Chemical maker Innospec (IOSP) raises its bid for TPC Group (TPCG) to $47.50/share, aiming to...

|About: Innospec Inc. (IOSP)|By:, SA News Editor

Chemical maker Innospec (IOSP) raises its bid for TPC Group (TPCG) to $47.50/share, aiming to fend off a rival offer from P-E firms First Reserve and SK Capital. IOSP's earlier proposal was $44-$46. The offer continues to be supported by funds affiliated with Blackstone (BX), which will provide equity financing for the deal. TPCG +3.8% premarket.