Australia's InvoCare eyes best week in 2 months on higher offer from TPG

InvoCare

19/05/2023 03:52

** Shares of InvoCare  IVC.AX  have climbed 11.5% so far in
the week, set for best weekly gain in two months 
    ** Funeral services provider on Monday received a higher
A$1.86 bln ($1.26 bln) takeover offer from TPG Global 
    ** The offer came after TPG withdrew a buyout bid last month
as IVC did not grant due diligence access 
    ** The revised deal of A$13.00 per share represented a 17.2%
premium to IVC's last closing price on Friday 
    ** IVC shares rise as much as 0.5% to A$12.42 on Friday
    ** Stock had risen 12.1% this year, as of last close 
    



($1 = 1.4743 Australian dollars)

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InvoCare surges on higher offer from TPG    https://tmsnrt.rs/42PBAxs
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 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))