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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) January 7, 1997
THE LOEWEN GROUP INC.
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
British Columbia, Canada 0-18429 98-0121376
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(State or other jurisdiction of (Commission File Number) (IRS Employer Identification No.)
incorporation)
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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
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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.
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Exhibit No. Description
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Exhibit 99 The Loewen Group Inc. Press Release dated January 7, 1997
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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: January 8, 1997
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 January 7, 1997
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The Loewen Group Inc. January 7, 1997 Page 1
THE LOEWEN GROUP INC.
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NEWS
Stock Symbols:
NYSE: LWN Media Contacts:
TSE: LWN Dave Laundy, Vice President,
ME: LWN Communications
(All amounts listed in U.S. dollars) The Loewen Group Inc.
Tel: (604) 293-7857
Thomas C. Franco
Broadgate Consultants, Inc.
Tel: (212) 229-2222
FOR IMMEDIATE RELEASE
LOEWEN GROUP TO PURSUE ITS INDEPENDENT GROWTH STRATEGY
o LOEWEN ANNOUNCES RECORD ACQUISITIONS FOR 1996
VANCOUVER, BRITISH COLUMBIA, JANUARY 7, 1997 - The Loewen Group Inc. (NYSE,
TSE, ME: LWN) announced today that it is pleased that Service Corporation
International (SCI) has decided to withdraw its hostile takeover bid.
The Company takes exception with the reasons cited in SCI's press release
earlier today for withdrawing its hostile bid. The Loewen Board of Directors
has consistently stated that the SCI proposal was inadequate and the best way
to maximize value for shareholders is through the continued implementation of
the Company's superior long-term business plan as an independent company.
Raymond L. Loewen, chairman and chief executive officer said, "Today's
announcement is good news for the industry, Loewen Group shareholders and
consumers. Our company has performed
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The Loewen Group Inc. January 7, 1997 Page 2
strongly throughout 1996, and with this distraction behind us, we look forward
to continued implementation of our growth strategy in 1997. As the preferred
acquirer in the funeral home and cemetery industry, our company has laid a
solid foundation for continued growth."
The Company announced that during 1996 its funeral home and cemetery
acquisition activity reached a record level, and the aggressive pace of
acquisition activity is continuing into 1997. The Company was involved in
acquisitions or structured transactions totaling $1.4 billion last year.
During 1996, The Loewen Group signed or closed acquisitions totaling a record
$830 million, compared with $795 million the previous year. The Company was
also involved in two major transactions completed with Blackstone Capital
Partners II Merchant Banking Fund L.P. to purchase Prime Succession Inc. of
Batesville, Indiana--North America's fourth largest supplier of funeral
services--for $295 million and Rose Hills cemetery and related mortuary of Los
Angeles--the largest cemetery in North America--for $240 million.
Mr. Loewen stated, "I am very optimistic about our ability to build shareholder
value in the future as we execute The Loewen Group's growth plans."
With corporate offices in Vancouver, British Columbia, Cincinnati and
Philadelphia, The Loewen Group Inc. is the second largest funeral home and
cemetery service company in North America. The Company employs in excess of
13,000 people and owns or operates 956 funeral homes and 313 cemeteries across
the United States and Canada. Over 90% of the Company's revenue is derived
from the United States.
