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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FINAL AMENDMENT
TO
SCHEDULE 14D-1
TENDER OFFER STATEMENT
PURSUANT TO SECTION 14(D)(1) OF THE SECURITIES EXCHANGE ACT OF 1934
------------------------
GOULDS PUMPS, INCORPORATED
(NAME OF SUBJECT COMPANY)
GEORGE ACQUISITION, INC.
ITT INDUSTRIES, INC.
(BIDDERS)
COMMON STOCK, $1.00 PAR VALUE PER SHARE
(TITLE OF CLASS OF SECURITIES)
383550 10 0
(CUSIP NUMBER OF CLASS OF SECURITIES)
VINCENT A. MAFFEO, ESQ.
SENIOR VICE PRESIDENT AND GENERAL COUNSEL
ITT INDUSTRIES, INC.
FOUR WEST RED OAK LANE
WHITE PLAINS, NEW YORK 10604
TELEPHONE: (914) 641-2000
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED
TO RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF BIDDERS)
COPY TO:
WILLIAM E. CURBOW, ESQ.
SIMPSON THACHER & BARTLETT
425 LEXINGTON AVENUE
NEW YORK, NEW YORK 10017
TELEPHONE: (212) 455-2000
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<S> <C> <C> <C> <C> <C> <C>
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CUSIP NO. 383550 10 0
- ------------------------------
- -----------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
GEORGE ACQUISITION, INC.
- -----------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, BK
- -----------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(e) or 2(f) [
]
- -----------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
Directly: 20,269,134.5*
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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)
94.3%*
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10 TYPE OF REPORTING PERSON
CO
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* Shares owned as of the date of the reportable event, May 23, 1995.
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- ------------------------------
CUSIP NO. 383550 10 0
- ------------------------------
- -----------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
ITT INDUSTRIES, INC.
- -----------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
BK
- -----------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(e) or 2(f) [
]
- -----------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
INDIANA
- -----------------------------------------------------------------------------------------------------
7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
Indirectly through a wholly owned subsidiary: 20,269,134.5*
- -----------------------------------------------------------------------------------------------------
8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES [
]
- -----------------------------------------------------------------------------------------------------
9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
94.3%*
- -----------------------------------------------------------------------------------------------------
10 TYPE OF REPORTING PERSON
CO
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* As of the date of the reportable event, May 23, 1995.
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This Final Amendment amends and supplements the Tender Offer Statement on
Schedule 14D-1 filed on April 25, 1997 (as amended, the "Schedule 14D-1")
relating to the offer by George Acquisition, Inc., a Delaware corporation (the
"Purchaser"), a wholly owned subsidiary of ITT Industries, Inc., an Indiana
corporation (the "Parent"), to purchase all of the outstanding shares of Common
Stock, par value $1.00 per share (the "Shares"), of Goulds Pumps, Incorporated,
a Delaware corporation (the "Company"), at a purchase price of $37.00 per Share,
net to the seller in cash, without interest thereon, upon the terms and subject
to the conditions set forth in the Offer to Purchase dated April 25, 1997 (the
"Offer to Purchase") and in the related Letter of Transmittal (which, together
with the Offer to Purchase, as amended from time to time, constitute the
"Offer").
All capitalized terms used herein and not defined herein shall have the
meanings set forth in the Offer to Purchase.
ITEM 5. PURPOSE OF THE TENDER OFFER AND PLANS OR PROPOSALS OF THE BIDDER.
Item 5 of the Schedule 14D-1 is hereby amended and supplemented as follows:
On May 28, 1997, the Parent announced that it had merged the Purchaser with
and into the Company with the Company continuing as the surviving corporation
after the Merger and that the Merger became effective at 4:30p.m., New York
City time, on Tuesday, May 27, 1997. Because the Purchaser had acquired at least
90% of the outstanding Shares, the Merger was effected without a meeting of
stockholders of the Company. As a result of the Merger, the Company became a
wholly owned subsidiary of the Parent and each outstanding Share (other than
Shares held in the treasury of the Company, Shares owned by the Parent, the
Purchaser or any other direct or indirect subsidiary of the Parent or the
Company, and Shares owned by stockholders choosing to dissent and demand
appraisal of their Shares) was cancelled, extinguished, and converted into the
right to receive $37.00 per Share in cash, without interest thereon, less any
applicable withholding taxes. The full text of the press release is set forth
in Exhibit (a)(10) and is incorporated herein by reference.
On May 28, 1997, the Parent requested that the Shares no longer be quoted
on NASDAQ. The Parent expects that registration of the Shares under the Exchange
Act will be terminated.
ITEM 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
Item 6 of the Schedule 14D-1 is hereby amended and supplemented as follows:
Pursuant to the Offer, which expired at 12:00 midnight, New York City time,
on Thursday, May 22, 1997, the Purchaser ultimately acquired 20,269,134.5 Shares
(or approximately 94.3% of the issued and outstanding Shares).
The information provided in the Final Amendment under Item 5 is
incorporated herein by reference.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS
(a)(10) Press Release issued by the Parent on May 28, 1997.
2
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SIGNATURE
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.
ITT INDUSTRIES, INC.
By: /s/ ROBERT W. BEICKE
------------------------------------
Name: Robert W. Beicke
Title: Vice President
GOULDS PUMPS, INCORPORATED
as successor by merger to
GEORGE ACQUISITION, INC.
By: /s/ MICHAEL T. TOMAINO
------------------------------------
Name: Michael T. Tomaino
Title: Vice President, General
Counsel and Secretary
Date: May 28, 1997
3
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EXHIBIT INDEX
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EXHIBIT PAGE
NO. DESCRIPTION NO.
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(a)(10) Press release issued by the Parent on May 28, 1997...........................
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ITT Industries ITT Industries, Inc.
AUTOMOTIVE 4 West Red Oak Lane
DEFENSE & ELECTRONICS White Plains, NY 10604
FLUID TECHNOLOGY Tel: (914) 641-2000
Fax: (914) 698-2950
Contact: Thomas R. Martin
For Immediate Release 914-641-2157
- ---------------------- Ralph Allen
914-641-2030
ITT Industries and Goulds Pumps, Inc. Complete Merger
--Company Is World's Largest Producer of Pumps--
White Plains, NY, May 28, 1997--ITT Industries, Inc. (NYSE:IIN) announced
today that as of May 27, 1997, Goulds Pumps, Inc., had been merged with a
wholly-owned subsidiary of ITT Industries. As a result, each share of common
stock of Goulds not previously purchased in ITT Industries' tender offer which
expired at midnight on May 22, 1997 had been converted into the right to
receive $37 in cash.
ITT Industries first announced its intent to acquire Goulds on April 21.
With the completion of the merger, the combined businesses form the world's
largest pump manufacturer, with revenues from pumps, valves and other fluid
handling products exceeding $2 billion annually.
"We have an extraordinary fit in both our product lines and market
coverage," said Richard J. Labrecque, president of ITT Fluid Technology
Corporation. "Among other benefits, the synergies of our combined companies
offer unprecedented pathways to cross-selling and new product innovations.
Together, we will be even stronger than either of us would have been
individually."
ITT Industries' fluid technology business specializes in the manufacture
of pumps, valves, heat exchangers and related equipment used to move, measure
and control fluids. With 1996 sales of $1.3 billion in the fluid technology
segment, the company provides products serving markets that include wastewater
treatment, chemical processing, construction, bio-pharmaceutical, aerospace,
and general industry. With sales offices in over 100 countries, ITT Fluid
Technology is growing rapidly in emerging markets around the globe. The
company's brand names include Flygt, Bell and Gossett, A-C Pump, Richter and
Jabsco.
ITT Industries (www.ittind.com) is a leading global diversified
manufacturing company, with 1996 sales of $8.4 billion dollars from its three
primary business segments, fluid technology, automotive, and defense and
electronics. ITT Industries' automotive business is one of the world's largest
independent suppliers of systems and components to automotive manufacturers.
In the defense and electronics area, ITT Industries is a leader in the design,
manufacture and support of high technology electronic systems and components
for defense and commercial markets. In addition to the New York Stock Exchange,
ITT Industries' stock is traded under the symbol("IIN") on the Midwest,
Pacific, London, Frankfurt and Paris exchanges.
NOTE TO EDITORS: THIS IS ITT INDUSTRIES (NYSE:IIN) NOT ITT
CORPORATION (NYSE:ITT). ANY SHORTHAND REFERENCE TO ITT WILL BE
INCORRECT.
