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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
SYBRON CHEMICALS INC.
(NAME OF ISSUER)
COMMON STOCK, PAR VALUE $.01 PER SHARE
(TITLE OF CLASS OF SECURITIES)
870903 10 1
(CUSIP NUMBER)
BRUCE A. MACKINTOSH, ESQ.
BAYER CORPORATION
100 BAYER ROAD
PITTSBURGH, PA 15205-9741
(412) 777-2000
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
WITH A COPY TO:
DANIEL P. CUNNINGHAM, ESQ.
CRAVATH, SWAINE & MOORE
WORLDWIDE PLAZA
825 EIGHTH AVENUE
NEW YORK, NY 10019
(212) 474-1000
AUGUST 30, 2000
(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box. [ ]
NOTE: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 240.13d-7 for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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<TABLE>
<S> <C> <C>
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CUSIP No. 870903101
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</TABLE>
<TABLE>
<C> <S> <C> <C>
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Names of Reporting Persons
1 I.R.S. Identification Nos. of Above Persons (entities only)
PROJECT TOLEDO ACQUISITION CORP.
----------------------------------------------------------------------------------------------------------
Check the Appropriate Box if a Member of a Group (See Instructions) (a)[ ]
2 (b)[ ]
----------------------------------------------------------------------------------------------------------
SEC Use Only
3
----------------------------------------------------------------------------------------------------------
Source of Funds (See Instructions)
4
AF*
----------------------------------------------------------------------------------------------------------
Check if Disclosure of Legal Proceedings is Required
5 Pursuant to Items 2(d) or 2(e) [ ]
----------------------------------------------------------------------------------------------------------
Citizenship or Place of Organization
6 Delaware
----------------------------------------------------------------------------------------------------------
Sole Voting Power
Number of
Shares
Beneficially
Owned by Each
Reporting
Person with
7
0
-----------------------------------------------------------------
Shared Voting Power
8
2,565,644*
-----------------------------------------------------------------
Sole Dispositive Power
9
0
-----------------------------------------------------------------
Shared Dispositive Power
10
2,565,644*
----------------------------------------------------------------------------------------------------------
Aggregate Amount Beneficially Owned by Each Reporting Person
11
2,565,644*
----------------------------------------------------------------------------------------------------------
Check Box if the Aggregate Amount in Row (11) Excludes [ ]
12 Certain Shares (See Instructions)
----------------------------------------------------------------------------------------------------------
Percent of Class Represented
by Amount in Row (11)
13
Approximately 45% of the Common Stock outstanding as of August 30, 2000*
----------------------------------------------------------------------------------------------------------
Type of Reporting Person (See Instructions)
14
CO
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</TABLE>
* See Note on page 4.
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<TABLE>
<S> <C> <C>
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CUSIP No. 870903101
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</TABLE>
<TABLE>
<C> <S> <C> <C>
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Names of Reporting Persons
1 I.R.S. Identification Nos. of Above Persons (entities only)
BAYER CORPORATION
----------------------------------------------------------------------------------------------------------
Check the Appropriate Box if a Member of a Group (See Instructions) (a)[ ]
2 (b)[ ]
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SEC Use Only
3
----------------------------------------------------------------------------------------------------------
Source of Funds (See Instructions)
4
AF, WC, OO*
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Check if Disclosure of Legal Proceedings is Required
5 Pursuant to Items 2(d) or 2(e) [ ]
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Citizenship or Place of Organization
6
Indiana
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Sole Voting Power
Number of
Shares
Beneficially
Owned by Each
Reporting
Person with
7
0
-----------------------------------------------------------------
Shared Voting Power
8
2,565,644*
-----------------------------------------------------------------
Sole Dispositive Power
9
0
-----------------------------------------------------------------
Shared Dispositive Power
10
2,565,644*
----------------------------------------------------------------------------------------------------------
Aggregate Amount Beneficially Owned by Each Reporting Person
11
2,565,644*
----------------------------------------------------------------------------------------------------------
Check Box if the Aggregate Amount in Row (11) Excludes [ ]
12 Certain Shares (See Instructions)
----------------------------------------------------------------------------------------------------------
Percent of Class Represented
by Amount in Row (11)
13
Approximately 45% of the Common Stock outstanding as of August 30, 2000*
----------------------------------------------------------------------------------------------------------
Type of Reporting Person (See Instructions)
14
CO
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</TABLE>
* See Note on the following page.
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<TABLE>
<S> <C> <C>
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CUSIP No. 870903101
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</TABLE>
<TABLE>
<C> <S> <C> <C>
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Names of Reporting Persons
1 I.R.S. Identification Nos. of Above Persons (entities only)
BAYER AKTIENGESELLSCHAFT
----------------------------------------------------------------------------------------------------------
Check the Appropriate Box if a Member of a Group (See Instructions) (a)[ ]
2 (b)[ ]
----------------------------------------------------------------------------------------------------------
SEC Use Only
3
----------------------------------------------------------------------------------------------------------
Source of Funds (See Instructions)
4
WC, OO
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Check if Disclosure of Legal Proceedings is Required
5 Pursuant to Items 2(d) or 2(e) [ ]
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Citizenship or Place of Organization
6 Germany
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Sole Voting Power
Number of
Shares
Beneficially
Owned by Each
Reporting
Person with
7
0
-----------------------------------------------------------------
Shared Voting Power
8
2,565,644*
-----------------------------------------------------------------
Sole Dispositive Power
9
0
-----------------------------------------------------------------
Shared Dispositive Power
10
2,565,644*
----------------------------------------------------------------------------------------------------------
Aggregate Amount Beneficially Owned by Each Reporting Person
11
2,565,644*
----------------------------------------------------------------------------------------------------------
Check Box if the Aggregate Amount in Row (11) Excludes [ ]
12 Certain Shares (See Instructions)
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Percent of Class Represented
by Amount in Row (11)
13
Approximately 45% of the Common Stock outstanding as of August 30, 2000*
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Type of Reporting Person (See Instructions)
14
CO, HC
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</TABLE>
* On August 30, 2000, Bayer Corporation, an Indiana corporation ("Parent"), and
Project Toledo Acquisition Corp., a Delaware corporation and a wholly owned
subsidiary of Parent ("Purchaser"), entered into a Stockholder Agreement (the
"Stockholder Agreement") with 399 Venture Partners, Inc. ("399 Venture"),
Richard M. Klein ("Klein") and John H. Schroeder ("Schroeder" and, together
with 399 Venture and Klein, the "Principal Stockholders"), pursuant to which
each Principal Stockholder has agreed, among other things, in connection with
the Offer (as defined in the Offer to Purchase (as defined below)) to tender
all such Principal Stockholder's shares of Common Stock of the Company (as
defined below) at a price of $35.00 per share in cash or such greater amount
as shall be equal to the highest price per Share (as defined in the Offer to
Purchase) paid pursuant to the Offer. Under the Stockholder Agreement, each
Principal Stockholder has granted to certain individuals designated by Parent
a proxy with respect to the Shares subject to the Stockholder Agreement to
vote such Shares under certain circumstances. The Purchaser's right to
purchase through the Offer and vote the Shares subject to the Stockholder
Agreement is reflected in Rows 8 and 10 of each of the tables above. A copy of
such Stockholder Agreement is attached hereto as Exhibit (2)(c) and is
described more fully in Section 12 of the Offer to Purchase dated September 8,
2000 (the "Offer to Purchase"), attached hereto as Exhibit (2)(a).
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ITEM 1. SECURITY AND ISSUER
This Schedule 13D relates to the Common Stock, par value $.01 per share of
Sybron Chemicals Inc., a Delaware corporation (the "Company"). The address of
the Company's principal executive office is Birmingham Road, P.O. Box 66,
Birmingham, NJ 08011.
ITEM 2. IDENTITY AND BACKGROUND
(a)-(c) and (f) This Schedule 13D is being filed by Purchaser, a wholly
owned subsidiary of Parent, which is a wholly owned subsidiary of Bayer
Aktiengesellschaft, a corporation organized under the laws of the Federal
Republic of Germany ("Bayer AG"). Information concerning the principal business
and the address of the principal offices of Purchaser, Parent and Bayer AG is
set forth in Section 9 ("Certain Information Concerning the Purchaser, Parent
and Bayer AG") of the Offer to Purchase and is incorporated herein by reference
to the Offer to Purchase, a copy of which is attached hereto as Exhibit (2)(a).
The name, citizenship, business address, present principal occupation or
employment and five-year employment history of each of the directors and
executive officers of Purchaser, Parent and Bayer AG is set forth in Schedule I
to the Offer to Purchase and is incorporated herein by reference.
(d) and (e) During the last five years, none of Purchaser, Parent or Bayer
AG or, to the best knowledge of Purchaser, Parent or Bayer AG, any of their
respective executive officers or directors, has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors), nor has any
of them been a party to a civil proceeding of a judicial or administrative body
of competent jurisdiction and as a result of such proceeding was or is subject
to a judgment, decree or final order enjoining future violations of, or
prohibiting activities subject to, federal or state securities laws or finding
any violation of such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The information set forth in Section 10 ("Source and Amount of Funds") of
the Offer to Purchase is incorporated herein by reference.
ITEM 4. PURPOSE OF THE TRANSACTION
(a)-(g) and (j) The information set forth in Section 12 ("Purpose of the
Offer; the Merger Agreement; the Stockholder Agreement; Plans for the Company;
Other Agreements") of the Offer to Purchase is incorporated herein by reference.
(h) and (i) The information set forth in Section 7 ("Effect of the Offer on
the Market for the Shares; AMEX Listing; Exchange Act Registration; Margin
Regulations") of the Offer to Purchase is incorporated herein by reference.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a)-(c) The information set forth in "Introduction" and Section 12
("Purpose of the Offer; the Merger Agreement; the Stockholder Agreement; Plans
for the Company; Other Agreements") of the Offer to Purchase is incorporated
herein by reference.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
The information set forth in "Introduction", Section 9 ("Certain
Information Concerning the Purchaser, Parent and Bayer AG") and Section 12
("Purpose of the Offer; the Merger Agreement; the Stockholder Agreement; Plans
for the Company; Other Agreements") of the Offer to Purchase is incorporated
herein by reference.
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<PAGE> 6
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS
(2)(a) Offer to Purchase dated September 8, 2000.
(2)(b) Agreement and Plan of Merger dated as of August 30, 2000, among the
Company, Parent and the Purchaser.
(2)(c) Stockholder Agreement dated as of August 30, 2000, among Parent,
Purchaser, 399 Venture Partners, Inc., Richard M. Klein and John T.
Schroeder.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: September 8, 2000
PROJECT TOLEDO ACQUISITION CORP.,
By: /s/ JOHN L. WILLIAMS
------------------------------------
Name: Dr. John L. Williams
Title: President
BAYER CORPORATION,
By: /s/ E. L. FOOTE, JR.
------------------------------------
Name: E. L. Foote, Jr.
Title: Executive Vice President
BAYER AKTIENGESELLSCHAFT,
By: /s/ ROLAND HARTWIG
------------------------------------
Name: Dr. Roland Hartwig
Title: General Counsel
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EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT NO. DOCUMENT
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<C> <S>
(2)(a) Offer to Purchase dated September 8, 2000.
(2)(b) Agreement and Plan of Merger dated as of August 30, 2000,
among the Company, Parent and the Purchaser.
(2)(c) Stockholder Agreement dated as of August 30, 2000, among
Parent, Purchaser, 399 Venture Partners, Inc., Richard M.
Klein and John T. Schroeder.
</TABLE>
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