---------------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
---------------------------------------
SCHEDULE 14D-1
Tender Offer Statement
Pursuant to Section 14(d)(1) of the Securities Exchange Act of 1934
(Amendment No. 4*)
TPC CORPORATION
(Name of Subject Company)
POWER ACQUISITION COMPANY
PACIFICORP HOLDINGS, INC.
(Bidders)
Class A Common Stock, $.01 par value, and
Class B Common Stock, $.01 par value
(Title of Class of Securities)
872616107
(CUSIP Number of Class A Common Stock)
Richard T. O'Brien
PacifiCorp Holdings, Inc.
Port of Portland Building, Suite 1600
700 NE Multnomah
Portland, Oregon 97232
(503) 731-2000
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Bidder)
Copy to:
Stuart W. Chestler
Stoel Rives LLP
900 SW Fifth Avenue, Suite 2300
Portland, Oregon 97204-1268
(503) 294-9500
*Constituting the final amendment to Schedule 14D-1.
<PAGE>
14D-1
- --------------------------------------------------------------------------------
1. Name of reporting person
Power Acquisition Company
- --------------------------------------------------------------------------------
2. Check the appropriate box if a member of a group (a) ___
(b) ___
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Sources of Funds
AF
- --------------------------------------------------------------------------------
5. Check box if disclosure of legal proceedings is required pursuant
to Items 2(e) OR 2(f) ___
- --------------------------------------------------------------------------------
6. Citizenship or place of organization
Delaware
- --------------------------------------------------------------------------------
7. Aggregate amount beneficially owned by each reporting person
17,319,461.7313 Shares of Class A Common Stock
579,963 Shares of Class B Common Stock
- --------------------------------------------------------------------------------
8. Check box if the aggregate amount in row (7) excludes certain shares.
___
- --------------------------------------------------------------------------------
9. Percent of class represented by amount in row (7)
99.4% of the Outstanding Shares of Class A Common Stock
100% of the Outstanding Shares of Class B Common Stock
- --------------------------------------------------------------------------------
10. Type of reporting person
CO
- --------------------------------------------------------------------------------
2
<PAGE>
14D-1
- --------------------------------------------------------------------------------
1. Name of reporting person
PacifiCorp Holdings, Inc.
- --------------------------------------------------------------------------------
2. Check the appropriate box if a member of a group (a) ___
(b) ___
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Sources of Funds
BK, WC, OO
- --------------------------------------------------------------------------------
5. Check box if disclosure of legal proceedings is required pursuant
to Items 2(e) OR 2(f) ___
- --------------------------------------------------------------------------------
6. Citizenship or place of organization
Delaware
- --------------------------------------------------------------------------------
7. Aggregate amount beneficially owned by each reporting person
17,319,461.7313 Shares of Class A Common Stock
579,963 Shares of Class B Common Stock
- --------------------------------------------------------------------------------
8. Check box if the aggregate amount in row (7) excludes certain shares.
___
- --------------------------------------------------------------------------------
9. Percent of class represented by amount in row (7)
99.4% of the Outstanding Shares of Class A Common Stock
100% of the Outstanding Shares of Class B Common Stock
- --------------------------------------------------------------------------------
10. Type of reporting person
CO
- --------------------------------------------------------------------------------
3
<PAGE>
Power Acquisition Company and PacifiCorp Holdings, Inc. hereby amend and
supplement their Tender Offer Statement on Schedule 14D-1 (the "Statement"),
originally filed on March 18, 1997, as amended by Amendments No. 1, 2 and 3,
with respect to their offer to purchase all outstanding shares of Class A Common
Stock, par value $.01 per share, and Class B Common Stock, par value $.01 per
share, of TPC Corporation, a Delaware corporation (the "Company"), as set forth
in this Amendment No. 4. Capitalized terms not defined herein have the meanings
assigned thereto in the Statement.
Item 6. Interest in Securities of the Subject Company.
(a) On April 14, 1997, Power Acquisition Company accepted for payment a
total of 17,319,461.7313 shares of TPC Class A Common Stock and 579,963 shares
of TPC Class B Common Stock. On April 15, 1997, PacifiCorp Holdings, Inc. issued
a press release, a copy of which is attached hereto as Exhibit (a)(11) and is
incorporated herein by reference.
Item 10. Additional Information.
(f) The Offer terminated at 12:00 Midnight, Eastern Daylight time, on
Monday, April 14, 1997. On April 15, 1997, PacifiCorp Holdings, Inc. issued a
press release, a copy of which is attached hereto as Exhibit (a)(11) and is
incorporated herein by reference.
Item 11. Material to Be Filed as Exhibits.
(a)(11) Press Release, dated April 15, 1997.
4
<PAGE>
SIGNATURES
After due inquiry and to the best of their knowledge and belief, each of
the undersigned certifies that the information set forth in this Statement is
true, complete and correct.
Dated: April 15, 1997
POWER ACQUISITION COMPANY
By JOHN A. BOHLING
-------------------------------------------
Print Name John A. Bohling
Title Vice President
PACIFICORP HOLDINGS, INC.
By RICHARD T. O'BRIEN
-------------------------------------------
Print Name Richard T. O'Brien
Title Senior Vice President
and Chief Financial Officer
5
Exhibit (a)(11)
Angela Hult, investor inquiries (503) 731-2192
Dave Kvamme, media inquiries (503) 464-6272
PACIFICORP COMPLETES ACQUISITION OF TPC CORPORATION
PacifiCorp (NYSE:PPW) announced today that its wholly-owned subsidiary,
PacifiCorp Holdings, Inc. (PHI), completed the acquisition of Houston-based TPC
Corporation.
PacifiCorp announced the proposed acquisition of TPC on March 12, 1997, and on
March 18 commenced a cash tender offer to purchase all outstanding shares of TPC
common stock for $13.41 per share. At the expiration of the tender offer on
April 14, a total of 17,899,424 shares of TPC common stock, representing 99.4
percent of the shares outstanding, had been tendered. All tendered shares were
accepted for payment. The acquisition has now been completed through the merger
of PHI's acquiring subsidiary with and into TPC. As a result of the merger, all
remaining outstanding shares of TPC common stock have been converted into the
right to receive the same $13.41 per share paid in the tender offer.
TPC built a business of gas gathering systems in and near the Gulf of Mexico
with related processing facilities, and in salt dome storage projects at the
Moss Bluff market hub in Texas and the Egan market hub in Louisiana. Its other
core business is natural gas marketing to utilities in the Midwest and
Northeast.
PacifiCorp, based in Portland, Oregon serves 1.4 million retail customers in the
west and 550,000 retail customers in Australia. It conducts wholesale power
transactions with more than 100 utilities in North America, and is the highest
volume investor-owned wholesaler of energy west of the Mississippi River.
###
