TPG Global withdraws bid for funeral services provider InvoCare

InvoCare

24/04/2023 24:41

April 24 (Reuters) - Australian funeral services
provider InvoCare  IVC.AX  said on Monday that U.S.-based
private equity firm TPG Global had withdrawn its A$1.81 billion
($1.21 billion) buyout bid for the company after it did not
grant TPG due diligence.
    The A$12.65 ($8.47) per share indicative offer from TPG was
deemed by InvoCare's board to "not provide compelling value for
shareholders."

($1 = 1.4941 Australian dollars)

 (Reporting by Harshita Swaminathan; Editing by Christian
Schmollinger)
 ((Harshita.Swaminathan@thomsonreuters.com;))