(Corrects paragraph 4 to say TPG was offered access to non-public information on InvoCare not that it had access to the information)

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- Australian funeral services provider InvoCare said on Monday that U.S.-based private equity firm TPG Global had withdrawn its A$1.81 billion ($1.21 billion) buyout bid for the company after it did not grant TPG due diligence.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