Both sides claimed victory at InvoCare on Monday morning, after TPG Capital lifted its bid and secured a board commitment. But can everyone be a winner?
TPG Capital was quick to claim victory in the battle for funerals group InvoCare, despite bidding against itself in a one-horse race.
InvoCare was just as quick, even though its board could not find a competing bidder and wants to sell the company for only 2.8 per cent more than the price that it said “did not provide compelling value” for shareholders.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
