TPC Group Shares Soar on Report of Planned Leverage Buyout

Shares in TPC Group (TPC) soared 16% on July 25, closing at $38.97/share, following a Bloomberg report that said the butadiene maker was in discussions to go private in a leveraged buyout. The report says that TPC may get $40/share in the deal, citing unnamed sources. The deal would value at TPC at roughly $600 million excluding debt. TPC could not be reached for comment. TPC is a leading producer of C4 and derivatives, the most significant of which is butadiene. TPC’s butadiene production was roughly 1.2 billion lbs for the twelve-months ending September 30...

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