<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE TO
(RULE 14d-100)
TENDER OFFER STATEMENT UNDER SECTION 14(D)(1) OR 13(E)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
AND
SCHEDULE 13D
(AMENDMENT NO. 3)
TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.
(Name of Subject Company)
TRANSPORTATION ACQUISITION I CORP.
TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.
THOMAS M. BEGEL
JAMES D. CIRAR
TIMOTHY A. MASEK
DONALD C. MUELLER
CAMILLO M. SANTOMERO III
KENNETH M. TALLERING
ANDREW M. WELLER
(Bidders)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)
479477 10 1
(CUSIP Number of Class of Securities)
THOMAS M. BEGEL
TRANSPORTATION ACQUISITION I CORP.
980 N. MICHIGAN AVENUE, SUITE 1000
CHICAGO, ILLINOIS 60611
TELEPHONE: (312) 280-8844
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications on Behalf of Bidders)
COPY TO:
JOSEPH A. COCO, ESQ. DENNIS S. HERSCH, ESQ.
SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP DAVIS POLK & WARDWELL
FOUR TIMES SQUARE 450 LEXINGTON AVENUE
NEW YORK, NEW YORK 10036-6522 NEW YORK, NEW YORK 10017
TELEPHONE: (212) 735-3000 TELEPHONE: (212) 450-4000
FACSIMILE: (212) 735-2000 FACSIMILE: (212) 450-4800
<PAGE>
CALCULATION OF FILING FEE
================================================================================
Transaction Valuation* Amount of Filing Fee
- --------------------------------------------------------------------------------
$229,346,738 $45,870
================================================================================
* ESTIMATED FOR PURPOSES OF CALCULATING THE AMOUNT OF THE FILING FEE
ONLY. THE AMOUNT ASSUMES THE PURCHASE OF ALL OUTSTANDING SHARES OF
COMMON STOCK, PAR VALUE $0.01 PER SHARE (THE "SHARES"), OF
TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC., A DELAWARE CORPORATION
(THE "COMPANY"), AT A PRICE OF $21.50 PER SHARE IN CASH. AS OF JANUARY
28, 2000, THERE WERE (1) 10,322,280 SHARES ISSUED AND OUTSTANDING AND
(2) 636,168 UNEXERCISED OPTIONS TO ACQUIRE SHARES WITH AN EXERCISE
PRICE OF LESS THAN $21.50 PER SHARE UNDER VARIOUS EMPLOYEE STOCK POTION
PLANS OF THE COMPANY. BASED ON THE FOREGOING, THE TRANSACTION VALUE IS
EQUAL TO THE SUM OF (1) THE PRODUCT OF 10,322,280 SHARES AND $21.50 PER
SHARE AND (2) THE PRODUCT OF 636,168 SHARES SUBJECT TO OPTIONS TO
PURCHASE SHARES WITH AN EXERCISE PRICE OF LESS THAN $21.50 PER SHARE
AND THE DIFFERENCE BETWEEN $21.50 PER SHARE AND THE EXERCISE PRICE PER
SHARE OF SUCH OPTIONS. THE AMOUNT OF THE FILING FEE, CALCULATED IN
ACCORDANCE WITH RULE 0-11 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED, EQUALS 1/50TH OF ONE PERCENT OF THE VALUE OF THE TRANSACTION.
|X| CHECK THE 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.
AMOUNT PREVIOUSLY PAID: $45,870 FILING PARTY: TRANSPORTATION TECHNOLOGIES
INDUSTRIES, INC. AND TRANSPORTATION
ACQUISITION I CORP.
FORM OR REGISTRATION NO.: SCHEDULE TO DATE FILED: FEBRUARY 3, 2000
|_| CHECK THE BOX IF THE FILING RELATES SOLELY TO PRELIMINARY
COMMUNICATIONS MADE BEFORE THE COMMENCEMENT OF A TENDER OFFER.
CHECK THE APPROPRIATE BOXES BELOW TO DESIGNATE ANY TRANSACTIONS TO WHICH THE
STATEMENT RELATES:
| | THIRD-PARTY TENDER OFFER SUBJECT TO RULE 14d-1.
|X| ISSUER TENDER OFFER SUBJECT TO RULE 13e-4.
|X| GOING-PRIVATE TRANSACTION SUBJECT TO RULE 13e-3.
|X| AMENDMENT TO SCHEDULE 13D UNDER RULE 13d-2.
CHECK THE FOLLOWING BOX IF THE FILING IS A FINAL AMENDMENT REPORTING THE RESULTS
OF A TENDER OFFER: |_|
2
<PAGE>
CUSIP NO. 479477101
- --------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas M. Begel
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 455,012 (1)
-----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 455,012 (1)
-----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
455,012 (1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- --------
(1) Includes 50,000 shares of Common Stock subject to options exercisable
within 60 days after the date of this Statement, approximately 4,000
shares of Common Stock held through a 401(k) plan and 29,500 shares of
restricted Common Stock.
3
<PAGE>
CUSIP NO. 479477101
- --------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
James D. Cirar
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 135,398(1)
-----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 135,398(1)
-----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
135,398(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- --------
(1) Includes 100,000 shares of Common Stock subject to options exercisable
within 60 days after the date of this Statement and 13,398 shares of
Common Stock held in self-directed IRA.
<PAGE>
CUSIP NO. 479477101
- --------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Timothy A. Masek
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 43,700(1)
-----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 43,700(1)
-----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
43,700(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- --------
(1) Includes 18,800 shares of Common Stock subject to options exercisable
within 60 days after the date of this Statement, approximately 2,500
shares of Common Stock held through a 401(k) plan and 19,500 shares of
restricted Common Stock.
<PAGE>
CUSIP NO. 479477101
- --------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Donald C. Mueller
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 7,142(1)
-----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 7,142(1)
-----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,142(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- --------
(1) Includes 6,667 shares of Common Stock subject to options exercisable
within 60 days after the date of this Statement and 475 shares of
Common Stock held through a 401(k) plan.
Page 8
<PAGE>
CUSIP NO. 479477101
- --------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Camillo M. Santomero III
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 173,000(1)
-----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 173,000(1)
-----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
173,000(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- --------
(1) Mr. Santomero is a private investor and a Senior Consultant to Chase
Capital Partners, which beneficially owns shares of Common Stock, but
Mr. Santomero disclaims beneficial ownership of such shares. Mr.
Santomero, however, has an interest in a pool of securities, inlcluding
shares of Common Stock, acquired by Chemical Equity Associates at the
time he was a General Partner of Chemical Venture Partners (now Chase
Capital Partners). Mr. Santomero holds options to purchase 23,000
shares of Common Stock, of which 20,000 are exercisable within 60 days
after the date of this Statement.
<PAGE>
CUSIP NO. 479477101
- --------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Kenneth M. Tallering
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 62,300(1)
-----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 62,300(1)
-----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
62,300(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- --------
(1) Includes 37,500 shares of Common Stock subject to options exercisable
within 60 days after the date of this Statement, approximately 4,000
shares of Common Stock held through a 401(k) plan and 19,500 shares of
restricted Common Stock.
<PAGE>
CUSIP NO. 479477101
- --------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Andrew M. Weller
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 152,500(1)
-----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 152,500(1)
-----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
152,500(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- --------
(1) Includes 105,000 shares of Common Stock subject to options exercisable
within 60 days after the date of this Statement, approximately 4,000
shares of Common Stock held through a 401(k) plan and 29,500 shares of
restricted Common Stock.
<PAGE>
TENDER OFFER
This Amendment No. 2 to the Tender Offer Statement on Schedule TO
amends and supplements the Tender Offer Statement on Schedule TO originally
filed by Thomas M. Begel, Timothy A. Masek, Camillo M. Santomero III, Kenneth
M. Tallering and Andrew M. Weller on February 3, 2000, as amended, relating
to the joint tender offer by Transportation Acquisition I Corp.
("Acquisition"), and Transportation Technologies Industries, Inc. (the
"Company") to purchase all shares of common stock, par value $0.01 per share
(the "Common Stock"), together with the associated preferred share purchase
rights (the "Rights" and, together with the Common Stock, the "Shares")
issued pursuant to the Rights Agreement, dated as of October 5, 1995, between
the Company and BankBoston N.A., as Rights Agent, of the Company at $21.50
per Share, net to the seller in cash, without interest. This Amendment is
filed by the Company, Acquisition, Thomas M. Begel, James D. Cirar, Timothy
A. Masek, Donald C. Mueller, Camillo M. Santomero III, Kenneth M. Tallering
and Andrew M. Weller. This Amendment also constitutes Amendment No. 3 to the
Schedule 13D originally filed on December 23, 1999, as amended.
The tender offer is being made upon the terms and subject to the
conditions set forth in the Offer to Purchase, dated February 3, 2000, as
amended (the "Offer to Purchase"), and the related letter of transmittal. The
information included in the Offer to Purchase is incorporated by reference
herein. Unless otherwise defined, all capitalized terms used herein shall have
the respective meanings given to such terms in the Offer to Purchase.
ITEM 11. ADDITIONAL INFORMATION.
Item 11 is hereby amended and supplemented by incorporating by
reference the press release issued by the Company on March 6, 2000, a copy of
which is filed herewith as Exhibit (a)(10) to the Schedule TO.
ITEM 12. MATERIALS TO BE FILED AS EXHIBITS.
Item 12 is hereby amended and supplemented by adding the following at
the end thereof:
(a)(10) Press Release of the Company, dated March 6, 2000.
<PAGE>
SIGNATURES
After due inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certify that the information set forth in this Statement
is true, complete and correct.
TRANSPORTATION ACQUISITION I CORP.
By: /s/ KENNETH M. TALLERING
-------------------------------------------
Name: Kenneth M. Tallering
Title: Vice President
TRANSPORTATION TECHNOLOGIES
INDUSTRIES, INC.
By: /s/ ANDREW M. WELLER
-------------------------------------------
Name: Andrew M. Weller
Title: President and Chief Operating Officer
/s/ THOMAS M. BEGEL
----------------------------------------------
Thomas M. Begel
/s/ JAMES D. CIRAR
----------------------------------------------
James D. Cirar
/s/ TIMOTHY A. MASEK
----------------------------------------------
Timothy A. Masek
/s/ DONALD C. MUELLER
----------------------------------------------
Donald C. Mueller
/s/ CAMILLO M. SANTOMERO III
----------------------------------------------
Camillo M. Santomero III
/s/ KENNETH M. TALLERING
----------------------------------------------
Kenneth M. Tallering
/s/ ANDREW M. WELLER
----------------------------------------------
Andrew M. Weller
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
ITEM DESCRIPTION
<S> <C>
(a)(10) Press Release of the Company, dated March 6, 2000.
</TABLE>
<PAGE>
EXHIBIT (a)(10)
Contact: Andrew M. Weller - (312) 280-8844
TRANSPORTATION TECHNOLOGIES ANNOUNCES
EXTENSION OF OFFERS FOR ITS SHARES AND NOTES
CHICAGO, ILLINOIS, March 6, 2000 - Transportation Technologies Industries,
Inc. (NASDAQ: TTII) announced today that it and Transportation Acquisition I
Corp., a company formed by an investor group led by members of Transportation
Technologies' senior management, have extended their joint tender offer for all
outstanding shares of common stock of Transportation Technologies, at $21.50 per
share in cash, until 12:00 noon, New York City time, on Thursday, March 9, 2000.
The joint tender offer had previously been scheduled to expire on March 3, 2000,
and is being extended in order to complete the various components of the
financing of the transaction. The terms and conditions of the extended joint
tender offer otherwise are identical to the original joint tender offer as set
forth in offering materials filed with the Securities and Exchange Commission on
February 3, 2000, as amended on February 25, 2000.
According to First Union National Bank, the depositary for the joint tender
offer, as of the close of business on March 3, 2000, a total of 8,707,859 shares
of common stock of Transportation Technologies, or 84.36% of the total issued
and outstanding Transportation Technologies shares, had been validly tendered
and not withdrawn pursuant to the joint tender offer (including shares tendered
pursuant to a guarantee of delivery).
Transportation Technologies also announced today that it has extended its
tender offers for all of its outstanding 11 3/4% Senior Subordinated Notes Due
2005 and 11 3/4% Series C Senior Subordinated Notes Due 2005 until 12:00 noon,
New York City time, on Thursday, March 9, 2000. The tender offers had originally
been scheduled to expire at 12:00 midnight, New York City time, on March 3,
2000, and are being extended for the same reasons as the tender offer for
Transportation Technologies' common stock. The terms and conditions of the
extended tender offers otherwise are identical to the original tender offers as
set forth in offering materials sent to Noteholders on February 3, 2000.
As announced on February 17, 2000, Transportation Technologies
Industries, Inc. has received consents from the holders of a majority in
outstanding principal amount of both the 11 3/4% Senior Subordinated Notes
Due 2005 and the 11 3/4% Series C Senior Subordinated Notes Due 2005 to
certain amendments to the indentures pursuant to which the Notes were issued.
According to First Union National Bank, the depositary for the tender offers,
as of close of business, on March 3, 2000, approximately $100,000,000
principal amount of the 11 3/4% Senior Subordinated Notes Due 2005, or 100%
of the outstanding 11 3/4% Senior Subordinated Notes Due 2005, and
approximately $78,750,000 principal amount of the 11 3/4% Series C Senior
Subordinated Notes Due 2005, or 100%
<PAGE>
of the outstanding 11 3/4% Series C Senior Subordinated Notes Due 2005 were
validly tendered to the tender offers and not withdrawn (including Notes
tendered pursuant to a guarantee of delivery).
Questions and requests for assistance with respect to the offers to
purchase for the shares or the notes may be directed to the Information Agent
for the offers, MacKenzie Partners, Inc. at (212) 929-5500 (call collect) or
(800) 322-2885, or the Dealer Managers for the offers to purchase, CIBC World
Markets at (212) 885-4597 or (800) 274-2746, and First Union Securities at (704)
383-1114 or (800) 528-4580.
Transportation Technologies Industries, Inc. is a Delaware corporation with
its principal executive offices located at 980 N. Michigan Avenue, Suite 1000,
Chicago, Illinois, 60611. The Company is a leading manufacturer of components
for heavy-duty and medium-duty trucks and buses and the trucks parts
aftermarket. The Company's product lines include Gunite wheel-end components,
Brillion custom iron castings, Imperial body and chassis components, Bostrom
truck and bus seating systems and Fabco steerable drive axles and gearboxes. The
Company has manufacturing operations in Alabama, California, Illinois, Indiana,
Pennsylvania, Tennessee, Texas, Virginia, Washington and Wisconsin.
THIS ANNOUNCEMENT IS NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION OF
AN OFFER TO SELL SHARES OF THE COMPANY. TRANSPORTATION ACQUISITION I CORP.
AND THE COMPANY HAVE FILED A TENDER OFFER STATEMENT WITH THE U.S. SECURITIES
AND EXCHANGE COMMISSION AND THE COMPANY HAS FILED A
SOLICITATION/RECOMMENDATION STATEMENT WITH RESPECT TO THE OFFER. THE TENDER
OFFER STATEMENT (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF
TRANSMITTAL AND OTHER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION
STATEMENT CONTAIN IMPORTANT INFORMATION WHICH SHOULD BE READ CAREFULLY BEFORE
ANY DECISION IS MADE WITH RESPECT TO THE OFFER. THE OFFER TO PURCHASE, THE
RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER OFFER DOCUMENTS, AS WELL AS
THE SOLICITATION/RECOMMENDATION STATEMENT, ARE AVAILABLE TO ALL STOCKHOLDERS
OF THE COMPANY UPON REQUEST, AT NO EXPENSE TO THEM. THE TENDER OFFER
STATEMENT (INCLUDING THE OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL
AND ALL OTHER OFFER DOCUMENTS FILED WITH THE COMMISSION) AND THE
SOLICITATION/RECOMMENDATION STATEMENT ARE ALSO AVAILABLE AT NO CHARGE AT THE
COMMISSION'S WEBSITE AT WWW.SEC.GOV.
THIS ANNOUNCEMENT IS NOT AN OFFER TO PURCHASE, A SOLICITATION OF AN OFFER
TO PURCHASE OR A SOLICITATION OF CONSENTS WITH RESPECT TO THE NOTES. THE OFFERS
AND CONSENTS SOLICITATIONS ARE BEING MADE SOLELY BY THE OFFERS TO PURCHASE AND
CONSENT SOLICITATIONS STATEMENT, DATED FEBRUARY 3, 2000, AND THE RELATED LETTER
OF
<PAGE>
TRANSMITTAL AND CONSENT, AS THE SAME MAY BE AMENDED FROM TIME TO TIME.
