SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
---------------------
AMENDMENT NO. 11
to
SCHEDULE 14D-9
SOLICITATION/RECOMMENDATION STATEMENT
Pursuant to Section 14(d)(4)
of the Securities Exchange Act of 1934
---------------------
CONRAIL INC.
(Name of Subject Company)
---------------------
CONRAIL INC.
(Name of Person(s) Filing Statement)
---------------------
Common Stock, par value $1.00 per share
(including the associated Common Stock Purchase Rights)
(Title of Class of Securities)
208368 10 0
(CUSIP Number of Class of Securities)
---------------------
Series A ESOP Convertible Junior Preferred Stock, without par value
(including the associated Common Stock Purchase Rights)
(Title of Class of Securities)
N/A
(CUSIP Number of Class of Securities)
---------------------
James D. McGeehan
Corporate Secretary
Conrail Inc.
2001 Market Street
Two Commerce Square
Philadelphia, Pennsylvania 19101
(215) 209-4000
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications on Behalf of the Person(s) Filing Statement)
With a copy to:
Robert A. Kindler, Esq.
Cravath, Swaine & Moore
Worldwide Plaza
825 Eighth Avenue
New York, New York 10019
(212) 474-1000
<PAGE>
INTRODUCTION
Conrail Inc. ("Conrail") hereby amends and supplements its
Solicitatio Recommendation Statement on Schedule 14D-9, originally
filed on December 6, 1996, and amended on December 12, 1996, December
20, 1996, January 3, 1997, January 10, 1997, January 14, 1997, January
16, 1997, January 21, 1997, January 28, 1997, February 3, 1997 and
February 12, 1997 (as amended, the "CSX Schedule 14D-9") with respect
to an offer by Green Acquisition Corp., a Pennsylvania corporation
("Purchaser") and a wholly owned subsidiary of CSX Corporation, a
Virginia corporation ("CSX"), to purchase up to an aggregate of
18,344,845 Shares of Conrail. Capitalized terms not defined herein
have the meanings assigned thereto in the CSX Schedule 14D-9.
Item 8. Additional Information to be Furnished.
Item 8 of the CSX Schedule 14D-9 is hereby amended and
supplemented by adding the following text thereto:
On February 14, 1997, CSX issued a press release announcing that
it is extending the Second CSX Offer until 5:00 p.m., Eastern Standard
Time, on Friday, March 14, 1997. A copy of the press release is
attached hereto as Exhibit (a)(28), is incorporated herein by
reference and the foregoing summary is qualified in its entirety by
reference to such Exhibit.
Item 9. Materials to be filed as Exhibits.
Item 9 of the CSX Schedule 14D-9 is hereby amended and
supplemented by adding the following text thereto:
(a)(28) Text of press release issued by CSX
on February 14, 1997.
<PAGE>
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.
CONRAIL INC.
By /s/ John A. McKelvey
Name: John A. McKelvey
Title: Senior Vice President--
Finance
Dated as of February 14, 1997
<PAGE>
EXHIBIT INDEX
Exhibit Description Page No.
*(a)(1) Offer to Purchase dated December 6, 1996
(incorporated by reference to
Exhibit (a)(1) to CSX's and Purchaser's
Tender Offer Statement on Schedule 14D-1
dated December 6, 1996, as amended (the
"CSX 14D-1")).................................
*(a)(2) Letter of Transmittal (incorporated by
reference to Exhibit (a)(2) to the CSX
14D-1)........................................
*(a)(3) Text of press release issued by CSX dated
December 6, 1996 (incorporated by reference
to Exhibit (a)(7) to the CSX 14D-1)...........
*(a)(4) Letter to shareholders of Conrail dated
December 6, 1996..............................
*(a)(5) Form of Summary Advertisement dated
December 6, 1996 (incorporated by reference
to Exhibit (a)(5) to the CSX 14D-1)...........
*(a)(6) Opinion of Lazard Freres & Co. LLC
(incorporated by reference to
Exhibit (a)(14) to the Solicitatio /
Recommendation Statement on Schedule 14D-9
of Conrail dated October 16, 1996, as
amended, relating to the First Offer (the
"First 14D-9"))...............................
*(a)(7) Opinion of Morgan Stanley & Co.
Incorporated (incorporated by reference to
Exhibit (a)(15) to the First 14D-9)...........
*(a)(8) Text of press release issued by Conrail and
CSX dated December 10, 1996...................
*(a)(9) Opinion of Lazard Freres & Co. LLC dated
December 18, 1996.............................
*(a)(10) Opinion of Morgan Stanley & Co.
Incorporated dated December 18, 1996..........
*(a)(11) Supplement to the Offer to Purchase dated
December 19, 1996 (incorporated by
reference to Exhibit (a)(15) to the 14D-1)....
*(a)(12) Text of press release issued by CSX and
Conrail dated December 19, 1996...............
<PAGE>
*(a)(13) Text of press release issued by Conrail
dated December 20, 1996.......................
*(a)(14) Text of advertisement published by Conrail
and CSX on December 10, 1996..................
*(a)(15) Text of advertisement published by Conrail
and CSX on December 12, 1996..................
*(a)(16) Text of joint press release issued by
Conrail and CSX dated January 9, 1997.........
*(a)(17) Text of joint press release issued by
Conrail and CSX dated January 13, 1997........
*(a)(18) Text of joint press release issued by
Conrail and CSX dated January 15, 1997........
*(a)(19) Text of press release issued by Conrail
dated January 19, 1997........................
*(a)(20) Text of press release issued by Conrail
dated January 22, 1997 (incorporated by
reference to Exhibit (a)(26) to the Norfolk
14D-9)........................................
*(a)(21) Text of press release issued by Conrail
dated January 23, 1997 (incorporated by
reference to Exhibit (a)(27) to the Norfolk
14D-9)........................................
*(a)(22) Text of press release issued by Conrail
dated January 28, 1997 (incorporated by
reference to Exhibit (a)(24) to the Norfolk
14 D-9).......................................
*(a)(23) Text of joint advertisement published by
Conrail and CSX on January 29, 1997...........
*(a)(24) Text of press release issued by Conrail on
January 31, 1997..............................
*(a)(25) Text of joint press release issued by
Conrail, CSX and Norfolk on January 31, 1997..
*(a)(26) Text of press release issued by Norfolk
dated February 10, 1997.......................
*(a)(27) Text of press release issued by Conrail
dated February 10, 1997 ......................
(a)(28) Text of press release issued by CSX dated
February 14, 1997 ............................
<PAGE>
*(c)(1) Agreement and Plan of Merger dated as of
October 14, 1996 (incorporated by reference
to Exhibit (c)(1) to CSX's and Purchaser's
Tender Offer Statement on Schedule 14D-1
dated October 16, 1996, as amended,
relating to the First Offer (the "First
CSX 14D-1"))..................................
*(c)(2) First Amendment to Agreement and Plan of
Merger dated as of November 5, 1996
(incorporated by reference to
Exhibit (c)(7) to the First CSX 14D-1)........
*(c)(3) Conrail Stock Option Agreement dated as of
October 14, 1996 (incorporated by reference
to Exhibit (c)(2) to the First CSX 14D-1).....
*(c)(4) CSX Stock Option Agreement dated as of
October 14, 1996 (incorporated by reference
to Exhibit (c)(3) to the First CSX 14D-1).....
*(c)(5) Voting Trust Agreement dated as of
October 15, 1996 (incorporated by reference
to Exhibit (c)(4) to the First CSX 14D-1).....
*(c)(6) Employment Agreement of Mr. LeVan dated as
of October 14, 1996 (incorporated by
reference to Exhibit (c)(5) to the
First 14D-9)..................................
*(c)(7) Change of Control Agreement of Mr. LeVan
dated as of October 14, 1996 (incorporated
by reference to Exhibit (c)(6) to the
First 14D-9)..................................
*(c)(8) Answer and Defenses of Conrail, CSX and the
individual defendants to Second Amended
Complaint, and Counterclaim of Conrail and
CSX in Norfolk Southern et al. v. Conrail
Inc. et al., filed on December 5, 1996, in
the United States District Court for the
Eastern District of Pennsylvania
(incorporated by reference to
Exhibit (c)(8) to the Solicitatio /
Recommendation Statement on Schedule 14D-9
of Conrail dated November 6, 1996, as
amended, relating to the Norfolk Offer).......
<PAGE>
*(c)(9) Pages 4-5 and 9-14 of Conrail's Proxy
Statement dated April 3, 1996 (incorporated
by reference to Exhibit (c)(7) to the
First 14D-9)..................................
*(c)(10) Second Amendment to Agreement and Plan of
Merger dated as of December 18, 1996
(incorporated by reference to Exhibit
(c)(6) to the 14D-1)..........................
*(c)(11) Form of Amended and Restated Voting Trust
Agreement (incorporated by reference to
Exhibit (c)(7) to the 14D-1)..................
*(c)(12) Text of opinion of Judge Donald
VanArtsdalen of the United States District
Court for the Eastern District of
Pennsylvania as delivered from the bench on
January 9, 1997...............................
*(c)(13) Text of STB Decision No. 5 of STB Finance
Docket No. 33220 dated January 8, 1997........
- ---------------------
* Previously filed
EXHIBIT (a)(28)
[CSX logo]
P.O. Box 85629
Richmond, Virginia 23285-5629
NEWS http://www.csx.com
=========================================================================
CONTACT: CSX Kekst and Company
Thomas E. Hoppin Richard Wolff
(804) 782-1450 (212) 593-2655
FOR IMMEDIATE RELEASE
CSX EXTENDS TENDER OFFER
RICHMOND, VA, February 14, 1997 -- CSX Corporation (CSX)
(NYSE:CSX) today announced that its tender offer for 18,344,845 shares
of Conrail Inc. (or approximately 20.1% of the outstanding shares) has
been extended until 5:00 p.m., Eastern Standard Time, on Friday,
March 14, 1997. The offer was scheduled to expire at 5:00 p.m., Eastern
Standard Time, on February 14, 1997. CSX has been advised by the
Depository that 504,381 shares have been tendered into the offer as of
the close of business on February 13, 1997.
CSX Corporation, headquartered in Richmond, Va., is an
international transportation company offering a variety of rail,
container-shipping, intermodal, trucking, barge, and contract
logistics management services. CSX's home page can be reached at
http://www.CSX.com.
# # #
