Reuters: Global Markets: Innospec withdraws proposal to buy TPC Group

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Innospec withdraws proposal to buy TPC Group Dec 3rd 2012, 14:18 Mon Dec 3, 2012 9:18am EST (Reuters) - Innospec Inc (IOSP.O) withdrew its offer of about $745 million for chemical maker TPC Group Inc (TPCG.O), saying it was in the best interests of its shareholders. "We are unable to conclude a deal structure in a manner where we are totally satisfied with the value creation for our shareholders," Innospec Chief Executive Patrick Williams said. TPC Group shares fell 6 percent before the bell, while Innospec shares were unchanged.

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