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) October 26, 1999
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The CIT Group, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-1861 13-2994534
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1211 Avenue of the Americas
New York, New York 10036
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Registrant's telephone number, including area code (212) 536-1390
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
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See the attached press releases, which are incorporated herein by
reference, regarding:
1. The approval by stockholders, at a Special Meeting of Stockholders, of
the pending acquisition of Newcourt Credit Group Inc., filed as
Exhibit 99.1; and
2. The declaration of a dividend for the quarter ending September 30, 1999
of $.10 per share, payable on November 30, 1999 to holders of record at
the close of business on November 10, 1999, filed as Exhibit 99.2.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
99.1 Press Release, dated October 26, 1999, Regarding Shareholder
Approval of Acquisition of Newcourt Credit Group Inc.
99.2 Press Release, dated October 26, 1999, Regarding Declaration
of a Dividend for the Quarter Ending September 30, 1999.
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SIGNATURES
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.
THE CIT GROUP, INC.
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(Registrant)
By: /s/ JOSEPH M. LEONE
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Joseph M. Leone
Executive Vice President and
Chief Financial Officer
Dated: October 26, 1999
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SIGNATURES
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.
THE CIT GROUP, INC.
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(Registrant)
By:
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Joseph M. Leone
Executive Vice President and
Chief Financial Officer
Dated: October 26, 1999
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Exhibit 99.1
[The CIT Group, Inc. Logo]
Contact: Michael J. McGowan
Vice President
Communications Services
(973) 535-3506
[email protected]
FROM: THE CIT GROUP, INC.
650 CIT DRIVE
LIVINGSTON, NJ 07039
FOR IMMEDIATE RELEASE
THE CIT GROUP SHAREHOLDERS APPROVE ACQUISITION OF NEWCOURT CREDIT GROUP
LIVINGSTON, NEW JERSEY, October 26, 1999 --- The CIT Group, Inc.
(NYSE:CIT)announced today that it has received shareholder approval to complete
the acquisition of Newcourt Credit Group Inc. (NYSE, TSE, MSE:NCT). CIT has
already received approval to acquire Newcourt from the Federal Reserve Board and
from the Minister of Finance of Canada. The acquisition is expected to close in
the fourth quarter. Earlier today, Newcourt shareholders gave their approval to
the acquisition.
"We are pleased that CIT's shareholders are supportive of this strategic
acquisition," said Albert R. Gamper, Jr., President and CEO of The CIT Group.
"Our shareholders recognize the dynamics of this combination, putting CIT and
Newcourt together to create the industry's largest publicly-owned commercial
finance company. Our integration teams have been working diligently to effect a
smooth transition and we will be in a position to immediately begin to execute
our integration plans."
CIT Shareholders also approved other matters at a special meeting held
today.
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<PAGE>
Exhibit 99.2
[The CIT Group, Inc. Logo]
Contact: Michael J. McGowan
Vice President
Communication Services
(973) 535-3506
[email protected]
FROM: THE CIT GROUP, INC.
1211 AVENUE OF THE AMERICAS
NEW YORK, NY 10036
FOR IMMEDIATE RELEASE
THE CIT GROUP, INC. DECLARES REGULAR QUARTERLY DIVIDEND
LIVINGSTON, NEW JERSEY, October 26, 1999 --- The Board of Directors of
The CIT Group, Inc. (NYSE:CIT) today declared a regular quarterly cash dividend
of $.10 per common share for shareholders of record on November 10, 1999. The
cash dividend is payable on November 30, 1999.
With more than $28 billion in managed assets, The CIT Group, Inc.
(http://www.citgroup.com) is one of the nation's largest commercial and consumer
financing companies. Founded in 1908, the Company provides diversified
financing products and services to a broad range of customers through
strategically focused business units.
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