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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): March 14, 1996
TBC Corporation
(Exact name of registrant as specified in its charter)
Delaware 0-11579 31-0600670
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
4770 Hickory Hill Road, Memphis, Tennessee 38141
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (901) 363-8030
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On March 14, 1996, TBC Corporation ("TBC") issued the following
press release:
March 14, 1996
Ronald E. McCollough
Senior Vice President
TBC Corporation
John E. Siipola
Chairman
Big O Tires, Inc.
(303) 790-2800
TBC ANNOUNCES LETTER OF INTENT TO ACQUIRE BIG O TIRES
MEMPHIS, Tennessee (March 14, 1996) - TBC Corporation (Nasdaq/NM:TBCC) and
Big O Tires, Inc. (Nasdaq/NM:BIGO) jointly announced today that a letter
of intent has been signed relating to TBC's proposed acquisition of all of
the outstanding shares of Big O. Under the terms of the letter of intent,
Big O stockholders would receive a cash price of $16.50 a share, subject
to possible reductions based on a final tabulation of transaction costs
and other expenses which Big O does not believe will result in a material
adjustment, if any. The transaction remains subject to the approval by
the Board of Directors of each company of a definitive merger agreement,
which is expected to be presented to each Board within 30 days. A
definitive merger agreement would then be subject to the approval of the
stockholders of Big O.
In a separate action, Big O has terminated the existing merger agreement
dated July 24, 1995 with the companies formed by a Dealer/Management
Group.
TBC Corporation is a marketer and distributor of products for the
automotive replacement market.
Big O Tires, Inc. is a franchisor of independent retail tire and auto
service stores.
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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.
TBC CORPORATION
(Registrant)
March 20, 1996 By:/s/Ronald E. McCollough
(Date) Ronald E. McCollough,
Senior Vice President Operations
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