Devry Education Group Inc. – ‘8-K’ for 6/19/96

As of:  Wednesday, 7/3/96   ·   For:  6/19/96   ·   Accession #:  730464-96-6   ·   File #:  1-13988

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         8-K Text                                               6     13K 
 2: EX-2        Purchase Agreements                                   54    188K 
 3: EX-99       Press Release                                          2      6K 

8-K   —   8-K Text
Document Table of Contents

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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):  June 19, 1996      

DeVRY INC.    
(Exact name of registrant as specified in its charter)      

 DELAWARE                      0-12751                    36-3150143
(State or other jurisdiction   (Commission File Number)    (I.R.S. Employer     
of incorporation)                                          Identification No.)  

One Tower Lane                                              
Oakbrook Terrace, Illinois                   60181                        
(Address of principal executive offices)      (Zip Code)                        

(708) 571-7700  
(Registrant's telephone number, including area code)    

Exhibit Index located on Page 6                Total Number of Pages is 63      

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DEVRY INC.  

FORM 8-K INDEX  

                                                      Page No.
                                                      --------
ITEM 2.  Acquisition of Assets                                                  

Description of acquisition of substantially all of                    
the assets of the Becker CPA Review Business.            3  

ITEM 7. Financial Statements and Exhibits                                       

Financial Statements Index                                    4       

SIGNATURES                                                         5            

EXHIBIT INDEX                                                      6            

EXHIBITS                                                        7 - 63          

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ITEM 2 - ACQUISITION OF ASSETS                                                  
------------------------------                                                  
On June 19, 1996, the Company acquired the Becker CPA Review business for       
cash.  The purchase price of $18,421,000 for substantially all of the tangible  
operating assets and trademarks related to the business is subject to final     
adjustment upon completion of the financial audit for their fiscal 1996 and     
the determination of the Book Value Adjustment as specified in the purchase     
agreement.  These assets were acquired from Newton D. Becker, the Newton D. and 
Rochelle F. Becker Foundation, and other individuals.  The assets were acquired 
by Becker CPA Review, Inc., which is a wholly owned newly formed subsidiary     
of DeVry Inc.  Also purchased were certain copyrights, other intellectual       
property and publicity rights for a price of $17,935,000.  These assets were    
acquired from Newton D. Becker and the Newton D. and Rochelle F. Becker         
Foundation by the Becker/DeVry Educational Development Corp., which is a        
wholly owned newly formed subsidiary of DeVry Inc.  Funding for the purchases   
was obtained under the Company's recently amended revolving credit line from a  
group of banks.                                                                 

The description of the purchase contained herein is qualified in its entirety by
reference to the Agreement Regarding Purchase of Partnership Interests and the  
Intellectual Property Purchase Agreement which are attached hereto as Exhibit 2 
and incorporated herein by reference.                                           

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ITEM 7  - FINANCIAL STATEMENTS AND EXHIBITS                                     
-------------------------------------------                                     
The following documents are filed as part of this report:                       

(a)  Financial Statements of Business Acquired                        

The required audited financial statements for the Becker CPA Review   
   Business are not yet available.  These financial statements will be filed
  with the Securities and Exchange Commission (SEC) as soon as practicable
on an amended Form 8-K as required.                                   

(b)  Pro Forma Financial Information                                  

    The required pro forma combined financial statements are not yet available
  These pro forma combined financial statements will be filed with the SEC
as soon as practicable on an amended Form 8-K as required.            

(c)  Exhibits                                                         

A complete listing of required exhibits is included on page 6 of this 
    report.  The schedules and other attachments to the required exhibits have
been omitted from this filing.                                        

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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.                                          

DATE:  July 2, 1996      /s/Ronald L. Taylor                                    
Ronald L. Taylor              
       President and Chief Operating Officer

DATE:  July 2, 1996      /s/Norman M. Levine                                    
Norman M. Levine              
     Vice President Finance, Controller,
        Chief Financial and Accounting Officer

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EXHIBIT  INDEX    

                                                Sequentially
                                                Numbered
Exhibit #               Item                                  Page              
---------             ---------------------------         ------------          

2                 Plan of Acquisition                                   
Agreement Regarding Purchase  
               of Partnership Interests           7 - 47

Intellectual Property Purchase
               Agreement                         48 - 53

             Guarantee                           54 - 61

99                 Press Release                          62 - 63         

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		7/3/96							None on these Dates
		7/2/96		5
For Period End:		6/19/96		1		3
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