Loring Ward to be acquired by Werba Reinhard for US$18.00 per share

    NEW YORK, July 30 /CNW/ - Loring Ward International Ltd. ("Loring Ward"
or the "Company") (TSX: LW) today announced that it has entered into a
definitive agreement (the "Agreement") with Werba Reinhard, Inc. ("WRI"), a
company controlled by Loring Ward's largest shareholder, Eli Reinhard, and
Alan Werba, one of Loring Ward's largest investment advisor clients, under
which an affiliate of WRI will acquire all of Loring Ward's outstanding shares
pursuant to a plan of arrangement at a price of US$18.00 per share in cash
payable in U.S. dollars (the "Plan of Arrangement"). The price is currently
equivalent to approximately Cdn$18.47, which represents a premium of
approximately 57.9% to the price on February 13, 2008, the day prior to the
initial announcement of an unsolicited offer for the Company. The price agreed
to with WRI exceeds the US$17.35 per share offer previously agreed to with
Friedman Fleischer & Lowe LLC ("FFL"), which has declined to match WRI's
proposed price.
    The Company has received an opinion from its financial advisor, BMO
Capital Markets, that the offer is fair from a financial point of view to
shareholders of Loring Ward. The Special Committee and Board have concluded
unanimously that shareholders should vote in favour of the Plan of Arrangement
with WRI and have determined that the transaction is fair and in the best
interests of shareholders.
    David Rattee, the Chairman of the Board and of the Special Committee of
independent directors who evaluated the offer and led the auction process,
said "We are unanimously recommending that shareholders approve this
transaction. We are very pleased with the outcome for our shareholders".
    The Plan of Arrangement is subject to certain conditions, including,
among others, minimum asset levels at the time of closing and required court
and shareholder approvals, as set forth in the Agreement. As a result, there
can be no assurance that it will be completed. The Agreement is not subject to
a financing condition, and WRI has advised that it has made appropriate
arrangements with its lenders to seek to obtain all required financing.
Pursuant to the agreement previously entered into with FFL, the Company has
paid FFL a transaction break fee and reimbursed FFL for its reasonable
transaction-related expenses.
    The special meeting of shareholders previously scheduled for August 6,
2008 has been cancelled and the management proxy circular and related
materials recently received by shareholders for consideration of the
acquisition of Loring Ward by FFL should be disregarded. A new special meeting
date is expected to be called in the near future, and a new management proxy
circular is expected to be mailed to shareholders in connection therewith.
Loring Ward also is seeking court approval to delay its annual general meeting
until no later than November 14, 2008.
    Further details are contained in the Agreement, a copy of which will be
filed on Sedar at www.sedar.com shortly.
    BMO Capital Markets acted as financial advisor to Loring Ward and GMP
Securities L.P. acted as financial advisor to WRI.

    About Loring Ward

    Loring Ward International Ltd. provides in its core business a turnkey
asset management program to some of America's most knowledgeable and
successful investment advisors and their clients. These services include
investment strategies and products, back office operational processing,
education and training, and business development support. The Company's U.S.
corporate offices are headquartered in New York. For more information, please
visit www.loringward.com.
    The Company, in the ordinary course of its business, may explore
potential proposals or be the recipient of proposals with respect to strategic
opportunities and transactions, which may include strategic joint venture
relationships, significant debt or equity investments in or by the Company,
the acquisition or disposition of material assets or business lines, mergers,
new products or services, new distribution methods and other similar strategic
opportunities or transactions. The Company's policy is generally not to
publicly disclose the pursuit of a potential strategic opportunity or
transaction unless and until a definitive binding agreement is reached. The
public announcement of such matters could potentially materially affect the
price or value of the Company's securities. As a result, there can be no
assurance that investors who buy or sell the Company's securities are doing so
at a time when the Company is not pursuing a particular strategic opportunity
or transaction that, if publicly disclosed, could materially affect the price
or value of the Company's securities.

    Information in this news release that is not current or historical
factual information may constitute forward-looking information within the
meaning of securities laws. Forward-looking statements may include those
relating to the Company's objectives and strategies, as well as statements of
our beliefs, plans, expectations and intentions. Implicit in this information
are assumptions regarding future revenue and expenses, economic conditions,
and the results of pending litigation involving the Company, as well as our
business strategy, expectations, intentions, and other matters. These
assumptions may prove to be incorrect, and actual outcomes and results,
including the future operating results and economic performance of the
Company, may differ materially because of many factors, including those
discussed in this press release and in our other public filings. For more
information on these risks and uncertainties you should refer to our detailed
Financial Statements and Management's Discussion and Analysis, as well as a
broader description of certain challenges and risks facing the Company, all of
which is available at www.sedar.com. Forward-looking information contained in
this news release is based on our current estimates, expectations and
projections, which we believe are reasonable as of the current date. You
should not place undue importance on forward-looking information and should
not rely upon this information as of any other date. The Company disclaims any
intention or obligation to update the information in this press release or
revise any other forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required by law.

For further information:

For further information: Robert Herrmann, Phone: (212) 907-8080, E-mail:

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