SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 11
TO
SCHEDULE 13E-3
RULE 13E-3 TRANSACTION STATEMENT
(PURSUANT TO SECTION 13(e) OF THE SECURITIES EXCHANGE ACT OF 1934)
GLEASON CORPORATION
(Name of Issuer)
GLEASON CORPORATION
TORQUE ACQUISITION CO., L.L.C.
TORQUE MERGER SUB, INC.
JAMES S. GLEASON EDWARD J. PELTA
DAVID J. BURNS JOHN W. PYSNACK
JOHN J. PERROTTI GARY J. KIMMET
JOHN J. PERROTTI AS CUSTODIAN FOR JOHN J.RPERROTTI AS CUSTODIAN FOR
JASON PERROTTI UNDER THE CHRISTINE J. PERROTTI UNDER THE
NEW YORK UNIFORM GIFT TO MINORS ACT NEW YORK UNIFORM GIFT TO MINORS ACT
(Name of Person(s) Filing Statement)
COMMON STOCK, PAR VALUE $1.00 PER SHARE
(Title of Class of Securities)
377339 10 6
(CUSIP Number of Class of Securities)
-----------
EDWARD J. PELTA, ESQ.
VICE PRESIDENT, GENERAL COUNSEL AND SECRETARY
GLEASON CORPORATION
1000 UNIVERSITY AVENUE
P.O. BOX 22970
ROCHESTER, NEW YORK 14692
TELEPHONE: (716) 473-1000
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications on Behalf of Person(s) Filing Statement)
COPY TO: AND TO:
Blaine V. Fogg, Esq. David L. Finkelman, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP Stroock & Stroock & Lavan LLP
919 Third Avenue 180 Maiden Lane
New York, New York 10022 New York, New York 10038
Telephone: (212) 735-3000 Telephone:(212) 806-5400
THIS TRANSACTION HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION NOR HAS THE COMMISSION PASSED UPON THE FAIRNESS OR
MERITS OF SUCH TRANSACTION NOR UPON THE ACCURACY OR ADEQUACY OF THE
INFORMATION CONTAINED IN THIS DOCUMENT. ANY REPRESENTATION TO THE
CONTRARY IS UNLAWFUL.
This statement is filed in connection with (check the appropriate box):
a. |_| The filing of solicitation materials or an information statement
subject to Regulation 14A, Regulation 14C, or Rule 13e-3(c) under
the Securities Exchange Act of 1934.
b. |_| The filing of a registration statement under the Securities Act of
1933.
c. |X| A tender offer.
d. |_| None of the above.
Check the following box if the soliciting materials or information
statement referred to in checking box (a) are preliminary copies. |_|
CALCULATION OF FILING FEE:
TRANSACTION VALUATION Amount of Filing Fee*
$193,509,856 $38,702
* Estimated for purposes of calculating the amount of the filing fee only.
The amount assumes the purchase of 8,413,472 shares of common stock, par
value $1.00 per share (the "Shares"), of Gleason Corporation, a Delaware
corporation (the "Company"), at a price of $23.00 per Share in cash. As of
November 30, 1999, there were 9,589,195 Shares issued and outstanding.
Certain stockholders of the Company, owning in the aggregate (1) 1,458,983
Shares and (2) 472,322 unexercised options to acquire Shares under various
employee stock option plans of the Company as of November 30, 1999, have
agreed not to tender their Shares (which in the aggregate total 1,931,305
Shares, including Shares underlying options) pursuant to the Offer. Based
on the foregoing, the maximum number of Shares available to be tendered
pursuant to the Offer is 8,413,472 Shares, which is equal to the number of
Shares outstanding on a fully diluted basis as of November 30, 1999 less
the aggregate number of Shares and options to acquire Shares owned by the
non-tendering stockholders. The amount of the filing fee calculated in
accordance with Rule 0-11 of the Securities Exchange Act of 1934, as
amended, equals 1/50th of one percent of the value of the transaction.
|_| Check box if any part of the fee is offset as provided by Rule
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.
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Amount previously paid: $38,702 Filing party: Torque Acquisition Co., L.L.C.
Form or registration no.: Schedule 14D-1 Date filed: December 15, 1999
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INTRODUCTION
This Amendment No. 11 to the Rule 13e-3 Transaction Statement
on Schedule 13E-3 amends and supplements the Rule 13e-3 Transaction
Statement on Schedule 13E-3 (the "Schedule 13E-3") originally filed on
December 15, 1999 by Gleason Corporation, a Delaware corporation (the
"Company"), the issuer of the equity securities which are the subject of a
Rule 13e-3 transaction, Torque Acquisition Co., L.L.C., a Delaware limited
liability company and wholly owned subsidiary of Vestar Capital Partners
IV, L.P. ("Acquisition Company"), Torque Merger Sub, Inc., a Delaware
corporation and wholly owned subsidiary of Acquisition Company ("Merger
Subsidiary"), and certain stockholders of the Company in connection with a
joint offer by the Company and Acquisition Company (the "Offer") to
purchase all of the outstanding shares of common stock, par value $1.00 per
share, of the Company (the "Common Stock"), together with the associated
preferred share purchase rights (the "Rights" and, together with the Common
Stock, the "Shares"), at a purchase price of $23.00 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 December 15, 1999, the
supplement thereto, dated February 4, 2000, and the related Letter of
Transmittal. Capitalized terms used but not defined herein shall have the
meanings assigned to them in the Schedule 14D-1. The Company, Acquisition
Company, Merger Subsidiary, James S. Gleason, David J. Burns, John J.
Perrotti, John J. Perrotti as Custodian for Jason Perrotti under the New
York Uniform Gift to Minors Act, John J. Perrotti as Custodian for
Christine J. Perrotti under the New York Uniform Gift to Minors Act, Edward
J. Pelta, John W. Pysnack and Gary J. Kimmet hereby amend and supplement
the Schedule 13E-3 as follows:
ITEM 7. CONTRACTS, ARRANGEMENTS OR UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO THE SUBJECT COMPANY'S SECURITIES.
In accordance with the Foundation Agreement, pursuant to a
letter dated February 23, 2000, the Foundation elected to have 485,000 of
its Remaining Shares converted in the Merger into the right to receive the
Series A Preferred/Warrant Consideration and to have the rest of its
Remaining Shares converted in the Merger into the right to receive the
Merger Consideration.
ITEM 17. MATERIAL TO BE FILED AS EXHIBITS.
Item 17 is hereby amended and supplemented by the addition of
the following exhibits thereto:
(a)(5) Credit Agreement, dated as of February 17, 2000, among Gleason
Corporation, The Gleason Works, Gleason Germany (Holdings)
GmbH, Gleason Works (Holdings) Limited, Gleason International
Marketing Corporation, Various Banks, Bankers Trust Company, as
Administrative Agent, Lead Arranger and Book Manager, and The
Bank of Nova Scotia, as Syndication Agent (attached as Exhibit
99.1 to the Form 8-K of Gleason Corporation filed on February
23, 2000, and incorporated herein by reference).
(a)(6) Credit Agreement, dated as of February 17, 2000, among Torque
Acquisition Co., L.L.C., Torque Merger Sub, Inc., Various
Banks, Bankers Trust Company, as Administrative Agent, Lead
Arranger and Book Manager, and The Bank of Nova Scotia, as
Syndication Agent (attached as Exhibit 99.2 to the Form 8-K of
Gleason Corporation filed on February 23, 2000, and
incorporated herein by reference).
SIGNATURE
After due inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Dated: February 24, 2000
GLEASON CORPORATION
By: /s/ Edward J. Pelta
------------------------------
Name: Edward J. Pelta
Title: Vice President, General Counsel
and Secretary
/s/ James S. Gleason
-------------------------------------
James S. Gleason
/s/ David J. Burns
-------------------------------------
David J. Burns
/s/ John J. Perrotti
-------------------------------------
John J. Perrotti
/s/ John J. Perrotti
-------------------------------------
John J. Perrotti,
as Custodian for Jason Perrotti
under the New York Uniform Gift to
Minors Act
/s/ John J. Perrotti
-------------------------------------
John J. Perrotti,
as Custodian for Christine J. Perrotti
under the New York Uniform Gift to
Minors Act
/s/ Edward J. Pelta
-------------------------------------
Edward J. Pelta
/s/ John W. Pysnack
-------------------------------------
John W. Pysnack
/s/ Gary J. Kimmet
-------------------------------------
Gary J. Kimmet
TORQUE ACQUISITION CO., L.L.C.
By: /s/ Sander M. Levy
Name: Sander M. Levy
Title: President
TORQUE MERGER SUB, INC.
By: /s/ Sander M. Levy
Name: Sander M. Levy
Title: President
EXHIBIT INDEX
Exhibit No.Description
(a)(5) Credit Agreement, dated as of February 17, 2000, among Gleason
Corporation, The Gleason Works, Gleason Germany (Holdings) GmbH,
Gleason Works (Holdings) Limited, Gleason International
Marketing Corporation, Various Banks, Bankers Trust Company, as
Administrative Agent, Lead Arranger and Book Manager, and The
Bank of Nova Scotia, as Syndication Agent (attached as Exhibit
99.1 to the Form 8-K of Gleason Corporation filed on February
23, 2000, and incorporated herein by reference).
(a)(6) Credit Agreement, dated as of February 17, 2000, among Torque
Acquisition Co., L.L.C., Torque Merger Sub, Inc., Various
Banks, Bankers Trust Company, as Administrative Agent, Lead
Arranger and Book Manager, and The Bank of Nova Scotia, as
Syndication Agent (attached as Exhibit 99.2 to the Form 8-K of
Gleason Corporation filed on February 23, 2000, and
incorporated herein by reference).
