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Service Corporation International and Equity Corporation International Jointly Announce Completion of Merger
HOUSTON, Jan. 19 /PRNewswire/ -- Service Corporation International (NYSE: SRV) ("SCI") and Equity Corporation International (NYSE: EQU) ("ECI") jointly announced today the consummation of the previously announced merger between ECI and a wholly-owned subsidiary of SCI (the "Merger"). As determined in accordance with the merger agreement, the stockholders of ECI will receive 0.71053 of a share of SCI common stock for each share of ECI common stock.
SCI and ECI also announced that the Federal Trade Commission has accepted the Agreement Containing Consent Order signed by SCI and the FTC staff in December 1998, resolving regulatory concerns of the FTC staff with regard to the Merger.
SCI affiliates now operate approximately 3,700 funeral locations and
500 cemeteries in 18 countries on five continents, as a result of the merger.