Investor Sandell opposes TPC Group's deal to go private

Newswire

Aug 28 (Reuters) - Sandell Asset Management, one of TPC Group Inc's top shareholders, said it would vote against the chemical company's $627.2 million deal to go private, calling it "grossly" undervalued. TPC, which produces butadiene used in making synthetic rubber for tires and other automotive products, agreed to be bought by private equity firms First Reserve Corp and SK Capital Partners on Monday. The company's shares were up 1.5 percent at $40.37 on ...

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