Lazard World Dividend & Income Fund and Lazard Global Total Return and Income Fund Announce Closing of Merger
December 03 2019 - 7:21PM
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 the
merger of LOR with and into LGI, pursuant to an Agreement and Plan
of Merger (the "Merger"), was consummated as of the close of
business today, December 3, 2019 (the "Closing Date"). In the
Merger, shares of LOR common stock were converted into shares of
LGI common stock, based on the net asset value of each Fund as of
the close of business on the Closing Date. The exchange ratio at
which shares of LOR common stock were converted into shares of LGI
common stock was 0.6185197244. The combined fund has retained the
name "Lazard Global Total Return and Income Fund, Inc." and the
"LGI" ticker symbol. LOR ceased trading as of the close of business
today.
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/20191203006110/en/
Media: Hillary Yaffe, +1 212 632 6528
hillary.yaffe@lazard.com
Investors: Ben Wulfsohn, +1 800 823 6300
ben.wulfsohn@lazard.com
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