SK Bests Innospec In Contest For TPC | Chemical & Engineering News
Volume 90 Issue 50 | p. 22 | Concentrates
Issue Date: December 10, 2012

SK Bests Innospec In Contest For TPC

Department: Business
Keywords: acquisition, C4, butadiene

Shareholders of TPC Group, a Houston-based producer of C4 chemicals, have voted for the firm to be acquired by SK Capital Partners and First Reserve. The private equity firms jointly offered $45.00 per share, or about $700 million. The chemical maker Innospec earlier withdrew its Nov. 15 offer to acquire TPC for $47.50 per share, saying it was unable to structure the deal the way it wanted. SK and First Reserve first offered $40.00 per share for TPC in August.

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