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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
---------------------------
SCHEDULE 14D-1
(AMENDMENT NO. 4)
(FINAL AMENDMENT)
TENDER OFFER STATEMENT
Pursuant to Section 14(d)(1) of the Securities Exchange Act of 1934
and
SCHEDULE 13D
Under the Securities Exchange Act of 1934
---------------------------
CITIZENS CORPORATION
(Name of Subject Company)
ALLMERICA FINANCIAL CORPORATION
CITIZENS ACQUISITION CORPORATION
(Bidders)
COMMON STOCK, $0.01 PAR VALUE
(Title of Class of Securities)
01-174533 10 9
(CUSIP Number of Class of Securities)
JOHN F. KELLY, ESQ.
440 LINCOLN STREET
WORCESTER, MASSACHUSETTS 01653
(508) 855-1000
(Name of Person Authorized to Receive
Notices on Behalf of Bidders)
Copy to:
LAUREN I. NORTON, ESQ.
ROPES & GRAY
ONE INTERNATIONAL PLACE
BOSTON, MASSACHUSETTS 02110
(617) 951-7000
CALCULATION OF FILING FEE
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Transaction Value* Amount of Filing Fee
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$195,938,925.00 $39,187.79
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* For purposes of calculating the fee only. This amount assumes the purchase
of 5,892,900 shares of common stock, par value $.01 per share, of Citizens
Corporation at $33.25 net in cash per share, which represents all
outstanding shares at October 30, 1998 not owned directly or indirectly by
the persons filing this statement. The amount of the filing fee calculated
in accordance with Rule 0-11 equals 1/50th of 1% of the value of the shares
to be purchased.
[X] Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
and identify the filing with which the offsetting fee was previously paid.
Identify the previous filing by registration statement number, or the form
or schedule and the date of its filing.
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Amount Previously Paid: $39,187.79 Filing Parties: Allmerica Financial Corporation and
Citizens Acquisition Corporation
Form or Registration No.: Schedule 14D-1 and Date Filed: November 2, 1998 and November 17, 1998
Amendment No. 2 thereto
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SCHEDULE 14D-1
- ----------------------
CUSIP NO. 01-174533109
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NAME OF REPORTING PERSONS: ALLMERICA FINANCIAL CORPORATION
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 04-3263626
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
2 (A) [X]
(B) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4
BK, WC
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(E) or 2(F) [_]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
DELAWARE
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
7
34,786,365
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES
8 (SEE INSTRUCTIONS):
[_]
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PERCENT OF CLASS REPRESENTED TO AMOUNT IN ROW (7):
9
99.4%
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
10
HC
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SCHEDULE 14D-1
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CUSIP NO. 01-174533109
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NAME OF REPORTING PERSONS: CITIZENS ACQUISITION CORPORATION
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: NONE
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
2 (A) [X]
(B) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4
BK, AF
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(E) or 2(F) [_]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
DELAWARE
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
7
34,786,365
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES
8 (SEE INSTRUCTIONS):
[_]
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PERCENT OF CLASS REPRESENTED TO AMOUNT IN ROW (7):
9
99.4%
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
10
GM
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INTRODUCTION
Allmerica Financial Corporation ("AFC") and Citizens Acquisition
Corporation (the "Purchaser") hereby amend and supplement their Tender Offer
Statement on Schedule 14D-1 (the "Schedule 14D-1") originally filed on November
2, 1998, as amended, with respect to the offer to purchase all of the
outstanding shares of common stock, par value $0.01 per share (the "Shares"), of
Citizens Corporation, a Delaware corporation ("Citizens") that AFC does not
already own. This Amendment No. 4 to the Schedule 14D-1, constituting the Final
Amendment to the Schedule 14D-1 pursuant to Instruction D to Schedule 14D-1,
also constitutes the Statement on Schedule 13D of AFC and the Purchaser. The
item numbers and responses thereto below are in accordance with the requirements
of Schedule 14D-1. Capitalized terms used herein but not defined are used as
defined in the Schedule 14D-1.
ITEM 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
Item 6 of the Schedule 14D-1 is hereby amended and supplemented to add the
following:
On December 3, 1998, AFC issued a press release, a copy of which is
included as exhibit (a)(10) hereto, and the information contained therein is
incorporated by reference.
ITEM 7. CONTRACTS. ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO THE SUBJECT COMPANY'S SECURITIES
Item 7 is hereby amended and supplemented by adding thereto the following:
By executing the Letter of Transmittal or the Revised Letter of
Transmittal, each tendering shareholder has appointed designees of AFC and the
Purchaser as such shareholder's proxies with respect to the tendered Shares. All
such proxies became effective as of Purchaser's acceptance for payment of the
Shares tendered in response to the Offer. Such proxies are irrevocable and
coupled with an interest in the tendered Shares.
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ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
Item 11 of the Schedule 14D-1 is amended and supplemented to add the
following exhibit:
(a)(10) Press release dated December 3, 1998.
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SIGNATURES
After due inquiry and to the best of my knowledge and belief, each of the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Date: December 3, 1998 ALLMERICA FINANCIAL CORPORATION
By: /s/ Edward J. Parry, III
-------------------------------------
Name: Edward J. Parry, III
Title: Vice President, Treasurer and
Chief Financial Officer
CITIZENS ACQUISITION CORPORATION
By: /s/ Edward J. Parry, III
---------------------------------------
Name: Edward J. Parry, III
Title: President and Treasurer
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EXHIBIT INDEX
EXHIBITS
--------
(a)(10) Press release dated December 3, 1998.
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ALLMERICA FINANCIAL COMPLETES
CASH TENDER OFFER FOR CITIZENS CORPORATION
WORCESTER, Mass., December 3, 1998 -- Allmerica Financial Corporation (NYSE:
AFC) today announced that it has completed successfully its tender offer to
purchase shares of Citizens Corporation (NYSE: CZC) common stock for $33.25 per
share. The tender offer expired at midnight, New York City time on December 2,
1998.
Based on its preliminary tabulation, the depositary for the offer has informed
Allmerica that approximately 5,692,865 shares of Citizens stock were tendered
properly and not withdrawn pursuant to the offer, including 366,750 shares
tendered by means of notices of guaranteed delivery. Allmerica accepted for
payment all shares properly tendered prior to the expiration of the offer. The
combination of tendered shares and the 29,093,500 shares of Citizens stock that
Allmerica currently owns represents approximately 99.4 percent of the shares of
Citizens Corporation currently outstanding.
Payment for shares accepted for payment pursuant to the offer will be made
promptly. Allmerica intends to acquire shortly the remaining outstanding shares
of Citizens common stock through the merger of its wholly owned subsidiary,
Citizens Acquisition Corporation, with and into Citizens Corporation at a price
of $33.25 per share.
Allmerica Financial Corporation is the holding company for a diversified group
of insurance and financial services companies, including Citizens, and is based
in Worcester, Mass.
CONTACT: Investors: Media:
Michael F. Buckley Jean Peters
(508) 855-3099 (508) 855-3599
