TPC Group gets higher buyout offer from Innospec

Thu Nov 15, 2012 8:03am EST

Nov 15 (Reuters) - Chemical maker Innospec Inc raised its bid for peer TPC Group Inc, aiming to fend off a rival offer from private equity firms First Reserve Corp and SK Capital Partners.

Innospec raised its bid to $47.50 per share in cash, from its earlier proposal of $44.00 to $46.00 per share.