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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)
WYMAN-GORDON COMPANY
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(Name of Issuer)
Common Stock, par value $1.00 per share
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(Title of Class and Securities)
983085 10 1
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(CUSIP Number of Class of Securities)
Diane K. Schumacher
Senior Vice President, General Counsel & Secretary
Cooper Industries, Inc.
P. O. Box 4446
Houston, Texas 77210
(713) 209-8400
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
July 14, 1998
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(Date of Event which Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box: |_|
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SCHEDULE 13D
CUSIP No. 983085 10 1
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Cooper Industries, Inc.
31-4156620
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) |X|
(b) |_|
- ------------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------------
(4) SOURCE OF FUNDS
00
- ------------------------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)
- ------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
- ------------------------------------------------------------------------------
(7) SOLE VOTING POWER
NUMBER OF
SHARES 14,000,000*
BENEFICIALLY ---------------------------------------
OWNED BY (8) SHARED VOTING POWER
EACH
REPORTING ---------------------------------------
PERSON (9) SOLE DISPOSITIVE POWER
WITH
14,000,000*
---------------------------------------
(10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,000,000*
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(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES
|_|
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
38.5%
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(14) TYPE OF REPORTING PERSON
CO
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*See Discussion under Item 5 of this Schedule 13D
2
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SCHEDULE 13D
CUSIP No. 983085 10 1
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Coopind Inc. (formerly CS Holdings Inc.)
78-0450820
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) |X|
(b) |_|
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(3) SEC USE ONLY
- ------------------------------------------------------------------------------
(4) SOURCE OF FUNDS
00
- ------------------------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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(7) SOLE VOTING POWER
NUMBER OF
SHARES 345,000*
BENEFICIALLY ---------------------------------------
OWNED BY (8) SHARED VOTING POWER
EACH
REPORTING ---------------------------------------
PERSON (9) SOLE DISPOSITIVE POWER
WITH
345,000*
---------------------------------------
(10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
345,000*
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES
|_|
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.0%
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(14) TYPE OF REPORTING PERSON
CO
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*See Discussion under Item 5 of this Schedule 13D
3
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SCHEDULE 13D
CUSIP No. 983085 10 1
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
CS Holdings International Inc.
- ------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) |X|
(b) |_|
- ------------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------------
(4) SOURCE OF FUNDS
00
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(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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(7) SOLE VOTING POWER
NUMBER OF
SHARES 345,000*
BENEFICIALLY ---------------------------------------
OWNED BY (8) SHARED VOTING POWER
EACH
REPORTING ---------------------------------------
PERSON (9) SOLE DISPOSITIVE POWER
WITH
345,000*
---------------------------------------
(10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
345,000*
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES
|_|
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.0%
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(14) TYPE OF REPORTING PERSON
CO
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*See Discussion under Item 5 of this Schedule 13D
4
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Cooper Industries, Inc. ("Cooper"), Coopind Inc. ("Coopind") and CS
Holdings International Inc. ("CS International") hereby amend their Schedule
13D, dated June 1, 1994, as amended by Amendment No. 1 thereto, dated February
3, 1995, Amendment No. 2 thereto, dated October 17, 1995, Amendment No. 3
thereto, dated November 24, 1995 and Amendment No. 4 thereto, dated August 27,
1997 (as amended, the "Schedule 13D"), which relates to the common stock, par
value $1.00 per share (the "Shares"), of Wyman-Gordon Company, a Massachusetts
corporation (the "Company"), as set forth below.
Item 1. Security and Issuer.
The address of the principal place of the Company is amended to be 244
Worcester Street, North Grafton, Massachusetts 01536-8001.
Item 2. Identity and Background.
Schedule A is hereby amended to reflect certain management changes at
Cooper.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of the Schedule 13D is hereby amended by adding the following:
On July 14, 1998, Cooper purchased 13,655,000 Shares from CS
International for $20 5/8 per Share (the closing sales price of a Share on the
New York Stock Exchange Composite Tape on July 13, 1998), or an aggregate
purchase price of $281,634,375. Cooper paid the purchase price by delivering to
CS International a 6.0% promissory note maturing August 13, 1998.
Item 4. Purpose of Transaction.
Item 4 of the Schedule 13D is hereby amended by adding the following:
At maturity of the DECS, which will occur on January 1, 1999, holders of
the DECS will be entitled to receive, in exchange for the DECS, Shares, or at
Cooper's option, cash. The number of Shares or the amount of cash will be based
on the market price of the Company's Common Stock shortly before the maturity
date. Cooper reacquired 13,655,000 Shares from CS International on July 14,
1998, as described in Item 3, so as to enable it to deliver Shares upon the
maturity of the DECS.
Item 5. Interest in Securities of the Issuer.
Paragraph (a) of Item 5 of the Schedule 13D is hereby amended to read as
follows:
5
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(a) As a result of the transaction described in Item 3, as of the date
hereof (i) Cooper beneficially owns 14,000,000 Shares, which represents
approximately 38.5% of the outstanding Shares of the Company and (ii) each of
Coopind and CS International beneficially owns 345,000 Shares, which represents
approximately 1.0% of the outstanding Shares of the Company. Of the 14,000,000
Shares held by Cooper, 13,655,000 are held directly and 345,000 are held
indirectly through Coopind and CS International. All of the 345,000 Shares held
by Coopind are held indirectly through CS International. All of the 345,000
Shares held by CS International are held directly.
Paragraph (c) of Item 5 of Schedule 13D is hereby amended to add the
following:
On July 14, 1998, Cooper purchased 13,655,000 Shares from CS
International for $20 5/8 per Share in a private transaction.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
Item 6 is hereby amended to add the following:
The information contained in Exhibits 99.98 through 99.99 is hereby
incorporated by reference in its entirety.
Item 7. Material to be filed as Exhibits.
Item 7 of the Schedule 13D is hereby amended by adding the following:
Exhibit 99.98 Copy of Letter Agreement between Cooper Industries, Inc.
and CS Holdings International Inc. dated July 14, 1998
confirming agreement for the purchase of 13,655,000
shares of the Common Stock of Wyman-Gordon Company.
Exhibit 99.99 Copy of Promissory Note issued by Cooper Industries, Inc.
to CS Holdings International Inc. in connection with the
purchase of 13,655,000 shares of the Common Stock of
Wyman-Gordon Company.
6
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Signatures
After reasonable inquiry and to the best of my knowledge and belief, the
information set forth in this Statement is true, complete and correct.
Date: July 17, 1998 COOPER INDUSTRIES, INC.
/s/ Diane K. Schumacher
--------------------------------------
Diane K. Schumacher
Title: Senior Vice President, General
Counsel and Secretary
Date: July 17, 1998 COOPIND INC.
/s/ Diane K. Schumacher
--------------------------------------
Diane K. Schumacher
Title: Secretary
Date: July 17, 1998 CS HOLDINGS INTERNATIONAL INC.
/s/ Diane K. Schumacher
--------------------------------------
Diane K. Schumacher
Title: Secretary
7
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Amendment to Schedule A
Directors and Executive Officers of Group Members
The list of directors and executive officers of Cooper Industries, Inc.
attached to this Schedule 13D is amended to reflect the following changes:
Name, Business Address
and Citizenship Present Principal Occupation
- ---------------------- ----------------------------
Changes in Principal Occupation/Title
- -------------------------------------
Warren L. Batts* Retired Chairman and Chief Executive
1 Northfield Plaza, Suite 214 Officer, Premark International, Inc.
Northville, Illinois 60093
Robert M. Devlin* Chairman and Chief Executive Officer,
2929 Allen Parkway American General Corporation
Houston, Texas 77019
H. John Riley, Jr.* Chairman, President and Chief Executive
Officer
James R. Wilson* Chairman, President and Chief Executive
2475 Washington Blvd. Officer, Cordant Technologies Inc.
Ogden, Utah 84401-2398
D. Bradley McWilliams Senior Vice President and Chief
Financial Officer
Frank A. Olson has retired as a director of Cooper Industries, Inc.
If no address is given for a director or officer, the director's or officer's
business address is that of Cooper. Unless otherwise indicated, each occupation
set forth opposite an individual's name refers to Cooper and each individual is
a citizen of the United States of America. Directors are indicated by an
asterisk.
8
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EXHIBIT INDEX
Exhibit 99.98 Copy of Letter Agreement between Cooper Industries, Inc. and CS
Holdings International Inc. dated July 14, 1998, confirming
agreement for the purchase of 13,655,000 shares of the Common
Stock of Wyman-Gordon Company.
Exhibit 99.99 Copy of Promissory Note issued by Cooper Industries, Inc. to CS
Holdings International Inc. in connection with the purchase of
13,655,000 shares of the Common Stock of Wyman-Gordon
Company.
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EXHIBIT 99.98
July 14, 1998
Board of Directors
CS Holdings International Inc.
Fourth Floor, One Capital Place
P. O. Box 847
Grand Cayman
Cayman Islands, British West Indies
Cooper Industries, Inc. hereby offers to purchase 13,655,000 shares of
Wyman-Gordon Company common stock ("W-G stock") at a per share price equal to
the closing market price of a share of W-G stock on July 13, 1998, with the
closing to take place at 8:00 a.m., Central time, on July 14, 1998.
Payment shall be in the form of a 30-day note, with the interest being computed
at 6% per annum on a 365-day basis.
Please indicate your acceptance of the above offer by signing and returning the
duplicate copy of this letter enclosed herewith.
Yours truly,
/s/ Diane K. Schumacher
Diane K. Schumacher
Senior Vice President, General Counsel
and Secretary
Agreed and accepted this 14th day of
July 1998.
CS HOLDINGS INTERNATIONAL INC.
By: /s/ E. Daniel Leightman
Name: E. Daniel Leightman
Title: President
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EXHIBIT 99.99
NOTE
USD281,634,375 July 14, 1998
Cooper Industries, Inc. an Ohio corporation ("Borrower"), promises to pay to CS
Holdings International Inc., a Cayman Islands corporation ("Lender"),
USD281,634,375 together with interest on the outstanding principal at the rate
of 6.00% per annum. Interest shall be computed on the basis of a year of 365
days.
The principal amount of this note and the accrued interest thereon shall be due
and payable on August 13, 1998.
The Borrower waives presentment, demand, notice, protest and all other demands
and notices in connection with the delivery, acceptance, performance, default or
enforcement of this note.
The interest paid hereon shall not exceed the maximum rate permitted by law.
This note shall be governed by and construed in accordance with the laws of the
State of Texas.
COOPER INDUSTRIES, INC.
By: /s/ Alan J. Hill
Title: Vice President and Treasurer
