Shearman Aids Funeral Co. SCI On $1.4B Deal For Rival

Law360, New York (May 29, 2013, 1:10 PM EDT) -- Texas-based Service Corp. International has struck a cash deal valued at $1.4 billion to acquire Stewart Enterprises Inc., combining the two largest U.S. funeral home operators, both companies said Wednesday.

The deal, which has been approved by the boards of both companies, calls for SCI to pay Stewart stockholders $13.25 per share. The offer is a 36 percent premium to Stewart's closing price of $9.74 on the Nasdaq Stock Market on Tuesday and a 48 percent premium to the stock's 30-day weighted average, Stewart said....
To view the full article, register now.