<PAGE>
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): December 9, 1996
EQUIFAX INC.
(Exact name of registrant as specified in its charter)
GEORGIA 1-6605 58-0401110
(State or other juris- (Commission (I.R.S. Employer
diction of incorporation) File Number) Identification No.)
1600 PEACHTREE STREET, N.W.
ATLANTA, GEORGIA 30309
(Address of principal executive offices)
(404) 885-8000
(Registrant's telephone number, including area code)
Page 1 of 5
Exhibit Index on Page 3
<PAGE>
Item 5. Other Events
- ------- ------------
Attached hereto as Exhibit 99 is a press release, dated December 9,
1996, announcing Equifax Inc.'s plan to spin off its insurance-
related businesses, which is incorporated herein by reference.
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 of the
undersigned hereunto duly authorized.
EQUIFAX INC.
(Registrant)
Date: December 9, 1996 By:/s/ D. W. McGlaughlin
-------------------------------
D. W. McGlaughlin
President and Chief
Executive Officer
Page 2 of 5
<PAGE>
EXHIBIT INDEX
Exhibit Description of Exhibit Page Number
------- ---------------------- -----------
99 Press release, dated December 9, 1996 4
Page 3 of 5
<PAGE>
EXHIBIT 99
[LETTERHEAD OF EQUIFAX APPEARS HERE]
- --------------------------------------------------------------------------------
NEWS RELEASE
FOR IMMEDIATE RELEASE
CONTACT: NORMAN BLACK
Public Affairs
404-888-5040 (o)
770-578-0679 (h)
[email protected]
EQUIFAX TO SPIN OFF INSURANCE INFORMATION SERVICES
TWO INDEPENDENT COMPANIES TO EMERGE
ATLANTA, DEC. 9, 1996 -- Equifax Inc., which operates in both the
financial and insurance service sectors, today announced its intention to split
into two independent public companies. The split will be accomplished through a
spinoff of the Insurance Information Services Group, giving Equifax stockholders
direct share ownership of that Group.
The move was approved by the Equifax Board of Directors today,
subject, among other things, to receipt of a favorable IRS ruling on tax-free
distributions of shares. The spinoff is designed as a tax-free dividend to
Equifax shareholders.
The split is being pursued because the corporation's two business
groups have diverged in their products, customers and strategies. By setting up
independent companies, the two will be better positioned to pursue new
opportunities and able to respond that much more quickly and efficiently to
changes in each of their marketplaces, without competing for corporate
resources.
"We start today with a 97-year-old company that's generating $1.7
billion in revenues and has posted 19 consecutive quarters of record earnings,"
said Daniel W. McGlaughlin, President and CEO. "So we clearly have not been
under pressure to split up. Rather, what we do have here is a great
opportunity, an opportunity to establish more focused, swifter companies ready
for the 21st century. This change in structure is going to increase our
competitiveness."
- more -
Page 4 of 5
<PAGE>
EQUIFAX SPLIT 2-2-2
Until the spinoff takes place, the management and structure of Equifax
will remain unchanged. Once the spinoff is completed, McGlaughlin will become
the vice chairman and CEO of Equifax, and Thomas F. Chapman, now executive vice
president, will become the president and chief operating officer. Derek V.
Smith, now executive vice president, will become the president and CEO of the
new insurance information services company. C.B. "Jack" Rogers Jr., will
continue to serve as chairman of the Equifax Board of Directors.
Once finalized, current shares will reflect a new Equifax represented
by the Financial Services Group, which already is a world leader in the fast
growing financial information markets. This new Equifax will accelerate a
stunning global expansion that has seen it launch operations in 14 countries in
just the past six years. Today, with $1.2 billion in annual revenue and sales
in 40 countries, the new Equifax is known for credit and commercial information,
card processing, check authorization, analytics and consulting, econometric
forecasting and financial software.
The insurance spinoff, with $559 million in annual revenue and more
than 4,500 employees, will continue to specialize in providing risk management
information to all sectors of the insurance industry as well as such services as
employment pre-screening, drug screening, laboratory testing, public records
information and computer software systems.
The plan to spin off the Insurance Information Services Group
envisions a tax-free, pro rata distribution of stock as a dividend to Equifax
shareholders. Final implementation will not occur before receipt of a favorable
IRS ruling, among other things, but is projected to be completed in roughly six
months. The new insurance information services company, which has yet to select
its new name, will have its own Board of Directors and its stock will trade on a
national exchange.
# # #
Page 5 of 5
