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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Amendment No. 2
(Final Amendment)
To
SCHEDULE 14D-1
Tender Offer Statement Pursuant to Section 14(d)(1)
of the Securities Exchange Act of 1934
and
Amendment No. 2
(Final Amendment)
To
SCHEDULE 13D
Under the Securities Exchange Act of 1934
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DURAKON INDUSTRIES, INC.
(Name of Subject Company)
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LITTLEJOHN ASSOCIATES, LLC
LITTLEJOHN PARTNERS IV, L.P.
LPIV ACQUISITION CORP.
LPIV, LLC
(Bidders)
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Common Stock, Without Par Value
(Title of Class of Securities)
266334 10 1
(CUSIP Number of Class of Securities)
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Mr. Angus C. Littlejohn, Jr.
Mr. Michael I. Klein
Littlejohn Partners IV, L.P.
115 East Putnam Avenue
Greenwich, Connecticut 06830
(203) 861-4005
(Name, Address And Telephone Number of Persons Authorized to
Receive Notices And Communications on Behalf of Bidders)
copies to:
James D. Epstein, Esq.
Pepper Hamilton LLP
3000 Two Logan Square
Eighteenth and Arch Streets
Philadelphia, Pennsylvania 19103
(215) 981-4000
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June 17, 1999
(Date of Event Which Requires Filing Statement on Schedule 13D)
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1.NAMES OF REPORTING PERSONS
Littlejohn Associates, LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
06-1511492
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2.CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
(a)
[_]
(b)
[X]
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3.SEC USE ONLY
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4.SOURCES OF FUNDS
00 - Member Contributions
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f)
[_]
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6.CITIZEN OR PLACE OF ORGANIZATION
Delaware
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7.AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,995,120 Shares (including 34,922 Shares tendered subject to guarantees
of delivery). (Common Stock)
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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)
98%
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10.TYPE OF REPORTING PERSON
CO
2
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1.NAMES OF REPORTING PERSONS
Littlejohn Partners IV, L.P.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
52-2177030
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2.CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
(a)
[_]
(b)
[X]
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3.SEC USE ONLY
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4.SOURCES OF FUNDS
OO--Partnership Contribution
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f)
[_]
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6.CITIZEN OR PLACE OF ORGANIZATION
Delaware
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7.AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,995,120 Shares (including 34,922 Shares tendered subject to guarantees
of delivery). (Common Stock)
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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)
98%
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10.TYPE OF REPORTING PERSON
HC and PN
3
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1.NAMES OF REPORTING PERSONS
LPIV Acquisition Corp.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
38-3475004
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2.CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
(a)
[_]
(b)
[X]
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3.SEC USE ONLY
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4.SOURCES OF FUNDS
AF
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f)
[_]
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6.CITIZEN OR PLACE OF ORGANIZATION
Michigan
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7.AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,995,120 Shares (including 34,922 Shares tendered subject to guarantees
of delivery). (Common Stock)
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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)
98%
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10.TYPE OF REPORTING PERSON
CO
4
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1.NAMES OF REPORTING PERSONS
LPIV, LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
52-2176785
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2.CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
(a)
[_]
(b)
[X]
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3.SEC USE ONLY
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4.SOURCES OF FUNDS
BK
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f)
[_]
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6.CITIZEN OR PLACE OF ORGANIZATION
Delaware
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7.AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,995,120 Shares (including 34,922 Shares tendered subject to guarantees
of delivery). (Common Stock)
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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)
98%
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10.TYPE OF REPORTING PERSON
CO
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5
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This Amendment No. 2 amends and supplements the combined Schedule 14D-1
Tender Offer Statement and Schedule 13D originally filed with the Securities
and Exchange Commission on June 28, 1999, as amended by Amendment No. 1, dated
July 8, 1999 (collectively, as amended, the "Statement"), by Littlejohn
Partners IV, L.P., a Delaware limited partnership (the "Parent"), Parent's
wholly owned subsidiary, LPIV Acquisition Corp., a Michigan corporation (the
"Purchaser"), and Purchaser's wholly owned subsidiary, LPIV, LLC, a Delaware
limited liability company ("LPIV"), in connection with the offer to purchase
all issued and outstanding shares of common stock, without par value (the
"Shares"), of Durakon Industries, Inc., a Michigan corporation (the
"Company"), at $16.00 per Share (the "Offer Price"), net to the seller in
cash, without interest, upon the terms and subject to the conditions set forth
in the Offer to Purchase and in the related Letter of Transmittal (which,
together with any amendments or supplements thereto, collectively constitute
the "Offer"). Capitalized terms used and not defined herein shall have the
meanings assigned to such terms in the Offer to Purchase and the Statement.
Item 6. Interest in Securities of the Subject Company.
Item 6 of the Statement is hereby amended and supplemented by adding the
following language thereto:
The Offer expired at midnight, New York City time, on Friday, July 23, 1999.
The Purchaser accepted for payment all Shares validly tendered pursuant to the
Offer. The Purchaser has been informed by the Depository that 5,995,120
Shares, representing approximately 98% of the issued and outstanding Shares,
were tendered pursuant to the Offer (including 34,922 Shares subject to
guarantees of delivery).
On July 26, 1999, subject to the terms of the Offer, the Purchaser accepted
for payment all of the Shares validly tendered and not withdrawn prior to the
expiration of the Offer. Following completion of the Offer, there remain
approximately 130,000 Shares outstanding. Any Shares not tendered pursuant to
the Offer were converted into the right to receive $16.00 per Share in cash
upon the filing of a Certificate of Merger with the State of Michigan in
connection with the merger of the Purchaser with and into the Company (the
"Merger"). Payment for the Shares will be made by the Depository. A copy of
the press release issued by Parent on July 26, 1999, announcing the expiration
of the Offer and completion of the Merger is attached hereto as Exhibit (a)(9)
and is incorporated herein by reference.
Item 10. Additional Information.
Item 10 of the Statement is hereby amended and supplemented by adding the
following language thereto:
On July 26, 1999, Parent issued a press release, a copy of which is attached
hereto as Exhibit (a)(9) and is incorporated herein by reference.
Item 11. Material to be Filed as Exhibits.
Item 11 is hereby amended and supplemented by adding by adding the following:
(a)(9) Text of Press Release dated July 26, 1999, issued by Parent.
6
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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.
Dated: July 26, 1999
LITTLEJOHN PARTNERS IV, L.P.
By: Littlejohn Associates, LLC, its
general partner
By: /s/ Michael I. Klein
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Name: Michael I. Klein
Title: Manager
LPIV ACQUISITION CORP.
By: /s/ Michael I. Klein
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Name: Michael I. Klein
Title: President
LPIV, LLC
By: /s/ Michael I. Klein
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Name: Michael I. Klein
Title: Manager
LITTLEJOHN ASSOCIATES, LLC
By: /s/ Michael I. Klein
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Name: Michael I. Klein
Title: Manager
7
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit
Number Exhibit Name
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<C> <S>
(a)(1) Offer to Purchase dated June 25, 1999.
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(a)(2) Letter of Transmittal.
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(a)(3) Notice of Guaranteed Delivery.
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(a)(4) Letter to Brokers, Dealers, Commercial Banks, Trust Companies and
Other Nominees.
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(a)(5) Letter to Clients for use by Brokers, Dealers, Commercial Banks,
Trust Companies and Other Nominees.
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(a)(6) Guidelines for Certification of Taxpayer Identification Number on
Substitute Form W-9.
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(a)(7) Form of Summary Advertisement dated June 25, 1999.
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(a)(8) Text of Press Release dated June 18, 1999 issued by the Company.
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(a)(9) Text of Press Release dated July 26, 1999 issued by Parent.*
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(b)(1) Commitment Letter, dated June 14, 1999, from BankBoston, N.A. and
BancBoston Robertson Stephens Inc. to LPIV Acquisition Corp.
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(c)(1) Agreement and Plan of Merger dated as of June 17, 1999 among the
Parent, the Purchaser and the Company.
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(c)(2) Confidentiality Agreement, dated February 5, 1999, between Littlejohn
& Co., LLC, an affiliate of the Parent, and the Company, and
countersigned by Littlejohn & Co., LLC on February 8, 1999.
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(c)(3) Stock Tender and Voting Agreement with David Aronow
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(c)(4) Stock Tender and Voting Agreement with Phillip Wm. Fisher
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(c)(5) Stock Tender and Voting Agreement with Richard J. Jacob
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(c)(6) Stock Tender and Voting Agreement with Robert M. Teeter
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(c)(7) Stock Tender and Voting Agreement with David W. Wright
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(c)(8) Stock Tender and Voting Agreement with Max M. Fisher Revocable Trust,
u/a/d August 13, 1988
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(c)(9) Stock Tender and Voting Agreement with Martinique Charitable
Remainder Unitrust
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(c)(10) Stock Tender and Voting Agreement with Wolverine Investors
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(c)(11) Stock Tender and Voting Agreement with 1990 Bronx Trust #1
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(c)(12) Stock Tender and Voting Agreement with 1990 Des Moines Trust #1
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(d) None.
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(e) Not applicable.
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(f) None.
</TABLE>
* Filed with this Amendment No. 2.
All Other Exhibits Previously Filed
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LPIV ACQUISITION CORP. COMPLETES TENDER OFFER
FOR ALL OUTSTANDING SHARES OF DURAKON INDUSTRIES, INC.
Lapeer, Michigan (July 26, 1999) - - Durakon Industries, Inc. (Nasdaq:
"DRKN") and LPIV Acquisition Corp., a wholly owned subsidiary of Littlejohn
Partners IV, L.P., announced today that LPIV Acquisition Corp. has completed its
tender offer for all of the issued and outstanding shares of common stock of
Durakon Industries, Inc. for $16.00, net to the seller in cash. The tender offer
expired at 12:00 Midnight, New York City time, on Friday, July 23, 1999, and
LPIV Acquisition Corp. will accept for payment and promptly pay for all shares
properly tendered and not withdrawn pursuant to the offer.
Based on a preliminary count by the depository for the offer,
approximately 5,995,120 shares were tendered, representing approximately 98% of
the outstanding Durakon Industries, Inc. shares(including approximately 34,922
shares subject to guarantees of delivery).
In accordance with the short-form merger provisions of the Michigan
Business Corporation Act, LPIV Acquisition Corp. intends to promptly merge with
and into Durakon Industries, Inc., which will be the surviving corporation and
become a wholly owned subsidiary of Littlejohn Partners IV, L.P. As a result of
the merger, the remaining outstanding shares will be converted into the right to
receive $16.00 in cash, without interest.
Littlejohn & Co. LLC is a private investment fund located in
Greenwich, Connecticut. Durakon Industries Inc. is the world's leading producer
and marketer of pickup truck bedliners, and is a leader in the production and
marketing of rollback car carriers and wheel-lift towing vehicles. Durakon's
world headquarters and a major manufacturing facility are in Lapeer, Michigan.
Other manufacturing plants are in Greencastle, Pennsylvania; Clinton, Tennessee;
and Lerma, Mexico. Prior to the merger, Durakon's common stock was traded on the
Nasdaq Stock Market under the ticker symbol DRKN.
For more information contact: Jim Smith, Corporate Controller of
Durakon Industries, Inc., 810-664-0850. At Littlejohn, contact Michael I. Klein,
203-861-4005.