Innospec's $720M Offer For TPC Group Bests Earlier PE Bid

Law360, New York (October 9, 2012, 12:02 PM EDT) -- TPC Group Inc. has received a buyout bid worth as much as $720 million from Innospec Inc. that bests an earlier go-private offer from a pair of private equity firms, the Texas petrochemical product maker said Monday, paving the way for a bid war.

Private equity firms SK Capital Partners and First Reserve Corp. leveled an offer in August that valued the company at $627 million and included the assumption of debt for a total $850 million price tag. That deal, approved by TPC’s board, has...
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