TPC Group Urges Investors To OK $850M Go-Private Deal

Law360, New York (September 10, 2012, 2:44 PM EDT) -- TPC Group Inc. on Monday urged shareholders to support an $850 million sale to New York private equity firm SK Capital Partners and Connecticut energy investment firm First Reserve Corp. that would take the Texas petrochemical product maker private, a deal that investors have blasted as inadequate.

Late last month, the private equity firms offered TPC investors $40 per share, which the company says represents a 20 percent premium over its closing price the day before rumors of a deal began swirling. Under the terms, the...
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