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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1
TENDER OFFER STATEMENT
(AMENDMENT NO. 5)
(PURSUANT TO SECTION 14(D)(1) OF THE SECURITIES EXCHANGE ACT OF 1934)
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DYNAMICS CORPORATION OF AMERICA
(Name of Subject Company)
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CTS CORPORATION
CTS FIRST ACQUISITION CORP.
(Bidders)
COMMON STOCK, PAR VALUE $.10 PER SHARE
(Title of Class of Securities)
268039 10 4
(CUSIP Number of Class of Securities)
JOSEPH P. WALKER
Chairman, President
and Chief Executive Officer
CTS Corporation
905 West Boulevard North
Elkhart, Indiana 46314
Telephone: (219) 293-7511
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Bidder)
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Copies to:
ROBERT A. PROFUSEK, ESQ.
Jones, Day, Reavis & Pogue
599 Lexington Avenue
New York, New York 10022
Telephone: (212) 326-3939
MAY 16, 1997
(DATE TENDER OFFER FIRST PUBLISHED, SENT OR GIVEN TO SECURITY HOLDERS)
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1. CTS CORPORATION (EIN: 35-0225010)
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
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
Indiana
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7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
100
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8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(7) EXCLUDES CERTAIN SHARES / /
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9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (7)
0.0%
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10. TYPE OF REPORTING PERSON
CO
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2
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<C> <S> <C>
1. CTS FIRST ACQUISITION CORP. (EIN: Applied For)
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
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
New York
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7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
0
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8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7)
EXCLUDES CERTAIN SHARES / /
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9. PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (7)
0%
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10. TYPE OF REPORTING PERSON
CO
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3
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This Statement amends and supplements the Tender Offer Statement on Schedule
14D-1 (the "Schedule 14D-1") filed with the Securities and Exchange Commission
on May 16, 1997, as amended, by CTS First Acquisition Corp. ("Purchaser"), a New
York corporation and wholly owned subsidiary of CTS Corporation, an Indiana
corporation ("CTS"), to purchase up to 49.9% of the issued and outstanding
shares of Common Stock, par value $.10 per share (the "Shares"), of Dynamics
Corporation of America, a New York corporation (the "Company"), together with
the associated purchase rights issued pursuant to the Rights Agreement, dated as
of January 30, 1986, as amended, between the Company and First National Bank of
Boston, as Rights Agent, at $56.25 per Share, net to the seller in cash, without
interest thereon, on the terms and subject to the conditions set forth in the
Offer To Purchase, dated May 16, 1997 (the "Offer To Purchase"), as amended and
supplemented by the Supplement thereto, dated June 2, 1997 (the "Supplement"),
and in the related Letters of Transmittal (which, together with the Offer To
Purchase, the Supplement and any amendments or supplements thereto, constitute
the "Offer"). Capitalized terms used and not defined herein shall have the
meaning assigned to such term in the Offer To Purchase, the Supplement and the
Schedule 14D-1.
ITEM 3. PAST CONTACTS, TRANSACTIONS OR NEGOTIATIONS WITH THE SUBJECT COMPANY.
Items 3(a)-(b) are hereby amended and supplemented by the information set
forth below.
On June 4, 1997, CTS and Purchaser received a letter, dated the same day,
from the Company stating that, at a Company Board meeting held earlier that day,
the Company Board adopted resolutions reconfirming its approval and
recommendation of the Merger Agreement and the Offer and Merger contemplated
thereby.
ITEM 7. CONTRACTS, ARRANGEMENTS, UNDERSTANDING, OR RELATIONSHIPS WITH RESPECT TO
THE SUBJECT COMPANY'S SECURITIES.
Item 7 is amended and supplemented by the information set forth below.
On June 4, 1997, CTS and Purchaser received a letter, dated the same day,
from the Company stating that, at a Company Board meeting held earlier that day,
the Company Board adopted resolutions reconfirming its approval and
recommendation of the Merger Agreement and the Offer and Merger contemplated
thereby.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
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(c) (7) Letter, dated June 4, 1997, from the Company to CTS and Purchaser.
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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: June 5, 1997 CTS CORPORATION
By: /s/ JOSEPH P. WALKER
------------------------------------------
Joseph P. Walker
Chairman, President
and Chief Executive Officer
CTS FIRST ACQUISITION CORP.
By: /s/ JOSEPH P. WALKER
------------------------------------------
Joseph P. Walker
President
5
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EXHIBIT INDEX
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EXHIBIT
NUMBER PAGE
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<S> <C> <C>
(c) (7) Letter, dated June 4, 1997, from the Company to CTS and Purchaser.
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EXHIBIT 99.(c)(7)
[DYNAMICS CORPORATION OF AMERICA LETTERHEAD]
June 4, 1997
CTS Corporation
CTS First Acquisition Corp.
905 West Boulevard North
Elkhart, Indiana 46514
Attn: Mr. Joseph P. Walker,
Chairman of the Board
Gentlemen:
By letter dated May 28, 1997, CTS Corporation ("CTS") and CTS First
Acquisition Corp. ("Sub") requested that within five business days thereof the
Board of Directors of Dynamics Corporation of America ("DCA") reconfirm its
approval and recommendation of the Agreement and Plan of Merger, dated as of
May 9, 1997, among CTS, Sub and DCA and the Offer and Merger contemplated
thereby.
In accordance with your request, I am writing to inform you that at a
meeting held on June 4, 1997, the DCA Board adopted resolutions reconfirming
such approval and recommendation.
Very truly yours,
DYNAMICS CORPORATION OF AMERICA
By /s/ Andrew Lozyniak
--------------------------------
Andrew Lozyniak
Chairman of the Board
cc: Jones, Day, Beavis & Pogue
599 Lexington Avenue, 30th Floor
New York, New York 10032
Attn: Robert Proflusek, Esq.
