Innospec acquire all outstanding shares TPC

Innospec to acquire all outstanding shares of TPC

12:01 PM, 10th October 2012
Innospec to acquire all outstanding shares of TPC

LITTLETON, US: 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, which Innospec expects to provide equity financing for the transaction.

“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,” said Patrick Williams, President and CEO, Innospec.

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