TPC Group's closing price of $39.53 Friday on the NASDAQ Stock Exchange. 

The deal values Houston-based TPC Group, which produces and...
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