TPG Global Seeks to Buy Funeral Home Operator InvoCare
This article is for subscribers only.
Australian funeral home operator InvoCare Ltd. has surged the most on record after receiving a takeover approach from TPG Global, LLC.
TPG offered to buy InvoCare at A$12.65 per share, valuing the Sydney based company at A$1.82 billion ($1.22 billion). Shares in the Australian firm closed 35% higher at A$12.08. TPG has already acquired a stake of about 17.8% via a combination of physical ownership and derivatives.