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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
(Rule 13d-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 44)*
CTS CORPORATION
(Name of issuer)
COMMON STOCK - NO PAR VALUE
(Title of class of securities)
126 501 105
(CUSIP number)
HENRY V. KENSING
DYNAMICS CORPORATION OF AMERICA
475 STEAMBOAT ROAD
GREENWICH, CONNECTICUT 06830-7197
(203) 869-3211
(Name, address and telephone number of person
authorized to receive notices and communications)
with a copy to:
Alan C. Myers
Skadden, Arps, Slate, Meagher & Flom LLP
919 Third Avenue
New York, New York 10022
(212) 735-3000
APRIL 14, 1997
(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 which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box |_|.
*Amendment No. 44 for Dynamics Corporation of America
Amendment No. 16 for LTB Investment Corporation
Page 1 of 5 Pages
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CUSIP NO. 126 501 105 13D PAGE 2 OF 5 PAGES
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Dynamics Corporation of America, I.R.S. Identification
No. 13-0579260
LTB Investment Corporation, a wholly owned subsidiary of
Dynamics bCorporation of America, I.R.S. Identification No.
06-1109554
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC and BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Dynamics Corporation of America - New York
LTB Investment Corporation - Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,303,100 for Dynamics Corporation of America, of which
OWNED BY 2,302,000 are held by LTB Investment Corporation, a
EACH wholly owned subsidiary of Dynamics Corporation of
REPORTING America
PERSON
WITH
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8 SHARED VOTING POWER
None
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9 SOLE DISPOSITIVE POWER
2,303,100 for Dynamics Corporation of
America, of which 2,302,000 are held by
LTB Investment Corporation, a wholly
owned subsidiary of Dynamics Corporation
of America
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10 SHARED DISPOSITIVE POWER
None
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CUSIP NO. 126 501 105 13D PAGE 3 OF 5 PAGES
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,303,100 for Dynamics Corporation of America, of which 2,302,000
are held by LTB Investment Corporation, a wholly owned subsidiary
of Dynamics Corporation of America
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES |_|
CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.1%
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14 TYPE OF REPORTING PERSON*
CO
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ITEM 4. PURPOSE OF TRANSACTION.
Item 4 is hereby amended to add the following at the end
thereof:
DCA has held preliminary discussions with CTS regarding the
possibility of a business combination.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended to add the following at the end
thereof:
On November 7, 1995, subsequent to the filing of Amendment
No. 15 to its Schedule 13D, LTB acquired 11,000 shares of CTS Common Stock at
$33.875 per share in a privately negotiated transaction.
The holdings of DCA and its wholly owned subsidiary, LTB,
which aggregate 2,303,100 shares of CTS Common Stock, represent approximately
44.1% of CTS' outstanding shares (based on the number of shares of CTS Common
Stock outstanding on March 7, 1997, as shown in CTS' Form 10-K for the year
ended December 31, 1996).
DCA has the sole power to vote or direct the vote and to
dispose of or direct the disposition of all of such shares, except that
1,020,000 of such shares presently have no voting rights under the Control
Share Acquisition Chapter of the Indiana Business Corporation Law. To the best
of DCA's knowledge, none of its directors or executive officers is the
beneficial owner of any other shares of CTS Common Stock.
Page 4 of 5 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: April 14, 1997
DYNAMICS CORPORATION OF AMERICA
By: /s/ Henry V. Kensing
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Name: Henry V. Kensing
Title: Vice President
Page 5 of 5 Pages
