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Innospec Bids for TPC Group

All-cash move is supported by TPC.

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By: TOM BRANNA

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Innospec Inc. has submitted a non-binding proposal to acquire all outstanding shares of common stock of TPC Group for an all-cash purchase price in the range of $44 to $46 per share. The offer is supported by investment funds affiliated with Blackstone Capital Partners VI, L.P. (Blackstone), which Innospec expects to provide equity financing for the transaction.

Patrick Williams, president and CEO of Innospec said, “We believe that TPC is a good strategic and synergistic fit with Innospec. At this stage, our proposal is subject to certain conditions, including completion of our due diligence, Innospec obtaining all necessary internal approvals, and agreeing to definitive documentation. We do not anticipate making a further statement until such time as our process is complete.”

TPC Group is a global leader in providing a diverse range of quality products to chemical and petroleum-based companies worldwide. The company calls itself a leader in C3 and C4 hydrocarbons.


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