Simpson Thacher Aids PE Pair In $713M TPC Buyout

Law360, New York (December 5, 2012, 3:15 PM EST) -- Shareholders in Texas specialty chemicals outfit TPC Group Inc. on Wednesday approved a sweetened $713 million buyout bid by a pair of private equity firms, ending a saga that included shareholder backlash and a rival bidder with a more lucrative proposal.

At a special shareholder summit, the holders of 77 percent of the company's shares threw their stakes behind the go-private proposal lobbed last month by SK Capital Partners and First Reserve Corp., both headquartered in Connecticut. The investors will receive $45 per share, a 34...
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