TPG pulls $1.8b InvoCare bid after board cold shoulder
The decision to play hardball with the private equity group will be tested when the funeral company’s board fronts shareholders at next month’s annual meeting.
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The decision to play hardball with the private equity group will be tested when the funeral company’s board fronts shareholders at next month’s annual meeting.
There’s been barely a word spoken between ASX-listed funerals group InvoCare and suitor TPG Capital in the past week, but that hasn’t stopped both sides from gearing up for talks and a potential battle.
InvoCare’s scrambling to shore up its defence following a surprise raid by TPG Capital on Monday night.
The Invocare bid is a classic opportunistic TPG play, and over the medium term expect it to consider a regional push.
Pusey will provide strategic leadership and advisory input as part of his role