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Reuters – TPC Group Gets Higher Buyout Offer

Chemicals maker TPC Group Inc. said it received a buyout proposal from Innospec Inc. for $721.3 million, topping an offer made by private equity firms First Reserve Corp. and SK Capital Partners. Innospec offered $44 to $46 per share for the company, Reuters reported.

(Reuters) – Chemicals maker TPC Group Inc said it received a buyout proposal from Innospec Inc for $721.3 million, topping an offer made by private equity firms First Reserve Corp and SK Capital Partners.

Specialty chemicals company Innospec would pursue a deal for an all-cash price of $44 to $46 per share, TPC said in a statement on Monday.

First Reserve and SK offered $40 in August.