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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________
SCHEDULE 14D-1
(AMENDMENT NO. 13)
AND
SCHEDULE 13D
(AMENDMENT NO. 14)
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(D)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
____________________
WLR FOODS, INC.
(Name of Subject Company)
____________________
WLR ACQUISITION CORP.
(Bidder)
____________________
Common Stock, no par value
(Title of Class of Securities)
____________________
929286 10 2
(CUSIP Number of Class of Securities)
____________________
James B. Blair
Tyson Foods, Inc.
2210 West Oaklawn Drive
Springdale, Arkansas 72762-6999
Telephone Number (501) 290-4000
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications on Behalf of Bidders)
Copies to:
Leslie A. Grandis, Esq. Lawrence Lederman, Esq.
McGuire, Woods, Battle & Boothe Michael W. Goroff, Esq.
One James Center Milbank, Tweed, Hadley & McCloy
901 East Cary Street 1 Chase Manhattan Plaza
Richmond, Virginia 23219 New York, New York 10005
Telephone: (804) 775-4322 Telephone: (212) 530-5000
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CUSIP No. 929286 10 2 14D-1
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
TYSON FOODS, INC.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (A) / /
(B) /x/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC, BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
600,063 COMMON SHARES
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) / /
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9 % OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
5.37%
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10 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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CUSIP No. 929286 10 2 14D-1
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
WLR ACQUISITION CORP.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (A) / /
(B) /X/
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3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
600,000 COMMON SHARES
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) / /
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9 % OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
5.37%
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10 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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CUSIP No. 929286 10 2 14D-1
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
TYSON LIMITED PARTNERSHIP
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (A) / /
(B) /X/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
600,063 COMMON SHARES
- -------------------------------------------------------------------------------
8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) / /
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9 % OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
5.37%
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10 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
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CUSIP No. 929286 10 2 14D-1
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
MR. DON TYSON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (A) / /
(B) /X/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
600,063 COMMON SHARES
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) / /
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9 % OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
5.37%
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10 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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This Statement constitutes Amendment No. 13 to the Statement on
Schedule 14D-1, dated March 9, 1994, as amended, filed by WLR Acquisition
Corp., a Delaware corporation (the "Purchaser"), and a wholly-owned subsidiary
of Tyson Foods, Inc., a Delaware corporation ("Tyson"), and Tyson, relating to
the offer by the Purchaser to purchase all outstanding shares of Common Stock,
no par value (the "Shares"), of WLR Foods, Inc., a Virginia corporation (the
"Company"), at a price of $30.00 per share, net to the seller in cash, upon the
terms and subject to the conditions set forth in the Offer to Purchase, dated
March 9, 1994 (the "Offer to Purchase") and in the related Letter of
Transmittal.
This Statement also constitutes Amendment No. 14 to the Statement on
Schedule 13D, dated March 4, 1994, as amended, filed by the Purchaser, Tyson,
Tyson Limited Partnership and Mr. Don Tyson, relating to their beneficial
ownership of Shares.
1. Item 11 is hereby amended to add the following:
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
(a) 99.34 -- Letter to Shareholders of WLR Foods, Inc.
from Tyson Foods, Inc., dated May 17, 1994.
6
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SIGNATURE
After due inquiry and to the best of their knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
WLR ACQUISITION CORP.
By /s/ James B. Blair
--------------------------------
Name: James B. Blair
Title: President
Dated: May 17, 1994
TYSON FOODS, INC.
By /s/ Gerald Johnston
--------------------------------
Name: Gerald Johnston
Title: Executive Vice President,
Finance
Dated: May 17, 1994
7
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EXHIBIT INDEX
Exhibit Page No.
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99.34 Letter to Shareholders of WLR Foods, Inc.
from Tyson Foods, Inc., dated May 17, 1994.
8
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[Letterhead]
May 17, 1994
Dear WLR Shareholder:
On the eve of the election to decide whether Tyson gets to vote its WLR
shares just like all other shareholders, consider carefully WLR's May 12th
letter.
Hidden within management's "thanks for being loyal" rhetoric is disclosure
of a new plan to borrow money and buy back WLR shares if our proposal is turned
down and we terminate our offer. This leveraged buyback plan would effectively
shrink WLR and its business, thereby diminishing opportunities for its
shareholders, employees and growers.
We certainly understand that WLR management is feeling pressure from
shareholders based on the glaring probability that WLR shares will not trade
anywhere near the $30 level if Tyson's offer is terminated. The buyback plan
might temporarily prop up WLR's share price -- BUT AT WHAT COST?
-HOW COULD WLR AFFORD TO BUY OUT ALL THE INVESTORS WHO WILL UNDOUBTEDLY
WANT TO SELL IF THEY SEE NO HOPE OF A DEAL WITH TYSON?
-How much would WLR management have to borrow and spend in order to
have any meaningful impact on stock price? FIFTY MILLION DOLLARS?
SEVENTY-FIVE MILLION DOLLARS? ONE HUNDRED MILLION DOLLARS?
-WHAT PRICE WOULD THEY PAY? $30, $25, $20, $17 1/2?
-Who would most likely bail out? The short term investors. The loyal
shareholders and producers who are currently hoping for a cash bid or a
tax free deal at $30 or higher will be thanked for their loyalty and
offered little else. CLEARLY THOSE OF YOU WHO HAVE BEEN MOST LOYAL MAY
END UP SUFFERING THE MOST.
-Most importantly, if WLR borrows millions and spends the money to buy
back shares, won't it have to cut back its spending on expansion and
investment in its business. DON'T BE FOOLED INTO THINKING THAT WLR CAN
BORROW MILLIONS TO BUY BACK SHARES AND CONTINUE TO GROW.
[LOGO]
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The millions that WLR will spend buying back shares should instead be
invested in WLR -- opening new markets, developing new products, building new
plants and selling more poultry. Tyson wants to acquire WLR so that it can make
these investments and expand opportunities for all.
WLR is now not merely rejecting Tyson, it is also contemplating a share
buyback plan that could severely limit WLR's opportunities for growth. We
believe that this is a cynical strategy that needlessly sacrifices the interests
of shareholders, employees and growers, while pursuing the interests of
management.
MAKE NO MISTAKE: A LEVERAGED BUYBACK WILL SERVE ONE TRUE PURPOSE -- IT WILL
FURTHER ENTRENCH MANAGEMENT BY CONCENTRATING WLR'S SHAREHOLDER BASE.
Isn't it about time WLR and Tyson sat down across the table and tried to
negotiate a deal that would please all WLR shareholders? Wouldn't this be better
than needlessly shrinking WLR through a leveraged buyback of its shares?
PLEASE REMEMBER WE ARE WILLING TO NEGOTIATE ANY AND ALL TERMS OF OUR OFFER
FOR WLR, INCLUDING OUR PROVIDING A TAX FREE ALTERNATIVE. BY VOTING "FOR" YOU ARE
NOT OBLIGATING YOURSELF TO SELL YOUR STOCK AT ANY PRICE. WITHOUT A FAVORABLE
VOTE WE ARE CONVINCED THAT MANAGEMENT MAY NEVER SIT DOWN AND NEGOTIATE IN GOOD
FAITH ON YOUR BEHALF.
VOTE TO OPEN NEGOTIATIONS
VOTE "FOR" OUR PROPOSAL
Time is short. Please vote today or come to the meeting and vote in person
this Saturday at 1:00 p.m. in the Turner Ashby High School in Bridgewater,
Virginia after the conclusion of the poultry festival. We look forward to
speaking to those shareholders who are able to attend.
Very truly yours,
Don Tyson
CHAIRMAN
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IMPORTANT
If you need assistance in voting your shares or in changing your vote
please call MacKenzie Partners, Inc. toll-free at (800) 322-2885. If your
shares are held for you by a bank or brokerage firm, only your banker or
broker can vote your shares and only after receiving your specific
instructions. Accordingly, please instruct your banker or broker to vote
"FOR" Tyson's proposal on the BLUE proxy card. Please vote today!
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