Lazard World Dividend & Income Fund Announces Expiration and Preliminary Results of Tender Offer
LAZARD WORLD DIVIDEND & INCOME (LOR)
US:NYSE Investor Relations:
lazardassetmanagement.com/us/en_us/funds/closed-end-funds/lazard-world-dividend-%26-income-fund%2c-inc./f120/s104
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Lazard World Dividend & Income Fund, Inc. (NYSE: LOR) today announced the expiration and preliminary results of its one-time tender offer to acquire, in exchange for cash, up to 20% of its outstanding shares of common stock (the "Offer"). The Offer expired today, August 21, 2019, at 5:00 p.m., New York City time, and was oversubscribed. The purchase price for validly tendered shares is $10.04 per share, which is equal to 98% of LOR's net asset value per share as of the close of regular trading on the New York Stock Exchange today.Based upon preliminary information provided by Broadridge Corporate Issuer Solutions, Inc., the information agent for the Offer (the "Information Agent"), 3,560,562 shares, or approximately 52% of LOR's outstanding shares, were tendered. Due to the fact that the number of shares tendered exceeded the number of shares LOR offered to purchase pursuant to the Offer, LOR will purchase the maximum percentage of outstanding shares it
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