(Adds details on due diligence) April 24 (Reuters) - Australian...

(Adds details on due diligence)

April 24 (Reuters) - Australian funeral services provider InvoCare (IVC) said on Monday that U.S.-based private equity firm TPG Global had withdrawn its A$1.81 billion ($1.21 billion) buyout bid for the company after it did not grant TPG due diligence.

The A$12.65 per share indicative offer from TPG was deemed by InvoCare's board to "not provide compelling value for shareholders," despite the 41.3% premium at the time of the offer.

InvoCare had previously said it was

open to granting

TPG access to its books if it came back with a better offer, with some

analysts

fairly confident a deal would materialise.

TPG did have access to some limited, non-public financial information to help it rethink its bid price, InvoCare said.

TPG Global did not immediately respond to a Reuters request to comment.

The firm currently holds about 19.2% of InvoCare's shares, according to Refinitiv data.

($1 = 1.4941 Australian dollars)