News Annoucement - January 24, 2011
Suhor Makes Offer to Buy Wilbert Funeral Services, Inc. Stock
On January 24, 2011, a Tender Offer was received by Wilbert Funeral Services, Inc. (WFSI) shareholders offering to buy their stock or voting rights by Suhor Industries. The potential purchase of stock is intended to provide Suhor Industries with control of the Board of Directors of WFSI. This control would allow Suhor to implement a strategy of future growth and more licensee/licensor integration of products, services and ideas.
Suhor believes WFSI is stagnant in their strategy and growth plans and entrepreneurial viewpoint. Further, WFSI is losing market share and is presently without leadership. It is critical that the downward trend stop and WFSI grow their revenues and reckon with their competitors.
The offer is to acquire existing shareholder stock at $80 per share or acquire their voting rights at $5 per share for a three year period. If successful, Suhor will control the board for at least three years in order to implement the strategy that has been outlined to the shareholders.
Any questions about Suhor's Tender Offer should be forwarded to Joe Suhor or Dennis Welzenbach at the Corporate Office, 1-800-330-1869.