Sodexho Marriott Services (SMS), the largest provider of food and facilities management in North America, has agreed to a billion-dollar takeover by Sodexho Alliance of France.
Sodexho Alliance has held approximately 48 percent of SMS shares since its formation in 1998. On January 24, 2001 Sodexho Alliance made an acquisition proposal to SMS at $27 per share. The final agreement, reached in May, was $32 per share for a total of approximately $1.1 billion.
Among the services SMS offers are food service, housekeeping, grounds keeping, plant operations and maintenance, asset and materials management, and laundry services to corporations, health care facilities, schools, universities and colleges, and remote sites. The company is headquartered in Gaithersburg, Md., and employs 111,000 across the United States and Canada.
For more information, contact SMS.
