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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
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ALBA-WALDENSIAN, INC.
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(Name of Issuer)
Common Stock, par value $2.50 per share
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(Title of Class of Securities)
012041109
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(CUSIP Number of Class of Securities)
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Arie Wolfson, President
AWS Acquisition Corp.
c/o Tefron Ltd.
28 Chida Street
Bnei-Brak, 51371, Israel
011-972-3-579-8701
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
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Copies of all notices should be sent to:
Morton A. Pierce, Esq.
Douglas L Getter, Esq.
Dewey Ballantine LLP
1301 Avenue of the Americas
New York, NY 10019-6092
(212) 259-8000
November 12, 1999
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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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box /_/.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 9 pages)
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CUSIP No. 012041109 SCHEDULE 13D Page 2 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AWS Acquisition Corp.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
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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
BK, AF
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5 CHECK BOX 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
State of Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 1,801,766*
WITH
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9 SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
1,801,766*
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,801,766*
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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)
54%
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14 TYPE OF REPORTING PERSON
CO
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* See "Item 5 - Interest in Securities of Issuer" herein.
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CUSIP No. 012041109 SCHEDULE 13D Page 3 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tefron U.S. Holdings, Corp.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
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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
BK, AF
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5 CHECK BOX 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
State of Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 1,801,766*
WITH
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9
SOLE DISPOSITIVE POWER
0
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10
SHARED DISPOSITIVE POWER
1,801,766*
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,801,766*
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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)
54%
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14 TYPE OF REPORTING PERSON
CO
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* See "Item 5 - Interest in Securities of Issuer" herein.
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CUSIP No. 012041109 SCHEDULE 13D Page 4 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tefron Ltd.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
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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
BK, WC
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5 CHECK BOX 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
Israel
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 1,801,766*
WITH
-------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
1,801,766*
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,801,766*
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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)
54%
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14 TYPE OF REPORTING PERSON
CO
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* See "Item 5 - Interest in Securities of Issuer" herein.
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CUSIP No. 012041109 SCHEDULE 13D Page 5 of 9 Pages
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Item 1. Security and Issuer.
(a). The name of the issuer is Alba-Waldensian, Inc., a Delaware
corporation ("the Company") which has its principal executive offices located
at P.O. Box 100, 201 St. Germain Avenue, SW, Valdese, North Carolina 28690.
(b). The title and class of equity securities to which this
statement relates is the Common Stock, par value of $2.50 per share of the
Company (the "Shares").
Item 2. Identity and Background.
(a) through (c) and (f). This Statement is filed on behalf of,
AWS Acquisition Corp., a Delaware corporation ("Purchaser") and a wholly-owned
subsidiary of Tefron U.S Holdings Corp., a Delaware corporation ("Parent") and
a wholly-owned subsidiary of Tefron Ltd., a corporation organized under the
laws of the State of Israel ("Tefron").
The information concerning the name, state or other place of
origination, principal business and address of the principal office of Tefron,
Parent and Purchaser, and the name, age, business address, citizenship, present
principal occupation or employment (including the name, principal business and
address of any corporation or other organization in which such employment or
occupation is conducted) set forth on the cover page, under "Introduction," in
Section 9--"Certain Information Concerning Tefron, Parent and the Purchaser"
and in Schedule I--"Directors and Executive Officers of Tefron, Parent and the
Purchaser" of Purchaser's Offer to Purchase, dated November 12, 1999, a copy of
which is attached as Exhibit (a)(1) to the Schedule 14D-1 filed by Tefron,
Parent and Purchaser on November 12, 1999 (the "Offer to Purchase") is
incorporated herein by reference. Capitalized terms used and not defined herein
have the meanings ascribed to them in the Offer to Purchase.
(d) and (e). During the last five years, none of Tefron, Parent
or Purchaser, or, to the best of Tefron's, Parent's and Purchaser's knowledge,
any person listed in Schedule I to the Offer to Purchase has been (i)
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) made a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting activities subject to, federal or state
securities laws or finding any violations of such laws.
Item 3. Source and Amount of Funds or other Consideration.
The information set forth in Section 12--"Source and Amount of
Funds" of the Offer to Purchase is incorporated herein by reference.
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CUSIP No. 012041109 SCHEDULE 13D Page 6 of 9 Pages
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Item 4. Purpose of Transaction.
(a)-(g), (j). The information set forth under "Introduction", in
Section 11--"Purpose of the Offer; the Merger Agreement; the Support Agreement;
the Consulting Agreement; Appraisal Rights; Plans for the Company" and Section
13--"Dividends and Distributions" of the Offer to Purchase are incorporated
herein by reference.
(h) and (i). The information set forth in Section 7--"Possible
Effects of the Offer on the Market for the Shares; AMEX Listing; Exchange Act
Registration; Margin Regulations" of the Offer to Purchase is incorporated
herein by reference.
Except as disclosed in the Offer to Purchase, the Agreement and
Plan of Merger, dated as of November 8, 1999, by and among the Company, Parent
and Purchaser (the "Merger Agreement"), and the Support Agreement, dated as of
November 8, 1999 (the "Support Agreement"), by and between Parent, Purchaser
and certain stockholders of the Company (the "Support Shareholders"), none of
Tefron, Parent or Purchaser has any current plans or proposals that relate to
or would result in any of the events described in clauses (a) through (j) of
the instructions to Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) - (c). The information set forth under "Introduction" and in
Section 11--"Purpose of the Offer; the Merger Agreement; the Support Agreement;
the Consulting Agreement; Appraisal Rights; Plans for the Company" of the Offer
to Purchase is incorporated herein by reference. Pursuant to the Support
Agreement, the Support Shareholders have agreed, among other things, to validly
tender (and not to withdraw) pursuant to and in accordance with the terms of
the Offer all of the Shares beneficially owned by them (the "Support Shares").
The Support Agreement was entered into in connection with the Merger Agreement.
Additionally, each Support Shareholder has granted Parent and Purchaser an
irrevocable proxy to vote the such Support Shareholder's Support Shares in
connection with the transactions contemplated by the Merger Agreement. If such
proxy had been exercised prior to the expiration or waiver of all waiting
periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 as
amended (the "HSR Waiting Period"), such proxy would only have been exercisable
to the extent that Parent and Purchaser would have been entitled to vote up to
49.9% of the outstanding shares. The HSR Waiting Period expired on November 27,
1999, therefore, such proxy is exercisable to the full extent of the 1,801,766
Shares beneficially owned by the Support Shareholders and subject to the
Support Agreement (assuming the exercise of all such Support Shareholders'
options subject to the Support Agreement).
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CUSIP No. 012041109 SCHEDULE 13D Page 7 of 9 Pages
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(d) The information set forth in Section 11--"Purpose of the
Offer; the Merger Agreement; the Support Agreement; the Consulting Agreements;
Appraisal Rights; Plans for the Company" of the Offer to Purchase is
incorporated herein by reference. Until the acceptance for payment and payment
for Shares tendered pursuant to the Offer, each Support Shareholder will retain
the right to receive dividends in respect of, and the proceeds from the sale
of, the Shares of such Support Shareholder, subject to the Support Agreement.
Of the 1,801,766 Shares subject to the Support Agreement: Clyde Wm. Engle, the
Chairman of the Board of the Company ("Engle"), beneficially owns 977,000
Shares and options to acquire 5,000 Shares; GSC Enterprises, Inc., a Delaware
corporation controlled by Engle, beneficially owns 127,700 Shares, and; Nathan
H Dardick, a member of the Board of Directors of the Company beneficially owns
687,066 Shares and options to acquire 5,000 Shares.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
The information set forth under "Introduction" and in Section
10--"Background of the Offer; Contracts with the Company" and in Section
11--"Purpose of the Offer; the Merger Agreement; the Support Agreement; the
Consulting Agreements; Appraisal Rights; Plans for the Company" of the Offer to
Purchase are incorporated herein by reference.
Item 7. Materials to be Filed as Exhibits.
Exhibit A Offer to Purchase dated November 12, 1999.*
Exhibit B Commitment Letter of Bank Hapoalim B.M. to Tefron
Ltd., dated November 1, 1999.*
Exhibit C Agreement and Plan of Merger, dated November 8,
1999, among Tefron, Parent, Purchaser and the
Company.*
Exhibit D Support Agreement among Tefron, Parent, Purchaser
and the Selling Stockholders dated November 8,
1999.*
Exhibit E Letter Agreement between LaSalle Bank National
Association and Parent, Regarding the Clyde Wm.
Engle Pledge dated November 8, 1999.*
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* Incorporated by reference to combined Schedule 14D-1 and Schedule 13D filed
by Purchaser, Parent and Tefron on November 12, 1999.
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CUSIP No. 012041109 SCHEDULE 13D Page 8 of 9 Pages
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Exhibit F Letter Agreement between LaSalle Bank National
Association and Parent regarding the GSC
Enterprises, Inc. Pledge dated November 8, 1999.*
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* Incorporated by reference to combined Schedule 14D-1 and Schedule 13D filed
by Purchaser, Parent and Tefron on November 12, 1999.
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CUSIP No. 012041109 SCHEDULE 13D Page 9 of 9 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: December 3, 1999
AWS ACQUISITION CORP.
By: /s/ Arie Wolfson
-------------------------------
Name: Arie Wolfson
Title: President
By: /s/ Micha Korman
-------------------------------
Name: Micha Korman
Title: Vice-President
TEFRON U.S. HOLDINGS CORP.
By: /s/ Arie Wolfson
-------------------------------
Name: Arie Wolfson
Title: President
By: /s/ Micha Korman
-------------------------------
Name: Micha Korman
Title: Vice-President
TEFRON LTD.
By: /s/ Arie Wolfson
-------------------------------
Name: Arie Wolfson
Title: President
By: /s/ Micha Korman
-------------------------------
Name: Micha Korman
Title: Vice-President
