ServiceMaster Shareholders OK Buyout

Downers Grove, IL, June 29, 2007--ServiceMaster Co. said that shareholders approved its acquisition by an investment group led by private-equity firm Clayton, Dubilier & Rice Inc.

Clayton's group, ServiceMaster Global Holdings Inc., said in March it would pay $15.625 in cash for each outstanding share. Based on 292.4 million outstanding shares as of May 4, the deal is valued at $4.57 billion. The company said the deal is worth $5.5 million including the assumption of debt.

ServiceMaster, which owns TruGreen lawn care, Terminix pest control and the Merry Maids cleaning-service brands, said that 67 percent of outstanding shares, representing 99 percent of the votes cast, voted in favor of the deal.

The transaction is expected to close in the third quarter, subject to regulatory approval.