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 Event Reported: September 25, 1997
Date of Report: September 26, 1997
Boise Cascade Office Products Corporation
State of Commission IRS Employer
Incorporation File Number Identification No.
Delaware 1-13662 82-0477390
800 West Bryn Mawr Avenue
Itasca, Illinois 60143
(630) 773 - 5000
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ITEM 5. OTHER EVENTS.
On September 25, 1997, Boise Cascade Office Products
Corporation ("BOP")issued 2,250,000 shares of
unregistered common stock, all of which was purchased
by Boise Cascade Corporation ("BCC"). The transaction
was completed at a price of $21.5495 per share, for a
total of $48,486,375. The proceeds from the
transaction will be used to reduce BOP's outstanding
short-term borrowings. After the transaction, BCC owns
53,000,000 shares, or 81.3%, of BOP's outstanding
common stock.
If the shares had been issued on January 1, 1996,
unaudited pro forma net income for the year ended
December 31, 1996, would have increased to $57.1
million from $55.3 million and unaudited pro forma
earnings per share for the same period would have
decreased to $.88 from $.89. If the shares had
been issued on January 1, 1997, unaudited
pro forma net income for the six months ended June 30,
1997, would have increased to $27.5 million from $26.6
million and unaudited pro forma earnings per share
for the same period would have remained $.42.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Not applicable.
(b) Not applicable.
(c) Exhibits
The exhibits to this Report are listed in
the Exhibit Index.
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SIGNATURE
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.
BOISE CASCADE OFFICE PRODUCTS CORPORATION
/s/ Darrell R. Elfeldt
Darrell R. Elfeldt
Vice President and Controller
Date: September 26, 1997
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Exhibit Index
Exhibit No. Description Page
99 News Release Issued by BOP on
September 26, 1997
News Release
800 West Bryn Mawr Avenue
Itasca, Illinois 60143-1594
Contact:
Carla Pondel
Investor Relations
630/775-4228
FOR IMMEDIATE RELEASE: September 26, 1997
BOISE CASCADE OFFICE PRODUCTS ISSUES EQUITY
ITASCA, Illinois -- Boise Cascade Office Products
Corporation (NYSE:BOP) announced today that it issued
2,250,000 shares of unregistered common stock to Boise
Cascade Corporation (NYSE:BCC) on September 25. The shares
were priced at $21.5495 each, for total proceeds of
$48,486,375. The proceeds will be used to reduce BCOP's
short-term borrowings and for general corporate purposes.
Also, BOP has estimated that the recent UPS strike is
expected to negatively impact the company's third quarter
earnings by two to three cents per share.
Boise Cascade Office Products Corporation,
headquartered in Itasca, Illinois, is one of the world's
premier business-to-business distributors of products for the
office, with operations in Australia, Canada, France,
Germany, the United Kingdom, and the United States.