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 6, 1998
INLAND STEEL INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-9117 36-3425828
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
30 West Monroe Street
Chicago, Illinois 60603
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including are code: (312) 346-0300
Not Applicable
(Former name or former address, if changed since last report)
1
<PAGE>
Item 5. Other Events.
The Press Release dated August 6, 1998 attached hereto as
Exhibit 99.1 is incorporated herein by reference in answer to this Item 5.
2
<PAGE>
SIGNATURES
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.
Dated: August 7, 1998 INLAND STEEL INDUSTRIES, INC.
By: /s/ Jay M. Gratz
Jay M. Gratz
Vice President and
Chief Financial Officer
3
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
- ------- -----------
99.1 Press Release dated August 6, 1998
4
Exhibit 99.1
Inland Steel Industries, Inc.
30 West Monroe St.
Chicago, Illinois 60603
Inland Steel Industries, Inc. News Release
- ----------------------------------------------------------------------------
For additional information: Virginia Dowling
312-899-3124
For Immediate Release
- ---------------------
Inland Steel Industries, Inc. reports shareholder suit
Chicago, IL (August 6, 1998) - Inland Steel Industries, Inc (NYSE:
IAD) has been informed that Greenway Partners, L.P. and related parties
have filed a complaint in the Delaware Chancery Court seeking to enjoin the
Company from consummating its cash tender to purchase up to 25,500,000
shares of its common stock at a purchase price of not greater than $34.00
nor less than $30.00 per share. The offer is scheduled to expire on August 14,
1998, unless extended.
The complaint alleges that given Greenway Partners' current 9.7% stock
ownership, the size of the tender offer and the terms of Inland's
Shareholder Rights Plan coerce Greenway into tendering its shares for
reasons other than the merits of the tender offer. The Company is reviewing
the complaint.
# # #
Inland Steel Industries, Inc. is the holder of stock representing
approximately 87% of the economic interest in Ryerson Tull, Inc. which is,
in turn, the sole stockholder of Joseph T. Ryerson & Son, Inc. ("Ryerson")
and J. M. Tull Metals Company, Inc. ("Tull"). Ryerson and Tull are leading
metal service, distribution and materials processing organizations. Ryerson
Tull, Inc. believes that it is the largest metals service center in the
United States based on sales revenue, with 1997 sales of $2.8 billion and a
current U. S. market share of approximately 10%, based on Ryerson Tull,
Inc.'s analysis of data prepared by the Steel Service Center Institute.
Ryerson Tull, Inc. distributes and processes metals and other materials
throughout the continental United States.
