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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 16, 1996
THE LOEWEN GROUP INC.
(Exact name of registrant as specified in its charter)
British Columbia, Canada 0-18429 98-0121376
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
4126 Norland Avenue, Burnaby, British Columbia V5G 3S8
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code 604-299-9321
N/A
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(Former name or former address, if changed since last report)
Exhibit Index is on page 3
Page 1 of 5
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ITEM 5. OTHER EVENTS.
Pursuant to Form 8-K, General Instructions F, registrant hereby incorporates by
reference the press release attached hereto as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
Exhibit No. Description
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Exhibit 99 The Loewen Group Inc. Press Release dated
December 16, 1996
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated: December 17, 1996
THE LOEWEN GROUP INC.
By: /s/Peter S. Hyndman
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Name: Peter S. Hyndman
Title: Corporate Secretary
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EXHIBIT INDEX
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Sequential
Number Exhibit Page Number
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99 The Loewen Group Inc. 4
Press Release dated December 16, 1996
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THE LOEWEN GROUP INC.
NEWS
Contacts: David A. Laundy
The Loewen Group Inc.
(604) 293-7857
Thomas C. Franco
Broadgate Consultants, Inc.
(212) 229-2222
FOR IMMEDIATE RELEASE
LOEWEN GROUP EXPECTS TO MAINTAIN
ACQUISITION MOMENTUM INTO 1997
- More Than $325 Million in New Acquisitions Completed or Signed Since
SCI Hostile Takeover Announced
- 51 New Independent Operators Select Loewen Group as Preferred Acquirer
- Acquisitions Signal Confidence the Loewen Group Will Remain Independent
VANCOUVER, December 16, 1996 -- The Loewen Group Inc. (NYSE, TSE, ME: LWN) today
announced that since the announcement of Service Corporation International's
(SCI) hostile takeover bid a total of 51 independent proprietors of funeral
homes and cemeteries have indicated their confidence that the Loewen Group will
remain independent by signing or closing transactions to sell properties valued
at more than $325 million to the company. The Loewen Group has clearly become
the preferred acquirer in the industry in 1996 with acquisitions or structured
transactions totaling US$1.4 billion to date.
"Through strategic acquisitions and investments Loewen Group has solidified its
position in 1996 as the preferred acquirer in our industry," said Raymond L.
Loewen, Chairman and Chief Executive Officer. "We achieved the largest
acquisition volume of any funeral and cemetery company and expect to maintain
this aggressive acquisition pace next year," said Mr. Loewen. Loewen Group
completed notable transactions throughout North America which have enhanced the
long-term strength of the company's two primary businesses -- funeral services
and cemetery operations. "We completed transactions that provide significant
benefits to all of our shareholders and in the process created a more dynamic
and exciting company for investors and employees."
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Loewen Group plays an important and constructive role in facilitating the
orderly transition of ownership and management of funeral homes and cemeteries
from one generation to the next. "Our success is based upon a combination of the
quality of services we offer to families at a time of great need and our
management's sensitivity to the needs and aspirations of local funeral home
operators. That the level of interest by many independent operators in
associating with Loewen Group has increased tremendously since the announcement
of SCI's hostile takeover is a clear indication that these operators believe the
Loewen Group will remain independent and want to join our corporate culture."
Properties either acquired by or invested in by the Loewen Group in 1996 include
Rose Hills Memorial Park and Prime Succession Inc., two of the most prestigious
assets in the industry, S.I. Acquisitions Associates L.P., with its 15 funeral
homes, two cemeteries and two insurance companies and CMS West with its seven
funeral homes and 28 cemeteries.
With corporate offices in Vancouver, British Columbia, Cincinnati and
Philadelphia, The Loewen Group Inc. is the second largest funeral home and
cemetery operator in North America. The Company employs approximately 13,000
people and owns or operates 951 funeral homes and 299 cemeteries across the
United States and Canada. Over 90% of the Company's revenue is derived from the
United States.
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