<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. 3)
AND
SCHEDULE 13D
(AMENDMENT NO. 4)
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
<TABLE>
<CAPTION>
================================================================================
Transaction Valuation* AMOUNT OF FILING FEE
- --------------------------------------------------------------------------------
<S> <C>
$229,346,738 $45,870
================================================================================
</TABLE>
* 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: |X|
2
<PAGE>
- --------------------------
CUSIP NO. 479477101
- --------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
TRANSPORTATION ACQUISITION I CORP.
I.R.S. NO: 22-3703810
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
SC, BK, 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 11,180,004
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 11,180,004
- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,180,004
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
90.15%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
3
<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 285,210
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 285,210
- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
285,210
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
4
<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 --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 135,398(1)
- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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)
1.1%
- --------------------------------------------------------------------------------
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 a self-directed IRA.
5
<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 24,200
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 24,200
- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
24,200
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
6
<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 --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 7,142(1)
- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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 7
<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 103,000
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 103,000
- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
103,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 8
<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 42,800
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 42,800
- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
42,800
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 9
<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 123,000
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 123,000
- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
123,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 10
<PAGE>
TENDER OFFER
This Amendment No. 3 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. 4 to the Schedule 13D originally filed on December 23, 1999, as
amended.
The joint tender offer expired at 12:00 noon, New York City time, on
March 9, 2000. Based on the final count of First Union National Bank, the
depositary for the offer, 8,755,791 Shares were validly tendered to the joint
tender offer and not withdrawn (including shares tendered pursuant to a
guarantee of delivery), which together with shares already owned equal
approximately 90.15% of the issued and outstanding Shares. The Company and
Acquisition have accepted for payment such tendered and not withdrawn Shares. In
accordance with the terms of the offer, the Company and Acquisition have
instructed the depositary to pay promptly the purchase price of $21.50 per Share
for each Share accepted for payment.
ITEM 11. ADDITIONAL INFORMATION.
Item 11 is hereby amended and supplemented by incorporating by reference
therein the press release issued by the Company on March 9, 2000, a copy of
which is filed herewith as Exhibit (a)(11) 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)(11) Press Release of the Company, dated March 9, 2000.
Page 11
<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
ITEM DESCRIPTION
(a)(11) Press Release of the Company, dated March 9, 2000.
Page 12
<PAGE>
Exhibit (a)(11)
Contact: Andrew M. Weller - (312) 280-8844
TRANSPORTATION TECHNOLOGIES ANNOUNCES
CLOSING OF TENDER OFFERS FOR ITS SHARES AND NOTES
CHICAGO, ILLINOIS, March 10, 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 manage ment, have accepted for purchase and payment,
pursuant to their joint tender offer for all outstanding shares of common stock
of Transportation Technologies at $21.50 per share in cash, all shares of
Transportation Technologies which were validly tendered and not withdrawn as of
the expiration of their joint tender offer at 12:00 noon, New York City time, on
March 9, 2000. According to the depositary for the offer, 8,755,791
Transportation Technologies shares were validly tendered pursuant to the joint
tender offer and not withdrawn (including shares tendered pursuant to a
guarantee of delivery), which together with shares already owned equal approxi
mately 90.15% of the total issued and outstanding Transportation Technologies
shares. Payment for the tendered shares has been delivered to the depositary for
the tender offer.
Transportation Technologies also announced today that it has accepted for
purchase and payment, pursuant to its tender offers for all its outstanding 11
3/4% Senior Subordinated Notes Due 2005 and all of its outstanding 11 3/4%
Series C Senior Subordinated Notes Due 2005, all of the Notes which were validly
tendered and not withdrawn as of the expiration of its offers at 12:00 noon, New
York City time, on March 9, 2000. According to the depositary for the offers,
all $178,500,000 of such notes were validly tendered to the tender offers and
not withdrawn (including Notes tendered pursuant to a guarantee of delivery).
Those Noteholders who validly tendered, and did not withdraw, their Notes prior
to 5:00 p.m., New York City time, on February 17, 2000, will receive $1,079.07
(which includes a consent fee of $25) per $1,000 principal amount of the Notes
validly tendered, and Noteholders who validly tendered, and did not withdraw,
their Notes prior to 12:00 noon, New York City time, on March 9, 2000 will
receive $1,054.07 per $1,000 principal amount of the Notes validly tendered.
Payment for the tendered Notes has been delivered to the depositary for the
offers.
The tender offers will be followed by a merger of Transportation
Acquisition I Corp. with and into Transportation Technologies. Pursuant to the
merger, those Transportation Technolo gies stockholders who did not tender their
shares in the joint tender offer and who do not seek appraisal rights of their
shares pursuant to applicable provisions of Delaware law will have their shares
converted into the right to receive $21.50 per share net to each stockholder in
cash. Payment of such amount will be made following the merger upon proper
presentation of certificates representing their shares to First Union National
Bank, the Paying Agent for the merger, together with a properly completed letter
of transmittal.
<PAGE>
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 SOLICITA TION OF AN
OFFER TO SELL SHARES OF THE COMPANY. TRANSPORTATION ACQUISITION I CORP. AND THE
COMPANY HAVE FILED A TENDER OFFER STATE MENT 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 CON TAIN IMPORTANT INFORMATION
WHICH SHOULD BE READ CAREFULLY BEFORE ANY DECISION IS MADE WITH RESPECT TO THE
OFFER. THE OFFER TO PUR CHASE, 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 SOLICITA TION/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 STATE MENT, DATED FEBRUARY 3, 2000, AND THE RELATED LETTER
OF TRANSMITTAL AND CONSENT, AS THE SAME MAY BE AMENDED FROM TIME TO TIME.
# # #
