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The deal is valued A$1.8 billion ($1.2 billion). Shareholders of InvoCare will receive A$12.65 in cash for each share, per the agreement. Shares of the business increased by 39% to A$12.45 during trading on the Sydney Stock Exchange.
The board of InvoCare supports the idea of buying the company, according to a statement from the company. The potential buyer has informed that it already owns about 17.8% of the business.
InvoCare, founded in 2001, is one of the biggest funeral and related service companies in the area. It runs more than 300 funeral homes, cemeteries, and crematories in Australia, New Zealand, and Singapore. It also dominates the market for pet funeral services in Australia.
source: bloomberg.com
The board of InvoCare supports the idea of buying the company, according to a statement from the company. The potential buyer has informed that it already owns about 17.8% of the business.
InvoCare, founded in 2001, is one of the biggest funeral and related service companies in the area. It runs more than 300 funeral homes, cemeteries, and crematories in Australia, New Zealand, and Singapore. It also dominates the market for pet funeral services in Australia.
source: bloomberg.com
