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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 (Date of earliest event reported) July 10, 1998
CASE CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
1-13098 76-0433811
(Commission File Number) (I.R.S. Employer Identification No.)
700 State Street, Racine, Wisconsin 53404
(Address of Principal Executive Offices) (Zip Code)
(414) 636-6011
(Registrant's Telephone Number, Including Area Code)
(Former Name or Former Address, If Changed Since Last Report)
Page 1 of 7 Pages
(Exhibit Index at Page 5)
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Item 5. Other Events
The press release of registrant dated July 10, 1998, filed as Exhibit 99
hereto disclosing, among other things, that Case Corporation will accelerate the
completion of its current stock repurchase program and will begin a second
program for up to eight million shares of common stock, is incorporated herein
by reference.
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Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Exhibit
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99 Press release of registrant dated July 10, 1998.
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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.
CASE CORPORATION
By: /s/ Kevin J. Hallagan
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Kevin J. Hallagan
Associate General Counsel and
Assistant Secretary
July 14, 1998
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EXHIBIT INDEX
Exhibit No. Description Page
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99 Press release dated July 10, 1998, of Case Corporation. 6
5
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EXHIBIT 99
CASE News Release
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CASE CORPORATION 700 STATE STREET RACINE, WI 53404 U.S.A.
HTTP://WWW.CASECORP.COM
For more information, contact:
William B. Masterson (414) 636-5793
CASE ACCELERATES COMPLETION OF CURRENT STOCK
REPURCHASE PROGRAM; TO BEGIN SECOND PROGRAM
FOR UP TO EIGHT MILLION SHARES
New Program Represents Approximately 11 Percent of Common Shares Outstanding
Racine, Wisconsin (July 10, 1998) -- Case Corporation (NYSE:CSE) said today
that it intends to substantially complete its current stock buyback program
during the third quarter of 1998 and that the company's board of directors has
authorized a second program for up to 8 million shares, double the current
buyback program. The current program covers authorization of up to 4 million
shares of common stock and began approximately one year ago. The additional 8
million shares specified in the new authorization will be purchased from time to
time, depending upon financial and market conditions.
"We are very focused on creating shareholder value through the execution of
our operating strategy," said Jean-Pierre Rosso, Case chairman and chief
executive officer. "The acceleration of our current share repurchase program and
implementation of a new program that is double in size reflects the company's
confidence in its ability to deliver superior financial results over time."
The new repurchase program of up to 8 million shares reflects approximately
11 percent of the company's 74 million common shares outstanding.
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Case Corporation is a leading worldwide designer, manufacturer and
distributor of agricultural and construction equipment, and offers a broad array
of financial products and services, including equipment loans, leasing and
insurance. Headquartered in Racine, Wisconsin, Case had 1997 revenues of $6
billion and sells its products in 150 countries through a network of
approximately 4,900 independent dealers.
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