Lazard World Dividend & Income Fund & Lazard Global Total Return & Income Fund Announce Stockholder Approval of Proposed Merger
15 Novembre 2019 - 10:26PM
Business Wire
Lazard World Dividend & Income Fund, Inc. (NYSE: LOR)
and Lazard Global Total Return and Income Fund, Inc. (NYSE:
LGI) (together with LOR, the "Funds") today announced that
holders of a majority of each Fund's outstanding shares of common
stock have approved the proposal to merge LOR with and into LGI,
pursuant to an Agreement and Plan of Merger (the "Merger"). LGI
stockholders approved the Merger at LGI's Adjourned Annual Meeting
of Stockholders, which was held today, November 15, 2019. As was
announced publicly by press release dated October 18, 2019, LOR
stockholders previously approved the Merger at LOR's Annual Meeting
of Stockholders held on October 18, 2019. Subject to the
satisfaction of certain customary closing conditions, the Merger is
currently expected to be consummated as of the close of business on
December 3, 2019. Upon consummation of the Merger, LOR stockholders
will become LGI stockholders, and LOR's assets and liabilities will
be combined with LGI's assets and liabilities. The combined fund
will retain the name "Lazard Global Total Return and Income Fund,
Inc." and retain the "LGI" ticker symbol. In light of the expected
timing for the closing of the Merger, LOR will not be paying any
further distributions pursuant to its level distribution policy,
including a monthly distribution for December 2019.
An indirect subsidiary of Lazard Ltd (NYSE: LAZ), Lazard Asset
Management LLC, the Funds' investment manager, offers a range of
equity, fixed-income, and alternative investment products
worldwide. As of October 31, 2019, LAM and affiliated asset
management companies in the Lazard Group managed $235.8 billion
worth of client assets. For more information about LAM, please
visit www.LazardAssetManagement.com. Follow LAM at
@LazardAsset.
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version on businesswire.com: https://www.businesswire.com/news/home/20191115005492/en/
Media contact:
Hillary Yaffe, +1 212 632
6528 hillary.yaffe@lazard.com Investor contact: Ben Wulfsohn, +1 800 823 6300
ben.wulfsohn@lazard.com
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