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TPC Group gets higher buyout offer from Innospec

Oct 8 (Reuters) - Chemicals maker TPC Group Inc said it received a buyout proposal from Innospec Inc for $721.3 million, topping an offer made by private equity firms First Reserve Corp and SK Capital Partners.

Specialty chemicals company Innospec would pursue a deal for an all-cash price of $44 to $46 per share, TPC said in a statement on Monday.

First Reserve and SK offered $40 in August.

(Reporting by Krishna N. Das in Bangalore; Editing by Don Sebastian)

((krishna.das@thomsonreuters.com)(within U.S. +1 646 223 8780 x 5798, outside U.S. +91 80 4135 5800)(Reuters Messaging: krishna.das.thomsonreuters.com@reuters.net))

Keywords: TPCGROUP OFFER/INNOSPEC