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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 23, 1996
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REPUBLIC INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-9787 73-1105145
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(Commission (IRS Employer
File Number) Identification No.)
450 East Las Olas Boulevard
Suite 1200
Ft. Lauderdale, FL 33301
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (954) 713-5200
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N.A.
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On December 23, 1996, Republic Industries, Inc. (the "Registrant") announced
its intention to acquire Ed Mullinax, Inc. and its subsidiaries (collectively,
"Mullinax") in a merger transaction (the "Merger"). It is contemplated that the
Registrant will issue shares of its common stock, $0.01 par value having a
value of approximately $100 million in connection with the Merger.
Consummation of the Merger is subject to customary conditions, including
receipt of regulatory approvals.
The descriptions contained herein of the Merger are qualified in their entirety
by reference to the Press Release, dated December 23, 1996, attached hereto as
Exhibit 99, which is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits.
The Exhibits to this Report are listed in the Exhibit Index set
forth elsewhere herein.
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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.
REPUBLIC INDUSTRIES, INC.
By: /s/ Michael S. Karsner
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Michael S. Karsner
Senior Vice President
and Chief Financial Officer
Date: December 31, 1996
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REPUBLIC INDUSTRIES, INC.
EXHIBIT INDEX
Number and
Description of Exhibit
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1. None
2. None
4. None
16. None
17. None
21. None
23. None
24. None
27. None
99. Press Release, dated December 23, 1996.
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EXHIBIT 99
REPUBLIC INDUSTRIES, INC.
450 East Las Olas Boulevard
Suite 1200
Fort Lauderdale, Florida 33301
954-713-5200
954-713-2115 FAX
FOR IMMEDIATE RELEASE CONTACT: J. RONALD CASTELL
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ED MULLINAX, INC. TO MERGE WITH REPUBLIC INDUSTRIES
Fort Lauderdale, Florida (December 23, 1996) - Republic Industries,
Inc. (NASDAQ:RWIN) announced today that it has signed definitive agreements
providing for a merger with Ed Mullinax, Inc. and its subsidiaries. Mullinax
owns and operates five Ford and Lincoln-Mercury dealerships in Northeast Ohio
and South Florida.
H. Wayne Huizenga, Chairman and Co-Chief Executive Officer of Republic,
commented "the merger of the Mullinax dealerships with Republic creates a solid
foundation from which we will implement our new vehicle strategy in markets
where we will develop AutoNation USA. By combining new vehicles with AutoNation
USA, we will reach the consumer at every level in the automotive buying and
service process."
Mr. Huizenga also stated "Ed Mullinax and his seasoned management team
bring a wealth of talent and experience to our automotive operations. Ed is an
innovator, having pioneered the "one-price" selling process. His company has
operated with a true commitment to the customer with a "no haggle" selling
philosophy for over 20 years."
Mullinax is the number one Ford retailer in the United States. He
operates dealerships in Wickliffe, North Canton, Amherst and Brunswick, Ohio as
well as Margate, Florida.
In connection with the merger, Ed Mullinax, his sons Larry and Jerry,
along with his long-time business partner, Pat O'Brien, and other key members
of the their management team will enter into long-term employment agreements
with Republic.
The closing is subject to customary conditions. Republic has obtained
necessary approvals from Ford and Lincoln-Mercury for the merger. The
transaction is expected to close in early 1997. Republic anticipates issuing
common stock having a value of approximately $100 million at closing.
Republic is a diversified company operating in the automotive, solid
waste, electronic security and out-of-home media industries.
