Csk Auto Corp - Current report filing (8-K)
February 05 2008 - 6:01AM
Edgar (US Regulatory)
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): February 1, 2008
CSK AUTO CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware
(State or other jurisdiction of
Incorporation or organization)
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001-13927
(Commission File Number)
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86-0765798
(I.R.S. Employer
Identification No.)
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645 E. Missouri Ave., Suite 400, Phoenix, Arizona
(Address of principal executive offices)
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85012
(Zip Code)
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Registrants telephone number, including area code:
(626) 683-4000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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TABLE OF CONTENTS
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Items 1.01 and 3.03.
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Entry into a Material Definitive Agreement; Material Modification to Rights of Security Holders.
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On February 4, 2008, CSK Auto Corporation (the Company) issued a press release announcing it
had adopted a stockholder rights plan (the Rights Plan) and entered into a Rights Agreement on
the same date with Mellon Investor Services LLC, as Rights Agent. The Rights Plan was adopted in
order to maintain the integrity of the strategic review process that the Companys Board of
Directors is conducting.
One Right will be issued for each share of the Company common stock outstanding as of
February 14, 2008. The Rights will not become exercisable, and separate certificates evidencing
the Rights will not be issued, unless the Rights are triggered. The Rights would be triggered by,
among other things, a person or group acquiring or announcing an intention to acquire 10% or more
of the Companys common stock, or upon the consummation of a transaction in which the Company is
not the surviving entity, the outstanding shares of the Companys common stock are exchanged for
stock or assets of another person, or 50% or more of the Companys consolidated assets or earning
power are sold. If a party exceeds the ownership thresholds and the Rights are not redeemed, each
Right will entitle the holder, other than the triggering party, to purchase a number of shares of
the Companys common stock having a value of twice the $45 exercise price. Such an exercise would
dilute the triggering partys holdings in the Company.
The Rights will expire on February 3, 2009, unless the Rights Plan is extended by the
Companys stockholders, in which case, the Rights will expire on February 4, 2011 (unless earlier
redeemed or exchanged). Subject to certain exceptions, the Rights are redeemable by action of the
Companys Board of Directors at a nominal price per Right.
The Company has filed a Registration Statement on Form 8-A (the Form 8-A) with the U.S.
Securities and Exchange Commission (the SEC) that contains additional information regarding the
terms and conditions of the Rights Plan and the Rights. A copy of the Rights Agreement has been
filed with the SEC as Exhibit 1 to the Form 8-A and is incorporated herein by reference. A copy of
the press release is attached hereto as Exhibit 99.2. The foregoing summary description of the
Rights Plan and the Rights does not purport to be complete and is qualified in its entirety by
reference to the Rights Agreement, which is incorporated herein by reference.
On February 1, 2008, the Company issued a press release confirming that it has received an
unsolicited proposal from OReilly Automotive, Inc. to acquire all of the outstanding shares of the
Company. The press release is attached as Exhibit 99.1 to this Form 8-K.
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Item 9.01.
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Financial Statement and Exhibits.
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The following exhibits are filed as part of this report.
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Exhibit
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Description
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4.1
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Rights Agreement dated as of February 4, 2008 by and between CSK Auto Corporation and Mellon
Investor Services LLC, as Rights Agent, filed as Exhibit 1 to the Registration Statement on
Form 8-A of CSK Auto Corporation and incorporated herein by reference.
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99.1
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Press Release dated February 1, 2008.
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99.2
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Press Release dated February 4, 2008.
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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, thereunto duly authorized.
Dated: February 4, 2008
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CSK AUTO CORPORATION
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By:
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/s/ Randi Val Morrison
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Name:
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Randi Val Morrison
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Title:
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Senior Vice President, General Counsel and
Secretary
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