Service Corporation to acquire Keystone North America

Service Corporation International (SCI), a provider of death care products and services, has executed a definitive support agreement with Keystone North America, Inc., a provider of funeral services, under which SCI has agreed to acquire all the outstanding common shares of Keystone for approximately CAD256 million ($248.9 million), including Keystone's outstanding debt. Both the companies are based in the US.

Under the agreement, SCI will acquire all the outstanding common shares at CAD8 ($7.78) per share. The transaction is expected to close by April 2010.

BMO Capital Markets Corp. acted as exclusive financial advisor to Keystone, while J.P. Morgan Securities, Inc. served as exclusive advisor to SCI.

Deal Value (US$ Million) 248.9
Deal Type                Acquisition
Sub-Category             100% Acquisition
Deal Status              Announced: 2009-10-15

Deal Participants

Target (Company)   Keystone North America Inc.
Acquirer (Company) Service Corporation International

Related terms: acquisition, advisor, debt, north america, products, securities