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: July 7, 2000
BLACK HILLS CORPORATION
State of South Dakota File Number 1-7978 IRS Number 46-0111677
625 Ninth Street
Rapid City, South Dakota 57709
Registrant's telephone number (605) 721-1700
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ITEM 5. OTHER EVENTS
Acquisition of Indeck Capital, Inc.
On July 7, 2000, Black Hills Corporation completed its acquisition of
Indeck Capital, Inc., merging it into Black Hills Energy Capital, Inc., a wholly
owned subsidiary of Black Hills Corporation. The acquisition was a stock
transaction, and will be accounted for under the purchase method of accounting.
Black Hills Corporation issued approximately 1.54 million shares of common stock
to the shareholders of Indeck in the acquisition priced at $22.13 per share
(approximately 7 percent of Black Hills Corporation's common stock after the
transaction), along with $4 million in preferred stock. Additional
consideration, consisting of common and preferred stock, may be paid in the form
of an earn-out over a four-year period. The earn-out consideration will be based
on the acquired company's earnings during the next four years and cannot exceed
$35.0 million in total. See page 31 of Item 7. Management's Discussion and
Analysis of Operations - Recent Developments and Acquisitions of the Company's
1999 Form 10-K and Exhibit 99 of this filing for further information on this
transaction.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) N/A
(b) N/A
(c) Exhibits.
4 Statement of Designations, Preferences and Relative Rights and
Limitations of No Par Preferred Stock, Series 2000-A of Black Hills
Corporation.
*10.1 Agreement and Plan of Merger, dated as of January 1, 2000, among
Black Hills Corporation, Black Hills Energy Capital, Inc., Indeck
Capital, Inc., Gerald R. Forsythe, Michelle R. Fawcett, Marsha
Fournier, Monica Breslow, Melissa S. Forsythe and John W. Salyer, Jr.
(Exhibit 2 to Schedule 13D filed on behalf of the former shareholders
of Indeck Capital, Inc. consisting of Gerald R. Forsythe, Michelle R.
Fawcett, Marsha Fournier, Monica Breslow, Melissa S. Forsythe and John
W. Salyer, Jr., dated July 7, 2000).
*10.2 Addendum to the Agreement and Plan of Merger, dated as of April 6,
2000, among Black Hills Corporation, Black Hills Energy Capital, Inc.,
Indeck Capital, Inc., Gerald R. Forsythe, Michelle R. Fawcett, Marsha
Fournier, Monica Breslow, Melissa S. Forsythe and John W. Salyer, Jr.
(Exhibit 3 to Schedule 13D filed on behalf of the former shareholders
of Indeck Capital, Inc. consisting of Gerald R. Forsythe, Michelle R.
Fawcett, Marsha Fournier, Monica Breslow, Melissa S. Forsythe and John
W. Salyer, Jr., dated July 7, 2000).
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*10.3 Supplemental Agreement Regarding Contingent Merger Consideration,
dated as of January 1, 2000, among Black Hills Corporation, Black
Hills Energy Capital, Inc., Indeck Capital, Inc., Gerald R. Forsythe,
Michelle R. Fawcett, Marsha Fournier, Monica Breslow, Melissa S.
Forsythe and John W. Salyer, Jr. (Exhibit 4 to Schedule 13D filed on
behalf of the former shareholders of Indeck Capital, Inc. consisting
of Gerald R. Forsythe, Michelle R. Fawcett, Marsha Fournier, Monica
Breslow, Melissa S. Forsythe and John W. Salyer, Jr., dated July 7,
2000).
*10.4 Supplemental Agreement Regarding Restructuring of Certain Qualifying
Facilities (Exhibit 5 to Schedule 13D filed on behalf of the former
shareholders of Indeck Capital, Inc. consisting of Gerald R. Forsythe,
Michelle R. Fawcett, Marsha Fournier, Monica Breslow, Melissa S.
Forsythe and John W. Salyer, Jr., dated July 7, 2000).
*10.5 Addendum to the Agreement and Plan of Merger, dated as of June 30,
2000, among Black Hills Corporation, Black Hills Energy Capital, Inc.,
Indeck Capital, Inc., Gerald R. Forsythe, Michelle R. Fawcett, Marsha
Fournier, Monica Breslow, Melissa S. Forsythe and John W. Salyer, Jr.
(Exhibit 6 to Schedule 13D filed on behalf of the former shareholders
of Indeck Capital, Inc. consisting of Gerald R. Forsythe, Michelle R.
Fawcett, Marsha Fournier, Monica Breslow, Melissa S. Forsythe and John
W. Salyer, Jr., dated July 7, 2000).
*10.6 Registration Rights Agreement among Black Hills Corporation, Gerald
R. Forsythe, Michelle R. Fawcett, Marsha Fournier, Monica Breslow,
Melissa S. Forsythe and John W. Salyer, Jr. (Exhibit 7 to Schedule 13D
filed on behalf of the former shareholders of Indeck Capital, Inc.
consisting of Gerald R. Forsythe, Michelle R. Fawcett, Marsha
Fournier, Monica Breslow, Melissa S. Forsythe and John W. Salyer, Jr.,
dated July 7, 2000).
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*10.7 Shareholders Agreement among Black Hills Corporation, Gerald R.
Forsythe, Michelle R. Fawcett, Marsha Fournier, Monica Breslow,
Melissa S. Forsythe and John W. Salyer, Jr. (Exhibit 8 to Schedule 13D
filed on behalf of the former shareholders of Indeck Capital, Inc.
consisting of Gerald R. Forsythe, Michelle R. Fawcett, Marsha
Fournier, Monica Breslow, Melissa S. Forsythe and John W. Salyer, Jr.,
dated July 7, 2000).
99 Black Hills Corporation (NYSE: BKH) press release "Black Hills
Corporation Completes Acquisition of Indeck Capital" dated July 11,
2000.
* Exhibit incorporated by reference
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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.
BLACK HILLS CORPORATION
By /s/ Roxann R. Basham
-------------------------------------------
Roxann R. Basham, Vice President -
Controller and Principal Accounting Officer
Dated July 21, 2000
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EXHIBIT INDEX
Exhibit
Number Description
------- -----------
4 Statement of Designations, Preferences and Relative Rights and
Limitations of No Par Preferred Stock, Series 2000-A of Black Hills
Corporation.
*10.1 Agreement and Plan of Merger, dated as of January 1, 2000, among Black
Hills Corporation, Black Hills Energy Capital, Inc., Indeck Capital,
Inc., Gerald R. Forsythe, Michelle R. Fawcett, Marsha Fournier, Monica
Breslow, Melissa S. Forsythe and John W. Salyer, Jr. (Exhibit 2 to
Schedule 13D filed on behalf of the former shareholders of Indeck
Capital, Inc. consisting of Gerald R. Forsythe, Michelle R. Fawcett,
Marsha Fournier, Monica Breslow, Melissa S. Forsythe and John W.
Salyer, Jr., dated July 7, 2000).
*10.2 Addendum to the Agreement and Plan of Merger, dated as of April 6,
2000, among Black Hills Corporation, Black Hills Energy Capital, Inc.,
Indeck Capital, Inc., Gerald R. Forsythe, Michelle R. Fawcett, Marsha
Fournier, Monica Breslow, Melissa S. Forsythe and John W. Salyer, Jr.
(Exhibit 3 to Schedule 13D filed on behalf of the former shareholders
of Indeck Capital, Inc. consisting of Gerald R. Forsythe, Michelle R.
Fawcett, Marsha Fournier, Monica Breslow, Melissa S. Forsythe and John
W. Salyer, Jr., dated July 7, 2000).
*10.3 Supplemental Agreement Regarding Contingent Merger Consideration,
dated as of January 1, 2000, among Black Hills Corporation, Black
Hills Energy Capital, Inc., Indeck Capital, Inc., Gerald R. Forsythe,
Michelle R. Fawcett, Marsha Fournier, Monica Breslow, Melissa S.
Forsythe and John W. Salyer, Jr. (Exhibit 4 to Schedule 13D filed on
behalf of the former shareholders of Indeck Capital, Inc. consisting
of Gerald R. Forsythe, Michelle R. Fawcett, Marsha Fournier, Monica
Breslow, Melissa S. Forsythe and John W. Salyer, Jr., dated July 7,
2000).
*10.4 Supplemental Agreement Regarding Restructuring of Certain Qualifying
Facilities (Exhibit 5 to Schedule 13D filed on behalf of the former
shareholders of Indeck Capital, Inc. consisting of Gerald R. Forsythe,
Michelle R. Fawcett, Marsha Fournier, Monica Breslow, Melissa S.
Forsythe and John W. Salyer, Jr., dated July 7, 2000).
*10.5 Addendum to the Agreement and Plan of Merger, dated as of June 30,
2000, among Black Hills Corporation, Black Hills Energy Capital, Inc.,
Indeck Capital, Inc., Gerald R. Forsythe, Michelle R. Fawcett, Marsha
Fournier, Monica Breslow, Melissa S. Forsythe and John W. Salyer, Jr.
(Exhibit 6 to Schedule 13D filed on behalf of the former shareholders
of Indeck Capital, Inc. consisting of Gerald R. Forsythe, Michelle R.
Fawcett, Marsha Fournier, Monica Breslow, Melissa S. Forsythe and John
W. Salyer, Jr., dated July 7, 2000).
*10.6 Registration Rights Agreement among Black Hills Corporation, Gerald
R. Forsythe, Michelle R. Fawcett, Marsha Fournier, Monica Breslow,
Melissa S. Forsythe and John W. Salyer, Jr. (Exhibit 7 to Schedule 13D
filed on behalf of the former shareholders of Indeck Capital, Inc.
consisting of Gerald R. Forsythe, Michelle R. Fawcett, Marsha
Fournier, Monica Breslow, Melissa S. Forsythe and John W. Salyer, Jr.,
dated July 7, 2000).
*10.7 Shareholders Agreement among Black Hills Corporation, Gerald R.
Forsythe, Michelle R. Fawcett, Marsha Fournier, Monica Breslow,
Melissa S. Forsythe and John W. Salyer, Jr. (Exhibit 8 to Schedule 13D
filed on behalf of the former shareholders of Indeck Capital, Inc.
consisting of Gerald R. Forsythe, Michelle R. Fawcett, Marsha
Fournier, Monica Breslow, Melissa S. Forsythe and John W. Salyer, Jr.,
dated July 7, 2000).
99 Black Hills Corporation (NYSE: BKH) press release "Black Hills
Corporation Completes Acquisition of Indeck Capital" dated July 11,
2000.
* Exhibit incorporated by reference
