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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(D)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 15)
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GLOBAL INDUSTRIAL TECHNOLOGIES, INC.
(Name of Subject Company)
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HEAT ACQUISITION CORP.
AND
RHI AG
(Bidders)
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COMMON STOCK, PAR VALUE $0.25 PER SHARE
(Title of Class of Securities)
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379335102
(CUSIP Number of Class of Securities)
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DR. GEORG OBERMEIER
CHIEF EXECUTIVE OFFICER
RHI AG
MOMMSENGASSE 35
A-1040 VIENNA, AUSTRIA
43-1-50213-123
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Bidders)
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COPIES TO:
ROBERT A. PROFUSEK, ESQ.
JONES, DAY, REAVIS & POGUE
599 LEXINGTON AVENUE
NEW YORK, NEW YORK 10022
(212) 326-3939
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This Amendment No. 15 amends the Tender Offer Statement on Schedule 14D-1,
as amended (the "Statement"), filed by RHI AG, an Austrian stock corporation
("Parent"), and Heat Acquisition Corp., a Delaware corporation and an indirect,
wholly owned subsidiary of Parent ("Purchaser"), relating to the offer by
Purchaser to purchase all of the outstanding shares of common stock, par value
$0.25 per share (together with the associated preferred share purchase rights
issued pursuant to the Rights Agreement, dated October 31, 1995, as amended,
between Global Industrial Technologies, Inc., a Delaware corporation ("the
Company"), and The Bank of New York, the "Shares"), of the Company at a purchase
price of $13.00 per Share, net to the seller in cash.
Except as otherwise indicated herein, the information set forth in the
Statement remains unchanged, and each capitalized term used herein and not
defined herein has the meaning ascribed to such term in the Statement.
ITEM 10. ADDITIONAL INFORMATION.
The information set forth in Item 10(f) is hereby amended and supplemented
as follows:
In a December 23, 1999 press release, Parent announced the extension
of the Expiration Date. The Offer is hereby amended so that the
Expiration Date is 5:00 p.m., New York City Time, on Tuesday,
December 28, 1999.
The full text of Parent's December 23, 1999 press release is set
forth in Exhibit (a)(23) hereto and is incorporated herein by reference.
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ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
<TABLE>
<S> <C>
*(a)(1) Offer To Purchase, dated July 16, 1999
*(a)(2) Letter of Transmittal
*(a)(3) Notice of Guaranteed Delivery
*(a)(4) Form of Letter to Brokers, Dealers, Commercial Banks, Trust
Companies and Other Nominees
*(a)(5) Form of Letter to Clients for use by Brokers, Dealers,
Commercial Banks, Trust Companies and Other Nominees
*(a)(6) Guidelines for Certification of Taxpayer Identification
Number on Substitute Form W-9
*(a)(7) Form of Summary Advertisement, dated July 19, 1999
*(a)(8) Text of Joint Press Release of Parent and the Company, dated
July 12, 1999
*(a)(9) Text of Press Release of Parent, dated August 4, 1999
*(a)(10) Text of Press Release of Parent, dated August 6, 1999
*(a)(11) Text of Press Release of Parent, dated September 29, 1999
*(a)(12) Text of Press Release of Parent, dated October 14, 1999
(Free English Translation for Convenience Purposes Only)
*(a)(13) Text of Press Release of Parent, dated October 25, 1999
*(a)(14) Text of Press Release of Parent, dated October 29, 1999
*(a)(15) Text of Press Release of Parent, dated November 15, 1999
*(a)(16) Text of Press Release of Parent, dated November 22, 1999
*(a)(17) Text of Press Release of Parent, dated December 2, 1999
*(a)(18) Text of Press Release of Parent, dated December 3, 1999
*(a)(19) Text of Press Release of Parent, dated December 6, 1999
*(a)(20) Text of Press Release of Parent, dated December 10, 1999
*(a)(21) Text of Press Release of Parent, dated December 13, 1999
*(a)(22) Text of Press Release of Parent, dated December 17, 1999
(a)(23) Text of Press Release of Parent, dated December 23, 1999
*(b)(1) Credit Agreement, dated October 13, 1999, between RHI
Finance ApS, as Borrower, and Raiffeisen Zentralbank
Osterreich Aktiengesellschaft, Creditanstalt AG, ABN Amro
Bank N.V., Filiale Wien, Bank Austria Aktiengesellschaft,
Bank fur Arbeit und Wirtschaft AG, Erste Bank der
oesterreichischen Sparkassen AG and Osterreichische
Volksbanken AG, collectively, the Lenders, for [EURO]440
million (Free English Translation for Convenience Purposes
Only)
*(b)(2) Guaranty Agreement dated October , 1999, between Parent
and the Lenders (Free English Translation for Convenience
Purposes Only)
*(c)(1) Agreement and Plan of Merger, dated July 12, 1999, among
Parent, Purchaser and the Company
(d) Not applicable
(e) Not applicable
(f) Not applicable
</TABLE>
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* Previously filed.
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SIGNATURES
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.
<TABLE>
<S> <C> <C>
HEAT ACQUISITION CORP.
By: /s/ JAKOB MOSSER
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Name: Jakob Mosser
Title: President
RHI AG
By: /s/ JAKOB MOSSER
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Name: Jakob Mosser
Title: Member of Management Board
</TABLE>
Dated: December 23, 1999
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EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT DESCRIPTION
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<S> <C>
*(a)(1) Offer To Purchase, dated July 16, 1999
*(a)(2) Letter of Transmittal
*(a)(3) Notice of Guaranteed Delivery
*(a)(4) Form of Letter to Brokers, Dealers, Commercial Banks, Trust
Companies and Other Nominees
*(a)(5) Form of Letter to Clients for use by Brokers, Dealers,
Commercial Banks, Trust Companies and Other Nominees
*(a)(6) Guidelines for Certification of Taxpayer Identification
Number on Substitute Form W-9
*(a)(7) Form of Summary Advertisement, dated July 19, 1999
*(a)(8) Text of Joint Press Release of Parent and the Company, dated
July 12, 1999
*(a)(9) Text of Press Release of Parent, dated August 4, 1999
*(a)(10) Text of Press Release of Parent, dated August 6, 1999
*(a)(11) Text of Press Release of Parent, dated September 29, 1999
*(a)(12) Text of Press Release of Parent, dated October 14, 1999
(Free English Translation for Convenience Purposes Only)
*(a)(13) Text of Press Release of Parent, dated October 25, 1999
*(a)(14) Text of Press Release of Parent, dated October 29, 1999
*(a)(15) Text of Press Release of Parent, dated November 15, 1999
*(a)(16) Text of Press Release of Parent, dated November 22, 1999
*(a)(17) Text of Press Release of Parent, dated December 2, 1999
*(a)(18) Text of Press Release of Parent, dated December 3, 1999
*(a)(19) Text of Press Release of Parent, dated December 6, 1999
*(a)(20) Text of Press Release of Parent, dated December 10, 1999
*(a)(21) Text of Press Release of Parent, dated December 13, 1999
*(a)(22) Text of Press Release of Parent, dated December 17, 1999
(a)(23) Text of Press Release of Parent, dated December 23, 1999
*(b)(1) Credit Agreement, dated October 13, 1999, between RHI
Finance ApS, as Borrower, and Raiffeisen Zentralbank
Osterreich Aktiengesellschaft, Creditanstalt AG, ABN Amro
Bank N.V., Filiale Wien, Bank Austria Aktiengesellschaft,
Bank fur Arbeit und Wirtschaft AG, Erste Bank der
oesterreichischen Sparkassen AG and Osterreichische
Volksbanken AG, collectively, the Lenders, for [EURO]440
million (Free English Translation for Convenience Purposes
Only)
*(b)(2) Guaranty Agreement, dated October 14, 1999, between Parent
and the Lenders (Free English Translation for Convenience
Purposes Only)
(b) Not applicable
*(c)(1) Agreement and Plan of Merger, dated July 12, 1999, among
Parent, Purchaser and the Company
(d) Not applicable
(e) Not applicable
(f) Not applicable
</TABLE>
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* Previously filed.
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Exhibit 99.(a)(23)
PRESS RELEASE
RHI AG ANNOUNCES EXTENSION OF TENDER OFFER FOR
GLOBAL INDUSTRIAL TECHNOLOGIES, INC. COMMON STOCK
VIENNA, December 23, 1999 -- RHI AG (Vienna Stock Exchange: RHI) today announced
the extension of the expiration date of the previously announced $13.00 per
share cash tender offer by RHI's subsidiary, Heat Acquisition Corp., for all of
the outstanding shares of common stock of Global Industrial Technologies, Inc.
(NYSE: GIX). As extended, the offer will expire at 5:00 p.m., New York City
time, on Tuesday, December 28, 1999.
As previously announced, RHI has reached an agreement with the Federal Trade
Commission (FTC) staff, which the staff has indicated they would recommend to
the Commission for its approval, regarding the divestiture of certain refractory
manufacturing assets. The Commission is reviewing the recommended divestiture.
The expiration date is being extended to provide the Commission time to complete
its review and approval of the divestiture. The expiration date will be further
extended if necessary to provide the FTC adequate time to complete such review
and approval.
As previously announced, RHI has entered into agreements with two alternative
purchasers to complete the divestiture necessary to comply with FTC requirements
for antitrust clearance. The divestiture agreements are subject to the
satisfaction or waiver of certain conditions, including, in the case of the
agreement announced in November, a financing condition. While RHI believes that
the terms and conditions of the divestitures evidenced by these agreements
should satisfy the FTC's requirements, there can be no assurance that the FTC
will consent to the terms of these divestitures or that RHI will be successful
in completing a divestiture or the timing or the terms thereof.
The tender offer remains conditioned upon, among other things, the tender of at
least a majority of the shares of Global's common stock outstanding on a
fully-diluted basis and the expiration of any applicable waiting period under
the Hart-Scott-Rodino Act.
As of December 22, 1999, approximately 20,092,018 shares of common stock of
Global had been tendered and not withdrawn pursuant to the tender offer. This
constitutes approximately 89.6% of Global's outstanding shares 80.1% on a
fully diluted basis).
RHI is a global operator in the refractories, engineering, insulating and
waterproofing sectors, with over 10,000 employees at more than 50 locations
spanning all five continents. With VRD, RHI is the world market leader for
refractories and a vital partner to all industries whose activities require high
temperature production processes. RHI's customers include the steel, cement,
glass and nonferrous metal industries. In 1998 RHI reported earnings before tax
of US $68.0 million on sales of US $1.6 billion.
Forward-looking statements in this press release involve risks and uncertainties
that could cause actual results to differ from those contemplated. Factors that
could cause those differences include the terms and availability of financing,
actions by other persons, legal and regulatory requirements and other factors.
FOR FURTHER QUESTIONS PLEASE CONTACT:
RHI AG / Peter Hofmann
Phone (+43) (1) 50213-123 / Fax (+43) (1) 50213-130
e-mail: [email protected]
