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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): September 7, 1995
KIMBERLY-CLARK CORPORATION
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
DELAWARE 1-225 39-0394230
(State or other (Commission (IRS Employer
jurisdiction of incorporation) File Number) Identification No.)
P.O. BOX 619100, DALLAS, TEXAS 75261-9100
(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code: (214) 281-1200
N/A
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On September 7, 1995, Midwest Express Holdings, Inc., a Delaware
corporation ("MEH"), filed with the Securities and Exchange Commission an
amendment to MEH's Registration Statement on Form S-1 whereby an indirect wholly
owned subsidiary of Kimberly-Clark Corporation, a Delaware corporation
("Kimberly-Clark"), proposes to sell to certain underwriters common stock of MEH
in an initial public offering. Kimberly-Clark will indirectly own 100% of MEH's
outstanding common stock immediately prior to consummation of the offering. Upon
consummation of the offering, Kimberly-Clark will continue to own indirectly
approximately 30% of the outstanding common stock of MEH or, if the underwriters
exercise their over-allotment option in full, approximately 20% of the
outstanding common stock of MEH.
It is currently estimated that the initial public offering price per share
of common stock of MEH will be between $14.00 and $16.00. At an assumed initial
public offering price of $15.00 per share, after deduction of underwriting
discounts and commissions and estimated income taxes, the aggregate realized
gain to Kimberly-Clark as a result of the offering will be approximately $29
million (assuming no exercise of the underwriters' over-allotment option and
exclusive of an anticipated dividend from MEH to the selling stockholder prior
to consummation of the offering that would have been approximately $25.6 million
as of June 30, 1995). Assuming 30% continued ownership following the offering,
Kimberly-Clark's aggregate unrealized gain (after deduction of estimated income
taxes) would be approximately $12 million.
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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 hereunto duly authorized.
KIMBERLY-CLARK CORPORATION
Date: September 7, 1995 By: /s/ RANDY J. VEST
Randy J. Vest
Vice President and Controller
