InvoCare Limited receives unsolicited non-binding indicative offer from TPG

InvoCare Limited (ASX: IVC) has reported that it received a non-binding, preliminary offer from TPG Global, LLC to purchase all of InvoCare's issued shares through a scheme of arrangement. According to the proposal, InvoCare shareholders would receive AU$12.65 in cash per share, subject to adjustment for any dividends or capital returns prior to the transaction's completion. TPG has further disclosed to InvoCare how it acquired a 17.8% stake in the company through a combination of physical ownership and derivatives.

TPG's offer is subject to several conditions, including the InvoCare Board refraining from engaging in any negotiations with third parties regarding alternative change of control transactions during the due diligence period and the negotiation of binding transaction documents, as well as the Board's support for the proposal.

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