InvoCare (IVC AU): TPG’s Revised $13/Share Non-Binding Offer
On the 7 March, PE outfit TPG took a 17.8% stake in InvoCare (IVC AU), Australia's leading funeral services provider, and also pitched a A$12.65/share non-binding Offer via a Scheme.
The Indicative proposal was subject to the completion of due diligence. InvoCare rejected the proposal on the 27 March. On the 24 April, TPG withdrew its NBIO.
TPG has returned with a revised A$13/share, inclusive of a A$0.60/share fully franked dividend. If the proposal becomes a binding transaction, InvoCare's Board intends to unanimously recommend it.
Keep reading with a 7-day free trial
Subscribe to Aussie/Kiwi M&A/Events to keep reading this post and get 7 days of free access to the full post archives.