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SCI > SEC Filings for SCI > Form 8-K on 18-Dec-2013All Recent SEC Filings




Other Events

Item 8.01 Other Events

On July 17, 2013, Service Corporation International ("SCI") and Stewart Enterprises, Inc. ("Stewart") each announced that they had received a request for additional information, commonly referred to as a "second request," from the Federal Trade Commission (the "FTC") in connection with SCI's pending acquisition of Stewart. The second request extended the waiting period to consummate the proposed acquisition under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 until the 30th day after substantial compliance by SCI and Stewart with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. On September 3, 2013, Stewart and SCI entered into an agreement (the "Timing Agreement") with the FTC not to consummate the proposed acquisition prior to 90 days after both SCI and Stewart certify substantial compliance with the second requests, or December 13, 2013, whichever comes earlier. The December 13, 2013 date referenced in the preceding sentence was (i) changed to be December 20, 2013 pursuant to an amendment to the Timing Agreement effective October 30, 2013, and (ii) further changed to be 12:01 am on December 23, 2013 pursuant to a second amendment to the Timing Agreement effective December 16, 2013 (as amended, the "Amended Timing Agreement"). The Amended Timing Agreement does not prevent the parties from consummating the proposed acquisition sooner if the FTC grants early termination, closes its investigation or accepts for public comment a proposed consent agreement settling the matter. SCI and Stewart anticipate that the acquisition will be completed in late 2013.

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