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Article: SERVICE CORPORATION INTERNATIONAL AND SCI CANADA REACH AGREEMENT ON PURCHASE OF MINORITY SHARES
- Article from:
- PR Newswire
- Article date:
- July 13, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, July 13 /PRNewswire/ -- Service Corporation International (SCI) (NYSE: SRV) and Service Corporation International (Canada) Limited (SCI Canada) jointly announced today that, subject to board approval, they have reached an agreement under which SCI would offer to acquire the shares of SCI Canada not already owned by SCI. Under the proposed terms of the agreement, minority shareholders would receive cash consideration of Cdn. $22.75 per share. This price will be paid for all outstanding shares held by the minority and all shares issuable under existing stock options. It is anticipated that the vesting of all existing unvested stock options will be accelerated, and ...