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):
November 2, 1998
CHECKERS DRIVE-IN RESTAURANTS, INC.
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(Exact Name of Registrant as specified in Charter)
DELAWARE 0-19649 58-1654960
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
14255 49TH STREET NORTH, BUILDING I, CLEARWATER, FLORIDA 33762
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(Address of principal executive offices) (Zip Code)
(727) 519-2000
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(Registrant's telephone number, including area code)
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On November 2, 1998, GIANT GROUP, LTD., Rally's Hamburgers, Inc. and
Checkers Drive-In Restaurants, Inc. announced the termination of their proposed
merger. A copy of the press release announcing the termination of the
transaction is attached hereto as Exhibit 99.1 and incorporated by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) & (b) Not applicable.
(c) Exhibits.
Exhibit 99.1 Press Release, dated November 2, 1998.
<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 hereunto duly authorized.
CHECKERS DRIVE-IN RESTAURANTS, INC.
NOVEMBER 3, 1998 By: /s/ JAMES T. HOLDER
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(Date) James T. Holder
Senior Vice President, General
Counsel & Secretary
GIANT GROUP, LTD.
RALLY'S HAMBURGERS, INC.
AND CHECKERS DRIVE-IN RESTAURANTS, INC.
TERMINATE PROPOSED MERGER
FOR IMMEDIATE RELEASE
NOVEMBER 2, 1998
GIANT GROUP, LTD. (NYSE:GPO), RALLY'S HAMBURGERS, INC. (NASDAQ:RLLY),
AND CHECKERS DRIVE-IN RESTAURANTS, INC. (NASDAQ:CHKR) announced today the
termination by GIANT GROUP, LTD. of their proposed merger. The merger was
terminated when the definitive merger agreement could not be finalized within
the allowed time period. GIANT owns approximately 11% of Rally's stock and
Rally's owns approximately 26% of Checkers stock.
A spokesman for GIANT said that despite the termination of the
transaction, GIANT remains enthusiastic about the progress made by the
management of Rally's and Checkers.
Jay Gillespie, CEO of Checkers and Rally's stated that "we will
continue to move forward on our strategic initiatives, which are designed to
increase sales and improve margins".
Additional Information;
Burt Sugarman, CEO of GIANT at (310) 273-5678
Jay Gillespie, CEO of Rally's and Checkers at (727) 519-2000
