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):
August 1, 1997
PACIFICORP
(Exact name of registrant as specified in its charter)
State of Oregon 1-5152 93-0246090
(State of Incorporation) (Commission (I.R.S. Employer
File No.) Identification No.)
700 N.E. Multnomah, Suite 1600, Portland, Oregon 97232-4116
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(503) 731-2000
No Change
(Former Name or Former Address, if changed since last report)
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Item 5. OTHER EVENTS
Information contained in the news release of PacifiCorp issued on August 1,
1997 is incorporated herein by reference.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibit.
99. PacifiCorp news release issued August 1, 1997.
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.
PACIFICORP
(Registrant)
By: RICHARD T. O'BRIEN
-------------------------------------
Richard T. O'Brien
Senior Vice President and
Chief Financial Officer
Date: August 4, 1997
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EXHIBIT 99
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PACIFICORP NEWS RELEASE
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Richard O'Brien, for investors, (503) 731-2123
Bill Peressini, for investors, (503) 731-2044
Angela Hult, for investors, (503) 731-2192
Dave Mead, for media, (801) 220-2445
Dave Kvamme, for media, (503) 464-6272
FOR IMMEDIATE RELEASE...BUSINESS & FINANCIAL EDITORS...August 1,
1997
PACIFICORP DISAPPOINTED WITH REFERRAL TO MMC OF
ENERGY GROUP OFFER IN THE UNITED KINGDOM
PORTLAND, Oregon -- PacifiCorp (NYSE: PPW) expressed disappointment today
that its proposed acquisition of The Energy Group (NYSE/LSE: TEG), has been
referred to the Monopolies and Merger Commission by the President of the Board
of Trade in the United Kingdom.
PacifiCorp said it would cooperate fully in the inquiry and respond
promptly to information requests by the MMC.
Margaret Beckett, who is President of the Board of Trade and Secretary of
State for Trade and Industry, set a deadline of November 21, 1997 for the MMC to
report on its investigation.
Under its terms, the offer has therefore lapsed. Shareholders representing
almost two-thirds of TEG share capital had submitted valid acceptances of their
shares before the President of the Board of Trade announced the referral today.
Another regulatory clearance is pending in the United States, under the
Hart-Scott-Rodino Antitrust Act. The U.S. Federal Trade Commission requested
time to consider additional information provided by the companies.
On June 13, PacifiCorp and TEG announced the transaction under which
PacifiCorp Acquisitions, a wholly owned subsidiary of PacifiCorp, offered to
purchase all the shares of TEG for 690 pence per ordinary share. Goldman Sachs
International made the offer to shareholders on behalf of PacifiCorp
Acquisitions on June 30.
PacifiCorp is a diversified energy company with 1.4 million retail electric
customers in the western United States and 550,000 customers in the state of
Victoria in Australia. PacifiCorp, which has more than 10,000 megawatts of
generation capacity, also is a major wholesale provider of power in the western
U.S. and recently expanded its power marketing operations nationwide in the U.S.
The Energy Group has 3 million gas and electric customers and some 7,000
megawatts of generation capacity in the U.K. and owns Peabody Coal Company, the
largest U.S. coal company.
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