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RUSHA > SEC Filings for RUSHA > Form 8-K on 26-Sep-2013All Recent SEC Filings

Show all filings for RUSH ENTERPRISES INC \TX\

Form 8-K for RUSH ENTERPRISES INC \TX\


26-Sep-2013

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events.

On September 23, 2013, certain subsidiaries of Rush Enterprises, Inc. (the "Company") entered into agreements to purchase certain assets of CIT, Inc., which does business as Chicago International Trucks, Mcgrenho L.L.C., which does business as Indy Truck Sales, and Indiana Mack Leasing, LLC; and the membership interests of Idealease of Chicago, LLC. The acquisition includes International commercial truck dealerships and Idealease commercial vehicle rental and leasing businesses in Carol Stream, Chicago, Grayslake, Huntley, Joliet, Kankakee and Ottawa, Illinois, and Brazil, Gary and Indianapolis, Indiana, which, collectively, had unaudited revenues of approximately $405 million in 2012.

The Company anticipates that the purchase price for the assets will be paid in cash and partially financed under the Company's commercial vehicle borrowing and accounts receivable financing arrangements. The proposed acquisition is expected to close, subject to customary closing conditions, in the first quarter of 2014.

On September 26, 2013, the Company issued a press release announcing entry into the purchase agreements, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K.

Forward-Looking Statements

Certain statements contained in this Current Report on Form 8-K, including those concerning the proposed acquisition of certain assets of the dealership groups in Illinois and Indiana and the Company's intention to finance a portion of the purchase price are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, whether the proposed acquisition is ultimately consummated, competitive factors, general U.S. economic conditions, economic conditions in the new and used commercial vehicle markets, customer relations, relationships with vendors, product introductions and acceptance, changes in industry practices, one-time events and other factors described herein and in filings made by the Company with the Securities and Exchange Commission.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Rush Enterprises, Inc. Press Release dated September 26, 2013


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