First Reserve, SK Capital to Acquire TPC for $850 Million

TPC Group announced today that it has entered into a definitive merger agreement with investment funds sponsored by First Reserve, a leading global investment firm dedicated to the energy industry, and SK Capital Partners, a U.S.-based private investment firm focused on the chemicals sector. The move confirms earlier reports that TPC intended to go private. Under the terms of the merger agreement, TPC Group stockholders will receive $40.00 per share, in cash, for each share of TPC Group common stock that they own. The transaction, which is valued at...

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