Park Lawn Withdraws Offer to Purchase Carriage Services, Inc.

In June, Connecting Directors broke the story: that Park Lawn Corporation has officially proposed “the acquisition of all outstanding shares of capital stock” of Carriage Services, Inc. 

Fast-forward to this week and Park Lawn put out this release:

From Park Lawn’s website:

TORONTO, ONTARIO/October 2, 2023/ACCESSWIRE – Today, Park Lawn Corporation (TSX: PLC, PLC.U) (“Park Lawn” or “PLC”) announced that it has declined to participate further in Carriage Services, Inc.’s (NYSE: CSV) (“Carriage”) previously announced strategic review process and that it has withdrawn its all cash proposal to purchase the outstanding stock of Carriage.

Park Lawn does not intend to comment further on its withdrawal from Carriage’s strategic review process or regarding the withdrawal of its offer unless it deems further disclosure is appropriate or required.

About Park Lawn Corporation:

PLC provides goods and services associated with the disposition and memorialization of human remains.  Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need).  PLC and its subsidiaries own and operate businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service.  PLC operates in three Canadian provinces and nineteen U.S. states.

Contact Information

Daniel Millett
Chief Financial Officer
(416) 231-1462, ext. 221

Media:

Jonathan Gasthalter/Amanda Shpiner/Sam Fisher
Gasthalter & Co.
(212) 257-4170