The parties intend for YTB to be the survivor in a merger with a wholly-owned subsidiary of LTS. YTB will continue to operate as a standalone company focusing on the sale of travel businesses as it has done for over 10 years.
LTS focuses on "people helping people" by developing breakthrough nutritional products that promote positive change and lifelong transformation. LTS markets its products through multiple channels; including retail, direct sales (direct to consumer via TV, radio, Web and mail) and a new and improved form of person-to-person selling, commonly known as network or multi-level marketing.
The proposed merger would result in substantial cost savings and efficiencies allowing the Company to continue its plan for growth and global expansion. LTS has been approved to operate in Hong Kong, Singapore, and Taiwan and will be a great resource as YTB seeks to expand its business into Asia.
Consummation of the transaction is subject to customary conditions and approvals, including ratification of the Board of Directors for YTB and LTS, shareholder approval of the Company and applicable regulatory approvals.
J. Scott Tomer, Chairman of the Board of YTB International, Inc., commented, "We are very excited about the new global capacity that this potential merger agreement could bring to our business. Two companies working together to individually strengthen their own products and services is a first for our industry, and we're excited to be a part of it."
