From Breakingviews - TPG’s funeral deal is stuck in awkward purgatory
its buyout offer that valued the enterprise at A$2.2 billion after the target unanimously rebuffed the unsolicited non-binding proposal. But the roughly 20% stake it picked up around the same time locks the pair into an awkward dance.
It's a messy situation. The company’s stock plunged as much as 15% before paring back some losses, moving below the A$12.65 per share TPG paid for its stake and the same price it was offering for the whole. InvoCare was open to better terms, and offered the suitor access to limited, non-public financial information. TPG declined and now wants a seat on the board instead.
Following the collapse of Silicon Valley Bank in the United States, rising global worries about financial stability will make it harder to do deals. TPG’s offer, at a 41% premium, wasto start with: Breakingviews calculations showed that to generate a 20% internal rate of return after five years would have required TPG to more than double this year’s expected EBITDA to A$320 million. A rethink makes sense.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Breakingviews - South Korea's chip dilemma gets sharperPresident Yoon Suk Yeol is walking a diplomatic tightrope. As the South Korean leader starts his week-long state-visit to the United States marking the 70th anniversary of the countries' alliance, the White House has asked Seoul to 'urge' its chipmakers not to fill any supply shortfalls in China if Beijing cracks down on Idaho-based Micron Technology , the Financial Times reported, citing four sources. There are no good options for Yoon.
Leer más »
Breakingviews - Hong Kong’s dollar stress gets more fundamentalHong Kong’s currency peg to the greenback is stuck between a rock and a hard place.
Leer más »
First evacuations of foreign nationals stuck in Sudan announced | CNNThe two rival forces battling for control in Sudan have both said they are ready to help evacuate foreign nationals, raising hopes international powers could soon rescue stranded citizens after a week of fighting
Leer más »
Wisconsin deputies help free bobcat stuck in grill of carWisconsin deputies help free bobcat stuck in grill of car
Leer más »
13-year-old boy banned from theme park for a year after getting stuck in the claw machine | CNNA teenage boy provided a cautionary tale for anyone who has ever wanted to sneak their way into some free prizes.
Leer más »
13-year-old boy banned from theme park for a year after getting stuck in the claw machineThe park’s medical team responded and the boy left the machine, according to Carowinds. He was treated and released, says the theme park.
Leer más »