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 April 8, 1998
----------------
(Date of earliest event reported)
FORD MOTOR COMPANY
------------------
(Exact name of registrant as specified in its charter)
Delaware
--------
(State or other jurisdiction of incorporation)
1-3950 38-0549190
------ ----------
(Commission File Number) (IRS Employer Identification No.)
The American Road, Dearborn, Michigan 48121
-------------------------------------- -----
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 313-322-3000
------------
<PAGE>
-2-
Item 5. Other Events.
- ---------------------
News release dated April 7, 1998, filed as Exhibit 20 to this Current
Report on Form 8-K, is incorporated by reference herein.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
- ---------------------------------------------------------------------------
EXHIBITS
--------
Designation Description Method of Filing
- ----------- ----------- ----------------
Exhibit 20 News release dated Filed with this Report
April 7, 1998
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 on the date indicated.
FORD MOTOR COMPANY
------------------
(Registrant)
Date: April 8, 1998 By/s/Peter Sherry, Jr.
------------------
Peter Sherry, Jr.
Assistant Secretary
<PAGE>
-3-
EXHIBIT INDEX
-------------
DESIGNATION DESCRIPTION PAGE
- ----------- ----------- ----
Exhibit 20 News release dated
April 7, 1998
<PAGE>
FORD NEWS
Global News, Public Affairs, World Headquarters, Dearborn, Michigan 48126
Telephone: (313) 322-9600; Fax: (313) 845-0570
Internet: http://media.ford.com
Contact: Jim Cain Mike Holland
Media Inquiries Securities Analysts Shareholder Inquiries
(313) 322-3428 (313) 323-8221 (800) 555-5259
FORD COMPLETES $26.8 BILLION DISTRIBUTION OF
THE ASSOCIATES STOCK AND CASH TO SHAREHOLDERS
DEARBORN, Mich., April 7, 1998 -- Ford Motor Company [NYSE: F] today completed
the spin-off of its 80.7 percent stake in Associates First Capital Corp. [NYSE:
AFS] by distributing its 279.5 million shares of The Associates to Ford common
and Class B shareholders. Ford also made a cash distribution of $3.2 billion in
lieu of The Associates stock to U.S. employee savings plan participants who own
Ford stock through the plans.
The cash distribution was made to U.S. employee savings plan participants who
owned Ford stock through the plans on March 12, the record date. Of the $3.2
billion distributed, a little more than $2 billion will be reinvested in the
Ford Stock Fund. These plan participants received a cash distribution because
The Associates stock is no longer offered as an investment option in the plans
as a result of the spin-off. The stock and cash distributions are equal on a
per-share basis.
The total value of the distributions is $26.8 billion, or $22.12 per Ford share,
based on today's average volume-weighted price of $84.3849 per share of The
Associates stock.
"The spin-off of The Associates will allow us at Ford to focus with even greater
intensity on improving our quality, cost structure and overall efficiency to
deliver great customer and shareholder value," said Ford Chairman and CEO Alex
Trotman. "The Associates, which traces its history back 80 years and is now part
of the S&P 500, is a well-managed company with an impressive track record of
profitability that has been duly recognized by investors."
<PAGE>
Ford common and Class B shareholders of record on March 12 received 0.262085
shares of The Associates for each Ford share owned. The distribution ratio
(0.262085) was calculated by dividing the number of The Associates shares owned
by Ford (279,484,849) by the number of Ford common and Class B shares
outstanding on the record date (1,066,390,822).
Detailed information will be mailed to shareholders to help them compute the
cost basis of their shares of The Associates for tax purposes.
Associates First Capital is a leading diversified finance company providing
consumer and commercial finance, leasing and related services through 2,265
offices around the world. Based in Dallas, it has managed assets of more than
$60 billion.
# # #
