TPC Group Gets Higher Offer from First Reserve, SK Capital


Chemical maker TPC Group Inc. said private equity firms First Reserve Corp. and SK Capital Partners raised their offer price for the company by 12.5 percent, days after it got a rival proposal from Innospec Inc. The offer price has been raised by $5 to $45 per share, TPC said in a statement.

(Reuters) – Chemical maker TPC Group Inc said private equity firms First Reserve Corp and SK Capital Partners raised their offer price for the company by 12.5 percent, days after it got a rival proposal from Innospec Inc.

The offer price has been raised by $5 to $45 per share, TPC said in a statement.

Chemicals maker Innospec last month offered to pay $44 to $46 per TPC share in cash.