-----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, Au5/kkbgZ855z7C83QscTHOm3CXs35heTtzZp2rS6uuQentxPJJjEDAdZsqYCcaR K6X4EP1rTAe1jQDrL2eUdw== 0000897446-98-000110.txt : 19981207 0000897446-98-000110.hdr.sgml : 19981207 ACCESSION NUMBER: 0000897446-98-000110 CONFORMED SUBMISSION TYPE: SC 14D9/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19981204 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BRC HOLDINGS INC CENTRAL INDEX KEY: 0000205219 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 751533071 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D9/A SEC ACT: SEC FILE NUMBER: 005-09063 FILM NUMBER: 98764464 BUSINESS ADDRESS: STREET 1: 1111 W MOCKINGBIRD LN STREET 2: STE 1400 CITY: DALLAS STATE: TX ZIP: 75247 BUSINESS PHONE: 2146881800 MAIL ADDRESS: STREET 1: 1111W MOCKINGBIRD LANE STREET 2: SUITE 1400 CITY: DALLAS STATE: TX ZIP: 75247 FORMER COMPANY: FORMER CONFORMED NAME: BUSINESS RECORDS CORPORATION HOLDING CO DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: CRONUS INDUSTRIES INC DATE OF NAME CHANGE: 19900813 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MATADOR CAPITAL MANAGEMENT CORP/FL CENTRAL INDEX KEY: 0001054608 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 14D9/A BUSINESS ADDRESS: STREET 1: 200 FIRST AVE NORTH STREET 2: SUITE 206 CITY: ST PETERSBURG STATE: FL ZIP: 33701 BUSINESS PHONE: 8138989300 MAIL ADDRESS: STREET 1: 200 FIRST AVE N STREET 2: SUITE 206 CITY: ST PETERSBURG STATE: FL ZIP: 33701 SC 14D9/A 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________ SCHEDULE 14D-9 Solicitation/Recommendation Statement Pursuant to Section 14(d)(4) of the Securities Exchange Act of 1934 (Amendment No. 4) ______________ BRC HOLDINGS, INC. (Name of Subject Company) ______________ MATADOR CAPITAL MANAGEMENT CORPORATION EVERGLADES PARTNERS, L.P. JEFFREY A. BERG (Name of Person(s) Filing Statement) ______________ COMMON STOCK, $.10 PAR VALUE (Title of Class of Securities) 227174-10-9 (CUSIP Number of Class of Securities) ______________ David Fink Matador Capital Management Corporation 200 1st Avenue North Suite 206 St. Petersburg, FL 33701 (813) 898-9300 (Name, Address and Telephone Number of Person Authorized to Receive Notice and Communications on Behalf of the Person(s) Filing Statement) WITH COPIES TO: Leon P. Gold, Esq. Carolyn S. Reiser, Esq. Proskauer Rose LLP Shartsis, Friese & Ginsburg LLP 1585 Broadway One Maritime Plaza New York, New York 10036 18th Floor (212) 969-3480 San Francisco, CA 94111 (415) 421-6500 This Amendment No. 4 amends the Solicitation/Recommendation Statement on Schedule 14D-9 filed on November 23, 1998 by Matador Capital Management Corporation ("MCMC") and Jeffrey A. Berg, as previously amended (the "Schedule 14D-9"), in connection with a tender offer made by ACS Acquisition Corporation, a Delaware corporation and a wholly-owned subsidiary of Affiliated Computer Services, Inc., a Delaware corporation, to purchase 8,704,238 shares of common stock, par value $.01 per share (the "Shares"), of BRC Holdings, Inc. ("BRCP") disclosed in a Tender Offer Statement on Schedule 14D-1, dated October 23, 1998, as amended through December 3, 1998 (the "Offer"). The following information supplements the Schedule 14D-9. ITEM 4. THE SOLICITATION OR RECOMMENDATION MCMC sent a letter, dated December 4, 1998, to the Board of Directors of BRCP proposing that MCMC (through an affiliated entity) acquire all the outstanding stock of BRCP at a price of $21 per share. A copy of the letter is filed as Exhibit 4 hereto. ITEM 9. MATERIAL TO BE FILED AS EXHIBITS Exhibit 4. Letter, dated December 4, 1998, from MCMC to the Board of Directors of BRCP. SIGNATURE AFTER REASONABLE 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. MATADOR CAPITAL MANAGEMENT CORPORATION By: /s/ Jeffrey A. Berg Jeffrey A. Berg, President /s/ Jeffrey A. Berg Jeffrey A. Berg EVERGLADES PARTNERS, L.P. By: Matador Capital Management, L.P., its general partner By: Everglades Capital Corporation, its general partner By: /s/ Jeffrey A. Berg Jeffrey A. Berg, President Date: December 4, 1998 Exhibit 4 December 4, 1998 Board of Directors BRC Holdings, Inc. 1111 W. Mockingbird Lane Suite 1400 Dallas, Texas 75247 Gentlemen: Matador Capital Management hereby proposes to acquire, through an affiliated entity, all of the outstanding stock of BRC Holdings, Inc. ("BRC") at a price of $21 per share. The $21 proposal would be subject to the completion of due diligence, execution of definitive documentation and completion of financing for the transaction. In connection with such financing, we have held discussions with several financing sources, which have indicated a high degree of interest in providing a significant portion of the equity financing required for such a transaction. Matador believes that the combination of equity and debt available through its own resources and other financing sources will be sufficient to complete this deal. The financing source that would likely be the lead investor is a private equity investment firm that currently manages in excess of $1.5 billion through several limited partnerships. Over its twenty-five year history, it has completed almost 100 transactions in a variety of service and industrial businesses. We are highly motivated to move expeditiously to close this transaction. In order to facilitate our proposal, we hereby request access for ourselves, and our financing sources, to confidential information relating to BRC including the right to meet with senior company officers. Matador, and its financial advisor, Jefferies & Company, Inc., and its financing sources are prepared to meet immediately with the Company's President and Chief Operating Officer to accelerate its due diligence. Since time is of the essence, we respectfully request an immediate reply. Sincerely, Matador Capital Management Corporation By: /s/ Jeffrey A. Berg Jeffrey A. Berg, President Attachment AFFILIATED INVESTORS / BOARD Several individual investors who will take an active role on the Board, in addition to representatives of the financing sources, include the following: -- Robert J. Levenson has been Director of First Data Corporation (NYSE FDC) since 1992. He has been Executive Vice President of First Data Corporation from 1993 to the present. Former Senior Executive Vice President, Chief Operating Officer, and Member of the Office of the President and Director of Medco Containment Services, Inc., a provider of managed care prescription benefits, from October 1990 to December 1992 (Medco was acquired by Merck in a $6 billion transaction). From 1985 until October 1990, he was a Group President and Director of ADP (NYSE ADP). Mr. Levenson is a Director of Superior TeleCom, Inc., Vestcom International, Inc. (OTC VESC), and Emisphere Technologies, Inc. (OTC EMIS). -- Curtis Lee Smith, Jr. is Chairman of the Board and Chief Executive Officer of New Horizons Worldwide (OTC-NEWH), North America's largest and fastest growing software training company. Mr. Smith has served as the Company's Chairman of the Board and Chief Executive Officer and as a Director since July 1986, and had the additional title and duties of President from August 1989 through July 1992. Mr. Smith served as President of National Copper & Smelting Co., a Cleveland, Ohio-based manufacturer and distributor of copper products from 1962 to 1985. Mr. Smith also serves as a Director of Dental Care Alliance (OTC DENT) and Strategic Diagnostics, Inc. (OTC SDIX), both public companies. -----END PRIVACY-ENHANCED MESSAGE-----