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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1/A
AMENDMENT NO. 3
TENDER OFFER STATEMENT
(PURSUANT TO SECTION 14(d)(1) OF THE SECURITIES EXCHANGE ACT OF 1934)
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VOICE CONTROL SYSTEMS, INC.
(NAME OF SUBJECT COMPANY)
VULCAN MERGER SUB, INC.
a wholly owned subsidiary of
PHILIPS ELECTRONICS NORTH AMERICA
CORPORATION
an indirectly owned subsidiary of
KONINKLIJKE PHILIPS ELECTRONICS N.V.
(ROYAL PHILIPS ELECTRONICS)
(BIDDERS)
COMMON STOCK, PAR VALUE $.01 PER SHARE
(TITLE OF CLASS OF SECURITIES)
92861B100
(CUSIP NUMBER OF CLASS OF SECURITIES)
WILLIAM E. CURRAN
PRESIDENT
1251 AVENUE OF THE AMERICAS
20TH FLOOR
NEW YORK, NEW YORK 10020
212-536-0500
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSONS AUTHORIZED
TO RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF BIDDERS)
COPIES TO:
NEIL T. ANDERSON, ESQ.
SULLIVAN & CROMWELL
125 BROAD STREET
NEW YORK, NEW YORK 10004
(212) 558-4000
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<PAGE>
SCHEDULE 14D-1
- ---------------------
CUSIP NO. 92861B100
- ---------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Koninklijke Philips Electronics N.V. (Royal Philips Electronics)
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC; OO
- --------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f)
[ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
The Netherlands
- --------------------------------------------------------------------------------
7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
12,697,441 shares of common stock, par value $0.01 per share
- --------------------------------------------------------------------------------
8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
91.3%
- --------------------------------------------------------------------------------
10. TYPE OF REPORTING PERSON
HC; CO
- --------------------------------------------------------------------------------
2
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SCHEDULE 14D-1
- ---------------------
CUSIP NO. 92861B100
- ---------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Philips Holding USA Inc.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f)
[ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
12,697,441 shares of common stock, par value $0.01 per share
- --------------------------------------------------------------------------------
8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
91.3%
- --------------------------------------------------------------------------------
10. TYPE OF REPORTING PERSON
HC
- --------------------------------------------------------------------------------
3
<PAGE>
SCHEDULE 14D-1
- ---------------------
CUSIP NO. 92861B100
- ---------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Philips Electronics North America Corporation
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f)
[ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
12,697,441 shares of common stock, par value $0.01 per share
- --------------------------------------------------------------------------------
8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
91.3%
- --------------------------------------------------------------------------------
10. TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
4
<PAGE>
SCHEDULE 14D-1
- ---------------------
CUSIP NO. 92861B100
- ---------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Vulcan Merger Sub, Inc.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f)
[ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
12,697,441 shares of common stock, par value $0.01 per share
- --------------------------------------------------------------------------------
8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
91.3%
- --------------------------------------------------------------------------------
10. TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
5
<PAGE>
This Amendment No. 3 is filed to supplement and amend the information
set forth in the Tender Offer Statement on Schedule 14D-1 filed by Koninklijke
Philips Electronics N.V., a company incorporated under the laws of The
Netherlands ("Royal Philips"), Philips Electronics North America Corporation, a
Delaware corporation ("Parent"), and Vulcan Merger Sub, Inc., a Delaware
corporation (the "Purchaser"), on May 14, 1999 as amended by Amendment No. 1 to
such Schedule filed with the SEC on June 2, 1999, and Amendment No. 2 to such
Schedule filed with the SEC on June 15, 1999 (as so amended the "Schedule
14D-1"), with respect to shares of Common Stock, par value $0.01 per share (the
"Shares"), of Voice Control Systems, Inc., a Delaware corporation. Unless
otherwise indicated, the capitalized terms used herein shall have the meanings
specified in the Schedule 14D-1, including the Offer to Purchase filed as
Exhibit (a)(1) thereto.
On June 21, 1999, Royal Philips announced that Purchaser accepted for
payment all of the 12,638,188 shares which were validly tendered pursuant to the
Tender Offer and not withdrawn prior to the expiration of the Offer, including
62,902 shares tendered pursuant to Notices of Guaranteed Delivery.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
Item 11 is hereby amended to add the following:
(a)(12) Press release issued by Royal Philips, dated June 21, 1999, announcing
the expiration of the Tender Offer.
(c)(5) Amendment No. 1 to Agreement and Plan of Merger, dated June 24, 1999,
among Parent, the Company and the Purchaser.
6
<PAGE>
SIGNATURES
After due 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: June 28, 1999
KONINKLIJKE PHILIPS ELECTRONICS N.V.
By: /s/ Eric P. Coutinho
-------------------------------------------
Name: Eric P. Coutinho
Title: Director and Deputy Secretary
PHILIPS HOLDING USA INC.
By: /s/ William E. Curran
-------------------------------------------
Name: William E. Curran
Title: Senior Vice President-Finance
PHILIPS ELECTRONICS NORTH AMERICA
CORPORATION
By: /s/ William E. Curran
-------------------------------------------
Name: William E. Curran
Title: Senior Vice President and
Chief Financial Officer
VULCAN MERGER SUB, INC.
By: /s/ William E. Curran
-------------------------------------------
Name: William E. Curran
Title: President and Chief Executive Officer
7
<PAGE>
EXHIBIT INDEX
(a)(12) Press release issued by Royal Philips, dated June 21, 1999, announcing
the expiration of the Tender Offer.
(c)(5) Amendment No. 1 to Agreement and Plan of Merger, dated June 24, 1999,
among Parent, the Company and the Purchaser.
8
EXHIBIT (a)(12)
Amsterdam, June 21, 1999
PHILIPS COMPLETES TENDER OFFER FOR VOICE CONTROL SYSTEMS,
INC.
APPROXIMATELY 90.9% SHARES RECEIVED
Royal Philips Electronics of The Netherlands (AEX: PHI, NYSE: PHG) and
Voice Control Systems, Inc., (NASDAQ: VCSI) of the United States
announced today that Philips has completed its tender offer for the
outstanding common stock of VCS. The tender offer expired at 5:00 p.m.,
Eastern time on Friday, June 18, 1999. Based on preliminary
information, a total of 12,638,188 shares (including 62,902 shares
subject to guaranteed delivery), representing approximately 90.9% of
the outstanding common stock of VCS, were validly tendered and not
withdrawn prior to the expiration of the offer. All such shares have
been accepted for purchase in accordance with the terms of the offer.
Under the terms of the merger agreement announced by both companies on
May 9, 1999, Philips will complete its acquisition of VCS by effecting
a "short form" merger under Delaware law, in which the remaining VCS
shares will be converted into the right to receive $4.00 per share in
cash. The merger is expected to be completed by the end of June 1999.
"We welcome VCS becoming now a part of our organization," said Ron van
den Bos, President & CEO of Philips Speech Processing, "We can offer to
our customers a one-stop-shop portfolio, as VCS's proven products truly
complement Philips Speech Processing's offering. It puts Philips in a
unique position in the industry by offering the widest spectrum of
speech technologies, ranging from simple voice commands to full natural
dialogue capabilities in the main markets."
For further information:
Philips Media Relations:
Alison Screeton
tel: +31 20 59 77216
9
<PAGE>
Voice Control Systems, Inc.
Kim Terry
tel: +1 972 726-1220
VCS is a leading speech software platform provider, offering
vocabularies in over 50 languages with more than 2.5 million speech
recognizers, including 500,000 in telecom, installed in 30 countries.
Speech-driven applications using VCS products are used today in
telecommunications, automotive and consumer electronics to enable
computers and electronic devices to understand and process human
speech. VCS is headquartered in Dallas, Texas, with regional offices in
Cambridge, Massachusetts, San Jose, California, and Portsmouth,
England. The company's stock is traded on the Nasdaq national market
system under the symbol VCSI. For more information visit the company's
web site at www.voicecontrol.com.
Philips Speech Processing is a pioneer and one of the global market
leaders in speech recognition, natural dialogue and language
understanding technologies. A developer of voice enabled telephony
applications, Royal Philips has a large installed base of speech
recognition and natural dialogue systems in Europe and is a major
speech technology provider in North America. Its natural dialogue
platform Speech Mania and Speech Pearl speech recognition engines are
used for banking, travel, auto attendants speech portals and white and
yellow pages automation. Royal Philips has more than 40 years
experience in the development and marketing of speech products and
developed the first commercially available PC based natural, continuous
speech recognition engine for speech to text applications in 1993.
Royal Philips' line of end user software (Freespeech 98 and Freespeech
2000 for SOHO and consumer markets, and SpeechPro for the professional
dictation users) is available in 16 languages and its Vocon Speech
Recognizer for embedded systems has been successfully integrated in
consumer electronics products and devices. Royal Philips has set up
speech solutions design centers around the globe, supporting R&D and
the establishment of industry standards, and is a member in various
standardization bodies such as ECTF, SAPI, HAVi, HomeAPI, VXML, W3C and
VoiceTIMES. For Royal Philips' speech processing and speech recognition
business, visit: www.speech.philips.com.
ROYAL PHILIPS ELECTRONICS OF THE NETHERLANDS IS ONE OF THE WORLD'S
BIGGEST ELECTRONICS COMPANIES AND EUROPE'S LARGEST, WITH SALES OF
US$33.9 BILLION IN 1998. IT IS A GLOBAL LEADER IN COLOR TELEVISION
SETS, LIGHTING, ELECTRIC SHAVERS, COLOR PICTURE TUBES FOR TELEVISIONS
AND MONITORS, AND ONE-CHIP TV PRODUCTS. ITS 228,800 EMPLOYEES IN MORE
THAN 60 COUNTRIES ARE ACTIVE IN THE AREAS OF LIGHTING, CONSUMER
ELECTRONICS, DOMESTIC APPLIANCES, COMPONENTS, SEMICONDUCTORS, MEDICAL
SYSTEMS, BUSINESS ELECTRONICS, AND IT SERVICES (ORIGIN). ROYAL PHILIPS
IS QUOTED ON THE NYSE, LONDON, FRANKFURT,
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<PAGE>
AMSTERDAM AND OTHER STOCK EXCHANGES. NEWS FROM ROYAL PHILIPS IS LOCATED
AT WWW.NEWS.PHILIPS.COM.
11
EXHIBIT (c)(5)
AMENDMENT NO. 1
TO
AGREEMENT AND PLAN OF MERGER
Among
PHILIPS ELECTRONICS NORTH
AMERICA CORPORATION,
VOICE CONTROL SYSTEMS, INC.
and
VULCAN MERGER SUB, INC.
Dated as of June 24, 1999
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<PAGE>
AMENDMENT NO. 1
TO
AGREEMENT AND PLAN OF MERGER
AMENDMENT NO. 1 TO AGREEMENT AND PLAN OF MERGER (hereinafter called
this "Amendment"), dated as of June 24, 1999, among Philips Electronics North
America Corporation, a Delaware corporation ("Parent"), Voice Control Systems,
Inc., a Delaware corporation (the "Company"), and Vulcan Merger Sub, Inc., a
Delaware corporation and a wholly-owned subsidiary of Parent ("Merger Sub").
RECITALS
WHEREAS, the respective boards of directors of each Parent, Merger Sub
and the Company have determined that the merger of the company with and into
Merger Sub (the "Merger"), upon the terms and subject to the conditions set
forth in the Agreement and Plan of Merger, dated as of May 9, 1999 (the "Merger
Agreement"), among the Company, Parent and Merger Sub is advisable and have
approved the Merger; and
WHEREAS, the Company, Parent and Merger Sub desire to make certain
amendments to the Merger Agreement.
NOW, THEREFORE, in consideration of the premises, and of the
representations, warranties, covenants and agreements contained herein and in
the Merger Agreement, the parties hereto agree as follows:
1. Capitalized terms used but not otherwise defined herein shall have the
meanings ascribed to them in the Merger Agreement.
2. Section 3.1. of the Merger Agreement is hereby amended by deleting it in its
entirety and replacing it with the following:
3.1. The Certificate of Incorporation. The Certificate of
Incorporation of Merger Sub (the "Certificate") in effect at the Effective
Time shall be the Certificate of Incorporation of the Surviving
Corporation, until duly amended in accordance with the terms thereof, and
the DGCL.
3. This Amendment may be executed in any number of counterparts, each such
counterpart being deemed to be an original instrument, and all such counterparts
shall together constitute the same agreement.
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<PAGE>
IN WITNESS WHEREOF, this Amendment has been duly executed and delivered
by the duly authorized officers of the parties hereto on the date first
hereinabove written.
PHILIPS ELECTRONICS NORTH AMERICA
CORPORATION
By /s/ William E. Curran
--------------------------------------
Name: William E. Curran
Title: Senior Vice President and Chief
Financial Officer
VULCAN MERGER SUB, INC.
By /s/ William E. Curran
--------------------------------------
Name: William E. Curran
Title: President and Chief Executive Officer
VOICE CONTROL SYSTEMS, INC.
By /s/ Kim S. Terry
--------------------------------------
Name: Kim S. Terry
Title: Vice President Finance
14
