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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
AND
STATEMENT ON
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
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AMENDMENT NO. 4
AYDIN CORPORATION
(NAME OF SUBJECT COMPANY)
ANGEL ACQUISITION CORPORATION
L-3 COMMUNICATIONS CORPORATION
L-3 COMMUNICATIONS HOLDINGS, INC.
(BIDDER)
COMMON STOCK, PAR VALUE $1.00 PER SHARE
(TITLE OF CLASS OF SECURITIES)
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05468110
(CUSIP NUMBER OF CLASS OF SECURITIES)
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CHRISTOPHER C. CAMBRIA, ESQ.
VICE PRESIDENT, GENERAL COUNSEL AND SECRETARY
L-3 COMMUNICATIONS CORPORATION
600 THIRD AVENUE
NEW YORK, NY 10016
TELEPHONE: (212) 697-1111
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO
RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF BIDDER)
Copy to:
WILLIAM E. CURBOW, ESQ.
SIMPSON THACHER & BARTLETT
425 LEXINGTON AVENUE
NEW YORK, NEW YORK 10017
TELEPHONE: (212) 455-2000
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CUSIP NO. 05468110
<TABLE>
<S> <C> <C>
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ANGEL ACQUISITION CORPORATION
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
4,889,717
NUMBER OF --------------------------------------------------------
SHARES 8 SHARED VOTING POWER*
BENEFICIALLY 0
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 4,889,717
PERSON --------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
4,889,717
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
93.6% (BASED ON 5,220,936 OUTSTANDING)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
</TABLE>
2
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CUSIP NO. 05468110
<TABLE>
<S> <C> <C>
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
L-3 COMMUNICATIONS CORPORATION 13-3937436
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER*
SHARES
BENEFICIALLY 4,889,717
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
4,889,717
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
93.6% (BASED ON 5,220,936 OUTSTANDING)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
</TABLE>
3
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CUSIP NO. 05468110
<TABLE>
<S> <C> <C>
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
L-3 COMMUNICATIONS HOLDINGS, INC. 13-3937434
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF ------------------------------------------------------------
SHARES 8 SHARED VOTING POWER*
BENEFICIALLY
OWNED BY 4,889,717
EACH ------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
4,889,717
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
93.6% (BASED ON 5,220,936 OUTSTANDING)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC
- --------------------------------------------------------------------------------
</TABLE>
4
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This Amendment No. 4 amends and supplements the Tender Offer Statement on
Schedule 14D-1 and Statement on Schedule 13D (the "Schedule 14D-1/13D")
relating to the offer by Angel Acquisition Corporation, a Delaware corporation
("Purchaser") and a wholly owned subsidiary of L-3 Communications Corporation,
a Delaware corporation ("Parent") and a wholly owned subsidiary of L-3
Communications Holdings, Inc., a Delaware corporation ("Holdings"), to purchase
all of the outstanding shares of Common Stock, par value $1.00 per share (the
"Shares"), of Aydin Corporation, a Delaware corporation (the "Company"), at a
purchase price of $13.50 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 as of March 5, 1999 (the "Offer to Purchase") and in the related
Letter of Transmittal (which, as amended from time to time, together constitute
the "Offer").
All capitalized terms used herein and not defined herein shall have the
meanings set forth in the Offer to Purchase.
ITEM 5. PURPOSE OF THE TENDER OFFER AND PLANS OR PROPOSALS OF THE BIDDER.
Item 5 of the Schedule 14D-1 is hereby amended and supplemented as
follows:
The information in this Amendment No. 4 under Item 6 is incorporated
herein by reference.
ITEM 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
Item 6 of the Schedule 14D-1 is hereby amended and supplemented as
follows:
At 12:00 midnight, New York City time, on Wednesday, April 14, 1999, the
Offer expired. Based on the information provided by the Depositary, 93.6% of
the Shares were validly tendered and not properly withdrawn pursuant to the
Offer. The Purchaser has accepted for payment, and has notified the Depositary
to promptly pay for, the tendered and accepted Shares at the purchase price of
$13.50 per Share in cash. Purchaser ultimately acquired 4,889,717 Shares,
representing 93.6% of all Shares outstanding.
Pursuant to the Merger Agreement, the Purchaser intends to merge with and
into the Company in accordance with the Delaware General Corporation Law (the
"DGCL") as promptly as practicable. As a result of the Merger, the Company will
become a wholly-owned subsidiary of Parent and each outstanding Share (other
than Shares held in the treasury of the Company, Shares owned by Parent,
Purchaser or any other direct or indirect wholly-owned subsidiary of Parent and
Shares, if any, owned by stockholders who choose to dissent and demand
appraisal of their Shares in accordance with the DGCL) shall be canceled,
retired and converted into the right to receive $13.50 per Share in cash,
without interest, less any required withholding taxes.
The consummation of the Offer was publicly announced in a press release
issued by the Parent on April 15, 1999 a copy of which is filed as Exhibit
(a)(12) hereto and incorporated herein by reference.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
Item 11 of the Schedule 14D-1 is hereby amended and supplemented as
follows:
(a)(12) Press Release dated April 15, 1999.
5
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ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
*(a)(12) Press Release issued by Parent on April 15, 1999.
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* Incorporated by reference from Exhibit (a)(11) of Angel Acquisition
Corporation, L-3 Communications Holdings, Inc. and L-3 Communications
Corporation's Amendment No. 3 to the Schedule 14D-1/13D filed on April
15, 1999.
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.
L-3 COMMUNICATIONS HOLDINGS, INC.
By: /S/ CHRISTOPHER C. CAMBRIA
----------------------------------------
Name: Christopher C. Cambria
Title: Vice President and General
Counsel
L-3 COMMUNICATIONS CORPORATION
BY: /S/ CHRISTOPHER C. CAMBRIA
----------------------------------------
Name: Christopher C. Cambria
Title: Vice President, General Counsel
and Secretary
ANGEL ACQUISITION CORPORATION
By: /S/ CHRISTOPHER C. CAMBRIA
----------------------------------------
Name: Christopher C. Cambria
Title: President and Secretary
Date: April 23, 1999
7
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EXHIBIT INDEX
EXHIBIT
NO. DESCRIPTION PAGE
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*(a)(12) Press Release issued by Parent on April 15, 1999.
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* Incorporated by reference from Exhibit (a)(11) of Angel Acquisition
Corporation, L-3 Communications Holdings, Inc. and L-3 Communications
Corporation's Amendment No. 3 filed on April 15, 1999.
8