-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IfHWAHHt5N7iBZWLNWzp2brp4EmchRV2bVCLyrZ5f9wG1ejL6g6sU2kyUJ6Y1nu+ FQRTtEZYIzFf6YVeqgJHwg== /in/edgar/work/20000808/0001036050-00-001425/0001036050-00-001425.txt : 20000921 0001036050-00-001425.hdr.sgml : 20000921 ACCESSION NUMBER: 0001036050-00-001425 CONFORMED SUBMISSION TYPE: 425 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000808 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BELL ATLANTIC CORP CENTRAL INDEX KEY: 0000732712 STANDARD INDUSTRIAL CLASSIFICATION: [4813 ] IRS NUMBER: 232259884 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 425 SEC ACT: SEC FILE NUMBER: 001-08606 FILM NUMBER: 688723 BUSINESS ADDRESS: STREET 1: 1095 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2123952121 MAIL ADDRESS: STREET 1: 1717 ARCH ST 47TH FL STREET 2: 1717 ARCH ST 47TH FL CITY: PHILADELPHIA STATE: PA ZIP: 19103 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BELL ATLANTIC CORP CENTRAL INDEX KEY: 0000732712 STANDARD INDUSTRIAL CLASSIFICATION: [4813 ] IRS NUMBER: 232259884 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 425 BUSINESS ADDRESS: STREET 1: 1095 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2123952121 MAIL ADDRESS: STREET 1: 1717 ARCH ST 47TH FL STREET 2: 1717 ARCH ST 47TH FL CITY: PHILADELPHIA STATE: PA ZIP: 19103 425 1 0001.txt BUSINESS COMBINATION TRANSACTION Filed by Bell Atlantic Corporation (d/b/a Verizon Communications) pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant Rule 14a-12 of the Securities Exchange Act of 1934 Commission File No: 1-8606 Subject Company: Bell Atlantic Corporation On August 8, 2000, Bell Atlantic Corporation (d/b/a Verizon Communications) and NorthPoint Communications Group, Inc. disseminated the following slides. [VERIZON LOGO] INVESTMENT COMMUNITY MEETING AUGUST 8, 2000 [VERIZON LOGO] LARRY BABBIO VICE CHAIRMAN AND PRESIDENT - TELECOM 2 STRATEGIC BENEFITS [VERIZON LOGO] [NORTHPOINT LOGO] - -------------------------------------------------------------------------------- o SPEED TO MARKET o SCALE AND SCOPE EFFICIENCIES o NATIONAL BROADBAND o PUBLIC EQUITY HIGHLIGHTS VALUE o MANAGEMENT TEAM 3 TRANSACTION SUMMARY [VERIZON LOGO] [NORTHPOINT LOGO] - -------------------------------------------------------------------------------- o VERIZON BRINGS - DSL OPERATION AND ASSETS - $800M IN CASH o INCLUDES $350M TO NORTHPOINT SHAREHOLDERS o OWNERSHIP - VERIZON - 55% - NORTHPOINT SHAREHOLDERS - 45% o NORTHPOINT WILL CONTINUE TO BE PUBLICLY TRADED o GOVERNANCE 4 NEW COMPANY PROFILE [VERIZON LOGO] [NORTHPOINT LOGO] - -------------------------------------------------------------------------------- As of 6/30/00 VERIZON NORTHPOINT TOTAL - ----------------------------------------------------------------------------- DSL Subscribers 221,000 62,000 283,000 Central Offices Deployed 1,760 1,505 3,265* *Unique central offices deployed is approx. 2,600 PRESENCE IN 141 MSAS; APPROX. 55M HOMES AND BUSINESSES PASSED 5 FINANCIAL IMPLICATIONS [VERIZON LOGO] [NORTHPOINT LOGO] - -------------------------------------------------------------------------------- o PURCHASE ACCOUNTING FOR TRANSACTION o VERIZON WILL CONSOLIDATE RESULTS o IMPACT ON VERIZON FINANCIALS - APPROX. $.14 - $.18 DILUTION IN 2001 - APPROX. $.10 - $.12 DILUTION IN 2002 6 [NORTHPOINT LOGO] NORTHPOINT (R) LIZ FETTER PRESIDENT AND CEO 7 A GROUNDBREAKING DEAL [VERIZON LOGO] [NORTHPOINT LOGO] - -------------------------------------------------------------------------------- A TRANSFORMATIONAL COMBINATION OF ENTREPRENEURSHIP, SCALE AND FUNDING 8 THE NORTHPOINT DSL VISION [VERIZON LOGO] [NORTHPOINT LOGO] - -------------------------------------------------------------------------------- TO BE THE PREMIER, GLOBAL BROADBAND SERVICES PROVIDER o Build and grow a robust, best-of-breed broadband business o Revolutionize the role of the Internet on people's lives around the globe o Aggressively build long-term value 9 NORTHPOINT PROFILE [VERIZON LOGO] [NORTHPOINT LOGO] - -------------------------------------------------------------------------------- LEADING BROADBAND SERVICES PROVIDER o Founded in May 1997 o Industry Leading Network - Fastest Deployment o Winning Business Strategy o Industry leader on the path to profitability - 4 EBITDA positive markets - All ahead of schedule o World Class Management Team 10 NORTHPOINT [VERIZON LOGO] [NORTHPOINT LOGO] - -------------------------------------------------------------------------------- THE INDUSTRY LEADER..... FIRST TO o Nationwide backbone o End to end OSS system o International leadership o Profitability 11 STRATEGY [VERIZON LOGO] [NORTHPOINT LOGO] - -------------------------------------------------------------------------------- o Build a national network o Scale the business o Maintain customer focus and execution o Ensure access to capital 12 BENEFITS TO [VERIZON LOGO] [NORTHPOINT LOGO] NORTHPOINT SHAREHOLDERS - -------------------------------------------------------------------------------- o Double our footprint o More than quadruple our LEADING customer base = BROADBAND PROVIDER o Double our employee size 13 [VERIZON LOGO] LARRY BABBIO VICE CHAIRMAN AND PRESIDENT - TELECOM 14 NEXT STEPS [VERIZON LOGO] [NORTHPOINT LOGO] - -------------------------------------------------------------------------------- o Regulatory approvals o Shareholder vote o Integration CLOSING ANTICIPATED BY MID-2001 15 [VERIZON LOGO] [NORTHPOINT LOGO] Q & A SESSION 16 "SAFE HARBOR" STATEMENT [VERIZON LOGO] --------------------------------------------------------------------------- The presentations contain statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The following important factors could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: materially adverse changes in economic conditions in the markets served by us or by companies in which we have substantial investments; material changes in available technology; the final outcome of federal, state, and local regulatory initiatives and proceedings, including arbitration proceedings, and judicial review of those initiatives and proceedings, pertaining to, among other matters, the terms of interconnection, access charges, universal service, and unbundled network element and resale rates; the extent, timing, success, and overall effects of competition from others in the local telephone and toll service markets; the timing and profitability of our entry into the in-region long distance market; our ability to combine former Bell Atlantic and GTE operations, satisfy regulatory conditions and obtain revenue enhancements and cost savings following the merger; the profitability of our entry into the nationwide broadband access market, including the impact of our transaction with NorthPoint; the ability of Verizon Wireless to combine operations and obtain revenue enhancements and cost savings; and our ability to convert our ownership interest in Genuity Inc. into a controlling interest consistent with regulatory conditions, and Genuity's ensuing profitability. 17 -----END PRIVACY-ENHANCED MESSAGE-----