TPG’s $1.8 billion buyout of InvoCare has been approved by shareholders of Australia’s largest funerals group, ending two decades of public listing.
Although there was substantial opposition, the private equity firm’s offer was agreed to by 81.01 per cent of shareholders at a meeting on Tuesday. This surpassed the 75 per cent hurdle needed for the proposal to be approved and for ownership to change.
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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