Private equity giant TPG has swooped on Australia’s biggest funerals business InvoCare, whose brands include White Lady Funerals, Le Pine and Simplicity Funerals, with a $1.8 billion buyout offer that sent the target’s beaten down shares soaring 39 per cent to a three-year high.
TPG snared a 17.8 per cent stake in InvoCare in a late-night raid on Monday before making its indicative buyout proposal at $12.65 per share.
Loading...
Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
