Editor’s Note:  The following article about the Park Lawn Corporation “take private” movement was scheduled to be released Tuesday afternoon, but FDD had some technology issues.  In fact, we are still working on those issues which my technology company tells me are “Resource” issues. . . .They tell me that FDD just has too much “stuff” in our system for the space we have available.  In simple terms, that causes “No Vacancy” issues for people trying to access the website.  We are working on solving that issue and I apologize for any inconvenience.

If you missed Tuesday morning’s article entitled “The ‘Roll-up” model. . .these analysts don’t think it is so great”, because of our technology issues, you can access that article here.

It was no surprise that Park Lawn Corporation shareholders approved the sale and take-private movement of Park Lawn Corporation in a special meeting yesterday, July 29.  This press release issued by Park Lawn Corporation yesterday announces that:

“. . . the shareholders of Park Lawn have approved the proposed plan of arrangement involving Viridian Acquisition Inc., a wholly-owned subsidiary of Viridian Holdings LP, a limited partnership collectively owned by Homesteaders Life Company and certain funds, the general partner of which is Birch Hill Equity Partners Management Inc., at the special meeting of Shareholders held earlier today. Pursuant to the Arrangement, the Purchaser will acquire all of the issued and outstanding common shares of Park Lawn for a price of $26.50 per Share”.

It was announced in the press release that the vote for this action by Park Lawn shareholders was 99.75% in the affirmative.  A two-thirds majority was necessary for approval.

It was also announced that upon certain other actions that this will more than likely take effect on about August 9, 2024, and that the company will be de-listed from the Toronto stock exchange at about that same date.

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