Service Corp. to Buy Rival Alderwoods Group

Service Corp. International, the biggest owner of funeral homes and cemeteries, agreed to acquire No. 2 Alderwoods Group Inc. for $856 million, adding more than 700 locations.

Investors in Cincinnati-based Alderwoods, formerly Loewen Group Inc., will receive $20 a share in cash, 12% more than the stock’s closing price March 31, and Houston-based Service Corp. will assume $374 million in debt.