If You Own Shares Of SCI Or Stewart Enterprises’ Stock You’re Happy About The Acquisition…Right?

May 29, 2013
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Service Corporation International announced early Wednesday morning that they would be purchasing Stewart Enterprises for around $1.1 billion. The chatter around this acquisition hasn’t been positive (see comments left on our Facebook Page).

The boards of directors for both companies have approved the deal, which adds up to $1.4 billion when counting Stewart’s debt, but Stewart shareholders still need to vote on it. The companies expect to close the acquisition by the end of the year or in early 2014.

Service Corp. said the combination will generate about $60 million in annual savings, which will be fully realized over a two-year period after the deal closes. Savings will come from reduced expenses, the elimination of a duplicate public company and increased purchasing power.

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So here’s the good news…If you’re a shareholder in either company your stock just took a really nice jump:

Shares of Stewart Enterprises jumped 34 percent, or $3.32, to $13.06 Wednesday before markets opened and after the companies announced the deal. Service Corp., meanwhile, climbed 6.7 percent, or $1.18, to $18.80.

The shares of both companies had already climbed more than 26 percent so far this year, as of Tuesday.

Ryan Thogmartin

CEO at DISRUPT Media and ConnectingDirector.com
Ryan Thogmartin is the Owner and CEO of DISRUPT Media. DISRUPT Media is a full service social media agency specializing in social media strategy, management and reporting for funeral companies. DISRUPT Media is the creator of the FUNERAL Social Design Process which is the only full service social media strategy program crafted specifically for the funeral profession.

Go to http://funeralsocial.com to find out more about the services we offer. Our clients who are apart of our FUNERAL Social Design Process are seeing an increase in post reach and engagement of over 300%.

Ryan is also the founder of ConnectingDirectors.com. 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 Ryan has created a global community through an online platform allowing funeral professionals to Stay Current. Stay Informed and Stay Elite.
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