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SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
Filed by the Registrant /X/
Filed by a Party other than the Registrant / /
Check the appropriate box:
/ / Preliminary Proxy Statement
/ / Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
/ / Definitive Proxy Statement
/X/ Definitive Additional Materials
/ / Soliciting Material Pursuant to Section 240.14a-11(c) or Section
240.14a-12
TELEDYNE, INC.
- --------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
- --------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
/ / $125 per Exchange Act Rules 0-11(c)(1)(ii), 14a-6(i)(1), 14a-6(i)(2) or
Item 22(a)(2) of Schedule 14A.
/ / $500 per each party to the controversy pursuant to Exchange Act Rule
14a-6(i)(3).
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(4)
and 0-11.
1) Title of each class of securities to which transaction applies:
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2) Aggregate number of securities to which transaction applies:
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3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):
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4) Proposed maximum aggregate value of transaction:
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5) Total fee paid:
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/X/ Fee paid previously with preliminary materials.
/ / Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
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2) Form, Schedule or Registration Statement No.:
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3) Filing Party:
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4) Date Filed:
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[LOGO] TELEDYNE, INC.
NEWS RELEASE
FOR IMMEDIATE RELEASE CONTACT: Rosanne O'Brien
Teledyne, Inc.
310/551-4265
TELEDYNE TO SCHEDULE SPECIAL SHAREHOLDERS MEETING TO
VOTE ON STRATEGIC COMBINATION WITH ALLEGHENY LUDLUM
LOS ANGELES, California., May 1, 1996 -- Teledyne, Inc. (NYSE:TDY)
announced today that it will schedule a special meeting of shareholders to
approve its strategic combination with Allegheny Ludlum Corporation to form
Allegheny Teledyne Incorporated.
Under terms of the combination agreement, Teledyne shareholders will
receive 1.925 shares of common stock in Allegheny Teledyne for each share of
Teledyne common stock. Allegheny Ludlum shareholders will receive one share of
Allegheny Teledyne for each share of Allegheny Ludlum common stock. The
transaction is subject to regulatory and shareholder approvals.
In announcing the combination agreement on April 1, 1996, Teledyne stated
that it had postponed its annual shareholders meeting scheduled for April 24.
Since that announcement, Allegheny Ludlum has announced that it has postponed
its annual meeting, which was scheduled for May 17, and will schedule a special
meeting to vote on the pending strategic combination.
A joint proxy statement/prospectus describing the proposed transaction will
be furnished to shareholders of both companies in advance of these meetings.
Teledyne, Inc. is a technology-based manufacturing corporation serving
worldwide customers with commercial and government-related aviation and
electronics products; specialty metals for consumer, industrial and aerospace
applications; and industrial and consumer products.
# # #
Teledyne Corporate Relations Department
2049 Century Park East
Los Angeles, CA 90067-3101
Telephone 310-551-4268
