Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, September 7, 2018

Article Excerpt

SERVICEMASTER GLOBAL HOLDINGS INC., $59.49, symbol SERV on New York, provides residential and commercial services focused on termite and pest control, home warranties, disaster response and restoration, professional home cleaning, furniture repair, and home inspections. Its brands include Terminix, American Home Shield, ServiceMaster Clean, ServiceMaster Restore, Merry Maids, AmeriSpec and Furniture Medic. The company visits more than 75,000 homes and businesses each day. On August 27, 2018, ServiceMaster’s board of directors approved the spinoff of its American Home Shield business. That unit is the largest home warranty company in the U.S. and provides contracts to cover the repair costs of home appliances and major systems such as heating and cooling. Its policies also cover plumbing, electrical and structural systems. American Home Shield now responds to over four million service requests annually across all 50 U.S states; it has a national network of about 15,000 pre-qualified contractors. To be renamed Frontdoor Inc., the American Home Shield business will see its shares begin trading October…

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