-----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, FpQ1u4N/u/7aF5q1032aBbsg9Dn9cwtcLASMLCzkTLkG2jVM2afRBeXSNsouynLJ U4pRWu1CPtGLEZr39CkthQ== 0000950124-07-003270.txt : 20070614 0000950124-07-003270.hdr.sgml : 20070614 20070614165322 ACCESSION NUMBER: 0000950124-07-003270 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20070614 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20070614 DATE AS OF CHANGE: 20070614 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COVANSYS CORP CENTRAL INDEX KEY: 0001028461 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 382606945 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22141 FILM NUMBER: 07920470 BUSINESS ADDRESS: STREET 1: 32605 W TWELVE MILE RD STREET 2: STE 250 CITY: FARMINGTON HILLS STATE: MI ZIP: 48334 BUSINESS PHONE: 2484882088 MAIL ADDRESS: STREET 1: 32605 WEST TWELVE MILE ROAD STREET 2: SUITE 250 CITY: FARMINGTON HILLS STATE: MI ZIP: 48334 FORMER COMPANY: FORMER CONFORMED NAME: COMPLETE BUSINESS SOLUTIONS INC DATE OF NAME CHANGE: 19961206 8-K 1 k15969e8vk.htm CURRENT REPORT, DATED JUNE 14, 2007 e8vk
 

 
 
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): June 14, 2007
COVANSYS CORPORATION
(Exact Name of Registrant as Specified in its Charter)
MICHIGAN
(State or Other Jurisdiction of Incorporation)
     
0-22141   38-2606945
(Commission File Number)   (I.R.S. Employee Identification Number)
32605 WEST TWELVE MILE ROAD, SUITE 250, FARMINGTON HILLS, MI 48334
(Address of Principal Executive Office) (Zip Code)
(248) 488-2088
(Registrant’s Telephone Number, Including Area Code)
None
(Former Name and Former Address, if Change Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 140.14a.12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 7.01 REGULATION FD DISCLOSURE
On June 14, 2007, Covansys Corporation issued a press release announcing the expiration of the Hart-Scott-Rodino Waiting Period in connection with the proposed acquisition of Covansys by Computer Sciences Corporation. A copy of the press release is attached as Exhibit 99.1 to this current report.
This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned duly authorized.
             
    Covansys Corporation    
 
           
Dated: June 14, 2007
  By:   /s/ James S. Trouba    
 
     
 
James S. Trouba
Chief Financial Officer
   

 


 

EXHIBIT INDEX
     
EXHIBIT NO.   DESCRIPTION
 
   
99.1
  Press Release Dated June 14, 2007

 

EX-99.1 2 k15969exv99w1.htm PRESS RELEASE, DATED JUNE 14, 2007 exv99w1
 

Exhibit 99.1
NEWS BULLETIN FROM
(CONANSYS LOGO)
FOR FURTHER INFORMATION
     
Investors:
  Media:
James Trouba
  Dorothy Chisholm
Tel: (248) 848-8896
  Tel: (248) 848-2283
jtrouba@covansys.com
  dchisholm@covansys.com
COVANSYS ANNOUNCES EXPIRATION OF HART-SCOTT-RODINO
WAITING PERIOD IN CONNECTION WITH CSC TRANSACTION
Special Meeting of Shareholders Scheduled for June 27, 2007
FARMINGTON HILLS, MI, June 14, 2007 — Covansys Corporation (NASDAQ: CVNS), today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed acquisition of Covansys by Computer Sciences Corporation (NYSE: CSC) (“CSC”). The expiration of the Hart-Scott-Rodino waiting period satisfies one of the conditions to the closing of the transaction.
As previously announced on April 25, 2007, Covansys and CSC have entered into an agreement under which CSC will acquire Covansys for $34.00 per share in cash, or approximately $1.3 billion.
The special meeting of shareholders to vote on the transaction will be held at 9:00 a.m., local time, on Wednesday June 27, 2007 at the offices of Butzel Long, 150 West Jefferson, Suite 100, Detroit, Michigan. The Covansys Board of Directors, on the recommendation of a Special Committee composed entirely of independent directors, recommends that Covansys shareholders vote to approve the transaction.
Completion of the transaction, expected in early July, still requires satisfaction of certain conditions, including Covansys shareholder approval and regulatory approvals in certain overseas jurisdictions.

 


 

About Covansys
Headquartered in Michigan, Covansys Corporation (NASDAQ: CVNS) is a global consulting and technology services company specializing in industry-specific solutions, strategic outsourcing and integration services. Covansys is known for strategic outsourcing and technology solutions in the healthcare, financial services, retail and distribution, manufacturing, telecommunications and high-tech industries. Covansys was one of the first US-based IT services companies to establish offshore facilities in India, and is a pioneer in seamlessly integrating offshore capabilities into its offerings.
Safe Harbor Statement
Certain statements in this press release are “forward-looking statements” under the federal securities laws. These forward looking statements are subject to a number of substantial risks and uncertainties and may be identified by the words “will,” “anticipate,’’ “believe,’’ “estimate,’’ “expect’’ or “intend” and similar expressions. Our actual results, performance or achievements could differ materially from these forward-looking statements. Factors that could cause or contribute to such material differences include impacts associated with a failure to complete the merger with Computer Sciences Corporation (including, without limitation, the loss of key employees and clients, the possibility of us having to pay a substantial breakup fee under certain circumstances, transaction costs, and a possible substantial decrease in the price of our common stock), internal control weaknesses, costs, variability of operating results, failure to recruit, train and retain skilled IT professionals, impact of changes in estimates on fixed-price projects, exposure to regulatory, political and general economic conditions in India and Asia, short term nature and termination provisions of contracts, competition in the IT services industry, economic conditions unique to clients in specific industries, the success of the company to negotiate contract renewals at comparable terms, limited protection of intellectual property rights, infringement by our services on the property rights of others, legal liability and damage to our professional reputation from claims made against our work, and risks related to merger, acquisition and strategic investment strategy. You should not place undue reliance on any forward-looking statements contained herein. Except as expressly required by the federal securities laws, we undertake no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, changed circumstances or for any other reason.
# # #

 

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