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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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AMENDMENT NO. 1
TO
SCHEDULE 14D-1
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(d)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
AND
SCHEDULE 13D
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PSICOR, INC.
(NAME OF SUBJECT COMPANY)
BAXTER INTERNATIONAL INC.
BAXTER HEALTHCARE CORPORATION
BAXTER CVG SERVICES II, INC.
(BIDDERS)
COMMON STOCK, NO PAR VALUE
(TITLE OF CLASS OF SECURITIES)
0007449011
(CUSIP NUMBER OF CLASS OF SECURITIES)
------------------------------------
JAY P. WERTHEIM, ESQ.
VICE PRESIDENT, LAW
BAXTER HEALTHCARE CORPORATION
17221 RED HILL AVENUE
IRVINE, CALIFORNIA 92714
(714) 474-6415
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO
RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF BIDDERS)
WITH A COPY TO:
JOSEPH J. GIUNTA, ESQ.
SKADDEN, ARPS, SLATE, MEAGHER & FLOM
300 SOUTH GRAND AVENUE
LOS ANGELES, CALIFORNIA 90071
TELEPHONE: (213) 687-5000
NOVEMBER 29, 1995
-------------------------
DATE TENDER OFFER FIRST PUBLISHED, SENT OR GIVEN TO SECURITY HOLDERS
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CUSIP No. 0007449011 14D-1
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NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
1.
BAXTER INTERNATIONAL INC.
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
// (a)
2. // (b)
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
SOURCE OF FUNDS
4.
AF
- --------------------------------------------------------------------------------
5. // CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f)
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6.
DELAWARE
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7. 1,931,426 See Section 11 of the Offer to Purchase dated November 29, 1995
filed as Exhibit (a)(1) to the Statement (as defined herein)
- --------------------------------------------------------------------------------
8. // CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
9.
44.3%
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
10.
HC and CO
- --------------------------------------------------------------------------------
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CUSIP No. 0007449011 14D-1
- --------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
1.
Baxter Healthcare Corporation
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
// (a)
2. // (b)
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
SOURCE OF FUNDS
4.
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f)
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6.
DELAWARE
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7.
1,931,426 See Section 11 of the Offer to Purchase dated November 29, 1995
filed as Exhibit (a)(1) to the Statement
- --------------------------------------------------------------------------------
8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
9.
44.3%
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
10.
CO
- --------------------------------------------------------------------------------
3
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CUSIP No. 00074490111 14D-1
- --------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
1.
Baxter CVG Services II, Inc.
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2. // (a)
// (b)
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
SOURCE OF FUNDS
4.
AF
- --------------------------------------------------------------------------------
5. // CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f)
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6.
PENNSYLVANIA
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7.
1,931,426 See Section 11 of the Offer to Purchase dated November 29,
1995 filed as Exhibit (a)(1) to the Statement
- --------------------------------------------------------------------------------
8. // CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
9.
44.3%
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
10.
CO
- --------------------------------------------------------------------------------
4
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This Amendment No. 1 amends and supplements the Tender Offer Statement
on Schedule 14D-1 and Schedule 13D (the "Statement") dated November 29, 1995
filed by Baxter CVG Services II, Inc. ("Purchaser"), a Pennsylvania
corporation and direct wholly owned subsidiary of Baxter Healthcare
Corporation ("Parent"), a Delaware corporation and indirect wholly owned
subsidiary of Baxter International Inc. ("International"), a Delaware
corporation, (Purchaser, Parent, International, collectively, the
"Bidders"), relating to Purchaser's offer to purchase all outstanding shares
of Common Stock, no par value (the "Shares") of PSICOR, Inc., a Pennsylvania
corporation (the "Company"), at $17.50 per Share, net to the seller in cash,
upon the terms and subject to the conditions set forth in the Offer to
Purchase and the related Letter of Transmittal, copies of which are attached
as Exhibits (a)(1) and (a)(2) to the Statement (which are herein referred to
as the "Offer"). Capitalized terms not separately defined herein shall have
the meanings specified in the Statement.
ITEM 10. ADDITIONAL INFORMATION.
(c) The waiting period under the HSR Act applicable to the Offer expired
at 11:59 p.m. on December 13, 1995.
(e) The Company has advised the Bidders about the following matters
relating to a complaint captioned Reiss, et al. v. PSICOR, Inc. and PSICOR
Office Laboratories, Inc., Docket No. UNN-L-6687-95 (the "Reiss Action"),
that was filed in the Superior Court of New Jersey Law Division, Union County
(the "New Jersey Court"), on November 21, 1995 and amended on November 27,
1995. The Reiss Action alleges fraud, breach of contract and breach of the
implied covenant of good faith by the Company and POL stemming from, among
other things, the termination of the plaintiffs' employment with POL which
occurred on or about November 1, 1995. On December 6, 1995 the Company
learned that an Order to Show Cause (Without Restraints) (the "New Jersey
Order") was filed by the New Jersey Court on December 4, 1995 which, among
other things, scheduled a hearing for January 10, 1996 as to why a
preliminary injunction should not be issued restraining and enjoining the
Company and POL from, among other things, divesting, selling, disposing of or
otherwise transferring ownership of POL. On December 6, 1995 the Company and
POL filed a complaint captioned PSICOR, Inc. and PSICOR Office Laboratories,
Inc. v. Reiss, et al., Docket No. 695157, in the Superior Court of the State
of California for the County of San Diego alleging various claims against the
plaintiffs in the Reiss Action and others (collectively, the "Defendants")
for, among other things, breach of contract and fraud in connection with
PSICOR's 1994 acquisition of POL from the Defendants. Such complaint seeks
unspecified damages and declaratory relief. On December 15, 1995, the Company
and POL will file a Motion to Dismiss the Reiss Action generally based on
improper venue. If such Motion to Dismiss is not
successful, the Company intends to seek the acceleration of the January 10,
1996 hearing contemplated by the New Jersey Order.
Under the terms of the Offer, Purchaser is not required to consummate
the Offer if, among other things, it determines that "if POL has not been
sold pursuant to a Higher POL Offer, ... all conditions precedent to the
closing of the transactions contemplated by the POL Agreement shall not be
capable of being satisfied promptly." It is a condition to the obligations of
the Company, Dunaway Holdings and POL to consummate the transactions
contemplated by the POL Purchase Agreement that "no temporary restraining
order, preliminary injunction or permanent injunction or other order
precluding, restraining, enjoining, preventing or prohibiting the
consummation of the [POL Purchase] Agreement shall have been issued by any
Federal, state or foreign court or other governmental or regulatory authority
and remain in effect." No injunction has been issued regarding the
transactions contemplated by the POL Agreement, and the New Jersey Order does
not specifically prohibit the consummation of such transactions prior to the
January 10, 1996 hearing. However, if such an injunction is issued, or if the
issues raised by the New Jersey Order are not otherwise satisfactorily
resolved prior to the January 3, 1996 scheduled expiration of the Offer, the
Purchaser may review its rights and obligations with respect to the Offer.
The Company has advised the Bidders that the Company intends to vigorously
defend the Reiss Action and any attempt by the plaintiffs to enjoin or delay
the sale of POL.
5
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SIGNATURE
After due inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Dated: December 14, 1995
BAXTER INTERNATIONAL INC.
By: /S/ HARRY M. JANSEN KRAEMER JR.
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Name: Harry M. Jansen Kraemer Jr.
Title: Senior Vice President
and Chief Financial Officer
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SIGNATURE
After due inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Dated: December 14, 1995
BAXTER HEALTHCARE CORPORATION
By: /S/ JAY P. WERTHEIM
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Name: Jay P. Wertheim
Title: Vice President, Law
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SIGNATURE
After due inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Dated: December 14, 1995
BAXTER CVG SERVICES II, INC.
By: /S/ JAY P. WERTHEIM
--------------------------------------
Name: Jay P. Wertheim
Title: Vice President and Secretary
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