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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: May 11, 1998
VIAD CORP
(Exact name of registrant as specified in its charter)
DELAWARE 001-11015 36-1169950
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
1850 N. CENTRAL AVE., PHOENIX ARIZONA 85077
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (602) 207-4000
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ITEM 5. OTHER EVENTS.
In a press release dated May 11, 1998, Viad Corp ("Viad")
announced a revised offer for the acquisition of MoneyGram
Payment Systems, Inc. ("MoneyGram"), a provider of consumer
money wire transfer services. The cash tender offer, which
commenced on April 10, 1998, through the filing of Schedule
14D-1 with the Securities and Exchange Commission for all
outstanding MoneyGram shares at a purchase price of $17 per
share, was increased to $17.35 per share. The revised
offer, which would result in a total purchase price of
approximately $306 million, including fees and expenses
related to the offer, is scheduled to expire on May 22,
1998.
A copy of the press release is attached as Exhibit 99 to
this report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99 Press Release
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
VIAD CORP
By: /s/ Richard C. Stephan
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Richard C. Stephan
Vice President - Controller
DATE: May 13, 1998
Exhibit 99
CONTACT: William H. Peltier
REVISED NEWS RELEASE 602/207-5812
[email protected]
VIAD REVISES MONEYGRAM
CASH TENDER OFFER TO $17.35 PER SHARE
EXTENDS TENDER OFFER TO MAY 22
PHOENIX, Ariz., May 11, 1998 - Viad Corp (NYSE:VVI) today announced a
revised offer to acquire MoneyGram Payment Systems, Inc. (NYSE:MNE).
Viad is now offering to purchase all outstanding MoneyGram shares for
cash at $17.35 per share. The offer, which commenced on April 10,
1998, and was scheduled to expire at 6:00 p.m., New York City time on
May 8, has been extended to 6:00 p.m., New York City time on May 22,
1998.
Viad will not further increase its offer price above $17.35. If
Viad has not received a majority of MoneyGram's shares by the extended
expiration date, the offer will be terminated. MoneyGram is intended
to be part of Viad's Travelers Express Company in Minneapolis, the
nation's largest money order company. If a majority of the shares are
tendered, Viad is prepared to promptly close this transaction based on
the regulatory approvals it has received.
At the close of business Friday, May 8, there were 4,976,441
shares tendered, representing approximately 30.1 percent.
Viad Corp is a $2.5 billion S&P MidCap 400 services company with
interests in payment services, airline catering, convention services
and travel and leisure. Headquarters are in Phoenix, Ariz.
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