Antitrust Law Daily Wrap Up, ANTITRUST NEWS: FTC opens comment period on SCI’s application to sell Georgia cemeteries, (Jul 9, 2014)

By Greg Hammond, J.D.

The FTC is requesting public comments on Service Corporation International’s (SCI) application to divest two cemeteries in the state of Georgia. The application was made as part of SCI’s attempts to comply with an April 2014 order settling charges that the company’s acquisition of Stewart Enterprises, Inc. would likely be anticompetitive. Pursuant to the order, SCI is required to divest 53 funeral homes and 38 cemeteries across the U.S. (In the Matter of Service Corporation International, File No. 131 0163, Docket No. C-4423)

According to the application, SCI has petitioned the Commission to approve the divestiture of Eastlawn Memorial Park in McDonough and Holly Hill Memorial Park in Fairburn to Hunsaker Partners, LLC. SCI noted that Hunsaker will be a strong and effective competitor, stating that the company “has extensive experience in acquiring and operating funeral homes and cemeteries, has the financial wherewithal to make this acquisition, and the acquisition of the Divestiture Assets by Hunsaker will ensure that the Divestiture Assets remain strong and effective competitors in Marietta, Georgia.” In addition, the application states that the proposed divestiture will “achieve the purposes of the decision and order and result in no harm to competition.”

The Commission will issue its decision regarding the proposed divestiture after a 30-day public comment period, expiring August 8, 2014. Written comments may be sent to: FTC Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, DC 20580. In addition, comments may be submitted electronically.

Companies: Service Corporation International; Stewart Enterprises, Inc.; Hunsaker Partners, LLC

News: AcquisitionsMergers Antitrust