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): April 4, 1997
MidAmerican Energy Holdings Company
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(Exact name of registrant as specified in its charter)
Iowa 1-12459 42-1451822
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
666 Grand Avenue, P. O. Box 657, Des Moines, Iowa 50303-0657
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 515/242-4300
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Item 5 Other Events.
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MidAmerican Energy Holdings Company ("MidAmerican" or "Company")
announced on April 4, 1997 that it has purchased more than 1.1 million shares of
its common stock over the past three week period. MidAmerican announced a stock
repurchase program on March 6, 1997 with the intent to repurchase up to $200
million of its common stock from time to time as market conditions warrant,
completing the entire repurchase program by December 31, 1998. Dillon, Read &
Co. Inc. Has been retained as agent for the repurchase program.
MidAmerican now has just under 100 million common shares outstanding.
The Company's common stock is traded on the New York Stock Exchange under the
symbol MEC. A copy of MidAmerican's press release with respect to the stock
repurchase program is attached as an exhibit to this report.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits.
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1. Press Release of MidAmerican Energy Holdings Company
dated April 4, 1997.
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Signature
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 thereunto duly authorized.
MIDAMERICAN ENERGY HOLDINGS COMPANY
/s/ Paul J. Leighton
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Paul J. Leighton
Vice President and Corporate Secretary
April 4, 1997
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Exhibit 99
April 4, 1997
Media: John F. McCarroll (515) 281-2785
Investor Relations: J. Sue Rozema (515) 281-2250
MidAmerican Energy Holdings Company today said it has repurchased more than 1.1
million shares of the Company's common stock during the past three weeks. The
Company announced on March 6 its intent to repurchase up to $200 million in
common stock.
"The stock repurchase has proceeded very well," said Philip G. Lindner, senior
vice president and chief financial officer. "We intend to complete the stock
repurchase no later than Dec. 31, 1998."
Dillon, Read & Co. Inc. has been retained as agent for the repurchase program.
The $200 million authorization will allow the repurchase of more than 10 percent
of shares outstanding at current market prices. The Company now has just under
100 million common shares outstanding. The common stock of MidAmerican Energy
Holdings is traded on the New York Stock Exchange under the symbol MEC.
MidAmerican Energy Holdings Company, headquartered in Des Moines, Iowa, has
three subsidiaries: MidAmerican Energy Company, MidAmerican Capital Company and
Midwest Capital Group, Inc. MidAmerican Energy Company, Iowa's largest utility,
serves 642,000 electric customers and 610,000 natural gas customers in Iowa,
Illinois, Nebraska and South Dakota. MidAmerican Capital manages nonregulated
businesses involved in railcar management and repair, electric and natural gas
marketing, communications, security systems and passive investments. Midwest
Capital is involved in regional economic development. Information on MidAmerican
is available on the Internet at http://www.midamerican.com.
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