SCI Finally Gets Greenlight

March 26, 2010
Advertisement

imageService Corporation International, which operates funeral homes and cemeteries, said Thursday it has received an early termination of a legally required waiting period on its proposed takeover of Keystone North America Inc.

Last year, the companies announced an agreement for Service Corporation to buy Keystone North America for $8 per share.

Service Corporation International said it received an early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvement Act in connection with its tender offer for all of the issued and outstanding common shares in the capital of Keystone North America.

Advertisement

SCI, through a subsidiary, intends to take up all of the Keystone shares tendered to the offer as of the expiration time, provided that the 66 2/3 percent minimum tender condition and other conditions of the offer are met.

The offer expires Friday at 3 p.m. EDT.

As part of the regulatory review by the Federal Trade Commission, SCI agreed to sell certain Keystone and SCI assets. It will divest 22 funeral homes and five cemeteries.

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 Corporation International, based in Houston, fell 1 cent to $9.10 in Thursday trading. On the Toronto exchange, Keystone North America shares rose 3 cents to close at $8.03.

CDFuneralNews

CDFuneralNews

ConnectingDirectors.com is the leading online daily publication for funeral professionals with a reader base of over 45,000 of the most elite and forward-thinking professionals in the profession. With ConnectingDirectors.com we have created a global community through an online platform allowing funeral professionals to Stay Current. Stay Informed and Stay Elite.
CDFuneralNews
Advertisement

You may be interested

Take That Step | FUNERAL hustle 013
FUNERAL Hustle
156 views
FUNERAL Hustle
156 views

Take That Step | FUNERAL hustle 013

DISRUPT Media - October 5, 2017

We hit Atlantic City for the 2017 New Jersey State Funeral Directors Association Annual Convention. We unveiled a brand new…

Transgender Woman Sues Metro Detroit Funeral Homes After Losing Her Job
News
182 views
News
182 views

Transgender Woman Sues Metro Detroit Funeral Homes After Losing Her Job

CDFuneralNews - October 5, 2017

Originally Published on WXYZ Detroit Should someone be fired because they are transgender? A transgender woman has sued the owner of…

How to Leverage the One Statistic Everyone is Ignoring and It’s a Game Changer
Death Discussions
375 views
Death Discussions
375 views

How to Leverage the One Statistic Everyone is Ignoring and It’s a Game Changer

Ryan Thogmartin - October 4, 2017

As a profession, we are completely undervaluing the need to get attention and immediately provide value back to that consumer. It…

Comments