UNITED STATES
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)
Analysts International Corporation
(Name of Subject Company (Issuer))
American CyberSystems, Inc.
ACS Merger Corp.
(Names of Filing Persons (Offerors))
Common Stock, Par Value $0.10 Per
Share
(Title of Class of Securities)
032681207
(CUSIP Number of Class of Securities)
Sanjeev Sardana
American CyberSystems, Inc.
2400 Meadowbrook Parkway
Duluth, GA 30096
Tel: (770) 493-5588
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications
on Behalf of Filing Persons)
Copy to:
Michael J. Cochran, Esq.
Jay V. Shah, Esq.
Derek B. Swanson, Esq.
McKenna Long & Aldridge LLP
303 Peachtree Street NW
Atlanta, GA 30308
(404) 527-4000
CALCULATION OF FILING FEE
Transaction Valuation (1) | Amount of Filing Fee (2) |
$35,502,535 | $4,843 |
(1) | Estimated solely for purposes of calculating the filing fee. The transaction value was determined by multiplying (x) $6.45 (i.e., the tender offer price) by (y) 5,504,269 the estimated maximum number of shares of the Company common stock to be acquired in the tender offer. |
(2) | The filing fee was calculated in accordance with Rule 0-11 of the Securities Exchange Act of 1934, as amended, and Fee Rate Advisory #1 for Fiscal Year 2013, issued August 31, 2012, by multiplying the transaction value by 0.0001364. |
S | Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) of the Securities Exchange Act of 1934 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: $4,843 | Filing Party: American CyberSystems, Inc., ACS Merger Corp. | ||
Form or Registration No.: Schedule TO | Date Filed: September 3, 2013 |
£ | 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:
S | third-party tender offer subject to Rule 14d-1. |
£ | issuer tender offer subject to Rule 13e-4. |
£ | going-private transaction subject to Rule 13e-3. |
£ | amendment to Schedule 13D under Rule 13d-2. |
Check the following box if the filing is a final amendment reporting the results of the tender offer: £
This Amendment No. 2 amends and supplements the Tender Offer Statement on Schedule TO filed with the U.S. Securities and Exchange Commission (the “SEC”) on September 3, 2013 and amended by Amendment No. 1 to Schedule TO filed with the SEC on September 11, 2013 (as amended, the “Schedule TO”), and relates to the offer by American CyberSystems, Inc., a Georgia corporation (“Parent”), and ACS Merger Corp, a Minnesota corporation (“Purchaser”) and a wholly-owned subsidiary of Parent, to purchase all of the outstanding shares of common stock, par value $0.10 per share (the “Shares”), of Analysts International Corporation, a Minnesota corporation (“Analysts”), at a purchase price of $6.45 per Share, net to the seller in cash, without interest thereon and less any required withholding taxes, upon the terms and subject to the conditions set forth in the Offer to Purchase dated September 3, 2013 (which, together with any amendments and supplements thereto, collectively constitute the “Offer to Purchase”) and in the related Letter of Transmittal, copies of which are attached to the Schedule TO as Exhibits (a)(1)(A) and (a)(1)(B), respectively (which, together with the Offer to Purchase, as each may be amended or supplemented from time to time, collectively constitute the “Offer”). The Schedule TO (including the Offer to Purchase) and the Solicitation/Recommendation Statement on Schedule 14D-9 filed with the SEC by Analysts on September 3, 2013, contain important information about the Offer, all of which should be read carefully by Analysts’ stockholders before any decision is made with respect to the Offer. The Offer is made pursuant to the Agreement and Plan of Merger, dated as of August 27, 2013, among Parent, Purchaser and Analysts.
Documentation relating to the Offer has been mailed to stockholders of Analysts and may be obtained at no charge at the website maintained by the SEC at www.sec.gov and may also be obtained at no charge by directing a request by mail to Alliance Advisors, 200 Broadacres Drive, 3rd Floor, Bloomfield, NJ 07003, or by calling toll-free at (855) 325-6670 (banks or brokers should call (973) 873-7721).
All information set forth in the Offer to Purchase and the related Letter of Transmittal is incorporated by reference in answer to Items 1 through 12 in the Schedule TO and remains unchanged, except those items as to which information is specifically provided herein, which are amended and supplemented to the extent specifically provided herein. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Offer to Purchase.
Items 1 and 4. Summary Term Sheet; Terms of the Transaction.
Items 1 and 4 of the Schedule TO are hereby amended and supplemented by adding the following:
“On October 1, 2013, the Parent and the Company announced that Parent and the Purchaser had extended the Expiration Date of the Offer until 11:59 P.M., New York City time, on October 7, 2013, unless further extended or withdrawn. A copy of the press release is filed as Exhibit (a)(5) to the Schedule TO and is incorporated herein by reference.”
ITEM 12. EXHIBITS.
Item 12 of the Schedule TO is hereby amended and supplemented by inserting the following exhibits:
(a)(5) | Joint Press Release issued by American CyberSystems, Inc. and Analysts International Corporation on October 1, 2013** |
SIGNATURES
After due 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.
Dated: October 1, 2013
AMERICAN CYBERSYSTEMS, INC. | ||
By: | /s/ Rajiv Sardana | |
Name: Rajiv Sardana Title: Chief Executive Officer |
ACS MERGER CORP. | ||
By: | /s/ Rajiv Sardana | |
Name: Rajiv Sardana Title: Chief Executive Officer |
EXHIBIT INDEX
(a)(1)(A) | Offer to Purchase, dated September 3, 2013* |
(a)(1)(B) | Form of Letter of Transmittal* |
(a)(1)(C) | Form of Notice of Guaranteed Delivery* |
(a)(1)(D) | Form of Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees* |
(a)(1)(E) | Form of Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees* |
(a)(1)(F) | Joint Press Release issued by American CyberSystems, Inc. and Analysts International Corporation on August 28, 2013 (incorporated herein by reference to Exhibit 99.1 to the Schedule TO-C filed by Purchaser on August 28, 2013) |
(a)(1)(G) | Internal Revenue Service Substitute Form W-9 (Request for Taxpayer Identification Number and Certification), including instructions for completing the form* |
(a)(1)(H) | Summary Advertisement, published on September 3, 2013 in Wall Street Journal* |
(a)(1)(I) | Form of Letter of Instruction to 401(k) Participants* |
(a)(2) | Not applicable |
(a)(3) | Not applicable |
(a)(4) | Not applicable |
(a)(5) | Joint Press Release issued by American CyberSystems, Inc. and Analysts International Corporation on October 1, 2013** |
(d)(1) | Agreement and Plan of Merger, dated as of August 27, 2013, among Parent, Purchaser and the Company (incorporated by reference to the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on August 28, 2013) |
(d)(2) | Exclusivity Agreement, dated August 7, 2013, between the Company and Parent (incorporated by reference to Exhibit (e)(4) of the Solicitation/Recommendation Statement on Schedule 14D-9 filed by the Company with the Securities and Exchange Commission on September 3, 2013) |
(d)(3) | Confidentiality Agreement, dated as of April 30, 2013, between the Company and Parent (incorporated by reference to Exhibit (e)(2) of the Solicitation/Recommendation Statement on Schedule 14D-9 filed by the Company with the Securities and Exchange Commission on September 3, 2013) |
(d)(4) | Confidentiality Agreement, dated as of June 11, 2013, between the Company and Parent (incorporated by reference to Exhibit (e)(3) of the Solicitation/Recommendation Statement on Schedule 14D-9 filed by the Company with the Securities and Exchange Commission on September 3, 2013) |
(d)(5) | Debt Commitment Letter, dated as of August 26, 2013, from Fifth Third Bank to Parent* |
(d)(6) | Debt Commitment Letter, dated as of August 26, 2013, from Bank of America, N.A. to Fifth Third Bank* |
(d)(7) | Debt Commitment Letter, dated as of August 23, 2013, from First Tennessee Bank to Fifth Third Bank* |
(d)(8) | Debt Commitment Letter dated as of August 22, 2013, from Synovus Bank to Fifth Third Bank* |
(d)(9) | Shareholder Tender and Support Agreement, dated August 27, 2013, by and between Brittany B. McKinney and Parent* |
(d)(10) | Shareholder Tender and Support Agreement, dated August 27, 2013, by and between Robert E. Woods and Parent* |
(d)(11) | Shareholder Tender and Support Agreement, dated August 27, 2013, by and between Joseph T. Dunsmore and Parent* |
(d)(12) | Shareholder Tender and Support Agreement, dated August 27, 2013, by and between Krzysztof K. Burhardt and Parent* |
(d)(13) | Shareholder Tender and Support Agreement, dated August 27, 2013, by and between Douglas C. Neve and Parent* |
(d)(14) | Shareholder Tender and Support Agreement, dated August 27, 2013, by and between Brigid A. Bonner and Parent* |
(d)(15) | Shareholder Tender and Support Agreement, dated August 27, 2013, by and between Galen G. Johnson and Parent* |
(d)(16) | Amendment No. 2 to Amended and Restated Rights Agreement (incorporated by reference to Exhibit 4.1 to Form 8-K filed by the Company with the Securities and Exchange Commission on August 28, 2013) |
(d)(17) | Retention/Transaction Bonus Agreement, dated August 27, 2013, by and between Brittany B. McKinney and the Company (incorporated by reference to Exhibit 10.1 to Form 8-K filed by the Company with the Securities and Exchange Commission on August 28, 2013) |
(d)(18) | Retention/Transaction Bonus Agreement, dated August 27, 2013, by and between Lynn L. Blake and the Company (incorporated by reference to Exhibit 10.2 to Form 8-K filed by the Company with the Securities and Exchange Commission on August 28, 2013) |
(d)(19) | Amendment Number One to Change in Control Severance Pay Plan, dated August 27, 2013 (incorporated by reference to Exhibit 10.3 to Form 8-K filed by the Company with the Securities and Exchange Commission on August 28, 2013) |
(g) | Not applicable |
(h) | Not applicable |
* Previously filed
** Filed herewith
Exhibit (a)(5)
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Media Contacts:
Clara Abdurazak
American CyberSystems, Inc.
678.553.8930
Clara.abdurazak@acsicorp.com
Marne Oberg
Analysts International Corporation
952.838.2867
moberg@analysts.com
American CyberSystems Extends Tender Offer
For Shares of Analysts International Corporation
ATLANTA and MINNEAPOLIS — October 1, 2013 —American CyberSystems, Inc. (ACS), a global information technology services company, and Analysts International Corporation (AIC) (Nasdaq: ANLY), a leading information technology services company, today announced that ACS has extended the expiration date for the tender offer by ACS and ACS Merger Corp., a wholly owned subsidiary of ACS (Purchaser), for all of the outstanding shares of common stock of AIC at a price of $6.45 per share net to the holder in cash, without interest and less any required withholding and transfer taxes, until 11:59 p.m., New York City time, on Monday, October 7, 2013. ACS is extending the expiration date of the offer to finalize and execute documentation related to ACS’s financing of the offer.
The offer had been previously scheduled to expire at 11:59 p.m., New York City time, on Monday, September 30, 2013. The tender offer was initiated pursuant to an Offer to Purchase and related Letter of Transmittal, each dated September 3, 2013, and an Agreement and Plan of Merger, dated as of August 27, 2013, among ACS, AIC and Purchaser (the “Merger Agreement”).
The depositary for the tender offer has advised ACS that as of 11:59 p.m., New York City time, on September 30, 2013, approximately 4,111,950 Shares had been tendered and not withdrawn pursuant to the tender offer. The tendered Shares represent approximately 80% of the outstanding Shares.
About American CyberSystems, Inc.
Founded in 1998, American CyberSystems, Inc. is a global information technology services company offering IT consulting and staffing services, systems integration and business solutions to organizations in a variety of industries. Through its extensive resource pool and global recruitment centers, ACS offers unparalleled expertise in delivering solutions for Fortune 1000 companies worldwide. ACS works in partnership with clients to understand their challenges, share their vision and deliver mission specific solutions. For more information about American CyberSystems, please visit http://www.acsicorp.com/.
About Analysts International Corporation
Analysts International Corporation is an IT services firm fully dedicated to the success and satisfaction of its clients. From
IT staffing to project-based solutions, AIC provides a broad range of services designed to help businesses and government agencies
drive value, control costs and deliver on the promise of a more efficient and productive enterprise. AIC offers a flexible, collaborative
approach; clear industry perspective; and the breadth, scale and experience to deliver results. For more information, visit http://www.analysts.com/Pages/default.aspx.
Additional Information
This communication is neither an offer to purchase nor solicitation of an offer to sell securities. ACS and Purchaser have filed a tender offer statement on Schedule TO with the Securities and Exchange Commission (the “SEC”), and AIC has filed a solicitation/recommendation statement on Schedule 14D-9, 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 that should be read carefully before any decision is made with respect to the tender offer. Those materials have been made available to AIC’s stockholders at no expense to them. In addition, all of those materials (and all other offer documents filed with the SEC) are available at no charge on the SEC’s website: www.sec.gov.
Forward-Looking Statements
This press release contains forward-looking statements that are not historical facts and are subject to risks and uncertainties that could cause actual results to differ materially from those described. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Without limiting the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate” or “continue,” or comparable terminology, are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding the anticipated benefits of the transaction; statements regarding the anticipated timing of filings and approvals relating to the transaction; statements regarding the expected timing of the completion of the transaction; and any statements of assumptions underlying any of the foregoing. All forward-looking statements are based largely on current expectations and beliefs concerning future events, approvals and transactions that are subject to substantial risks and uncertainties. Factors that may cause or contribute to the actual results or outcomes being different from those contemplated by forward-looking statements include: risks and uncertainties associated with the tender offer, including uncertainties as to the timing of the tender offer and merger, uncertainties as to how many of AIC’s shareholders will tender their shares in the offer, the risk that competing offers will be made, and the possibility that various closing conditions for the transaction may not be satisfied or waived. Other factors that may cause AIC’s actual results to differ materially from those expressed or implied in the forward-looking statements are discussed in AIC’s filings with the SEC, including in its periodic reports filed on Form 10-K and Form 10-Q with the SEC. Such factors include (i) the risk that management may not fully or successfully implement its business plan or maintain profitability in the future; (ii) the risk that AIC will not be able to realize the benefits of its investments or exploit other opportunities of the business in a timely manner or on favorable terms; (iii) prevailing market conditions in the IT services industry, including intense competition for billable technical personnel at competitive rates, strong pricing pressures from many of our largest clients and difficulty in identifying, attracting and retaining qualified billable technical personnel; (iv) potentially incorrect assumptions by management with respect to the financial effect of prior cost reduction initiatives and current strategic decisions; and (v) other economic, business, market, financial, competitive and/or regulatory factors affecting AIC’s business generally, including those set forth in AIC’s filings with the SEC. Copies of AIC’s filings with the SEC may be obtained at the “Investor Relations” section of AIC’s website at www.analysts.com. The forward-looking statements made in this release are made only as of the date of this release, and AIC undertakes no obligation to update them to reflect subsequent events or circumstances.
The Information Agent for the Offer is Alliance
Advisors. Please call toll free: 855-325-6670.
Banks & Brokers call: 973-873-7721 or E-mail: reorg@allianceadvisorsllc.com