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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________________
AMENDMENT NO. 3
TO
SCHEDULE 14D-1
Tender Offer Statement Pursuant to Section 14(d)(1)
of the Securities Exchange Act of 1934
AND
SCHEDULE 13D
___________________________
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
________________________________
________________________________________________________________________________
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
________________________________________________________________________________
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%
________________________________________________________________________________
10. TYPE OF REPORTING PERSON
HC and CO
________________________________________________________________________________
2
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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%
________________________________________________________________________________
10. TYPE OF REPORTING PERSON
CO
________________________________________________________________________________
3
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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 CVG Services II, 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.
PENNSYLVANIA
________________________________________________________________________________
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%
________________________________________________________________________________
10. TYPE OF REPORTING PERSON
CO
________________________________________________________________________________
4
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This Amendment No. 3 amends and supplements the Tender Offer Statement on
Schedule 14D-1 and Schedule 13D dated November 29, 1995 (as amended by Amendment
No. 1 thereto, the "Statement"), 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 and 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.
On January 12, 1996, Parent and the Company issued the joint press
release attached hereto as Exhibit (a)(12). The information set forth in the
press release is incorporated herein by reference.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
(a)(12) Text of Press Release, dated January 12, 1996, issued by Parent
and the Company.
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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: January 12, 1996
BAXTER INTERNATIONAL INC.
By: /S/ HARRY M. JANSEN KRAEMER JR.
------------------------------------
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: January 12, 1996
BAXTER HEALTHCARE CORPORATION
By: /S/ JAY P. WERTHEIM
-----------------------------------
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: January 12, 1996
BAXTER CVG SERVICES II, INC.
By: /S/ JAY P. WERTHEIM
-----------------------------------
Name: Jay P. Wertheim
Title: Vice President and Secretary
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TENTATIVE RESOLUTION OF ISSUE AFFECTING BAXTER'S TENDER OFFER FOR PSICOR
DEERFIELD, Ill. and SAN DIEGO, Ca., January 12, 1996 -- Baxter Healthcare
Corporation ("Baxter") and PSICOR, Inc. ("PSICOR") jointly announced today that
a tentative resolution has been reached regarding certain aspects of the case
captioned REISS, ET AL. V. PSICOR, INC. AND PSICOR OFFICE LABORATORIES, INC. in
the Superior Court of New Jersey Law Division, Union County (the "Reiss
Action"). A subsidiary of Baxter has commenced a tender offer (the "Offer") to
purchase all of the outstanding shares of common stock of PSICOR at $17.50 net
cash per share.
The plaintiffs in the Reiss Action had sought, among other things, to
enjoin any sale of PSICOR Office Laboratories, Inc. ("POL"), which is a
subsidiary of PSICOR. The sale of POL (or an agreement providing for the
closing of such a sale promptly following the consummation of the Offer) is a
condition of the Offer. On January 10, 1996, the parties in the Reiss Action
read into the court record their agreement that defendants would post a bond of
$1.1 million and plaintiffs would not seek to enjoin the sale of POL, among
other things. The court directed the parties to prepare a stipulation and order
concerning this matter.
The Offer is scheduled to expire on Thursday, January 25, 1996 at 12:00
midnight New York City time. The Offer remains subject to various conditions,
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including, among other things, the valid tender and non-withdrawal at the
expiration of the Offer of at least 80% of the outstanding common stock of
PSICOR on a fully diluted basis.
PSICOR, founded in 1968, is the nation's leading provider of cardiovascular
technology and services and the placement and support of diagnostic clinical
laboratories to physicians. The company supplies over 400 hospitals and 200
physician offices with advanced life-sustaining equipment, skilled technicians,
disposable supplies and expert resource management on a cost-effective basis.
Baxter is the principal operating subsidiary of Baxter International Inc.
Through its subsidiaries, Baxter International Inc. is the leading manufacturer
and marketer of health-care products and services to health-care providers in
nearly 100 countries. The company concentrates research and development
programs in cardiovascular medicine, biotechnology, renal therapy and related
medical fields.
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