SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 28,1996
Donnelly Corporation
(Exact name of Registrant as specified in its charter)
Michigan I-9716 38-0493110
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
414 East Fortieth Street, Holland, Michigan 49423
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (616) 786-7000
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Item 2. Acquisition or Disposition of Assets
On October 14, 1996, the Registrant provided notice committing to
the acquisition of an additional 13 percent of the general partner in Donnelly
Hohe GmbH & Co. KG ("Hohe") by the end of October 1996. Previously the
Registrant had acquired 66 2/3 percent of the limited partnership interests in
Hohe and 48 percent of the general partner from the Hohe family. The
Registrant, therefore, now directly controls Hohe and Hohe's financial
statements will be consolidated with those of the Registrant. The terms of the
acquisition were arrived at as a result of arm's length negotiations between
the management of the Registrant and the individual holder of the general
partner interest. The Registrant will pay approximately $20,000 for this
additional interest in the general partner of Hohe.
The Registrant continues to have options to increase its ownership
to 80 percent of the limited partnership interest and 100 percent of the
general partner, exercisable at any time. The Registrant also has an option
to buy the remainder of the limited partnership interest, exercisable after
March 1998 pursuant to a formula price. Finally, the owners of the remaining
limited partnership interest have an option to require the Registrant to buy
their limited partnership interest at any time based upon the same formula.
An English language summary of the Acquisition Agreement and related documents
was filed by the Company in form 8-K dated May 29, 1995.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(a) Financial Statements of Business Acquired
Audited financial statements for Hohe (the business acquired)
for its fiscal year ended March 31, 1995 were previously filed by the Company
under Form 8-K dated May 29, 1995 and are herein incorporated by reference.
At the time of this report, it is not practicable to provide audited financial
statements for Hohe (the business acquired) for its fiscal year ended March
31, 1996, and two month period ended May 31, 1996, which are also required
financial statements for this report. Such statements will be filed under
cover of Form 8 as soon as practicable and not later than November 30, 1996.
(b) Pro Forma Financial Information
At this time of this report, it is not practicable to provide
pro forma financial statements. Such statements will be filed under cover of
Form 8 as soon as practicable and not later than November 30, 1996.
(c) Exhibits
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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.
Date: October 28, 1996
DONNELLY CORPORATION
(Registrant)
/S/ William R. Jellison
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William R. Jellison
Vice President of Financial Operations
