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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: August 8, 2000
Date of Earliest Event Reported: July 24, 2000
Commission file number 1-10994
PHOENIX INVESTMENT PARTNERS, LTD.
(Exact name of registrant as specified in its charter)
DELAWARE 95-4191764
(State of Incorporation) (I.R.S. Employer Identification No.)
56 Prospect St., Hartford,
Connecticut 06115-0480 (860) 403-5000
(Address of principal executive offices ) (Registrant's telephone number)
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Item 5. Other Events.
On July 24, 2000, the Board of Directors of Phoenix Investment Partners, Ltd.
("Phoenix Investment Partners") announced that it received an offer from its
majority stockholder, Phoenix Home Life Mutual Insurance Company (Phoenix Home
Life) to purchase all of the outstanding shares of Phoenix Investment Partners
not already owned by Phoenix Home Life.
Additional information is set forth in Phoenix Investment Partner's press
release, which is attached as Exhibit 99.1 hereto and is incorporated herein by
reference.
Item 7. Financial Statements and Other Exhibits.
(c) Exhibits.
Exhibit No. Description
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99.1 Press release dated July 24, 2000.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Phoenix Investment Partners, Ltd.
August 8, 2000 /s/ William R. Moyer
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William R. Moyer, Chief Financial Officer
Exhibit 99.1
Monday July 24, 5:48 pm Eastern Time
Company Press Release
Phoenix Investment Partners Receives Offer From Phoenix Home Life Mutual
Insurance Company To Purchase All Outstanding Shares
HARTFORD, Conn.--(BUSINESS WIRE)--July 24, 2000--Phoenix Investment Partners,
Ltd. (NYSE:PXP - news) today announced that it has received an offer dated July
24, 2000, from Phoenix Home Life Mutual Insurance Company (Phoenix) for the
acquisition of all of the outstanding shares of Phoenix Investment Partners not
already owned by Phoenix at a price of $12.50 per share in cash.
Phoenix currently owns 26,400,000 shares or 59.49 percent of the 44,380,778
shares of PXP common stock outstanding as of June 30, 2000.
The Phoenix offer was made to a special committee of independent directors of
the Board of Phoenix Investment Partners established by the Board to consider
any offer by Phoenix to acquire the publicly held shares if and when made. The
special committee has engaged Salomon Smith Barney, Inc. as its financial
advisor and Lord, Bissell & Brook as its legal counsel in connection with the
transaction and will be reviewing the offer.
Phoenix Investment Partners, Ltd. (NYSE:PXP), with more than $60 billion in
assets under management, is a leading U.S. investment management company
providing individuals and institutions with access to eight boutique money
managers, a full range of distinct investment disciplines, and a variety of
money management services. The company is headquartered in Hartford,
Connecticut, which is also home to its majority stockowner, Phoenix Home Life
Mutual Insurance Company. For additional information, visit
www.phoenixinvestments.com.
Contact:
Phoenix Investment Partners, Ltd.
Sharon M. Bray
Corporate Communications
860-403-5748
sharon_bray@phl.com