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) November 8, 1996
CPI CORP.
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(exact name of registrant as specified in its charter)
Delaware 0-11227 43-1256674
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(State or other jurisdiction (Commission file (IRS Employer
of incorporation) Number) Identification No.)
1706 Washington Avenue, St. Louis, Missouri 63103-1790
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(Address of principal executive offices) (Zip code)
Registrants' telephone number, including area code (314) 231-1575
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(Former name or former address, if changes since last report.)
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On November 8, 1996, CPI Corp. issued the following press
release:
CPI CORP. ANNOUNCES FINAL TENDER OFFER RESULTS
St. Louis, MO., November 8, 1996 -- CPI Corp. (NYSE: CPY)
today announced the final results of its Dutch auction
tender offer which expired Monday, November 4 at
12:00 midnight, New York City time.
CPI said that 4,436,388 shares were tendered at $19.00
per share. Under the terms of the offer, CPI has
purchased 2,250,000 shares of its common stock at
$19.00 per share. The final proration factor for the
tender offer is 50.7 percent. The depository for the
tender offer will issue payment promptly for the shares
that have been purchased. Shares purchased under the
tender offer will not be eligible for the fourth quarter
dividend declared November 7, 1996 and payable
November 25, 1996 to shareholders of record as of
November 18, 1996.
CPI is a consumer services company with $527.6 million in
fiscal 1995 sales from continuing operations, operating
over 1,700 retail locations, including 1,029 Sears Portrait
Studios in the U. S., Puerto Rico and Canada, 154 Prints
Plus wall decor locations and, in a joint venture with
Eastman Kodak Co., 524 photofinishing locations.
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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.
CPI CORP.
(Registrant)
/s/ Barry Arthur
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Barry Arthur
Authorized Officer and
Principal Financial Officer
Dated: November 12, 1996
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