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Why TPC Group's Shares Jumped

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October 8, 2012 | Comments (0)

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of TPC Group (Nasdaq: TPCG  ) have jumped 12% today after getting a buyout offer.

So what: Innospec (Nasdaq: IOSP  ) offered $44-$46 per share for the company in a non-binding all-cash offer. The company will fund the deal through equity financing from a Blackstone fund.

Now what: The proposal tops a previous offer from two private equity firms; TPC's board says they are considering the offer. For investors, it's great news that there's a bidding war, but it may be time to cash out some chips. Shares are currently trading at $45.60, close to the top end of the offer range. Betting on an increased offer is risky and I would be a seller today to reduce the risk of a deal falling through.

Interested in more info on TPC Group? Add it to your watchlist by clicking here.

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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Related Tickers

12/31/1969 7:00 PM
TPCG $0.00 Down +0.00 +0.00%
TPC Group Inc. CAPS Rating: ***
IOSP $41.15 Up +0.30 +0.73%
Innospec, Inc. CAPS Rating: *****

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