Stewart Enterprises retains investment banks

By Associated Press
August 29, 2008 | Comments (0)

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Funeral services provider Stewart Enterprises Inc. said Friday it is retaining investment banks Goldman Sachs & Co. and Skadden, Arps, Slate, Meagher & Flom LLP as it considers its strategic options.

Stewart, which operates 221 funeral homes and 139 cemeteries in 24 states, said in July it would consider strategic alternatives. At that time, the company rejected two buyout offers from larger rival Service Corp. International.

Stewart shares closed at $9.28 Thursday, and are up 32.8 percent since Service Corp. made its first buyout bid.

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