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TPC Group gets rival buyout offer from Innospec

By Washington Examiner
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HOUSTON (AP) — TPC Group, which makes fuel, rubber and other products from petrochemicals, says it has received a higher buyout offer than it has already accepted from another suitor. Its shares jumped 11 percent.

TPC Group Inc. said Monday that Innospec Inc. is proposing to buy its shares for between $44 and $46 per share. That would value TPC in a range of approximately $691 million to $722 million.

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