Press release article from our research archive:

SIERRA HOME SERVICE COMPANIES, INC. ANNOUNCES AGREEMENT TO SELL ASSETS

SAN RAMON, Calif., Dec. 20 /PRNewswire/ -- Sierra Home Service Companies, Inc. (Nasdaq: SHSC, SHSCW and SHSCU), which markets and services residential home warranties primarily in Southern California, today announced the signing of an Asset Purchase Agreement for the sale of all of Sierra's assets to American Home Shield Corporation ("AHS"), a wholly owned subsidiary of ServiceMaster Company Limited Partnership. Under the Agreement, Sierra will receive $4,250,000 in cash, and AHS will assume substantially all of Sierra's liabilities.

The Board of Directors of Sierra will promptly call a special meeting of shareholders for approval of the Asset Purchase Agreement, which also ...

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