TPC Group TPCG, today announced that it has
filed preliminary proxy materials with the Securities and Exchange Commission
("SEC") in connection with the definitive merger agreement between TPC Group
and investment funds sponsored by First Reserve Corporation and SK Capital
Partners. Under the terms of the agreement, previously announced on August 27,
2012, TPC Group stockholders are eligible to receive $40.00 per share in cash,
which represents a 20 percent premium to TPC Group's closing stock price on
July 24, 2012, the last unaffected trading day prior to media reports of a
possible acquisition of TPC Group.
The TPC Group Board of Directors encourages all stockholders to read the
preliminary proxy statement and its annexes, including the merger agreement,
carefully and in its entirety. The following information is derived from the
preliminary proxy statement.
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