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Business
SK Bests Innospec In Contest For TPC
by Alex Scott
December 10, 2012
| A version of this story appeared in
Volume 90, Issue 50
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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