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Chemical Week Magazine :: Business & Finance :: United States/Americas

Private Equity Firms to Acquire TPC Group for $850 Million

5:34 AM MDT | August 31, 2012 | —Natasha Alperowicz and Robert Westervelt

McDonnell: Butadiene maker seeks to go private. Private equity firms First Reserve (Houston) and SK Capital Partners (New York) have reached an agreement to acquire TPC Group in a deal valued at $850 million, confirming July reports that TPC intended to go private. TPC Group stockholders will receive $40/share, a 20% premium to TPC’s closing stock price on July 24, 2012, the last trading day prior to media reports of a possible acquisition of TPC. The private equity investors say they expect to retain current management. TPC expects to hold a special...

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