Street Talk

InvoCare takeover talks turn sluggish; Ares ready to lend

Sarah Thompson, Kanika Sood and Emma Rapaport

Jul 26, 2023 – 7.50pm

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It’s stops and starts in the tussle between TPG and InvoCare, the ASX-listed funerals business the private equity suitor is hoping to mop up.

For a start, the exclusive negotiating period between the two parties ended last week. Little chance of an interloper there, considering the Joel Thickins-run private equity house has some 20 per cent of the shareholder register.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.