Santa Rosa Company Agrees to Be Acquired
SANTA ROSA, Calif. — American Home Shield Corp., a home warranty company, said Monday it had agreed to be bought by ServiceMaster LP, a leading building maintenance services company, in a deal worth up to $120 million.
ServiceMaster, of Downers Grove, Ill., said it had signed a definitive merger agreement to buy 80% of American Home Shield’s shares for $9.50 a share, plus up to $3.50 a share depending on the company’s performance through 1992.
Senior officers of American Home Shield would own the remaining 20% of the company.
The merger agreement calls for American Home Shield to pay ServiceMaster $2.5 million if its board changes its mind and recommends another offer.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
