TPG Capital's InvoCare takeover implemented

The news: TPG Capital's acquisition of Australia's largest funeral care provider InvoCare has been implemented, with shareholders receiving their cash or scrip offers and the board reshuffle taking effect from today.

The numbers: InvoCare shareholders who opted for the cash deal have received $12.10 ($12.70 minus the a $60 cent special dividend) and other shareholders will be sent a share certificate or holding statements for their unlisted scrip in HoldCo within five days. The deal was worth about $1.8 billion, and TPG Capital already owned a fifth of InvoCare. Effective today, outgoing directors Bart Vogel, Keith Skinner, Megan Quinn, Kim Anderson, Kee Wong and Richard Davis will make way for incoming directors Vincent Wong and Nicholas Kay.

The context: As part of InvoCare's delisting from the ASX, IVC share trading was suspended after closing on Friday, 3 November, and the company intends to apply for removal from the official ASX list on Monday.