<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------
SCHEDULE 14D-1
TENDER OFFER STATEMENT
(AMENDMENT NO. 7)
(PURSUANT TO SECTION 14(D)(1) OF THE SECURITIES EXCHANGE ACT OF 1934)
------------------------
DYNAMICS CORPORATION OF AMERICA
(Name of Subject Company)
------------------------
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)
------------------------
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)
<PAGE>
<TABLE>
<C> <S> <C>
1. CTS CORPORATION (EIN: 35-0225010)
- ----------------------------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- ----------------------------------------------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------------------------------------------
4. SOURCE OF FUNDS
BK
- ----------------------------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(e) or 2(f) / /
- ----------------------------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Indiana
- ----------------------------------------------------------------------------------------------------
7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
100
- ----------------------------------------------------------------------------------------------------
8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(7) EXCLUDES CERTAIN SHARES / /
- ----------------------------------------------------------------------------------------------------
9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (7)
0.0%
- ----------------------------------------------------------------------------------------------------
10. TYPE OF REPORTING PERSON
CO
- ----------------------------------------------------------------------------------------------------
</TABLE>
2
<PAGE>
<TABLE>
<C> <S> <C>
1. CTS FIRST ACQUISITION CORP. (EIN: Applied For)
- ----------------------------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- ----------------------------------------------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------------------------------------------
4. SOURCE OF FUNDS
BK
- ----------------------------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(e) or 2(f) / /
- ----------------------------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ----------------------------------------------------------------------------------------------------
7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
0
- ----------------------------------------------------------------------------------------------------
8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7)
EXCLUDES CERTAIN SHARES / /
- ----------------------------------------------------------------------------------------------------
9. PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (7)
0%
- ----------------------------------------------------------------------------------------------------
10. TYPE OF REPORTING PERSON
CO
- ----------------------------------------------------------------------------------------------------
</TABLE>
3
<PAGE>
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 satisfaction or waiver prior
to the Expiration Date of 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 11. MATERIAL TO BE FILED AS EXHIBITS.
(a) (14) Press Release dated June 12, 1997.
4
<PAGE>
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 12, 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
<PAGE>
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT
NUMBER PAGE
- --------- -----------
<S> <C> <C>
(a) (14) Press Release dated June 12, 1997
</TABLE>
6
<PAGE>
Exhibit 99(c)(6)
CTS. May 28, 1997
Mr. Andrew Lozynisk
Dynamics Corporation of America
475 Steamboat Road
Greenwich, CT 06830-7197
RE: Agreement and Plan of Merger
Ladies and Gentlemen:
As you know, WHX Corporation announced an increase in its cash tender offer
for DCA shares to $56.00 per DCA share. We believe that the current terms of the
transaction provided for in the DCA-CTS Merger Agreement are clearly superior to
WHX's revised bid. Accordingly, as contemplated by Section 8.01(e) of the
DCA-CTS Merger Agreement, we hereby request that the DCA Board reconfirm its
approval and recommendation of the Offer, the Merger and the DCA-CTS Merger
Agreement within five business days.
Sincerely,
CTS CORPORATION
By /s/ JOSEPH P. WALKER
-----------------------------------------
Chairman of the Board
CTS FIRST ACQUISITION CORP.
By: /s/ JOSEPH P. WALKER
-----------------------------------------
Chairman of the Board
<TABLE>
<S> <C> <C>
CC: Skadden, Arps, Slate, Jones, Day, Reavis & Pogue
Maegher & Flam, L.L.P. 598 Lexington Avenue
919 Third Avenue New York, NY 10022
New York, NY 10022 Fax No.: (212) 755-7306
Fax No.: (212) 738-2019 Attention: Robert A. Profusek
Attention: Morris J. Kramer,
Esq.
</TABLE>
<PAGE>
Exhibit 99.(a)(14)
CTS CLEARS REGULATORY HURDLE FOR DYNAMICS BID
Elkart, Indiana, June 12, 1997. CTS Corporation (NYSE: CTS) announced
today that the Hart-Scott-Rodino antitrust review waiting period relating to
CTS' proposed acquisition of Dynamics Corporation of America (NYSE: DYA) has
terminated. Under its previously announced merger agreement with Dynamics,
CTS has offered to acquire up to 49.9% of Dynamics common stock at $56.25 per
share in cash; upon the completion of the tender offer, each Dynamics share
not purchased in the tender offer would be converted into 0.88 shares of CTS
common stock.
The tender offer remains subject to various other conditions, including
that not less than 25% of Dynamics' shares are validly tendered and not
withdrawn as of the expiration of the tender offer. The tender offer is
presently scheduled to expire at midnight, New York City time, on Friday,
June 13, 1997.
Joseph P. Walker, Chairman, President and Chief Executive Officers of CTS,
said, "Given WHX Corporation's competing unsolicited $56.00 tender offer, we
do not expect to receive substantial Dynamics tenders until the very end of
our offer. We remain fully committed to the proposed combination with
Dynamics, which we strongly believe to be in the best interests of both
companies and their shareholders. Accordingly, we urge Dynamics' shareholders
to tender their shares so that the tender offer will be fully subscribed by
tomorrow."
CTS is a diversified manufacturer of electronic and electromechanical
components for the automotive, computer equipment, communications equipment,
instruments and controls, defense and aerospace, and consumer electronics
markets. Headquartered in Elkhart, Indiana, CTS operates manufacturing plants
in the United States and abroad.
