Innospec Indicates Interest in Acquiring TPC Group
09 Octobre 2012 - 3:48PM
Innospec Inc. (Nasdaq:IOSP) has today announced that it has
submitted a non-binding proposal to acquire all outstanding shares
of common stock of TPC Group (Nasdaq:TPCG) for an all-cash purchase
price in the range of $44 to $46 per share. The offer is supported
by investment funds affiliated with Blackstone Capital Partners VI,
L.P. (Blackstone), which Innospec expects to provide equity
financing for the transaction.
Patrick Williams, President and CEO of Innospec said, "We
believe that TPC is a good strategic and synergistic fit with
Innospec. At this stage, our proposal is subject to certain
conditions, including completion of our due diligence, Innospec
obtaining all necessary internal approvals, and agreeing to
definitive documentation. We do not anticipate making a further
statement until such time as our process is complete."
For further information, please consult the Form 8-K Current
Report, which Innospec has filed with the Securities and Exchange
Commission providing additional information regarding its proposal.
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company
with approximately 850 employees in 20 countries. Innospec
manufactures and supplies a wide range of specialty chemicals to
markets in the Americas, Europe, the Middle East, Africa and
Asia-Pacific. Innospec's Fuel Specialties business specializes
in manufacturing and supplying the fuel additives that help improve
fuel efficiency, boost engine performance and reduce harmful
emissions. Innospec's Performance Chemicals business provides
effective technology-based solutions for our customers' processes
or products focused in the Personal Care; Household, Industrial
& Institutional; and Fragrance Ingredients markets. Innospec's
Octane Additives business is the world's only producer of tetra
ethyl lead.
Forward-Looking Statements
This press release contains certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical
facts included or incorporated herein may constitute
forward-looking statements. Such forward-looking statements
include statements (covered by words like "expects," "anticipates,"
"may," "believes" or similar words or expressions), for example,
which relate to operating performance, events or developments that
we expect or anticipate will or may occur in the future (including,
without limitation, any of the Company's guidance in respect of
sales, gross margins, pension liabilities and charges, net income,
growth potential and other measures of financial
performance). Although forward-looking statements are
believed by management to be reasonable when made, they are subject
to certain risks, uncertainties and assumptions, and our actual
performance or results may differ materially from these
forward-looking statements. Additional information regarding
risks, uncertainties and assumptions relating to the Company and
affecting our business operations and prospects are described in
the Company's Annual Report on Form 10-K for the year ended
December 31, 2011, and other reports filed with the U.S. Securities
and Exchange Commission. You are urged to review our
discussion of risks and uncertainties that could cause actual
results to differ from forward-looking statements under the heading
"Risk Factors." The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law.
For more information about Innospec, please visit our website at
www.innospecinc.com.
CONTACT: Brian Watt
Innospec Inc.
+44-151-356-6241
Brian.Watt@innospecinc.com
Robert D. Ferris
RF|Binder Partners
+1-212-994-7505
Robert.Ferris@RFBinder.com
Peter Rose
The Blackstone Group
+1 212 583 5871
rose@blackstone.com
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