ServiceMaster shareholders vote in favor of merger agreement

By Lisa Kerner

Charlotte, N.C., June 28 - ServiceMaster Co. shareholders voted to approve the company's acquisition by ServiceMaster Global Holdings, Inc., an entity formed by a fund managed by Clayton, Dubilier & Rice, Inc.

About 67% of the outstanding shares entitled to vote, representing some 99% of votes cast for this proposal, were voted in favor of the merger agreement, a company news release stated.

The transaction is slated to close early in the third quarter.

On March 19, ServiceMaster entered into a definitive agreement to be acquired for $15.625 per share in cash, or a total enterprise value of about $5.5 billion, including the assumption of debt.

Clayton, Dubilier & Rice is a private equity investment firm based in New York and London.

Memphis-based ServiceMaster provides cleaning, landscaping and other services to residential and commercial customers through more than 5,500 company-owned and franchised locations.

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