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BUSINESS
October 2, 1996 | Times Staff and Wire Reports
Loewen Group Says FTC Seeks Data on Service Corp. Bid: On the eve of the giant funeral services company's foray into public trading, the Federal Trade Commission has contacted the company as part of an examination of potential antitrust questions about a takeover offer by Service Corp. International. Houston-based Service Corp. has made an unsolicited $4.1-billion takeover bid for British Columbia-based Loewen Group.
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BUSINESS
April 4, 2006 | From Bloomberg News
Service Corp. International, the biggest owner of funeral homes and cemeteries, agreed to acquire No. 2 Alderwoods Group Inc. for $856 million, adding more than 700 locations. Investors in Cincinnati-based Alderwoods, formerly Loewen Group Inc., will receive $20 a share in cash, 12% more than the stock's closing price March 31, and Houston-based Service Corp. will assume $374 million in debt.
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BUSINESS
November 7, 1990 | ALISON REA, REUTERS
The biggest funeral home operator in the nation is bullish about business, even as the economy slips into a recession. "No matter what happens, people will bury their dead. The funeral and casket may be less, but they will take care of the body," says Samuel Rizzo, chief financial officer of Service Corp. International. The Houston-based company is the largest owner and operator of funeral homes and cemeteries in the United States and Canada.
BUSINESS
October 2, 1999 | Bloomberg News
Service Corp. International, the world's largest funeral home and cemetery owner, cut its estimate for its third-quarter net income, citing fewer deaths, prolonged labor talks in France and lower investment gains. Service Corp., whose shares have fallen about two-thirds this year, said it expects third-quarter net income to be $27 million to $37 million, or 10 to 13 cents a share, compared with $83.2 million, or 32 cents a share, a year ago.
BUSINESS
April 4, 2006 | From Bloomberg News
Service Corp. International, the biggest owner of funeral homes and cemeteries, agreed to acquire No. 2 Alderwoods Group Inc. for $856 million, adding more than 700 locations. Investors in Cincinnati-based Alderwoods, formerly Loewen Group Inc., will receive $20 a share in cash, 12% more than the stock's closing price March 31, and Houston-based Service Corp. will assume $374 million in debt.
BUSINESS
October 2, 1999 | Bloomberg News
Service Corp. International, the world's largest funeral home and cemetery owner, cut its estimate for its third-quarter net income, citing fewer deaths, prolonged labor talks in France and lower investment gains. Service Corp., whose shares have fallen about two-thirds this year, said it expects third-quarter net income to be $27 million to $37 million, or 10 to 13 cents a share, compared with $83.2 million, or 32 cents a share, a year ago.
BUSINESS
January 8, 1997 | Times Staff and Wire Reports
Service Corp. International, the world's largest funeral home operator, called off its hostile attempt to acquire rival Loewen Group, saying Loewen's rapid expansion made a purchase too risky. Saying it wanted to remain independent, Loewen twice rejected offers from Houston-based Service Corp., which sweetened its bid to about $2.7 billion in October. Service Corp. had said it would take the offer directly to Loewen shareholders. Loewen, based in Burnaby, Canada, also sued Service Corp.
BUSINESS
September 18, 1996 | From Associated Press
In a business where people are supposed to be soothing and supportive, the world's biggest funeral-home company on Tuesday made what was viewed as an unfriendly, expensive bid for even more power. Service Corp. International, the Houston-based owner of more than 2,800 funeral homes worldwide, disclosed it had approached Canada's Loewen Group, its rapidly expanding rival, with a proposed takeover valued at just over $2 billion.
BUSINESS
July 30, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Pierce Brothers, the Los Angeles area's largest chain of mortuaries, has tentatively agreed to be acquired by the biggest funeral-home operator in the nation, Service Corp. International (SCI). Terms were not disclosed pending a definitive merger pact between the companies. Pierce Brothers, based in North Hollywood, owns and operates 60 funeral homes, nine cemeteries and 11 other funeral-related businesses, all in California and Florida. It also operates three other cemeteries under contract.
BUSINESS
August 2, 1991 | From Times Staff and Wire Services
California regulators' order that financier Joe L. Allbritton repay $12 million in "illegal dividends" from his Pierce National Life Insurance Co. of Los Angeles may have figured in Allbritton's decision to sell his prized Pierce Bros. funeral home chain. Allbritton, chairman of Riggs National Bank, agreed last week to sell the regional chain of 60 funeral homes and nine cemeteries that was one of the foundation stones of his financial edifice.
BUSINESS
July 30, 1999 | From Times Wire Services
DaimlerChrysler reported an unexpected decline in profit for the second quarter as competition forced it to boost discounts on Chrysler vehicles and costs mounted for its Smart mini-car. The auto maker, Europe's largest industrial company, said earnings excluding one-time charges slipped 0.3% to $1.58 billion, or $1.53 a share, well below forecasts of $2 a share. Especially disappointing were lackluster earnings from U.S. car and light-truck operations, the auto maker's single largest unit.
BUSINESS
January 8, 1997 | Times Staff and Wire Reports
Service Corp. International, the world's largest funeral home operator, called off its hostile attempt to acquire rival Loewen Group, saying Loewen's rapid expansion made a purchase too risky. Saying it wanted to remain independent, Loewen twice rejected offers from Houston-based Service Corp., which sweetened its bid to about $2.7 billion in October. Service Corp. had said it would take the offer directly to Loewen shareholders. Loewen, based in Burnaby, Canada, also sued Service Corp.
BUSINESS
October 3, 1996 | Times Staff and Wire Reports
Service Corp. Sweetens Bid for Loewen Group: Houston-based Service Corp. International said it will offer nearly $2.72 billion in stock for rival funeral home operator Loewen Group Inc., just under $45 for each Loewen common share. Service Corp. said it will take its offer offer directly to Loewen shareholders. The new bid follows Loewen's rejection of a $2.5-billion offer announced Sept. 17, which valued Loewen shares at $43 each. Loewen shares closed at $41.
BUSINESS
September 18, 1996 | From Associated Press
In a business where people are supposed to be soothing and supportive, the world's biggest funeral-home company on Tuesday made what was viewed as an unfriendly, expensive bid for even more power. Service Corp. International, the Houston-based owner of more than 2,800 funeral homes worldwide, disclosed it had approached Canada's Loewen Group, its rapidly expanding rival, with a proposed takeover valued at just over $2 billion.
BUSINESS
August 2, 1991 | From Times Staff and Wire Services
California regulators' order that financier Joe L. Allbritton repay $12 million in "illegal dividends" from his Pierce National Life Insurance Co. of Los Angeles may have figured in Allbritton's decision to sell his prized Pierce Bros. funeral home chain. Allbritton, chairman of Riggs National Bank, agreed last week to sell the regional chain of 60 funeral homes and nine cemeteries that was one of the foundation stones of his financial edifice.
BUSINESS
July 30, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Pierce Bros., the Los Angeles area's largest chain of mortuaries, has tentatively agreed to be acquired by the biggest funeral-home operator in the nation, Service Corp. International (SCI). Terms were not disclosed pending a definitive merger pact between the companies. "We're in the business of buying funeral homes and cemeteries," and Pierce Bros. "fits precisely into our growth plans," SCI spokesman Bill Barrett said. Pierce Bros.
BUSINESS
July 30, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Pierce Bros., the Los Angeles area's largest chain of mortuaries, has tentatively agreed to be acquired by the biggest funeral-home operator in the nation, Service Corp. International (SCI). Terms were not disclosed pending a definitive merger pact between the companies. "We're in the business of buying funeral homes and cemeteries," and Pierce Bros. "fits precisely into our growth plans," SCI spokesman Bill Barrett said. Pierce Bros.
BUSINESS
July 30, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Pierce Brothers, the Los Angeles area's largest chain of mortuaries, has tentatively agreed to be acquired by the biggest funeral-home operator in the nation, Service Corp. International (SCI). Terms were not disclosed pending a definitive merger pact between the companies. Pierce Brothers, based in North Hollywood, owns and operates 60 funeral homes, nine cemeteries and 11 other funeral-related businesses, all in California and Florida. It also operates three other cemeteries under contract.
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