TPC Group gets higher offer from First Reserve, SK Capital

Thu Nov 8, 2012 7:42am EST

Nov 8 (Reuters) - Chemical maker TPC Group Inc said private equity firms First Reserve Corp and SK Capital Partners raised their offer price for the company by 12.5 percent, days after it got a rival proposal from Innospec Inc.

The offer price has been raised by $5 to $45 per share, TPC said in a statement.

Chemicals maker Innospec last month offered to pay $44 to $46 per TPC share in cash.