Annonce • Aug 10
Park Lawn Provides Delisting Update Park Lawn Corporation announced the successful completion of its previously-announced plan of arrangement transaction (the "Arrangement") involving Viridian Acquisition Inc. (the "Purchaser"), a wholly-owned subsidiary of Viridian Holdings LP, a limited partnership collectively owned by Homesteaders Life Company ("Homesteaders") and certain funds the general partner of which is Birch Hill Equity Partners Management Inc. ("Birch Hill"). As a result of the completion of the Arrangement, the Common Shares and the 5.75% senior unsecured debentures of Park Lawn (the "Debentures") are expected to be delisted from the Toronto Stock Exchange within two business days of closing. Park Lawn has submitted an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations. Annonce • Jul 30
Park Lawn Shareholders OK Going-Private Transaction Park Lawn Corporation shareholders 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 July 29, 2024. 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. The arrangement is expected to become effective on or about August 9, 2024, subject to, among other things, Park Lawn obtaining a final order from the Ontario Superior Court of Justice (commercial list) approving the arrangement and the satisfaction or waiver of certain other customary closing conditions. The final order hearing is scheduled to take place on August 6, 2024. It is expected that, within two to three business days following the completion of the arrangement, the shares and senior unsecured debentures of Park Lawn will be delisted from the Toronto Stock Exchange. Annonce • Jun 05
Homesteaders Life Company and Birch Hill Equity Partners Management Inc. entered into an arrangement agreement to acquire Park Lawn Corporation (TSX:PLC) for approximately CAD 940 million. Homesteaders Life Company and Birch Hill Equity Partners Management Inc. entered into an arrangement agreement to acquire Park Lawn Corporation (TSX:PLC) for approximately CAD 940 million on June 3, 2024. Homesteaders and Birch Hill will acquire Park Lawn for a price of CAD 26.50 per Share (the "Consideration") in an all-cash transaction valued at approximately CAD 1.2 billion, including Park Lawn's net debt. The Consideration represents a 62.1% premium to the closing price of the Shares on the Toronto Stock Exchange ("TSX") on June 3, 2024, being the last trading day prior to the announcement of the Transaction, and a 56.4% premium to the 20-day volume weighted average trading price per Share on the TSX for the period ending June 3, 2024. Each of Birch Hill and Homesteaders have committed to provide equity funding for the transaction. In addition, the Purchaser has also secured a fully-committed debt financing from BMO Capital Markets (the "Debt Financing Commitment"). The Equity Financing Commitments and Debt Financing Commitment, together with Homesteaders' cash on hand will allow the Purchaser to pay the Consideration and other payments required to be made by the Purchaser in connection with the Transaction. In addition, the Arrangement Agreement provides for a termination fee of CAD 28.2 million payable by Park Lawn if it accepts a superior proposal and in certain other specified circumstances, a reverse termination fee of CAD 28.2 million payable by the Purchaser to Park Lawn if it fails to fund the Transaction consideration and in certain other specified circumstances, and a regulatory termination fee of CAD 18.8 million payable by the Purchaser to Park Lawn if specified regulatory approvals are not obtained. Upon closing of the Transaction, it is expected that the Shares will be delisted from the TSX and that Park Lawn will cease to be a reporting issuer under applicable Canadian securities laws.
Completion of the Transaction is subject to customary conditions, including, among others, court approval, regulatory approvals and the approval of at least two-thirds of the votes cast by the Shareholders present in person or represented by proxy at the Meeting. In connection with the Transaction, the directors and executive officers of Park Lawn, have entered into voting support agreements (the "Voting Support Agreements") with the Purchaser, pursuant to which they have agreed to, among other things, vote all of their Shares (including any Shares issued upon the exercise of any securities convertible, exercisable or exchangeable into Shares) in favour of the Transaction. Subject to the satisfaction of all conditions to closing set out in the Arrangement Agreement, it is anticipated that the Transaction will be completed in August 2024. The board of directors of Park Lawn (the “Board“), having received a unanimous recommendation from a special committee comprised solely of independent directors of Park Lawn (the “Special Committee“) and after receiving outside legal and financial advice, has unanimously determined that the Transaction is in the best interests of Park Lawn and is fair to shareholders of Park Lawn (the “Shareholders“) and unanimously recommends that Shareholders vote in favour of the Transaction.
National Bank Financial is acting as financial advisor and fairness opinion provider to the Special Committee. Bennett Jones LLP and Morgan, Lewis & Bockius LLP are acting as legal advisors to the Special Committee and Park Lawn. BMO Capital Markets is acting as financial advisor to the Purchaser. Torys LLP, Faegre Drinker Biddle & Reath LLP and Paul Weiss Rifkind Wharton & Garrison LLP are acting as legal advisors to Homesteaders. Stikeman Elliott LLP is acting as legal advisor to Birch Hill. Annonce • May 29
Steven Scott Steps Down from the Board of Directors of Park Lawn Corporation Park Lawn Corporation announced that Steven Scott is stepping down from the Board of Directors after ten years of outstanding service. Annonce • May 01
Park Lawn Corporation to Report Q1, 2024 Results on May 09, 2024 Park Lawn Corporation announced that they will report Q1, 2024 results on May 09, 2024 Annonce • Mar 22
Park Lawn Corporation Announces First Quarter 2024 Dividend, Payable on April 15, 2024 Park Lawn Corporation announced that the quarterly dividend of $0.114 per share will be payable on April 15, 2024 to shareholders of record as at March 29, 2024. Annonce • Mar 13
Park Lawn Corporation, Annual General Meeting, Jun 03, 2024 Park Lawn Corporation, Annual General Meeting, Jun 03, 2024. Annonce • Mar 08
Park Lawn Corporation Appoints Maggie MacDougall to the Board of Directors Park Lawn Corporation announced in furtherance of its commitment to deepening and diversifying the skills and backgrounds of its directors, the company announced the appointment of Maggie MacDougall as an independent director to its board of directors (Board). Ms. MacDougall will serve as a member of the Governance and Nominating, Human Resources and Compensation and Investment Committees. Ms. MacDougall is the founder of Crescent Capital Partners Ltd. Prior to founding Crescent Capital Partners, Ms. MacDougall was the Vice Chairman, Head of Research at Stifel Nicolaus Canada Inc., where she built and managed a high-performance team while implementing a structured approach to technology and processes improvements, advancing the Canadian institutional ranking from #12 to #9 overall and from #3 to #1 small cap in less than three years. She has over 19 years of experience in financial services and has been repeatedly ranked as a TopGun Analyst in the Brendan Wood International's Worldwide Equity Capital Markets Performance Canadian Equities Report. Prior to joining Stifel, Ms. MacDougall was a Senior Partner at an independent investment dealer, a role she held for 11 years after spending 3 years as part of the award-winning Focus + team at Goodman and Company Investment Counsel, which is known as 1832. Annonce • Feb 27
Park Lawn Corporation to Report Q4, 2023 Results on Mar 07, 2024 Park Lawn Corporation announced that they will report Q4, 2023 results on Mar 07, 2024 Annonce • Dec 19
Park Lawn Corporation Announces Fourth Quarter 2023 Dividend, Payable on December 29, 2023 Park Lawn Corporation announced that the quarterly dividend of $0.114 per share will be payable on January 15, 2024 to shareholders of record as at December 29, 2023. Annonce • Oct 28
Park Lawn Corporation to Report Q3, 2023 Results on Nov 09, 2023 Park Lawn Corporation announced that they will report Q3, 2023 results on Nov 09, 2023 Annonce • Oct 19
Everstory Acquisition Portfolio, LLC entered into a definitive agreement to acquire Substantially all assets from Park Lawn Cemetery Company (USA), Inc. for $70 million. Everstory Acquisition Portfolio, LLC entered into a definitive agreement to acquire Substantially all assets from Park Lawn Cemetery Company (USA), Inc. for $70 million on October 17, 2023. Annonce • Oct 17
Park Lawn Corporation (TSX:PLC) completed the acquisition of substantially all the assets of Christy-Smith Funeral Homes and Crematory. Park Lawn Corporation (TSX:PLC) entered into a definitive agreement to acquire substantially all the assets of Christy-Smith Funeral Homes and Crematory on August 30, 2023. The transaction is expected to be financed with funds from PLC's credit facility and available cash on hand. The transaction is anticipated to close in mid-October 2023 following the receipt of regulatory approval.Park Lawn Corporation (TSX:PLC) completed the acquisition of substantially all the assets of Christy-Smith Funeral Homes and Crematory on October 16, 2023. Annonce • Sep 23
Park Lawn Corporation Announces Third Quarter 2023 Dividend, Payable on October 16, 2023 Park Lawn Corporation announced that the quarterly dividend of $0.114 per share will be payable on October 16, 2023 to shareholders of record as at September 29, 2023. Annonce • Aug 31
Park Lawn Corporation (TSX:PLC) entered into a definitive agreement to acquire substantially all the assets of Christy-Smith Funeral Homes and Crematory. Park Lawn Corporation (TSX:PLC) entered into a definitive agreement to acquire substantially all the assets of Christy-Smith Funeral Homes and Crematory on August 30, 2023. The transaction is expected to be financed with funds from PLC's credit facility and available cash on hand. The transaction is anticipated to close in mid-October 2023 following the receipt of regulatory approval. Annonce • Aug 15
Park Lawn Corporation (TSX:PLC) acquired Assets of Forrest & Taylor Funeral Home Limited. Park Lawn Corporation (TSX:PLC) acquired Assets of Forrest & Taylor Funeral Home Limited on August 14, 2023. Forrest & Taylor team will join the Park Lawn family.Park Lawn Corporation (TSX:PLC) completed the acquisition of Assets of Forrest & Taylor Funeral Home Limited on August 14, 2023. Annonce • Jul 29
Park Lawn Corporation to Report Q2, 2023 Results on Aug 10, 2023 Park Lawn Corporation announced that they will report Q2, 2023 results on Aug 10, 2023 Annonce • Jul 18
Park Lawn Corporation (TSX:PLC) acquired Substantially all of the assets from Ward Funeral Home Limited. Park Lawn Corporation (TSX:PLC) entered into a definitive agreement to acquire Substantially all of the assets from Ward Funeral Home Limited on June 13, 2023.Park Lawn Corporation (TSX:PLC) completed the acquisition of Substantially all of the assets from Ward Funeral Home Limited on July 17, 2023. Annonce • Jun 27
Park Lawn Corporation (TSX:PLC) acquired Substantially all assets from Cobb Suncrest Memorial Gardens and Cobb Funeral Chapel. Park Lawn Corporation (TSX:PLC) acquired Substantially all assets from Cobb Suncrest Memorial Gardens and Cobb Funeral Chapel on June 26, 2023. The Cobb team will be joining Park Lawn.Park Lawn Corporation (TSX:PLC) completed the acquisition of Substantially all assets from Cobb Suncrest Memorial Gardens and Cobb Funeral Chapel on June 26, 2023. Annonce • Jun 21
Park Lawn Corporation Announces Quarterly Dividend, Payable on July 17, 2023 Park Lawn Corporation announced that the quarterly dividend of $0.114 per share will be payable on July 17, 2023 to shareholders of record as at June 30, 2023. Annonce • Jun 14
Park Lawn Corporation (TSX:PLC) entered into a definitive agreement to acquire Substantially all of the assets from Ward Funeral Home Limited. Park Lawn Corporation (TSX:PLC) entered into a definitive agreement to acquire Substantially all of the assets from Ward Funeral Home Limited on June 13, 2023. Annonce • Aug 01
Park Lawn Corporation to Report Q2, 2020 Results on Aug 13, 2020 Park Lawn Corporation announced that they will report Q2, 2020 results at 10:15 PM, GMT Standard Time on Aug 13, 2020