-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UeYIdNVKiuT0ZN1jv2HU8I5T0z/+LRSjfZWUPmBGyAEJ9OVxLoTlRgJnNE2x9Dqy 9fWXo9ObAm7Zv8k7nuNoCg== 0000899140-98-000510.txt : 19981119 0000899140-98-000510.hdr.sgml : 19981119 ACCESSION NUMBER: 0000899140-98-000510 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981116 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WESTERN BEEF INC /DE/ CENTRAL INDEX KEY: 0000081942 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 133266114 STATE OF INCORPORATION: DE FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-04485 FILM NUMBER: 98754740 BUSINESS ADDRESS: STREET 1: 47 05 METROPOLITAN AVE CITY: RIDGEWOOD STATE: NY ZIP: 11385 BUSINESS PHONE: 7188210011 FORMER COMPANY: FORMER CONFORMED NAME: QUAREX INDUSTRIES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: RANCHERS PACKING CORP DATE OF NAME CHANGE: 19830713 8-K 1 REPORT ON FORM 8-K 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): November 16, 1998 WESTERN BEEF, INC. (Exact name of registrant as specified in its charter) Delaware 0-4485 13-3266114 (State or other (Commission File (IRS Employer jurisdiction of Number) Identification No.) incorporation) 47-05 Metropolitan Avenue, Ridgewood, New York 11385 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (718) 417-3770 Not Applicable (Former name or former address, if changed from last report) Item 5. Other Events On November 16, 1998, Western Beef, Inc. (the "Company") received an unsolicited proposal from Cactus Acquisition, Inc. ("Cactus") to acquire all of the outstanding capital stock of the Company not currently owned by Cactus and its affiliates for a price of $7.50 per share in cash. In response, the Company's Board of Directors appointed a Special Committee of the Board of Directors to determine the advisability and fairness of the Cactus proposal to the Company's stockholders other than Cactus and its affiliates. The press release announcing the Company's receipt of the Cactus proposal and the appointment of the Special Committee is attached hereto as Exhibit 99.1 and is incorporated by reference herein. Item 7. Financial Statements and Exhibits (a) Financial Statements of businesses acquired: None. (b) Pro Forma financial information: None. (c) Exhibits: 99.1 Press Release of Western Beef, Inc. dated November 16, 1998. 2 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. WESTERN BEEF, INC. BY: /s/ Peter Castellana, Jr. ___________________________________ Name: Peter Castellana, Jr. Title: President November 18, 1998 3 EXHIBIT INDEX Exhibit - ------- 99.1 Press Release of Western Beef, Inc. dated November 16, 1998. EXHIBIT 99.1 EX-99.1 2 PRESS RELEASE DATED NOVEMBER 16, 1998 WESTERN BEEF, INC. FORMS SPECIAL COMMITTEE IN RESPONSE TO UNSOLICITED OFFER FROM CACTUS ACQUISITION, INC. Queens, NY (November 16, 1998) - Western Beef, Inc. (NASDAQ: BEEF) announced today that it had received an unsolicited proposal from Cactus Acquisition, Inc. to acquire all of the outstanding shares of common stock of Western Beef not currently owned by Cactus and its affiliates for a cash price of $7.50 per share. The Cactus offer is subject to a number of conditions, including negotiation of definitive documents, the filing of a disclosure statement and other documents with the Securities and Exchange Commission and approval of the merger by a majority of the issued and outstanding common stock. Cactus and its affiliates currently own approximately 3,982,000 shares of Western Beef common stock, or approximately 72% of the outstanding common stock. In response to the Cactus offer, Western Beef's Board of Directors has appointed a Special Committee of the Board to determine the advisability and fairness of that offer to Western Beef's stockholders other than Cactus and its affiliates. The Special Committee will retain independent investment banking advisers and legal counsel to advise it on the fairness of the offer from a financial point of view to the stockholders of Western Beef other than Cactus and its affiliates. It is expected that the Special Committee will make a recommendation regarding the offer to the Board of Directors within the next few weeks. Based in New York City, Western Beef operates 21 high volume retail supermarkets and two Junior's Food Outlets located primarily in urban lower income and ethnic neighborhoods and is one of New York's largest meat and poultry distributors. -----END PRIVACY-ENHANCED MESSAGE-----