Reuters - Bidding War for TPC Group Heats Up

Chemical maker Innospec Inc. raised its bid for peer TPC Group Inc. to about $745 million, aiming to thwart a rival offer from private equity firms First Reserve Corp. and SK Capital Partners, Reuters reported. Innospec raised its bid to $47.50 per share in cash, from its earlier proposal of $44.00 to $46.00 per share. The offer is being supported by Blackstone Group, which would provide equity financing.

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