SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): May 12, 1998
CHATTEM, INC.
(Exact name of registrant as specified in its charter)
Tennessee 0-5905 62-0156300
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(State of (Commission File No.) (IRS Employer
incorporation) Identification No.)
1715 West 38th Street, Chattanooga, Tennessee 37409
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(Address of principal executive offices, including zip code)
(423) 821-4571
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(Registrant's telephone number, including area code)
Item 2. Acquisition or Disposition of Assets.
On May 12, 1998, Chattem, Inc. (the "Company") and Signal Investment &
Management Co. ("Signal"), a wholly-owned subsidiary of the Company, sold the
CORN SILK oil control makeup brand to Del Laboratories, Inc. for $10.75 million,
plus inventories and the assumption of certain liabilities. The Company sold the
CORN SILK trademarks, formulae, technical information, inventory and other
related assets but will continue to operate the CORN SILK business in the United
Kingdom pursuant to a license agreement. The Company will use the net proceeds
from the sale to reduce indebtedness.
Item 7. Exhibits
2.1 Asset Purchase Agreement dated as of May 12, 1998 by
and among Del Laboratories, Inc., Signal Investment &
Management Co. and Chattem, Inc.
99.1 Press Release dated May 12, 1998.
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.
May ____, 1998 CHATTEM, INC.
By: /s/ A. Alexander Taylor III
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A. Alexander Taylor II,
President and Chief Operating Officer