0001193125-14-017280.txt : 20140414 0001193125-14-017280.hdr.sgml : 20140414 20140122160706 ACCESSION NUMBER: 0001193125-14-017280 CONFORMED SUBMISSION TYPE: SC TO-T/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20140122 DATE AS OF CHANGE: 20140206 GROUP MEMBERS: OC ACQUISITION LLC GROUP MEMBERS: RAPTOR OAK ACQUISITION CORP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: RESPONSYS INC CENTRAL INDEX KEY: 0001084817 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC TO-T/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-86622 FILM NUMBER: 14540375 BUSINESS ADDRESS: STREET 1: 1100 GRUNDY LANE STREET 2: 3RD FLOOR CITY: SAN BRUNO STATE: CA ZIP: 94066 BUSINESS PHONE: 650-745-1700 MAIL ADDRESS: STREET 1: 1100 GRUNDY LANE STREET 2: 3RD FLOOR CITY: SAN BRUNO STATE: CA ZIP: 94066 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ORACLE CORP CENTRAL INDEX KEY: 0001341439 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 542185193 FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: SC TO-T/A BUSINESS ADDRESS: STREET 1: 500 ORACLE PARKWAY STREET 2: MAIL STOP 5 OP 7 CITY: REDWOOD CITY STATE: CA ZIP: 94065 BUSINESS PHONE: 6505067000 MAIL ADDRESS: STREET 1: 500 ORACLE PARKWAY STREET 2: MAIL STOP 5 OP 7 CITY: REDWOOD CITY STATE: CA ZIP: 94065 FORMER COMPANY: FORMER CONFORMED NAME: Ozark Holding Inc. DATE OF NAME CHANGE: 20051013 SC TO-T/A 1 d653501dsctota.htm SC TO-T/A SC TO-T/A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE TO

TENDER OFFER STATEMENT UNDER SECTION 14(D)(1)

OR 13(E)(1) OF THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

RESPONSYS, INC.

(Name of Subject Company (Issuer))

RAPTOR OAK ACQUISITION CORPORATION

(Offeror)

a wholly owned direct subsidiary of

OC ACQUISITION LLC

(Direct Parent of Offeror)

a wholly owned direct subsidiary of

ORACLE CORPORATION

(Oracle of Offeror)

(Names of Filing Persons)

Common Stock, Par Value $0.0001 Per Share

(Title of Class of Securities)

761248103

(Cusip Number of Class of Securities)

Dorian Daley

Senior Vice President, General Counsel and Secretary

Oracle Corporation

500 Oracle Parkway

Redwood City, California 94065

Telephone: (650) 506-7000

(Name, Address and Telephone Number of Person Authorized

to Receive Notices and Communications on Behalf of Filing Persons)

Copies to:

Richard Climan

Keith Flaum

Weil, Gotshal & Manges LLP

201 Redwood Shores Parkway

Redwood City, California 94065

Telephone: (650) 802-3000

CALCULATION OF FILING FEE

 

 

 

Transaction Valuation*   Amount of Filing Fee**
$1,564,534,062   $201,512

 

 

*

Estimated solely for purposes of calculating the filing fee. This calculation is based on the offer to purchase all of the issued and outstanding shares of common stock, par value $0.0001 per share, of Responsys, Inc. (the “Company”), at a purchase price of $27.00 per share, net to the seller in cash, without interest thereon and subject to any required tax withholding. Such shares consist of: (i) 51,870,830 shares of common stock of the Company that were issued and outstanding as of January 6, 2014; (ii) 6,011,026 shares of common stock of the Company potentially issuable upon exercise of outstanding exercisable in-the-money stock options as of January 6, 2014; and (iii) up to 63,850 shares of common stock of the Company subject to outstanding restricted stock units of the Company outstanding as of January 6, 2014 that may undergo accelerated vesting and be settled for shares of common stock of the Company in connection with the Offer. The foregoing figures have been provided by the issuer to the offeror and are as of January 6, 2014, the most recent practicable date.

 

**

The filing fee was calculated in accordance with Rule 0-11 under the Securities Exchange Act of 1934, as amended, and Fee Rate Advisory No. 1 for Fiscal Year 2014, issued August 30, 2013, by multiplying the transaction value by 0.00012880.

 

x

Check box if any part of the fee is offset as provided by Rule 0–11(a)(2) 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: $201,512       Filing Party: Raptor Oak Acquisition Corporation, OC Acquisition LLC and Oracle Corporation
Form or Registration No.: Schedule TO       Date Filed: January 8, 2014

 

¨

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:

 

x

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     ¨

If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

 

¨

Rule 13e–4(i) (Cross–Border Issuer Tender Offer)

 

¨

Rule 14d–1(d) (Cross–Border Third–Party Tender Offer)

This Amendment No. 1 (this “Amendment”) amends and supplements the Tender Offer Statement on Schedule TO (together with any subsequent amendments and supplements thereto, the “Schedule TO”), filed with the Securities and Exchange Commission on January 8, 2014 by Raptor Oak Acquisition Corporation, a Delaware corporation (“Purchaser”), a wholly owned subsidiary of OC Acquisition LLC, a Delaware limited liability company (“Parent”), which is a wholly owned subsidiary of Oracle Corporation, a Delaware corporation (“Oracle”). The Schedule TO relates to the offer by Purchaser to purchase all of the issued and outstanding shares of common stock, par value, $0.0001 per share (the “Shares”), of Responsys, Inc., a Delaware corporation (the “Company”), at a purchase price of $27.00 per Share net to the seller in cash, without interest thereon and subject to any required tax withholding, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated January 8, 2014 (the “Offer to Purchase”) and in the related Letter of Transmittal (which, together with the Offer to Purchase, as they may be amended or supplemented from time to time, collectively constitute the “Offer”), copies of which are attached to the Schedule TO as Exhibits (a)(1)(A) and (a)(1)(B), respectively.

Except as otherwise set forth in this Amendment, the information set forth in the Schedule TO remains unchanged and is incorporated herein by reference to the extent relevant to the items in this Amendment. Capitalized terms used but not defined herein have the meanings ascribed to them in the Schedule TO.

Items 1 through 9 and Item 11.

The Offer to Purchase and Items 1 through 9 and Item 11 of the Schedule TO, to the extent such Items incorporate by reference the information contained in the Offer to Purchase, are hereby amended by:

Amending and restating the last sentence of the first paragraph in Section 15 – “Conditions of the Offer” on page 35 of the Offer to Purchase to read as follows:

“Notwithstanding any other provision of the Offer or the Merger Agreement, Purchaser shall not be required to accept for payment or (subject to any applicable rules and regulations of the SEC, including Rule 14e-1(c) under the Exchange Act) pay for, and may delay the acceptance for payment or (subject to any such rules and regulations) the payment for, any tendered Shares, and may terminate the Offer at any scheduled Expiration Date or amend or terminate the Offer as otherwise permitted by the Merger Agreement, if the Minimum Condition or any of the following additional conditions shall not be satisfied or waived by 12:00 midnight, Eastern Time, at the end of the scheduled Expiration Date of the Offer:”

Amending and restating the last paragraph of Section 15 – “Conditions of the Offer” on page 35 of the Offer to Purchase to read as follows:

“The foregoing conditions are for the sole benefit of Parent and Purchaser and (except for the Minimum Condition) may be waived by Parent and Purchaser, in whole or in part at any time and from time to time, in the sole discretion of Parent and Purchaser.”

Amending and restating the fourth paragraph of Section 17 – “Appraisal Rights” on page 40 of the Offer to Purchase to read as follows:

“As described more fully in the Schedule 14D-9, if a stockholder wishes to elect to exercise appraisal rights under Section 262 of the DGCL, such stockholder must do all of the following:

 

  •   no later than 12:00 midnight, New York City time, at the end of the business day after the date on which the Acceptance Time occurs, deliver to the Company a written demand for appraisal of Shares held, which demand must reasonably inform the Company of the identity of the stockholder and that the stockholder is demanding appraisal;

 

  •   not tender such stockholder’s Shares in the Offer; and

 

  •   continuously hold of record the Shares from the date on which the written demand for appraisal is made through the Effective Time.”

Amending and restating the fifth paragraph in Section 17 – “Appraisal Rights” on page 40 of the Offer to Purchase to read as follows:

“The foregoing summary of the appraisal rights of stockholders, taken together with that set forth in the Schedule 14D-9, is only a summary, and is qualified in its entirety by reference to Section 262 of the DGCL. The proper exercise of appraisal rights requires strict and timely adherence to the applicable provisions of the DGCL. A copy of Section 262 of the DGCL is included as Annex II to the Schedule 14D-9.”

Amending and restating the second sentence of Section 11 – “The Merger Agreement; Other Agreements—The Merger Agreement” on page 15 of the Offer to Purchase to read as follows:

“The following description of the Merger Agreement is only a summary, and is qualified in its entirety by reference to the Merger Agreement, a copy of which is filed as an exhibit to the Schedule TO and is incorporated herein by reference.”;

Amending and restating the second sentence in Section 11 – “The Merger Agreement; Other Agreements—Tender and Support Agreements” on page 32 of the Offer to Purchase to read as follows:

“The following description of the Tender and Support Agreements is only a summary, and is qualified in its entirety by reference to the form of Tender and Support Agreement, a copy of which is filed as an exhibit to the Schedule TO and is incorporated herein by reference.”

Amending and restating the last paragraph in Section 11 – “The Merger Agreement; Other Agreements—Exclusivity Agreement” on page 33 of the Offer to Purchase to read as follows:

“This summary of the Exclusivity Agreement is only a summary, and is qualified in its entirety by reference to the Exclusivity Agreement, which is filed as Exhibit (d)(3) hereto and incorporated herein by reference.”

Amending and restating the second paragraph in Section 16 — “Certain Legal Matters; Regulatory Approvals—Antitrust Compliance” on page 38 of the Offer to Purchase:

“Under the HSR Act, Purchaser’s purchase of the Shares pursuant to the Offer was subject to an initial waiting period that would have expired at 11:59 pm, New York City time on January 22, 2014. However, on January 17, the FTC granted early termination of the initial waiting period. As a result, the Antitrust Condition has been partially satisfied inasmuch as the applicable waiting period applicable to the Offer under the HSR Act has been terminated.”

SIGNATURES

After due inquiry and to the best knowledge and belief of the undersigned, each of the undersigned certify that the information set forth in this statement is true, complete and correct.

Date: January 22, 2014

 

Raptor Oak Acquisition Corporation
By:  

/s/ Dorian E. Daley

Name:   Dorian E. Daley
Title:   President

 

OC Acquisition LLC
By:  

/s/ Dorian E. Daley

Name:   Dorian E. Daley
Title:   President

 

Oracle Corporation
By:  

/s/ Dorian E. Daley

Name:   Dorian E. Daley
Title:  

Senior Vice President, General Counsel and

Secretary

EXHIBIT INDEX

 

    Exhibit No.

    

Description

  (a)(1)(i)      Offer to Purchase dated January 8, 2014.*
  (a)(1)(ii)      Letter of Transmittal (including Guidelines for Certification of Taxpayer Identification Number on IRS Form W-9).*
  (a)(1)(iii)      Notice of Guaranteed Delivery.*
  (a)(1)(iv)      Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.*
  (a)(1)(v)      Letter to Clients for use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.*
  (a)(1)(vi)      Summary Advertisement dated January 8, 2014.*
  (a)(5)(i)      Press Release issued by Oracle Corporation on December 20, 2013 (incorporated by reference to the Schedule TO filed by Oracle Corporation on December 20, 2013).*
  (a)(5)(ii)      General Presentation issued by Oracle Corporation on December 20, 2013 (incorporated by reference to the Schedule TO filed by Oracle Corporation on December 20, 2013).*
  (a)(5)(iii)      FAQ issued by Oracle Corporation on December 20, 2013 (incorporated by reference to the Schedule TO filed by Oracle Corporation on December 20, 2013).*
  (a)(5)(iv)      Customer and Partner Letter issued by Oracle Corporation on December 20, 2013 (incorporated by reference to the Schedule TO filed by Oracle Corporation on December 20, 2013).*
  (a)(5)(v)      Website materials published by Oracle Corporation on December 20, 2013 (incorporated by reference to the Schedule TO filed by Oracle Corporation on December 20, 2013).*
  (b)      Not applicable.
  (d)(1)         Agreement and Plan of Merger, dated as of December 20, 2013, among Responsys, Inc., OC Acquisition LLC, Raptor Oak Acquisition Corporation and (solely with respect to performance of its obligations set forth in certain specified sections thereof) Oracle Corporation (incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K filed by Responsys, Inc. with the SEC on December 20, 2013).*
  (d)(2)         Form of Tender and Support Agreement (incorporated by reference to Exhibit A to Exhibit 2.1 to the Current Report on Form 8-K filed by Responsys, Inc. with the SEC on December 20, 2013).*
  (d)(3)         Confidential Disclosure Agreement for Strategic Matters, effective as of December 8, 2013, between Oracle Corporation and Responsys, Inc. (incorporated by reference to Exhibit (e)(2) to the Schedule 14D-9 filed by Responsys, Inc. on January 8, 2014).*
  (d)(4)         Exclusivity Agreement, dated as of December 12, 2013, between Responsys, Inc. and Oracle Corporation (incorporated by reference to Exhibit (e)(3) to the Schedule 14D-9 filed by Responsys, Inc. on January 8, 2014).*
  (e)      Not applicable.
  (g)      Not applicable.
  (h)      Not applicable.

 

* Previously filed with the Schedule TO.
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LOGO    Oracle Corporation   

500 Oracle Parkway

Redwood Shores

California 94065

    phone 650.506.7000

VIA EDGAR

January 22, 2014

U.S. Securities and Exchange Commission

Division of Corporation Finance

Office of Mergers and Acquisitions

100 F Street, N.E.

Washington, DC 20549-3628

Attn: Ms. Christina Chalk, Senior Special Counsel

 

Re: Responsys, Inc.

Schedule TO-C filed December 20, 2013

Schedule TO-T filed January 8, 2014

Filed by Oracle Corporation et al

File No. 5-86622

Dear Ms. Chalk:

On behalf of Raptor Oak Acquisition Corporation, a Delaware corporation (“Purchaser”), OC Acquisition LLC, a Delaware limited liability company (“Parent”) and Oracle Corporation, a Delaware corporation (collectively with Purchaser and Parent, the “Filing Persons”), we are writing in response to the comment letter, dated January 14, 2013 (the “Comment Letter”), of the staff of the Office of Mergers and Acquisitions (the “Staff”) of the Securities and Exchange Commission (the “Commission”) with respect to the Filing Persons’ above-referenced filing.

For ease of reference, the headings and numbers of the responses set forth below correspond to the headings and numbers in the Comment Letter, and we have set forth below, in bold, the text of the Staff’s comment prior to each response in the same order as presented in the Comment Letter.

Ms. Christina Chalk

January 22, 2014

Page 2

 

Exhibit (a)(1)(A)—Offer to Purchase

Conditions to the Offer, page 35

 

1. Comment: Refer to the first paragraph in this section on page 35. Clarify that all offer condition [sic.], not simply the Minimum Condition, must be satisfied or waived as of the Expiration Date of the Offer.

Response: In response to the Staff’s comment, the Filing Persons are amending and restating the last sentence of the first paragraph in Section 15 – “Conditions to the Offer” to read as follows:

“Notwithstanding any other provision of the Offer or the Merger Agreement, Purchaser shall not be required to accept for payment or (subject to any applicable rules and regulations of the SEC, including Rule 14e-1(c) under the Exchange Act) pay for, and may delay the acceptance for payment or (subject to any such rules and regulations) the payment for, any tendered Shares, and may terminate the Offer at any scheduled Expiration Date or amend or terminate the Offer as otherwise permitted by the Merger Agreement, if the Minimum Condition or any of the following additional conditions shall not be satisfied or waived by 12:00 midnight, Eastern Time, at the end of the scheduled Expiration Date of the Offer:”

 

2. Comment: Refer to the last paragraph in this section on page 37. You state that the failure to exercise any of the foregoing “rights” (i.e., listed offer conditions) will not be a waiver of such rights “which may be asserted at any time and from time to time.” If any of the listed events “trigger” an offer condition while the offer is pending, the bidder must at that time determine whether to assert the condition and terminate the offer or waive it and proceed. The bidder may not wait until the expiration of the offer to assert an offer condition triggered earlier in the offer. Please revise.

Response: In response to the Staff’s comment, the Filing Persons are amending and restating the last paragraph of Section 15 – “Conditions of the Offer” to read as follows:

“The foregoing conditions are for the sole benefit of Parent and Purchaser and (except for the Minimum Condition) may be waived by Parent and Purchaser, in whole or in part at any time and from time to time, in the sole discretion of Parent and Purchaser.”

Parent confirms that if, prior to the expiration of the Offer, an event occurs that will result in a failure of a condition to the Offer to be satisfied as of the scheduled expiration of the Offer, Parent will disclose whether or not it is waiving that condition promptly after learning of such event unless the condition is one where satisfaction of the condition may be determined only upon expiration of the Offer or Parent is unable to determine whether the event will result in a failure of a condition to be satisfied.

Ms. Christina Chalk

January 22, 2014

Page 3

 

Appraisal Rights, page 39

 

3. Comment: We note the disclosure stating that a stockholder wishing to exercise appraisal rights must deliver the written demand for appraisal of Shares “no the later than the consummation of the Offer.” Please revise to clarify precisely when the consummation of the Offer will occur for purposes of exercising appraisal rights under Section 262 of the DGCL. For instance, clarify whether consummation means the Expiration Date of the Offer, the time the bidder accepts the tendered shares, or the time of settlement.

Response: In response to the Staff’s comment, the Filing Persons are amending and restating the fourth paragraph of Section 17 – “Appraisal Rights” to read as follows:

“As described more fully in the Schedule 14D-9, if a stockholder wishes to elect to exercise appraisal rights under Section 262 of the DGCL, such stockholder must do all of the following:

 

  •   no later than 12:00 midnight, New York City time, at the end of the business day after the date on which the Acceptance Time occurs, deliver to the Company a written demand for appraisal of Shares held, which demand must reasonably inform the Company of the identity of the stockholder and that the stockholder is demanding appraisal;

 

  •   not tender such stockholder’s Shares in the Offer; and

 

  •   continuously hold of record the Shares from the date on which the written demand for appraisal is made through the Effective Time.”

 

4. Comment: Refer to the disclaimer in boldfaced type on page 40 of the Offer to Purchase, indicating that the summary of appraisal rights does not purport to be “complete.” While you may include qualifying language about the nature of a summary generally, this broad disclaimer is inappropriate. Please revise here and where appropriate throughout the Offer to Purchase.

Response: In response to the Staff’s comment, the Filing Persons are amending and restating the disclaimer in boldfaced type in Section 17 – “Appraisal Rights” on page 40 of the Offer to Purchase to read as follows:

“The foregoing summary of the appraisal rights of stockholders, taken together with that set forth in the Schedule 14D-9, is only a summary, and is qualified in its entirety by reference to Section 262 of the DGCL. The proper exercise of appraisal rights requires strict and timely adherence to the applicable provisions of the DGCL. A copy of Section 262 of the DGCL is included as Annex II to the Schedule 14D-9.”

Ms. Christina Chalk

January 22, 2014

Page 4

 

In addition, to further address the Staff’s comment, the Filing Persons are deleting the statements that the descriptions of the Merger Agreement, the Tender and Support Agreements and the Exclusivity Agreement do “not purport to be complete.” Accordingly:

 

  •   the second sentence of Section 11 – “The Merger Agreement; Other Agreements—The Merger Agreement” on page 15 of the Offer to Purchase is being amended and restated as follows:

 

  •   “The following description of the Merger Agreement is only a summary, and is qualified in its entirety by reference to the Merger Agreement, a copy of which is filed as an exhibit to the Schedule TO and is incorporated herein by reference.”;

 

  •   the second sentence in Section 11 – “The Merger Agreement; Other Agreements—Tender and Support Agreements” on page 32 of the Offer to Purchase is being amended and restated as follows:

 

  •   “The following description of the Tender and Support Agreements is only a summary, and is qualified in its entirety by reference to the form of Tender and Support Agreement, a copy of which is filed as an exhibit to the Schedule TO and is incorporated herein by reference.”; and

 

  •   the last paragraph in Section 11 – “The Merger Agreement; Other Agreements—Exclusivity Agreement” on page 33 of the Offer to Purchase is being amended and restated as follows:

 

  •   “This summary of the Exclusivity Agreement is only a summary, and is qualified in its entirety by reference to the Exclusivity Agreement, which is filed as Exhibit (d)(3) hereto and incorporated herein by reference.”

Ms. Christina Chalk

January 22, 2014

Page 5

 

Pursuant to the Staff’s request, the Filing Persons additionally acknowledge that:

 

  •   the Filing Persons are responsible for the adequacy and accuracy of the disclosures set forth in the filing;

 

  •   Staff comments or changes to disclosures in response to Staff comments do not foreclose the Commission from taking any action with respect to the Filing Persons’ filings; and

 

  •   the Filing Persons may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.

If you have any questions or would like further information concerning the Filing Persons’ responses to the Comment Letter, please do not hesitate to contact me at (650) 506-7000. Thank you for your time and consideration.

Sincerely,

 

/S/ DORIAN E. DALEY
Dorian E. Daley

cc: Via E-mail.

      Richard Climan (richard.climan@weil.com)