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): May 28, 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
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(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..
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On May 28, 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 second quarterly cash dividend pending
consideration of a transaction that has been proposed by the Sbarro Family to
take the Company private.
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.
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(a) Financial statements of business acquired:
Not applicable.
(b) Pro forma financial information:
Not applicable.
(c) Exhibits:
99.01: Sbarro, Inc. Press Release dated May 28, 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: May 28, 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
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99.01 Sbarro, Inc. Press Release dated May 28, 1998.
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[LOGO]
PRESS RELEASE
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CONTACT: Robert S. Koebele
Vice President, Finance
SBARRO, INC.
(516) 864-0203
SUMMARY: Board of Directors of Sbarro, Inc.
defers consideration of second
quarterly cash dividend pending
consideration of proposed
acquisition of public shares
FOR IMMEDIATE RELEASE
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Commack, L.I., New York ....................................... May 28, 1998
Sbarro, Inc. (listed New York Stock Exchange "SBA") announced that,
at a meeting held today, its Board of Directors had deferred consideration of
the Company's second quarter cash dividend pending consideration of a
transaction that has been proposed by the Sbarro Family to take the Company
private. The Board of Directors had previously deferred consideration of the
first quarter cash dividend as the proposal is conditioned upon, among other
things, the suspension of dividends by the Company.
According to Company Chairman, Mario Sbarro, all parties continue to
work diligently on the proposed transaction, which, by its nature, has required
considerable time to resolve. As is typical in matters of this type, there can
be no assurance that the proposed transaction will be successfully concluded. As
definitive information becomes available, it will be communicated to the public.
Sbarro develops and operates a national chain of family-style,
cafeteria-type Italian restaurants under the Sbarro name. At April 19, 1998
there were 871 Sbarro restaurants in operation, 628 of which were Company-owned
and 243 of which were franchised.
