Inactive Instrument

INVOCARE

Equities

IVC

AU000000IVC8

Australia's InvoCare turns down $1.20 billion bid from TPG

March 26, 2023 at 05:47 pm EDT

March 27 (Reuters) - Australian funeral services provider InvoCare Ltd said on Monday it had concluded that the A$1.81 billion ($1.20 billion) offer from U.S. private equity firm TPG Global failed to provide compelling value to its shareholders.

InvoCare currently is not ready to grant TPG Global access to its books, it said ($1 = 1.5042 Australian dollars) (Reporting by Rishav Chatterjee in Bengaluru)

Latest news about INVOCARE

InvoCare Limited Announces Board Changes	Nov. 23	CI
InvoCare Limited(ASX:IVC) dropped from S&P Global BMI Index	Nov. 06	CI
InvoCare Limited(ASX:IVC) dropped from S&P/ASX 200 Consumer Discretionary Sector Index	Nov. 06	CI
InvoCare Limited(ASX:IVC) dropped from S&P/ASX All Ordinaries Index	Nov. 06	CI
InvoCare Limited(ASX:IVC) dropped from S&P/ASX 300 Index	Nov. 06	CI
InvoCare Limited(ASX:IVC) dropped from S&P/ASX 200 Index	Nov. 06	CI
InvoCare Limited(ASX:IVC) dropped from S&P/ASX Small Ordinaries Index	Nov. 06	CI
TPG Global, LLC completed the acquisition of the remaining 82.8% stake in InvoCare Limited (ASX : IVC).	Nov. 02	CI
InvoCare Limited Announces Fully Franked Special Dividend, Payable on 16 November 2023	23-10-30	CI
Transcript : InvoCare Limited - Shareholder/Analyst Call	23-10-30
Service Corporation International : Beats the SP500 to the punch	23-09-21
Invocare's Net Profit Falls in H1	23-08-28	MT
Transcript : InvoCare Limited, H1 2023 Earnings Call, Aug 28, 2023	23-08-27
InvoCare Limited Not to Pay Interim Dividend for the Half Year Ended 30 June 2023	23-08-27	CI
InvoCare Limited Reports Earnings Results for the Half Year Ended June 30, 2023	23-08-27	CI
News Highlights : Top Financial Services News of the Day	23-08-09	DJ
Australia's InvoCare backs revised $1.2 bln buyout offer from TPG	23-08-08	RE
TPG Global lowers buyout bid for Australia's Invocare to about $1.2 bln	23-08-08	RE
TPG Reportedly Seeks to Buy Invocare At Lower Price	23-08-08	CI
InvoCare Limited Completed the acquisition of remaining 17% stake in Lake Macquarie Memorial Park.	23-08-03	CI
InvoCare Extends TPG Capital Global's Exclusivity Period	23-07-12	MT
InvoCare Extends TPG Capital Global's Due Diligence Period	23-07-03	MT
InvoCare Extends TPG Global's Due Diligence, Exclusivity Period	23-06-19	MT
Transcript : InvoCare Limited - Shareholder/Analyst Call	23-05-25
InvoCare Limited agreed to acquire remaining 17% stake in Lake Macquarie Memorial Park.	23-05-25	CI

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Company Profile

InvoCare Limited is an Australia-based company that provides funeral services. The Company operates private memorial parks and crematoria in Australia and New Zealand. It also provides pet cremation services in Australia. The Company operates approximately 324 funeral locations, 15 cemeteries and 20 crematoria in Australia, New Zealand and Singapore. Its national funeral brands in Australia include White Lady Funerals, Simplicity Funerals and Value Cremations. Its brands in New Zealand includes Beth Shan Funerals, Lychgate Funerals and Resthaven Funerals. Its brands in Singapore include Singapore Casket Company and Simplicity Casket. It owns and operates pet cremation businesses in New South Wales through Patch & Purr, Queensland through Pets in Peace, Victoria and South Australia through Family Pet Care and the Lawnswood and Edenhills brands. The Company provides related service offerings through its websites www.MyGriefAssist.com, www.MyMemorial.com, and www.FuneralPlanner.com.

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