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): February 11, 1998
SBARRO, INC.
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(Exact name of registrant as specified in its charter)
New York
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(State or other jurisdiction of incorporation)
1-8881 11-2501939
(Commission File Number) (IRS Employer Identification No.)
763 Larkfield Road, Commack, New York 11725
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 864-0200
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events..
On February 11, 1998, the Company issued a press release (the "Press
Release") reporting that the Company's Board of Directors had deferred
consideration of the Company's quarterly cash dividend pending consideration of
a transaction that had been proposed by the Sbarro family which would result in
the acquisition at $28.50 per share in cash of all the shares of the Company not
owned by the Sbarro family.
A copy of the Press Release is attached to this report as Exhibit
99.01.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial statements of business acquired:
Not applicable.
(b) Pro forma financial information:
Not applicable.
(c) Exhibits:
99.01: Sbarro, Inc. Press Release dated February 11, 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.
SBARRO, INC.
Date: February 17, 1998 By: /s/ Robert S. Koebele
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Robert S. Koebele,
Vice President-Finance
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EXHIBIT INDEX
Exhibit
Number Description
99.01 Sbarro, Inc. Press Release dated February 11, 1998.
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[LOGO]
PRESS RELEASE
CONTACT: Robert S. Koebele
Vice President, Finance
SBARRO, INC.
(516) 864-0203
SUMMARY: Board of Directors of
Sbarro, Inc. defers
consideration of quarterly
cash dividend pending
consideration of proposed
acquisition of public shares
FOR IMMEDIATE RELEASE
Commack, L.I., New York.......................................February 11, 1998
Sbarro, Inc. (listed New York Stock Exchange "SBA") announced today
that, at their regularly scheduled quarterly meeting held today, its Board of
Directors had deferred consideration of the Company's quarterly cash dividend
pending consideration of a transaction that has been proposed by the Sbarro
family which would result in the acquisition at $28.50 per share in cash of all
of the shares of the Company not owned by the Sbarro family. The proposal, as
previously announced, is conditioned upon, among other things, the immediate
suspension of dividends by the Company.
The Company develops and operates a national chain of family-style,
cafeteria-type Italian restaurants under the Sbarro name. At December 28, 1997
there were 862 Sbarro restaurants in operation, 623 of which were Company-owned
and 239 of which were franchised.
