Funeral Industry News

SCI Extends Offer For Keystone North America…Again, and Again, and Again.

March 17, 2010

SCI Extends Offer For Keystone North America…Again, and Again, and Again.

imageIt seems as though SCI is having a difficult time finalizing the acquisition of Keystone North America. Yesterday they announced, AGAIN, an extension of the expiry time of its offer to purchase all of the issued and outstanding common shares in the capital of Keystone North America Inc.

Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, announced today that its wholly-owned subsidiary, SCI Alliance Acquisition Corporation, has extended the expiry time of its offer (the Offer) dated November 16, 2009, as amended, to purchase all of the issued and outstanding common shares (the Keystone Shares) in the capital of Keystone North America Inc. (Keystone). The expiry time of the Offer has been extended from 3:00 p.m. (Eastern time) on Friday, March 19, 2010 to 3:00 p.m. (Eastern time) on Friday, March 26, 2010.

SCI continues to anticipate that the transaction will close in the first quarter of 2010, subject to customary closing conditions, including expiration of the waiting period under the Hart-Scott-Rodino Antitrust Act.

Keystone shareholders with questions or requests should contact Kingsdale Shareholder Services Inc., the Information Agent in connection with the Offer:

North American Toll Free Phone: 1-866-581-1487

Outside North America, Banks and Brokers Call Collect: 416-867-2272

E-mail: [email protected]

Facsimile: 416-867-2271

Toll Free Facsimile: 1-866-545-5580

Source: WebNewsWire.com