Oct. 1, 2014, 8:44 AM
- Innospec (NASDAQ:IOSP) agrees to acquire oil and gas services company Independence Oilfield Chemicals from CSL Capital Management; after an initial $100M payment, remaining payments are performance related and payable over the next two years.
- Houston-based IOC has current sales of ~$150M/year and has assets based in the Eagleford, Bakken, Barnett, Niobrara and Marcellus basins.
Dec. 3, 2012, 9:14 AM
Nov. 19, 2012, 3:24 PMFirst Reserve and SK Capital believe their $45/share offer for chemical maker TPC Group (TPCG) fairly values the company, and they intend to close the deal by Christmas, Reuters reports. Innospec (IOSP) raised its proposed bid for TPC to $47.50/share last week, but it may be unable to close a deal this year; at least two major shareholders say $45/share isn't enough. | Comment!
Nov. 15, 2012, 8:24 AMChemical 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. | Comment!
Nov. 8, 2012, 12:51 PM
Nov. 8, 2012, 8:30 AMTPC Group (TPCG +3.7% to $46.52) has become the subject of a bidding war as P-E firms First Reserve and SK Capital Partners increase their combined offer by $5 to $45, valuing the chemicals maker at $705.5M. TPC recommends the proposal and breaks off talks with Innospec (IOSP), which last month bid $44-$46/share. TPC shares have climbed almost 12% since the P-E firms' first bid in August. (PR) | Comment!
Oct. 8, 2012, 7:52 AM
IOSP vs. ETF Alternatives
Innospec Inc develops, manufactures, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. Its products are sold to oil and gas exploration companies and fragrance companies.
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