SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8K
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 19, 2000
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The Liberty Corporation
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(Exact name of Registrant as Specified in Charter)
South Carolina 1-5846 57-0507055
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
2000 Wade Hampton Boulevard, Greenville, SC 29602
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (864) 609-8256
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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 19, 2000, The Liberty Corporation ("Liberty") entered into a
Purchase Agreement (the "Purchase Agreement") with Royal Bank of Canada
("RBC"), a Canadian-chartered bank, pursuant to which RBC will acquire from
Liberty (the "Acquisition") all of the issued and outstanding shares of capital
stock of Liberty Life Insurance Company, Liberty Insurance Services
Corporation, The Liberty Marketing Corporation, LC Insurance Limited and
Liberty Capital Advisors, Inc., for a total of $648,700,000 million, consisting
of a dividend from Liberty Life Insurance Company of up to $70,000,000 and the
balance in cash from Royal Bank of Canada.
In connection with the Purchase Agreement, certain stockholders of
Liberty, representing in the aggregate approximately 19% of the outstanding
Liberty shares, executed voting agreements with RBC pursuant to which such
stockholders agreed to vote certain of their Liberty shares in favor of the
Acquisition.
The consummation of the Acquisition is subject to customary closing
conditions, including regulatory approvals and the approval of the stockholders
of Liberty.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibits Description
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2.1 Purchase Agreement, dated as of June 19, 2000, between The
Liberty Corporation and Royal Bank of Canada
9.1 Voting Agreement, dated as of June 30, 2000, entered into by
W. Hayne Hipp and Royal Bank of Canada
9.2 Form of Voting Agreement, dated as of June 30, 2000, entered
into by certain shareholders of the Liberty Corporation and
Royal Bank of Canada
99.1 Press Release, dated as of June 19, 2000, of The Liberty
Corporation
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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 thereunto duly authorized.
THE LIBERTY CORPORATION
By: /s/ Martha Williams
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Name: Martha Williams
Title: Vice President, General Counsel
and Secretary
June 30, 2000
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EXHIBIT INDEX
Exhibits Description
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2.1 Purchase Agreement, dated as of June 19,
2000, between The Liberty Corporation and
Royal Bank of Canada
9.1 Voting Agreement, dated as of June 30,
2000, entered into by W. Hayne Hipp and
Royal Bank of Canada
9.2 Form of Voting Agreement, dated as
of June 30, 2000, entered into by
certain shareholders of the Liberty
Corporation and Royal Bank of
Canada
99.1 Press Release, dated as of June 19, 2000,
of The Liberty Corporation
