U.S. funeral firm agrees to sell assets as part of $1.4 billion deal: FTC

(Reuters) – The largest U.S. provider of funeral and cemetery services has agreed to sell some of its assets to resolve federal charges that a proposed $1.4 billion deal to buy a smaller rival would substantially lessen competition in the industry. Houston-based Service Corp International in May announced a deal to buy Stewart Enterprises Inc. SCI owns and operates more than 1,449 funeral-services locations and 374 cemeteries, including 213 combined funeral-services/cemetery locations, as well as 100 crematories, according to the U.S. Federal Trade Commission, which announced the terms on Monday. Stewart is the second-largest funeral and cemetery services provider in the nation, with 217 funeral homes and 141 cemeteries in 24 states and Puerto Rico.

    

Leave a Reply

Your email address will not be published.