Shareholders overwhelmingly approve sale of firm to Werba Reinhard
Loring Ward International Ltd. has successfully successful completion the sale of the company to Werba Reinhard Inc., the company announced Friday.Through the previously announced plan of arrangement, Werba Reinhard Holdings Ltd., a subsidiary of Werba Reinhard Inc., acquired all of the outstanding shares of the Loring Ward for a cash purchase price of U.S.$11.25 per […]
The Ontario Superior Court of Justice on Wendesday issued the final order in respect of the proposed sale of Loring Ward International Ltd. to Werba Reinhard Holdings Ltd., a subsidiary of Werba Reinhard, Inc.As announced earlier this week, at a special meeting held on Jan. 5, shareholders approved the transaction which will result in shareholders […]
Deal expected to close on Jan. 30
Cash deal valued at US$11.25 a share
Loring Ward International Ltd. announced Friday the termination of the pending sale of the company to Werba Reinhard, Inc.Werba Reinhard was to acquire all of the outstanding shares of Loring Ward for US$18 a share in cash.One of the closing conditions of the transaction required that Loring Ward’s AUM/AUA not have declined by more than […]
Sale may not be completed due to decline in AUM, company says
Financial advisory firm Loring Ward International Ltd. today announced that it has agreed to be acquired by Werba Reinhard, Inc. for US$18 a share.Werba Reinhard is controlled by Loring Ward’s largest shareholder, Eli Reinhard, and Alan Werba, one of Loring Ward’s largest investment advisor clientsUnder the agreement, an affiliate of Werba Reinhard will acquire all […]
Werba Reinhard Holdings has raised its bid for Loring Ward International Ltd., offering US$18 a share for the financial advisory firm.Today’s bid bid follows Loring Ward’s recommendation Tuesday that shareholders accept an offer of US$17.35 a share from Friedman Fleischer and Lowe.That bid, valuing Loring Ward at US$134 million, topped an earlier offer from Werba […]
A shareholder’s bid to take over Loring Ward International has been scrapped, as Werba Reinhard Holdings has withdrawn its offer.The board of Loring Ward had recommended other shareholders reject the offer, saying it was simply too low. The company says it will still entertain offers from other interested parties, while inviting Werba Reinhard to submit […]