U.S. Markets open in 4 hrs 33 mins

Innospec responds to revised First Reserve/SK Capital offer for TPC Group

Innospec (IOSP) acknowledged reports of a revised competing offer for TPC Group (TPCG) by the investment groups of First Reserve Corporation and SK Capital Partners. Responding to statements made in the investment group's press release about Innospec and its non-binding proposal, Patrick Williams, President and CEO, noted, "We object strongly to the statements they have made, some of which are either false or misleading and which reflect a significant lack of understanding of Innospec's business, its strategy and its proposal. We have no additional comment at this time, and we refer you to our previous statements and SEC filings on the matter."