FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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 6, 1995
GIBSON GREETINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-11902 52-1242761
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
2100 Section Road, Cincinnati, Ohio 45237
(Address of principal executive offices)
Registrant's telephone number, including area code:(513)841-6600
INFORMATION TO BE INCLUDED IN THE REPORT
Items 1, 2, 3, 4, 6 and 8 are not applicable and are omitted from
this report.
Item 5. Other Events
The press release of Gibson Greetings, Inc. (the
"Company"), dated July 6, 1995, announcing that the Company's
Board of Directors has authorized exploration of the sale of the
Company, is filed as an exhibit to and incorporated by reference
in this Current Report on Form 8-K.
Additionally, two directors of the Company recently
have resigned. Roger T. Staubach resigned in mid-June 1995
because of the continually increasing time demands of his own
business. Thomas M. Cooney resigned June 30 because of his
disagreement with the Board of Directors' decision to explore the
sale of the Company.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(a) Financial Statements of Business Acquired.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits
Number Description
99 Press Release dated July 6, 1995
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.
Date: July 6, 1995 GIBSON GREETINGS, INC.
By /s/ W. L. Flaherty
W. L. Flaherty
Vice President - Finance
Exhibit 99
NEWS RELEASE
CONTACT: W. L. Flaherty
Vice President - Finance
(513) 841-6675
FOR IMMEDIATE RELEASE
Karen Durand
Director - Investor Relations
(513) 841-6986
GIBSON BOARD AUTHORIZES EXPLORATION OF SALE OF COMPANY
CINCINNATI, OHIO, July 6, 1995 -- Gibson Greetings, Inc. (NASDAQ:
GIBG) Gibson Greetings, Inc. Chairman and Chief Executive Officer
Benjamin J. Sottile, announced today that the Company has received
preliminary expressions of interest in the acquisition of the
Company and that the Gibson Board of Directors has authorized
management to responsibly explore these and other possible
expressions of interest.
"Accordingly, we will be appointing investment banking firms to
work with our senior management in evaluating and analyzing
responsible expressions of interest and proposals for delivering
value to our shareholders," Mr. Sottile said.
"Of course," he added, "there is no assurance that any
transaction will occur. However, our management and Board of
Directors have always been committed to serving the best
interests of the company and all of its shareholders. Thus, even
as our strategic business program is making sound progress, if we
can further strengthen the Company while delivering enhanced
value to all of our shareholders through a sale to a serious and
strong entity, we should and will explore that alternative."
Mr. Sottile also noted that the previously disclosed
identification of prospective purchasers for the Company's Cleo,
Inc. subsidiary would continue.
Gibson Greetings, Inc. is the world's second largest publicly
owned manufacturer and distributor of everyday and seasonal
greeting cards, gift wrap and related social expression products.