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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1
(AMENDMENT NO. 5)
TENDER OFFER STATEMENT PURSUANT TO SECTION
14(d)(1) OF THE SECURITIES EXCHANGE ACT OF 1934
OHM CORPORATION
(NAME OF SUBJECT COMPANY)
INTERNATIONAL TECHNOLOGY CORPORATION
IT-OHIO, INC.
(BIDDER)
COMMON STOCK, PAR VALUE $0.10 PER SHARE
(TITLE OF CLASS OF SECURITIES)
670839 10 9
(CUSIP Number of Class of Securities)
ANTHONY J. DELUCA
PRESIDENT AND CHIEF EXECUTIVE OFFICER
INTERNATIONAL TECHNOLOGY CORPORATION
2790 MOSSIDE BOULEVARD
MONROEVILLE, PENNSYLVANIA 15146-2792
(412) 372-7701
(Name, Address and Telephone Number of Person Authorizing to Receive Notices
and Communications on Behalf of Bidder)
COPIES TO:
PETER F. ZIEGLER JOSEPH B. FRUMKIN
KAREN E. BERTERO SULLIVAN & CROMWELL
GIBSON, DUNN & CRUTCHER LLP 125 BROAD STREET
333 S. GRAND AVENUE NEW YORK, NEW YORK 10004
LOS ANGELES, CALIFORNIA 90071 (212) 558-4000
(213) 229-7000
CALCULATION OF FILING FEE
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TRANSACTION VALUATION AMOUNT OF FILING FEE
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$160,229,500* $ 32,045.90**
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* For purposes of fee calculation only. The total transaction value is based
on 13,933,000 Shares, the number of shares for which the Offer (as defined
herein) is made, multiplied by the offer price of $11.50 per Share.
** The amount of the filing fee calculated in accordance with Regulation 240.0-
11 of the Securities Exchange Act of 1934 equals 1/50 of 1% of the value of
the Shares to be purchased.
[_] CHECK BOX IF ANY PART OF THE FEE IS OFFSET AS PROVIDED BY RULES 0-11(a)(2)
AND IDENTIFY THE FILING WITH WHICH THE OFFSETTING FEE WAS PREVIOUSLY PAID.
IDENTIFY THE PREVIOUS FILING BY REGISTRATION STATEMENT NUMBER, OR THE FORM
OR SCHEDULE AND THE DATE OF ITS FILING.
Amount previously paid: Not Applicable Filing party: Not Applicable
Form or registration no.: Not Applicable Date filed: Not Applicable
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This Amendment No. 5 amends and supplements the Tender Offer Statement on
Schedule 14D-1, dated January 16, 1998 (the "Schedule 14D-1"), of IT-Ohio, Inc.
(the "Purchaser") and International Technology Corporation ("Parent"), as
amended, filed in connection with the Purchaser's offer to purchase 13,933,000
shares (each a "Share") of Common Stock, par value $0.10 per share, of OHM
Corporation, an Ohio corporation (the "Company") as set forth in the Schedule
14D-1 (the "Schedule 14D-1"). All capitalized terms not defined herein have the
meanings given to them in the Offer to Purchase (the "Offer to Purchase") filed
as Exhibit (a)(1) to the Schedule 14D-1.
ITEM 4. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The response to Item 4 is hereby amended and supplemented by the
information set forth under Section 9 in the Supplement to the Offer to
Purchase, filed as Exhibit (a)(12) hereto (the "Supplement"), and is
incorporated herein by reference. See "THE TENDER OFFER--9. Source and Amount of
Funds and Other Consideration."
ITEM 7. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO THE SUBJECT COMPANY'S SECURITIES.
The response to Item 7 is hereby amended and supplemented by the
information set forth under Section 12 in the Supplement and is incorporated
herein by reference. See "THE TENDER OFFER--The Purpose of the Offer and the
Merger; Plans for the Company; The Merger Agreement; The Company Voting
Agreement; The Parent Voting Agreement; The Option Termination Agreement;
Appraisal Rights."
ITEM 10. ADDITIONAL INFORMATION.
(f) The response to Item 10(f) is hereby amended and supplemented as
follows:
The Offer has been extended to 12:00 midnight, New York City time, on
Tuesday, February 24, 1998. Based on preliminary information provided by the
Depositary, Parent reported that as of 6:00 p.m., New York City time, on
February 17, 1998, approximately 11,230,200 Shares (including approximately
611,100 Shares subject to guaranteed delivery) have been tendered pursuant to
the Offer. A copy of Parent's press release announcing such extension has been
filed as Exhibit (a)(10) to this Amendment No. 5 and is incorporated herein by
reference in its entirety.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
The response to Item 11 is hereby amended and supplemented as follows:
(a)(10) Press release, dated February 18, 1998.
(a)(11) Second Amended and Restated Share Repurchase Agreement, dated as of
February 17, 1998, among the Company, WMX, Rust, Rust Remedial
Services Holding Company Inc. and Parent.
(a)(12) Supplement to the Offer to Purchase, dated February 18, 1998, of
Purchaser.
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SIGNATURE
After due inquiry and to the best of his knowledge and belief, the
undersigned certifies that the information set forth in this Amendment to the
Tender Offer Statement is true, complete and correct.
Dated: February 18, 1998
IT-OHIO, INC.
By /s/ James G. Kirk
-----------------
James G. Kirk
Secretary
SIGNATURE
After due inquiry and to the best of his knowledge and belief, the
undersigned certifies that the information set forth in this Amendment to the
Tender Offer Statement is true, complete and correct.
Dated: February 18, 1998
INTERNATIONAL TECHNOLOGY CORPORATION
By /s/ James G. Kirk
-----------------
James G. Kirk
Vice President and General Counsel
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EXHIBIT INDEX
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<TABLE>
<CAPTION>
EXHIBIT NO. DESCRIPTION
- ----------- -----------
<S> <C>
(a)(10) Press release, dated February 18, 1998.
(a)(11) Second Amended and Restated Share Repurchase
Agreement, dated as of February 17, 1998, among
the Company, WMX, Rust, Rust Remedial Services
Holding Company Inc. and Parent.
(a)(12) Supplement to the Offer to Purchase, dated
February 18, 1998, of Purchaser.
</TABLE>
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EXHIBIT (a)(10)
International Technology Corporation
2790 Mosside Boulevard
Monroeville, Pennsylvania 15146-2792
Contact: Harry J. Soose - (412) 372-7701
Richard R. Conte - (412) 380-6107
Grace Protos of MacKenzie Partners, Inc. - (800) 322-2885
FOR IMMEDIATE RELEASE
INTERNATIONAL TECHNOLOGY CORPORATION ANNOUNCES MODIFICATIONS TO OFFER TO
PURCHASE SHARES OF OHM CORPORATION AND EXTENDS OFFER TO FEBRUARY 24, 1998
February 18, 1998, Pittsburgh, Pennsylvania. International Technology
Corporation (NYSE:ITX) ("IT") announced today, in connection with its
outstanding tender offer (the "Offer") to purchase 13,933,000 shares of Common
Stock of OHM Corporation (NYSE:OHM) ("OHM"), that it had extended the expiration
date for the Offer to 12:00 midnight, New York City time, on Tuesday, February
24, 1998 and had amended the existing agreement among IT, OHM and Waste
Management, Inc. and certain of its affiliates (collectively referred to as
"WMX") to provide that WMX will tender in the Offer such number of the 9,668,000
OHM shares held by WMX as is necessary to cause the total number of OHM shares
tendered to equal the 13,933,000 share minimum condition.
Based on preliminary information provided by the depositary for the Offer,
IT reported that as of 6:00 p.m., New York City time, on February 17, 1998,
approximately 11,230,200 OHM shares (including approximately 611,100 OHM shares
subject to guaranteed delivery) have been tendered pursuant to the Offer. These
shares include 2,142,141 OHM shares tendered by
<PAGE>
WMX and approximately 5,000,000 OHM shares tendered by James L. Kirk, President
and Chief Executive Officer of OHM, Joseph L. Kirk, Executive Vice President of
OHM, and H. Wayne Huizenga and a related foundation.
The existing agreement among IT, OHM and WMX currently provides that,
concurrently with the purchase of OHM shares by IT under the Offer, OHM will
repurchase 5,235,381 OHM shares from WMX and WMX will not tender more than
2,142,141 OHM shares in the Offer. As the agreements related to the Offer are
currently structured, there is a reasonable likelihood that the 13,933,000 share
minimum condition will not be met. Consequently, IT, OHM and WMX have now
agreed to modify their agreement to provide that WMX will tender such number,
and only such number, of OHM shares in addition to the 2,142,141 OHM shares
which it has already tendered, as is necessary to achieve the 13,933,000 share
minimum condition in the Offer. In effect, WMX will be tendering additional OHM
shares to the extent that the Offer would otherwise be undersubscribed. OHM
will continue to be obligated to repurchase OHM shares from WMX concurrently
with the closing of the Offer up to a maximum of 5,235,381 OHM shares, to the
extent such OHM shares are not purchased in the Offer. This modification to the
agreement is designed to permit the transaction to proceed as a two step
transaction rather than as a one step merger transaction, which is the
alternative currently provided for in the transaction documents if the Offer is
not completed.
Under this revised structure, if WMX is required to tender more than
4,432,619 OHM shares to satisfy the minimum condition, the consideration in the
second step merger will consist of a combination of shares of Common Stock of IT
and cash, the amount of which will depend upon the number of OHM shares which
are actually purchased in the Offer from WMX in excess
2
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of 4,432,619. For example, pursuant to the terms of the Agreement and Plan of
Merger, if 5,432,619 OHM shares were to be purchased in the Offer from WMX, the
merger consideration would include (i) an aggregate of $11.5 million in cash and
(ii) shares of IT Common Stock based on a revised exchange ratio of 1.256 shares
of IT Common Stock for each OHM share, reduced from the exchange ratio of 1.394-
to-one which would be applicable if only 4,432,619 OHM shares were to be
purchased in the Offer (based on 28,274,405 OHM shares outstanding as of
February 17, 1998).
IT also announced that it has modified the terms of the $240 million credit
facility committed to be provided in connection with the Offer, and of the $425
million credit facility committed to be provided upon completion of IT's merger
with OHM, by groups of lenders arranged by Citicorp Securities, Inc. and
BancBoston Securities Inc., as Arrangers, and for whom Citicorp USA, Inc. will
be administrative agent and BankBoston, N.A. will be documentation agent.
The Arrangers have exercised their option to reallocate $50 million from
the revolving credit facility to the term loan included in the $425 million
credit facility. IT's lenders also agreed that, upon completion of the merger,
they would permit OHM's 8% convertible subordinated debentures due 2006 to
remain outstanding in an aggregate principal amount of approximately $47
million. The terms of the financing previously required the OHM debentures to
be redeemed after completion of the merger. IT agreed to reduce the aggregate
amount of the term loan included in the $425 million credit facility in an
amount equal to the principal amount of the debentures that will remain
outstanding. The effect of these changes is that, after the merger, the
revolving credit facility will be reduced from $200 million to $150 million and
the
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term loan will be increased from $225 million to $228 million. IT also
agreed to increase the annual amortization of the term loan from $2.25 million
to $4.5 million. In addition, IT will be required by the terms of the OHM
debentures to make annual redemptions in an amount equal to approximately $4.3
million.
IT is a leading global environmental infrastructure solutions firm. The
Company provides a full range of technology-driven, value-added consulting,
engineering and construction capabilities through a network of more than 40
offices in the U.S. and select international locations.
OHM is a leading diversified services firm, providing a broad range of
outsourced services for governmental and private sector clients. The Company
has worked at 300 military bases on projects for the U.S. Army Corps of
Engineers, the U.S. Departments of the Navy and the Air Force as well as
projects for the U.S. Environmental Protection Agency and the Department of
Energy. Private sector clients include those in petroleum, chemical,
transportation and general manufacturing.
4
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EXHIBIT (a)(11)
SECOND AMENDED AND RESTATED SHARE REPURCHASE AGREEMENT
SECOND AMENDED AND RESTATED SHARE REPURCHASE AGREEMENT (this "Second
Amended and Restated Agreement"), dated as of February 17, 1998, among OHM
Corporation, an Ohio corporation (the "Company"), Waste Management, Inc., a
Delaware corporation ("WMX"), Rust International Inc., a Delaware corporation
("Rust"), Rust Remedial Services Holding Company Inc., a Delaware corporation
(the "Shareholder"), and International Technology Corporation, a Delaware
corporation ("Parent").
WHEREAS, certain of the parties are party to that certain Share
Repurchase Agreement, dated as of January 15, 1998, among OHM Corporation, Waste
Management, Inc., Rust International Inc. and International Technology
Corporation (the "Original Agreement"), and certain of the parties to this
Agreement are also parties to the Standstill and Non-Competition Agreement,
dated as of May 30, 1995, among the Company, WMX and Rust (the "Standstill
Agreement"); and
WHEREAS, the Original Agreement was amended and restated as of
February 11, 1998 (the "Amended and Restated Agreement," the Original Agreement,
as amended and restated by the Amended and Restated Agreement and this Second
Amended and Restated Agreement, being hereinafter referred to as this
"Agreement"); and
WHEREAS, concurrently with the execution of the Original Agreement,
the Company, Parent and IT-Ohio, Inc., an Ohio corporation ("Merger Sub"),
entered into an Agreement and Plan of Merger, dated as of January 15, 1998 (as
it may be amended from time to time, the "Merger Agreement"), which provides
that Merger Sub will make a tender offer (the "Offer") for 13,933,000 shares of
Common Stock, par value $0.10 per share, of the Company ("Shares") and that,
subsequent to the consummation of the Offer, Merger Sub will merge with and into
the Company (the "Merger" and, collectively with the Offer and the other
transactions contemplated by the Merger Agreement, the "Merger Transactions");
and
WHEREAS, the Shareholder is the record holder of an aggregate of
9,668,000 Shares (the "Shareholder Shares"); and
<PAGE>
WHEREAS, Parent, the Company, WMX and the Shareholder wish, as a part
of the Merger Transactions, to provide for the repurchase by the Company from
the Shareholder, concurrently with the payment to BankBoston, N.A., as
Depositary for the Offer on behalf of holders of Shares tendering into the
Offer, of the aggregate purchase price for all Shares purchased in the Offer
(the "Payment Time"), of 5,235,381 Shareholder Shares (the "Repurchased
Shares"), subject to the provisions of Section 2.4(c), in a manner that will
increase the aggregate number of Shares acquired for cash in the Merger
Transactions and make it possible for the Merger Consideration (as defined in
the Merger Agreement) to consist solely of shares of Parent Common Stock (as
defined in the Merger Agreement); and
WHEREAS, the parties intend for WMX and the Shareholder, considered
together, not to receive any greater consideration per Share in the Merger
Transactions than the other holders of Shares have the opportunity to receive,
and that for Shareholder not to receive any greater amount of cash consideration
per Share in the Merger Transactions than the other holders of Shares have the
opportunity to receive; and
WHEREAS, in order to facilitate consummation of the Merger
Transactions, WMX and the Shareholder wish to agree (i) to cause to be tendered
into the Offer certain of the Shareholder Shares on the terms and in the manner
set forth herein, (ii) to vote or cause to be voted the Shareholder Shares and
any other shares of capital stock of the Company held by either of them so as to
facilitate consummation of the Merger Transactions, (iii) except as provided in
this Agreement, not to transfer or otherwise dispose of or permit to be
transferred or otherwise disposed of any of the Shareholder Shares, or any other
shares of capital stock of the Company, acquired by either of them hereafter and
prior to the Effective Time (as defined in the Merger Agreement), (iv) to
deliver to Parent an irrevocable proxy to vote the Shareholder Shares and any
other shares of capital stock of the Company acquired by the Shareholder or WMX
hereafter and prior to the Effective Time, (v) to amend or terminate, as the
case may be, certain agreements to which certain of the parties hereto are
parties, and (vi) to make certain other agreements, all as provided for herein.
<PAGE>
NOW, THEREFORE, for good and valuable consideration, the receipt,
sufficiency and adequacy of which is hereby acknowledged, the parties hereto
hereby amend and restate the Original Agreement, ab initio, as follows:
ARTICLE I
Definitions; Representations and Warranties
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1.1 Definitions. Terms used herein but not defined herein shall have
-----------
the respective meanings ascribed to such terms in the Merger Agreement.
1.2 Representations of WMX and the Shareholder. WMX and the
------------------------------------------
Shareholder jointly and severally represent and warrant to the Company that (a)
the Shareholder owns beneficially and of record (as such term is defined in the
Securities Exchange Act of 1934, as amended (the "1934 Act")) 9,668,000 Shares
free and clear of all liens, claims, charges, security interests or other
encumbrances (each, a "Lien") and, except for this Agreement and the warrants to
purchase Shares (the "Warrants") issued pursuant to the Warrant Agreement, dated
as of May 30, 1995, among the Company and WMX (the "Warrant Agreement"), there
are no options, warrants or other rights, agreements, arrangements or
commitments of any character to which WMX or the Shareholder is a party relating
to the pledge or disposition of any shares of capital stock of the Company and,
except for the Standstill Agreement and this Agreement, there are no voting
trusts or voting agreements to which WMX or the Shareholder is a party with
respect to any shares of capital stock of the Company; (b) neither WMX nor the
Shareholder beneficially owns any shares of capital stock of the Company other
than the Shareholder Shares, in the case of the Shareholder, and the Warrants,
in the case of WMX, and, except for the Warrants held by WMX, neither has any
options, warrants or other rights to acquire any additional shares of capital
stock of the Company or any security exercisable for or convertible into shares
of capital stock of the Company; (c) WMX and the Shareholder have full power and
authority to enter into, execute and deliver this Agreement and to perform fully
their respective obligations under this Agreement; and (d) this Agreement has
been duly executed and delivered by each of WMX, the Shareholder and Rust,
constitutes the legal, valid and binding obligation of
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WMX, the Shareholder and Rust and is enforceable against each of them in
accordance with its terms. The foregoing representations shall survive
consummation of the Merger Transactions and the other transactions contemplated
by this Agreement.
1.3 Representations of the Company. The Company represents and
------------------------------
warrants to WMX and the Shareholder that (a) the Company has full power and
authority to enter into, execute and deliver this Agreement and to perform fully
its obligations under this Agreement, (b) this Agreement has been duly executed
and delivered by the Company, constitutes the legal, valid and binding
obligation of the Company and is enforceable against it in accordance with its
terms, and (c) the Company has obtained all consents, approvals, permits and
authorizations required to be obtained by the Company pursuant to any law,
regulation, contract, agreement or instrument in connection with the execution
and delivery of this Agreement. The foregoing representations shall survive
consummation of the Merger Transactions and the other transactions contemplated
by this Agreement.
ARTICLE II
The Repurchase and the Offer
----------------------------
2.1 Repurchase of Shares. Subject to the terms and conditions of
--------------------
this Agreement, including the conditions set forth in Section 2.3 and the
provisions of Section 2.4(c):
(a) The Company agrees to purchase from the Shareholder, and the
Shareholder agrees to sell to the Company (such purchase and sale transaction,
the "Repurchase"), the Repurchased Shares, free and clear of any Liens at a
purchase price of $11.50 per Repurchased Share, or such greater price per
Repurchased Share as may be paid in the Offer (the "Repurchase Price").
(b) If for any reason the Company has not repurchased the Repurchased
Shares immediately prior to the Effective Time (as defined in the Merger
Agreement), or the Repurchased Shares have not been purchased in the Offer, the
Company shall take such action as may be necessary at such time to purchase the
Repurchased Shares at the Repurchase
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Price for cash at such time, so that the Repurchased Shares shall have been
acquired by the Company, Parent or Merger Sub prior to the Effective Time.
2.2 Repurchase Closing. (a) Subject to Section 2.4(c), the delivery
------------------
of the Repurchased Shares (the "Repurchase Closing") shall take place at the
offices of Sullivan & Cromwell, 125 Broad Street, New York, New York at the
Payment Time.
(b) At the Repurchase Closing:
(i) The Shareholder shall deliver to the Company certificates or
duly executed stock powers representing the Repurchased Shares not tendered
pursuant to a request pursuant to Section 2.4(c) (in the case of
certificates, duly endorsed and in form for transfer to the Company); and
(ii) The Company shall pay to the Shareholder, by wire transfer,
to an account designated by the Shareholder no fewer than two business days
prior to the Repurchase Closing, immediately available funds equivalent to
the Repurchase Price multiplied by the number of Repurchased Shares.
2.3 Conditions to the Repurchase. (a) The respective obligations of
----------------------------
the Company and the Shareholder to consummate the Repurchase are subject to the
fulfillment of each of the following conditions, any or all of which may be
waived in whole or in part by the Company or the Shareholder, as the case may
be, to the extent permitted by applicable law:
(i) Concurrently with the Repurchase Closing, Merger Sub shall have
paid for Shares pursuant to the Offer.
(ii) No United States or state court or other Governmental Entity (as
defined in the Merger Agreement) of competent jurisdiction shall have
enacted, issued, promulgated, enforced or entered any statute, rule,
regulation, judgment, decree, injunction or other order (whether temporary,
preliminary or permanent) which is in effect and prohibits
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consummation of the transactions contemplated by the Merger Agreement or
this Agreement.
(b) The obligation of the Company to consummate the Repurchase is
subject to the condition that the representations and warranties of WMX and the
Shareholder contained in Section 1.2 are true and accurate in all material
respects as of the date hereof and as of the Repurchase Closing, provided,
however, that the foregoing condition may be waived in whole or in part by the
Company.
(c) The obligation of WMX and the Shareholder to consummate the
Repurchase is subject to the condition that the representations and warranties
of the Company contained in Section 1.3 are true and accurate in all material
respects as of the date hereof and as of the Repurchase Closing, provided,
however, that the foregoing condition may be waived in whole or in part by WMX
by the Shareholder.
2.4 The Tender Offer. (a) WMX and the Shareholder shall cause to be
----------------
tendered into the Offer, prior to the expiration or termination of the Offer,
2,142,141 Shares, shall cause such Shares not to be withdrawn from the Offer
prior to the expiration or termination of the Offer, and shall not cause more
than 2,142,141 Shares to be tendered into the Offer, except to the extent (and
only to the extent) that a request is made pursuant to Sections 2.4(b) or (c).
(b) Promptly upon WMX's receipt by telecopier of a written request
from Parent and the Company therefor, WMX and the Shareholder shall, subject to
the terms hereof, cause to be tendered into the Offer an additional 2,290,478
Shares, or such lesser number of Shares as Parent and the Company may request,
accompanied by a letter of transmittal and supplemental letter of transmittal in
form reasonably satisfactory to Parent and the Company stating that of the
Shares accompanying such instruments the holder thereof is tendering only such
number of Shares as is necessary to cause the aggregate number of Shares
tendered into and accepted for payment in the Offer to be equal to 13,933,000.
WMX and the Shareholder shall cause such number of Shares not to be withdrawn
from the Offer prior to the expiration or termination of the Offer.
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<PAGE>
(c) Provided that Parent and the Company shall have previously made
(or they concurrently make) a request pursuant to Section 2.4(b) with respect to
2,290,478 Shares, promptly upon WMX's receipt by telecopier of a written request
from Parent and the Company therefor, WMX and the Shareholder shall cause to be
tendered into the Offer such number of Repurchased Shares as Parent and the
Company shall reasonably estimate is necessary to be tendered in order to cause
the aggregate number of Shares tendered into the Offer to be equal to
13,933,000, accompanied by a letter of transmittal and supplemental letter of
transmittal in form reasonably satisfactory to Parent and the Company stating
that of the Repurchased Shares accompanying such instruments the holder thereof
is tendering only such number of Repurchased Shares as is necessary to cause the
aggregate number of Shares tendered into and accepted for payment in the Offer
to be equal to 13,933,000 and that such tender is subject to the condition
subsequent that all of the 4,432,619 Shares referred to in Sections 2.4(a) and
(b) are taken up and paid for in the Offer. WMX and the Shareholder shall cause
such number of Repurchased Shares not to be withdrawn from the Offer prior to
the expiration or termination of the Offer. In the event that Parent and the
Company make a request pursuant to this paragraph, the number of Repurchased
Shares repurchased at the Repurchase Closing shall be reduced by the number of
Repurchased Shares tendered into the Offer pursuant to this Section 2.4(c), and
any Repurchased Shares not accepted for payment in the Offer shall be purchased
by the Company, at the Repurchase Price, as promptly as practicable following
the payment for Shares in the Offer, but in any event not later than the date on
which the payment for Shares tendered by the Shareholder is transmitted to the
Shareholder by the Depositary for the Offer. The closing procedures set forth
in Section 2.2(b) shall be followed in respect of Repurchased Shares not
accepted for payment in the Offer.
ARTICLE III
The Merger
----------
3.1 Agreement to Vote Shares. In addition to and notwithstanding the
------------------------
provisions of Section 1.2 of the Standstill Agreement, WMX and the Shareholder
agree that during the term of this Agreement they consent to and
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approve the voting of the Shareholder Shares and any New Shares (as defined in
Section 4.2), (a) in favor of adoption of the Merger Agreement and in favor of
consummation of the Merger Transactions at every meeting of the shareholders of
the Company at which such matters are considered and at every adjournment
thereof or in connection with any written consent of the shareholders of the
Company, (b) in favor of the election to the Company's Board of Directors of
such number of Parent Representatives as Parent is permitted to cause to be
elected to the Company's Board of Directors pursuant to Section 1.4 of the
Merger Agreement, (c) against any action or agreement that would compete with,
impede, interfere with or attempt to discourage the Merger Transactions, or
inhibit the timely consummation of the Merger Transactions, (d) against any
action or agreement that would result in a breach in any material respect of any
covenant, representation or warranty or any other obligation of the Company
under the Merger Agreement and (e) against any merger, consolidation, business
combination, reorganization, recapitalization, liquidation or sale or transfer
of any material assets of the Company or its subsidiaries, except for the Merger
Transactions. The Shareholder agrees to deliver to Parent upon request a proxy
substantially in the form attached hereto as Exhibit A, which proxy shall be
irrevocable during the term of this Agreement to the fullest extent permitted
under Ohio law.
3.2 No Voting Trusts. WMX and the Shareholder agree that they will
----------------
not, nor will they permit any entity under their control to, deposit any of the
Shareholder Shares or any New Shares held by them or any entity under their
control in a voting trust or subject any of the Shareholder Shares or any New
Shares held by them or any entity under their control to any arrangement with
respect to the voting of the Shareholder Shares that could result in a
shareholder's vote or action by consent of the shareholders of the Company in
opposition to or in competition with the consummation of the Merger
Transactions.
3.3 No Proxy Solicitations. WMX and the Shareholder agree that they
----------------------
will not, nor will they permit any entity under their respective control to, (a)
solicit proxies or become a "participant" in a "solicitation" (as such terms are
defined in Regulation 14A under the 1934 Act) in opposition to or in competition
with the consummation of
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<PAGE>
the Merger Transactions or otherwise encourage or assist any party in taking or
planning any action which would compete with, impede, interfere with or attempt
to discourage the Merger Transactions or inhibit the timely consummation of the
Merger Transactions, (b) directly or indirectly encourage, initiate or cooperate
in a shareholders' vote or action by consent of the Company's shareholders in
opposition to or in competition with the consummation of the Merger
Transactions, or (c) become a member of a "group" (as such term is used in
Section 13(d) of the 1934 Act) with respect to any voting securities of the
Company for the purpose of opposing or competing with the consummation of the
Merger Transactions.
3.4 Waiver of Dissenters' Rights. The Shareholder hereby
----------------------------
unconditionally and irrevocably waives its rights pursuant to Sections 1701.84
et seq. of the Ohio General Corporation Law to exercise appraisal rights or
- -- ---
dissenters' rights with respect to the Offer, the Merger, or the other
transactions contemplated by the Merger Agreement.
ARTICLE IV
Other Agreements
----------------
4.1 No Transfer or Encumbrance. In addition to and notwithstanding
--------------------------
the provisions of Section 1.8 of the Standstill Agreement, WMX and the
Shareholder agree not to transfer, sell, offer, exchange, pledge or otherwise
dispose of or encumber any of the Warrants, Shareholder Shares or New Shares on
or after the date hereof and during the term of this Agreement, except for
tenders in accordance with Section 2.4, unless the transferee agrees in writing
in form satisfactory to the Company and Parent to be bound by the terms of this
Agreement.
4.2 No Additional Purchases or Acquisitions. In addition to and
---------------------------------------
notwithstanding the provisions of Sections 1.1 and 2.4 of the Standstill
Agreement, WMX and the Shareholder agree that they will not purchase or
otherwise acquire beneficial ownership of any Shares or any other capital stock
of the Company after the execution of this Agreement ("New Shares"), nor will
WMX or the Shareholder voluntarily acquire the right to vote or share in the
voting of any Shares or any other capital stock of the Company
-9-
<PAGE>
other than the Shareholder Shares, unless (in either case) WMX or the
Shareholder, as the case may be, agrees to deliver to the Board of Directors of
the Company immediately after such purchase or acquisition an irrevocable proxy
in the form attached hereto as Exhibit A with respect to such New Shares. WMX
and the Shareholder also agree that any New Shares acquired or purchased by them
shall be subject to the terms of this Agreement to the same extent as if they
constituted Shareholder Shares.
4.3 First Amendment to Standstill Agreement. The Standstill
---------------------------------------
Agreement is hereby amended ab initio, as of the execution of this Agreement, to
amend Section 1.4 thereof by adding the following clause to the end of such
Section:
", except the Share Repurchase Agreement, dated as of January 15, 1998,
among OHM Corporation, Waste Management, Inc., Rust International Inc. and
International Technology Corporation, the Amended and Restated Share
Repurchase Agreement, dated as of February 11, 1998, among OHM Corporation,
Waste Management, Inc., Rust International Inc., Rust Remedial Services
Holding Company Inc. and International Technology Corporation and the
Second Amended and Restated Share Repurchase Agreement, dated February 17,
1998, among OHM Corporation, Waste Management, Inc., Rust International
Inc., Rust Remedial Services Holding Company Inc. and International
Technology Corporation."
4.4 Second Amendment to Standstill Agreement. The Standstill
----------------------------------------
Agreement is hereby further amended ab initio, as of the occurrence of the
Repurchase Closing, to delete therefrom Sections 2.1 through 2.7 thereof in
their entirety.
4.5 Third Amendment to Standstill Agreement. The Standstill
---------------------------------------
Agreement is hereby further amended ab initio, as of the Repurchase Closing, to
delete therefrom Sections 3.1, 3.2 and 3.3 thereof in their entirety.
4.6 Release from Intercreditor Agreement. WMX and the Shareholder
------------------------------------
hereby consent to the payment by the Company of a pro rata taxable distribution
--- ----
(the "NSC Distribution") to holders of record of the Shares of all of
-10-
<PAGE>
the shares of common stock, par value $0.01 per share, of NSC Corporation held
by the Company (the "NSC Shares") and waive their rights to reimbursement
pursuant to the Reimbursement Agreement, dated as of May 31, 1995, among the
Company, Remediation and WMX, and the Intercreditor Agreement, dated as of May
31, 1995, among WMX, the Administrative Agent and the Issuing and Paying Agent,
and hereby release the NSC Shares from any security interest (pursuant to pledge
agreements or otherwise) which WMX may have with respect to such NSC Shares. WMX
agrees to execute any documents reasonably necessary to give effect to the
provisions of this Section, promptly upon request therefor made by the Company.
4.7 Termination of the Guaranty Agreement. The parties hereby agree
-------------------------------------
that the Guaranty Agreement, dated as of May 30, 1995, between the Company and
WMX, shall be terminated effective as of the Common Termination Date.
4.8 Cancellation of The Warrants.
----------------------------
(a) The parties hereby agree that the Warrant Agreement shall be
terminated and the Warrants shall be canceled effective as of the date on which
the Guaranty, made as of May 31, 1995, by WMX in favor of the Banks listed
therein (the "Guaranty"), terminates in accordance with Section 10(a) thereof
(such date, the "Common Termination Date"), without the payment of any separate
consideration therefor. The parties hereby agree to use their reasonable best
efforts to cause the events specified in Section 10(a) of the Guaranty to occur
prior to the second business day subsequent to the Effective Time.
(b) WMX agrees not to exercise its rights pursuant to Sections 3.1 or
3.2 of the Warrant Agreement prior to the earlier to occur of (i) the second
business day subsequent to the Effective Time, and (ii) the termination of the
Merger Agreement in accordance with its terms.
(c) WMX agrees not to exercise its rights pursuant to Section 2.2 of
the Warrant Agreement with respect to the Merger Transactions prior to the
second business day subsequent to the Effective Time.
-11-
<PAGE>
(d) WMX hereby waives its rights under Sections 2.1 through 2.7 of the
Warrant Agreement with respect to the NSC Distribution.
ARTICLE V
Miscellaneous
-------------
5.1 Specific Performance. Each party hereto acknowledges that it
--------------------
will be impossible to measure in money the damage to the other party if a party
hereto fails to comply with any of the obligations imposed by this Agreement,
that every such obligation is material and that, in the event of any such
failure, the other party will not have an adequate remedy at law or damages.
Accordingly, each party hereto agrees that injunctive relief or other equitable
remedy, in addition to remedies at law or damages, is the appropriate remedy for
any such failure and will not oppose the granting of such relief on the basis
that the other party has an adequate remedy at law. Each party hereto agrees
that it will not seek, and agrees to waive any requirement for, the securing or
posting of a bond in connection with any other party's seeking or obtaining such
equitable relief.
5.2 Entire Agreement. This Agreement and the Standstill Agreement
----------------
(as herein amended) supersede all prior agreements, written or oral, among the
parties hereto with respect to the subject matter hereof and contains the entire
agreement among the parties with respect to the subject matter hereof. This
Agreement may not be amended, supplemented or modified, and no provisions hereof
may be modified or waived, except by an instrument in writing signed by all the
parties hereto. No waiver of any provisions hereof by any party shall be deemed
a waiver of any other provisions hereof by any such party, nor shall any such
waiver be deemed a continuing waiver of any provision hereof by such party.
5.3 Notices. Any notice, request, instruction or other document to
-------
be given hereunder by any party to the others shall be in writing and delivered
personally or sent by registered or certified mail, postage prepaid, or by
facsimile:
-12-
<PAGE>
if to WMX, the Shareholder or Rust:
----------------------------------
Herbert A. Getz
Waste Management, Inc.
3003 Butterfield Road
Oak Brook, Illinois 60523
Telecopier: (630) 572-9130
with a copy to:
John H. Bitner
Bell, Boyd & Lloyd
Three First National Plaza
70 West Madison Street, Suite 3300
Chicago, Illinois 60602-4207
Telecopier: (312) 372-2098
if to the Company:
-----------------
Steven E. Harbour
OHM Corporation
5445 Triangle Parkway, Suite 400
Norcross, Georgia 30092
Telecopier: (770) 849-3110
with a copy to:
Joseph B. Frumkin
Sullivan & Cromwell
125 Broad Street
New York, New York 10004
Telecopier: (212) 558-3588
and a copy to:
Thomas C. Daniels
Jones Day Reavis & Pogue
North Point
901 Lakeside Avenue
Cleveland, Ohio 44114
Telecopier: (216) 579-0212
-13-
<PAGE>
if to Parent:
------------
James G. Kirk
International Technology Corporation
2790 Mosside Boulevard
Monroeville, PA 15146-2792
Telecopier: (412) 858-3978
with a copy to:
Peter F. Ziegler
Gibson, Dunn & Crutcher LLP
333 South Grand Avenue
Los Angeles, California 90071
Telecopier: (213) 229-7520
or to such other persons or addresses as may be designated in writing by the
party to receive such notice as provided above.
5.4 Miscellaneous.
-------------
(a) This Agreement shall be deemed a contract made under, and for all
purposes shall be construed in accordance with, the laws of the State of Ohio
applicable to agreements executed in and solely to be performed within such
State.
(b) If any provision of this Agreement or the application of such
provision to any person or circumstances shall be held invalid or unenforceable
by a court of competent jurisdiction, such provision or application shall be
unenforceable only to the extent of such invalidity or unenforceability and the
remainder of the provision held invalid or unenforceable and the application of
such provision to persons or circumstances, other than the party as to which it
is held invalid, and the remainder of this Agreement, shall not be affected.
(c) This Agreement may be executed in one or more counterparts, each
of which shall be deemed to be an original but all of which together shall
constitute one and the same instrument.
(d) This Agreement shall terminate automatically upon the termination
of the Merger Agreement. This
-14-
<PAGE>
Agreement may be terminated by the Company at any time if WMX or the Shareholder
shall have failed to comply with any of their respective covenants or agreements
contained in this Agreement. This Agreement may be terminated by WMX or the
Shareholder at any time if the Company shall have failed to comply with any of
its covenants or agreements contained in this Agreement.
(e) Each party hereto shall execute and deliver such additional
documents as may be necessary or desirable to effect the transactions
contemplated by this Agreement.
(f) All Section headings herein are for convenience of reference only
and are not part of this Agreement, and no construction or reference shall be
derived therefrom.
(g) The obligations of the parties set forth in this Agreement shall
not be effective or binding upon any party hereto until after such time as the
Merger Agreement is executed and delivered by the Company, Parent and Merger
Sub, and the parties agree that there is not and has not been any other
agreement, arrangement or understanding between the parties hereto with respect
to the matters set forth herein.
-15-
<PAGE>
IN WITNESS WHEREOF, the parties hereto have executed and delivered
this Agreement as of the date first written above.
OHM CORPORATION
By: /s/ Steven E. Harbour
__________________________
Name: Steven E. Harbour
Title: Vice President, Legal
WASTE MANAGEMENT, INC.
By: /s/ Herbert A. Getz
__________________________
Name: Herbert A. Getz
Title: Senior Vice President
RUST INTERNATIONAL INC.
By: /s/ Herbert A. Getz
__________________________
Name: Herbert A. Getz
Title: Vice President
RUST REMEDIAL SERVICES
HOLDING COMPANY INC.
By: /s/ Dale B. Tauke
__________________________
Name: Dale B. Tauke
Title: Vice President
INTERNATIONAL TECHNOLOGY
CORPORATION
-16-
<PAGE>
By: /s/ James G. Kirk
__________________________
Name: James G. Kirk
Title: Vice President, General Counsel
-17-
<PAGE>
(EXHIBIT A)
FORM OF PROXY
The undersigned, for consideration received, hereby appoints Anthony
J. DeLuca and James G. Kirk and each of them my proxies, with power of
substitution and resubstitution, to vote all shares of Common Stock of OHM
Corporation, an Ohio corporation (the "Company"), [and [insert any other Shares
(as defined in the Second Amended and Restated Share Repurchase Agreement) or
other shares of capital stock of the Company owned by the Shareholder)]] owned
by the undersigned at the Special Meeting of Shareholders of the Company to be
held [insert date, time and place] and at any adjournment thereof IN FAVOR OF
adoption of the Agreement and Plan of Merger, dated as of January 15, 1998 (the
"Merger Agreement"), among the Company, International Technology Corporation
("Parent") and IT-Ohio, Inc., IN FAVOR OF consummation of the Merger
Transactions, IN FAVOR OF [List such number of Parent Representatives (as
defined in Section 1.4 of the Merger Agreement) as Parent is permitted to cause
to be elected to the Company's Board of Directors pursuant to Section 1.4 of the
Merger Agreement], and AGAINST [insert description of any action or agreement
that would compete with, impede, interfere with or attempt to discourage the
Merger Transactions or inhibit the timely consummation of the Merger
Transactions or any action or agreement that would result in a breach in any
material respect of any covenant, representation or warranty or any other
obligation of the Company under the Merger Agreement or any merger,
consolidation, business combination, reorganization, recapitalization,
liquidation or sale or transfer of any material assets of the Company or its
subsidiaries]. This proxy is coupled with an interest, revokes all prior
proxies granted by the undersigned and is irrevocable until such time as the
Second Amended and Restated Share Repurchase Agreement, dated as of February 17,
1998 among the undersigned and the Company terminates in accordance with its
terms.
Dated _________, 1998
RUST REMEDIAL SERVICES HOLDING
COMPANY INC.
By:___________________________
Name:
Title:
-18-
<PAGE>
EXHIBIT (a)(12)
SUPPLEMENT TO THE OFFER TO PURCHASE DATED JANUARY 16, 1998
OFFER TO PURCHASE FOR CASH
13,933,000 SHARES OF COMMON STOCK
OF
OHM CORPORATION
AT
$11.50 NET PER SHARE
BY
IT-OHIO, INC.
A WHOLLY-OWNED SUBSIDIARY
OF
INTERNATIONAL TECHNOLOGY CORPORATION
THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00
MIDNIGHT, NEW YORK CITY TIME, ON TUESDAY, FEBRUARY 24, 1998, UNLESS THE OFFER
IS EXTENDED.
THE OFFER IS CONDITIONED UPON, AMONG OTHER THINGS, THERE BEING VALIDLY
TENDERED BY THE EXPIRATION DATE AND NOT WITHDRAWN AT LEAST 13,933,000 SHARES
OF COMMON STOCK, $0.10 PAR VALUE, OF OHM CORPORATION (THE "COMPANY") (THE
"SHARE NUMBER CONDITION"). THE OFFER IS ALSO SUBJECT TO CERTAIN OTHER
CONDITIONS SET FORTH IN THE OFFER TO PURCHASE DATED JANUARY 16, 1998 OF IT-
OHIO, INC. (THE "OFFER TO PURCHASE"). SEE SECTION 15 OF THE OFFER TO PURCHASE.
THE BOARD OF THE COMPANY HAS UNANIMOUSLY APPROVED THE OFFER AND THE MERGER
AND DETERMINED THAT THE TRANSACTIONS CONTEMPLATED BY THE MERGER AGREEMENT,
INCLUDING WITHOUT LIMITATION THE OFFER AND THE MERGER, ARE FAIR TO, AND IN THE
BEST INTERESTS OF, THE COMPANY AND ITS SHAREHOLDERS. ACCORDINGLY, THE
COMPANY'S BOARD UNANIMOUSLY RECOMMENDS THAT THE COMPANY'S SHAREHOLDERS ACCEPT
THE OFFER AND TENDER THEIR SHARES HEREUNDER.
-----------
IMPORTANT
Any shareholder desiring to tender all or any portion of such shareholder's
Shares should either (1) complete and sign the Letter of Transmittal, or a
facsimile copy thereof, in accordance with the instructions in the Letter of
Transmittal including the required signature guarantees and mail or deliver
the Letter of Transmittal or a facsimile thereof and any other required
documents to the Depositary and either deliver the certificates for such
Shares to the Depositary along with the Letter of Transmittal or tender such
Shares pursuant to the procedure for book-entry transfer set forth in Section
2 of the Offer to Purchase or (2) request such shareholder's broker, dealer,
commercial bank, trust company or other nominee to effect the transaction for
the shareholder. Shareholders having Shares registered in the name of a
broker, dealer, commercial bank, trust company or other nominee must contact
such broker, dealer, commercial bank, trust company or other nominee if they
desire to tender Shares so registered.
A shareholder who desires to tender Shares and whose certificates for Shares
are not immediately available, or who cannot comply with the procedures for
book-entry transfer described in Section 2 of the Offer to Purchase on a
timely basis, may tender such Shares by following the procedure for guaranteed
delivery set forth in Section 2 of the Offer to Purchase.
Questions and requests for assistance, or for additional copies of this
Supplement, the Offer to Purchase, the Letter of Transmittal or other tender
offer materials, may be directed to the Information Agent at its address and
telephone number set forth on the back cover of this Supplement and the Offer
to Purchase. Holders of Shares may also contact brokers, dealers, commercial
banks or trust companies for assistance concerning the Offer or for additional
copies of this Supplement, the Offer to Purchase and the Letter of
Transmittal.
-----------
The Information Agent for the Offer is:
MACKENZIE PARTNERS, INC.
The date of this Supplement to the Offer to Purchase is February 18, 1998
<PAGE>
To the Holders of Common Stock of OHM Corporation:
The following information supplements certain information contained in the
Offer to Purchase, and the information set forth herein supersedes any
contrary statements contained in the Offer to Purchase dated January 16, 1998
of IT-Ohio, Inc. (the "Offer to Purchase"). Except as otherwise set forth in
this Supplement, the terms and conditions of the Offer previously set forth in
the Offer to Purchase remain applicable in all respects. This Supplement
should be read in conjunction with the Offer to Purchase. Capitalized terms
not otherwise defined herein shall have the meanings given to such terms in
the Offer to Purchase.
9. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Section 9 of the Offer to Purchase is supplemented by adding the following
information:
On February 18, 1998, Parent announced that it had modified the terms of the
$240 million Tender Offer Credit Facilities committed to be provided in
connection with the Offer, and of the $425 million Merger Credit Facilities
committed to be provided upon completion of the Merger, by groups of lenders
arranged by the Arrangers, and for whom Citicorp USA, Inc. will be
administrative agent and BankBoston, N.A. will be documentation agent.
The Arrangers have exercised their option to reallocate $50 million from the
revolving credit facility to the term loan included in the $425 million Merger
Credit Facilities. Parent's lenders also agreed that, upon completion of the
Merger, they would permit the Company's 8% convertible subordinated debentures
due 2006 to remain outstanding in an aggregate principal amount of
approximately $47 million. The terms of the financing previously required the
Company's debentures to be redeemed after completion of the Merger. Parent
agreed to reduce the aggregate amount of the term loan included in the $425
million Merger Credit Facilities in an amount equal to the principal amount of
the Company debentures that will remain outstanding. The effect of these
changes is that, after the Merger, the revolving credit facility will be
reduced from $200 million to $150 million and the term loan will be increased
from $225 million to $228 million. Parent also agreed to increase the annual
amortization of the term loan from $2.25 million to $4.5 million. In addition,
Parent will be required by the terms of the Company debentures to make annual
redemptions in an amount equal to approximately $4.3 million.
12. PURPOSE OF THE OFFER AND THE MERGER; PLANS FOR THE COMPANY; THE MERGER
AGREEMENT; THE COMPANY VOTING AGREEMENT; THE PARENT VOTING AGREEMENT; THE
OPTION TERMINATION AGREEMENT; APPRAISAL RIGHTS.
The Introduction and Section 12 of the Offer to Purchase are supplemented by
adding the following information:
The Repurchase Agreement was amended and restated as of February 11, 1998 to
reflect the fact that Rust Remedial Services Holding Company Inc., a Delaware
corporation and majority owned subsidiary of WMX (collectively, with WMX,
referred to as "WMX") is the beneficial owner of 9,668,000 Shares.
Based on preliminary information provided by the Depositary, Parent reported
on February 18, 1998 that as of 6:00 p.m., New York City time, on February 17,
1998, approximately 11,230,200 Shares (including approximately 611,100 Shares
subject to guaranteed delivery) had been tendered pursuant to the Offer.
In light of the preliminary number of Shares tendered in the Offer and in
order to permit the Share Number Condition to be satisfied if the Offer were
otherwise undersubscribed, on February 17, 1998, the terms of the Repurchase
Agreement were further amended and restated. Pursuant to the amended and
restated Repurchase Agreement, WMX is required (i) under all circumstances, to
tender 2,142,141 Shares in the Offer; (ii) to tender up to an additional
2,290,478 Shares in the Offer if requested to do so by Parent and the Company
and to the extent necessary to cause the Share Number Condition to be
satisfied; and (iii) if such additional 2,290,478 Shares have been requested
to be tendered, to tender up to an additional 5,235,381 Shares if requested to
do so by Parent and the Company and to the extent necessary to cause the Share
Number Condition to be
<PAGE>
satisfied. The amended and restated Repurchase Agreement provides that the
Company's obligation to purchase, and WMX's obligation to sell, 5,235,381
Shares to the Company concurrently with the payment for Shares in the Offer
will be reduced on a Share-for-Share basis to the extent the number of Shares
required to be tendered by WMX in the Offer exceeds 4,432,619. The
modifications will permit WMX to receive in the transactions contemplated by
the Merger Agreement more cash for its Shares than under the original terms of
the Repurchase Agreement, but only under circumstances where all other
tendering Company shareholders are assured of having all of their tendered
Shares accepted for payment in the Offer.
Under this revised structure, if WMX is required to tender more than
4,432,619 Shares in the Offer to satisfy the Share Number Condition, the
consideration to be paid in the Merger pursuant to the Merger Agreement will
consist of a combination of shares of Parent Common Stock and cash, the amount
of which will depend upon the number of Shares that are actually purchased in
the Offer from WMX in excess of 4,432,619. For example, if 5,432,619 Shares
were to be purchased in the Offer from WMX, the consideration to be paid in
the Merger would include (i) an aggregate of $11.5 million in cash and (ii)
shares of Parent Common Stock based on a revised exchange ratio of 1.256
shares of Parent Common Stock for each Share, reduced from the exchange ratio
of 1.394-to-one which would be applicable if only 4,432,619 Shares were to be
purchased in the Offer from WMX (based on 28,274,405 Shares outstanding as of
February 17, 1998). See Section 12 of the Offer to Purchase under the caption
"The Merger Agreement--Consideration to be Paid in the Merger."
IT-OHIO, INC.
February 18, 1998
<PAGE>
Manually signed facsimile copies of the Letter of Transmittal will be
accepted. Letters of Transmittal and certificates for Shares should be sent or
delivered by each shareholder of the Company or his broker, dealer, commercial
bank or trust company to the Depositary at one of its addresses set forth
below:
The Depositary for the Offer is:
BANKBOSTON, N.A.
By Mail: By Overnight Courier: By Hand:
Boston EquiServe, L.P. BankBoston, N.A. BankBoston, N.A.
Corporate Reorganization Boston EquiServe, L.P Securities Transfer &
Post Office Box 8029 Corporate Reorganization Reporting Service Inc.
Boston, MA 02266-8029 150 Royall Street 55 Broadway, 3rd Floor
Mail Stop 45-01-40 New York, NY 10006
Canton, MA 02021 Attn: Delivery Window
By Facsimile Transmission: Confirm by Telephone:
(For Eligible Institutions Only) (781) 575-3120
(781) 575-2232
Any questions or requests for assistance may be directed to the Information
Agent at its address and telephone numbers set forth below. Requests for
additional copies of this Supplement, the Offer to Purchase and the Letter of
Transmittal may be directed to the Information Agent, the Dealer Manager or
the Depositary. Shareholders may also contact their brokers, dealers,
commercial banks or trust companies for assistance concerning the Offer.
The Information Agent for the Offer is:
MACKENZIE PARTNERS, INC.
156 Fifth Avenue
New York, New York 10010
(212) 929-5500 (call collect)
or
CALL TOLL-FREE (800) 322-2885
