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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report: July 22, 1997 Date of Event: July 8, 1997
Allied Holdings, Inc.
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(Exact name of registrant as specified in its charter)
Georgia 0-22276 58-0360550
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
160 Clairemont Avenue, Suite 510, Decatur, Georgia 30030
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(Address of principal executive offices) (Zip Code)
404/370-1100
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or former address, if changed since last report)
The Total Number of Pages in this Document is 3.
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Item 5. Other Events
Registrant released the following press release on July 8, 1997:
ALLIED HOLDINGS ACQUISITION
OF RYDER AUTOMOTIVE CARRIER SERVICES
CLEARED BY JUSTICE DEPARTMENT
DECATUR, GA., JULY 8, 1997 - ALLIED HOLDINGS, INC. (NASDAQ:HAUL) announced
today that the period for anti-trust review under the Hart-Scott Rodino Act of
its proposed acquisition of Ryder Automotive Carrier Services, Inc. and RC
Management Corp. from Ryder System, Inc. (NYSE:R) has expired without action
by federal regulatory agencies.
The Company also said that the government agencies in Canada are reviewing
the proposed acquisition with a response anticipated in August. The acquisition
is expected to be completed by the end of September and is contingent upon
finalizing a definitive purchase agreement and Canadian government regulatory
approval.
On May 27, 1997, Allied announced an agreement to acquire Ryder Automotive
Carrier Services, Inc. and RC Management Corp. for approximately $114.5 million
in cash, subject to consents, approvals, and execution of a definitive
agreement.
Ryder Automotive Carrier Services, headquartered in Troy, Michigan, has
approximately 3,400 rigs at 91 locations in 34 states and Canada. Its employees
number approximately 6,000, and its sales in 1996 were approximately $600
million. The combined revenue of Allied's and Ryder's automotive carrier
divisions for 1996 would have been approximately $1 billion.
Allied Holdings, Inc. is the parent company of several subsidiaries
engaged in the automotive distribution business. The Allied Automotive Group is
the second largest motor carrier in North America specializing in the delivery
of automobiles and light trucks. The Automotive Group transports for all major
domestic and foreign manufacturers primarily from manufacturing plants, rail
ramps, ports and auctions to automobile dealers throughout the United States
and Canada. Allied Holdings' Axis Group provides logistics solutions to the
finished vehicle, service and aftermarket parts segments of the automotive
market based on an underlying business philosophy of Move, Improve, Inform. The
Axis Group identifies new and innovative methods of distribution as well as
better use of traditional and merging technologies to help customers solve the
most complex transportation, inventory management and logistics problems.
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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 hereunto duly authorized.
ALLIED HOLDINGS, INC.
July 22, 1997 /s/ DANIEL H.POPKY
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Daniel H.Popky, Vice President, Finance
