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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 24, 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 24, 1996, Republic Industries, Inc. issued a press release, which
is attached hereto as Exhibit 99 and 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: January 2, 1997
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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 24, 1996.
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Exhibit 99
[LOGO] 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: MICHAEL KARSNER
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REPUBLIC COMPLETES TENDER OFFER FOR ALAMO SENIOR NOTES AND
ANNOUNCES FOURTH QUARTER CHARGES
Fort Lauderdale, Florida (December 24, 1996) - Republic Industries,
Inc. (NASDAQ:RWIN), today announced that its wholly-owned subsidiary, Alamo
Rent-A-Car Inc., has completed the previously announced Consent Solicitation
and Tender Offer, repurchasing substantially all of the outstanding $100
million aggregate principal amount 11 3/4% Senior Notes Due 2006 issued by
Alamo and certain affiliates on February 16, 1996. The completion of the
Consent Solicitation and Tender Offer and the refinancing of other Alamo debt
will result in an extraordinary charge in the fourth quarter of approximately
$30 million, net of income taxes. The refinancing of the Alamo debt was
completed at substantially lower interest rates.
In addition to the charges associated with the refinancing of the Alamo
debt, Republic intends to take a one-time pre-tax charge in the fourth quarter
of 1996 of approximately $90 million related primarily to the integration of
the operations of Alamo with Republic as well as merger expenses associated
with the acquisitions of Alamo, Addington Resources, Inc. and Continental Waste
Industries, Inc.
H. Wayne Huizenga, Chairman and Co-Chief Executive Officer of Republic,
commented that "we are pleased with the progress we made this year, including
the quick integration of Alamo with Republic. We anticipate earnings from
operations to be in line with analysts' expectations for the fourth quarter and
full year, excluding Alamo's results and these one-time and extraordinary
charges. We are currently comfortable with analysts' expectations for full year
1997."
The company anticipates reporting its fourth quarter results at the end
of January 1997. Republic is a diversified company operating in the automotive,
solid waste, electronic security and out-of-home media industries.
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