Hub International Shareholders Approve Proposed Acquisition



    CHICAGO, June 5 /CNW/ - Hub International Limited (NYSE:  HBG)(TSX:HBG)
announced that its shareholders today approved the proposed plan of
arrangement pursuant to which funds advised by Apax Partners together with
Morgan Stanley Principal Investments will acquire all of Hub's common shares
for $41.50 per share in cash.

    The plan of arrangement was approved by 92.7% of the votes cast by all
shareholders at the meeting and by 91.9% of the votes cast by disinterested
shareholders, which excludes members of management who have committed to make
an investment in an affiliate of the entity that is acquiring Hub.

    A hearing in respect of the final order on the plan of arrangement is
scheduled for tomorrow, June 6, 2007 at 10:00 a.m. (Toronto time) in the
Ontario Superior Court of Justice. Subject to obtaining the final order and
satisfaction of all conditions to closing, the plan of arrangement is expected
to close on or around June 13, 2007.

    Headquartered in Chicago, IL, Hub International Limited is a leading
North American insurance brokerage that provides a broad array of property and
casualty, reinsurance, life and health, employee benefits, investment and risk
management products and services through offices located in the United States
and Canada.

    Forward Looking Statements:

    This press release may contain "forward-looking statements" as defined in
Section 21E of the Securities Exchange Act of 1934, as amended, that reflect
our current expectations regarding our future growth, results of operations,
cash flows, performance and business prospects, and opportunities, as well as
assumptions made by, and information currently available to, our management.
We have used words such as "anticipate," "believe," "expect," "intend,"
"plan," "project," "will continue," "will likely result," and similar
expressions to indicate forward-looking statements. However, these words are
not the exclusive means of identifying these forward-looking statements. These
statements are based on information currently available to us and are subject
to various risks, uncertainties, and other factors that could cause our actual
growth, results of operations, financial condition, cash flows, performance
and business prospects, and opportunities to differ materially from those
expressed in, or implied by, these statements, including, but not limited to:
risks associated with implementing our business strategies, identifying and
consummating acquisitions, successfully integrating acquired businesses,
attaining greater market share, resolution of regulatory issues and
litigation, including those related to compensation arrangements with
insurance carriers, the possibility that the receipt of contingent
compensation from insurance carriers could be prohibited, developing and
implementing effective information technology systems, recruiting and
retaining qualified employees, fluctuations in the demand for insurance
products, fluctuations in the premiums charged by insurance carriers, with
corresponding fluctuations in our premium-based revenue, fluctuations in
foreign currency exchange rates, any loss of services of key executive
officers, industry consolidation, increased competition in the industry, the
actual costs of resolution of contingent liabilities, the passage of new
federal, state or provincial legislation subjecting our business to regulation
in the jurisdictions in which we operate, and those risks discussed in our
Annual Report on Form 10-K, particularly under the caption "Risk Factors,"
filed with the Securities and Exchange Commission and the Canadian securities
commissions. These uncertainties and other factors also include, but are not
limited to, risks associated with the transaction, including the occurrence of
any event, change or other circumstances that could give rise to the
termination of the arrangement. Many of the factors that will determine the
outcome of the subject matter of this press release are beyond Hub's ability
to control or predict. We caution readers not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. Except as otherwise expressly required by federal securities laws, we
undertake no obligation to update or publicly announce the revision of any of
the forward-looking statements contained herein to reflect new information,
future events, developments or changed circumstances or for any other reason.




For further information:

For further information: Hub International Limited W. Kirk James,
312.279.4881 Vice President, Secretary and Chief Corporate Development Officer
Kirk.james@hubinternational.com

Organization Profile

HUB INTERNATIONAL LIMITED

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890