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Service Corp. Extends Deadline For Keystone Shares

Funeral Industry News December 21, 2009

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HOUSTON — Funeral home and cemetery operator Service Corp. International said Friday it has extended its offer to purchase all shares of rival Keystone North America Inc.

Service International said the deal, which was set to expire Dec. 22, has been extended to Feb. 1.

On Oct. 15, the companies announced an agreement for Service Corporation to buy Keystone.

Service Corp. owns and operates 1,250 funeral homes and 364 cemeteries in 43 states, eight Canadian provinces, the District of Columbia and Puerto Rico.

Keystone North America, based in Toronto, operates 195 funeral homes and 15 cemeteries across the United States and the Canadian province of Ontario.

Shares of Service Corp. were unchanged at $7.72 in afternoon trading.

Source: Forbes:.com