|
Article Excerpt
HOUSTON, Oct. 15 /PRNewswire-FirstCall/ -- Service Corporation International , which owns and operates funeral service locations and cemeteries, today announced the execution of a definitive support agreement with Keystone North America Inc. "Keystone." Under the terms of the agreement, SCI has agreed to offer to purchase all the outstanding common shares of Keystone, including those represented by income participating securities, at C$8.00 per share, for a total estimated transaction value of approximately $256 million (including Keystone's outstanding debt).
The offer price represents a 38% premium to Keystone's most recent 50-day average share price and is conditioned upon, among other things, the tender of at least two-thirds of the outstanding shares of Keystone's common shares, calculated on a fully diluted basis. The Boards of Directors of both companies have unanimously approved the transaction.
The transaction is anticipated to 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. SCI...
|
|
More articles from PR Newswire
ChipMOS SCHEDULES THIRD QUARTER 2009 FINANCIAL RESULTS CONFERENCE CALL..., October 15, 2009
SRS TruVolume Now Available for Multi-Channel Home Theaters., October 15, 2009
SANYO Releases Two Projectors Ideal for Large Venues and Digital Signa..., October 15, 2009
Washington State Patrol Converts to Smith & Wesson M&P Pistols., October 15, 2009
UMass Memorial Health Care Selects Accenx for Physician Practice Integ..., October 15, 2009
Looking for additional articles?
Search our database of over 3 million articles.
Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication
name or publication date.
About Goliath
Whether you're looking for sales prospects, competitive information, company
analysis or best practices in managing your organization,
Goliath can help you meet your business needs.
Our extensive business information databases empower business
professionals with both the breadth and depth of credible,
authoritative information they need to support their business
goals. Whether it be strategic planning, sales prospecting,
company research or defining management best practices -
Goliath is your leading source for accurate information.
|
|
