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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) June 12, 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.)
200 East Las Olas Boulevard
Suite 1400
Ft. Lauderdale, FL 33301
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (954) 627-6000
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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 June 12, 1996, Republic Industries, Inc. (the "Registrant") announced that
it had entered an agreement to acquire CarChoice, Inc., a developer and
operator of used car superstores, in a transaction valued at approximately $95
million. The transaction, which is subject to customary closing conditions,
will be completed through the issuance by the Registrant of shares of its
common stock. The transaction will be accounted for using the pooling of
interests method of accounting.
The descriptions contained herein of the transaction are qualified in their
entirety by reference to the Press Release, dated June 12, 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/ Richard L. Handley
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Richard L. Handley
Senior Vice President
Date: June 17, 1996
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REPUBLIC INDUSTRIES, INC.
EXHIBIT INDEX
<TABLE>
<CAPTION>
Number and
Description of Exhibit
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<S> <C>
1. None
2. None
4. None
16. None
17. None
21. None
23. None
24. None
27. None
99. Press Release, dated June 12, 1996.
</TABLE>
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Exhibit 99
REPUBLIC INDUSTRIES, INC.
200 East Las Olas Boulevard
Suite 1400
Fort Lauderdale, Florida 33301
954-627-6000
954-779-3884 FAX
FOR IMMEDIATE RELEASE CONTACT: J. RONALD CASTELL
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REPUBLIC INDUSTRIES, INC. TO ACQUIRE CARCHOICE, INC.
Ft. Lauderdale, Florida (June 12, 1996)--Republic Industries, Inc.
(NASDAQ:RWIN) today announced that it has agreed to acquire CarChoice, Inc., a
developer and operator of used car superstores. This agreement follows
Republic's previously announced intention to acquire AutoNation USA, a
corporation which is developing a similar chain of used car megastores.
H. Wayne Huizenga, Chairman and Chief Executive Officer of Republic,
stated "With CarChoice and AutoNation USA, Republic will become a leading force
in the used car industry. Together, these acquisitions will give us a
substantial presence in several major markets and a solid foundation for
expanding our concept across the United States."
CarChoice currently operates superstores in Dallas, Texas and Detroit,
Michigan and has nine additional sites under development.
The transaction is valued at approximately $95 million and will be
completed through the issuance by Republic of shares of its common stock. The
transaction is subject to customary closing conditions and will be accounted
for under the pooling-of-interests method of accounting. Upon closing of the
transaction, Waad J. Nadhir will continue as President and Chief Executive
Officer of CarChoice. He will become Vice Chairman of AutoNation USA upon
Republic's acquisition of AutoNation USA.
Republic is a diversified company operating in the solid waste and
electronic security services industries. The Company is expanding into the
automotive industry.
