SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934
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Section 240.14a-12
Proffitt's, Inc.
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(Name of Registrant as Specified in Its Charter)
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(Name of Person(s) Filing Proxy Statement)
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PROFFITT'S
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INCORPORATED Post Office Box 9386
Alcoa, TN 37701
(423) 983-7000
Fax: (423)981-6325
PROFFITT'S, INC. GRANTED. EARLY TERMINATION OF WAITING PERIOD
UNDER HART-SCOTT-RODINO ANTI-TRUST IMPROVEMENTS ACT
Contacts: Proffitt's: Julia Bentley
(423) 981-6243
Carson's: Ed Carroll (media)
(414) 347-5340
Darren Jackson
(investors)
(414) 278-5787
Birmingham, Alabama and Milwaukee, Wisconsin (December 15, 1997)--
Department store retailers Proffitt's, Inc. (NYSE:PFT)
("Proffitt's") and Carson Pirie Scott & Co. (NYSE:CRP) ("Carson's")
announced that early termination of the waiting period under the
Hart-Scott-Rodino Anti-Trust Improvements Act (the "Act") has been
granted in conjunction with the proposed merger between the two
companies. A filing was made under the Act on November 17, 1997.
Termination of the waiting period is a condition to consummation of
the merger.
The Registration Statement on Form S-4 related to the merger was
declared effective by the Securities and Exchange Consummation on
December 10, 1997.
The merger is contingent upon shareholder approval and certain
other conditions. The meetings of the shareholders of both
Proffitt's and Carson's are scheduled for January 30, 1997. The
merger is expected to be consummated on January 31, 1998, the
fiscal year end of both Proffitt's and Carson's.
Proffitt's currently operates 177 stores in twenty-four states
under the store names of Proffitt's, McRae's, Younkers, Parisian,
and Herberger's. The Company's annual revenues exceed $2.3
billion. Carson's operates 56 store locations in four Midwestern
states under the store names of Carson Pirie Scott, Boston Store,
and Bergner's. Carson's annual revenues exceed $1.1 billion.
This announcement is neither an offer to sell securities nor a
solicitation of an offer to buy securities. An offering will be
made only by means of a joint proxy statement/prospectus.
A copy of the joint proxy statement/prospectus may be obtained from
the Secretary, Proffitt's, Inc., 115 N. Calderwood Street, Alcoa,
Tennessee 37701.
