-----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, SziwyNO2h8CWjVPzm++68P6P2E0jw6K3mdR6I0lxD8Nn9mSSc3PQ6gHMf9WbMEZL B4QijNrgwuJ3trh5polufQ== 0000950103-98-000239.txt : 19980310 0000950103-98-000239.hdr.sgml : 19980310 ACCESSION NUMBER: 0000950103-98-000239 CONFORMED SUBMISSION TYPE: PRER14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980309 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ECHLIN INC CENTRAL INDEX KEY: 0000031348 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 060330448 STATE OF INCORPORATION: CT FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: PRER14A SEC ACT: SEC FILE NUMBER: 001-04651 FILM NUMBER: 98560297 BUSINESS ADDRESS: STREET 1: 100 DOUBLE BEACH RD CITY: BRANFORD STATE: CT ZIP: 06405 BUSINESS PHONE: 2034815751 MAIL ADDRESS: STREET 1: 100 DOUBLE BEACH ROAD CITY: BRANFORD STATE: CT ZIP: 06405 FORMER COMPANY: FORMER CONFORMED NAME: ECHLIN MANUFACTURING CO DATE OF NAME CHANGE: 19820602 PRER14A 1 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant [x] Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2) o Definitive Proxy Statement x Definitive Additional Materials o Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12 ------------------------------------ (Name of Registrant as Specified in Its Charter) ------------------------------------ (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): [x] No fee required. o Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: ------------------------- (2) Aggregate number of securities to which transaction applies: ------------------------- (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): ------------------------- (4) Proposed maximum aggregate value of transaction: ------------------------- (5) Total fee paid: ------------------------- o Fee paid previously with preliminary materials. o Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. . (1) Amount Previously Paid: ------------------------- (2) Form, Schedule or Registration Statement No.: ------------------------- (3) Filing Party: ------------------------- (4) Date Filed: -------------------------
PRESS RELEASE Contact: Paul Ryder of Echlin Inc. (203) 481-5751 For Immediate Release ECHLIN RESPONDS TO SPX LETTER BRANFORD, Conn., March 6, 1998 -- Larry McCurdy, Chairman, President and Chief Executive Officer of Echlin Inc., (NYSE: ECH) today responded to a letter sent to the Echlin Board of Directors by SPX Corporation (NYSE: SPW): Mr. McCurdy stated, "SPX's attacks upon Echlin and its Board are not only gratuitous, but false and misleading. "Our corporate governance, even after implementation of any proposed Connecticut legislation, provides shareholders with more say in our company than SPX shareholders have over what SPX's Board is empowered to do. Specifically, despite what Mr. Blystone says in his letter, Echlin's shareholders can change the full Board at each and every annual meeting and for cause at any special meeting. By contrast, the SPX shareholders can only change the SPX Board over a three-year period. "As for his ad hominem attack on the possible amendment of Connecticut law, Mr. Blystone should know that the Connecticut Legislature is reconsidering its statutory protection for Connecticut corporations specifically because of the weaknesses that SPX's own actions have exposed. 1 "Indeed, SPX, as a Michigan company incorporated in Delaware, enjoys greater defenses than Echlin does under Connecticut law. SPX, for example, is not subject to a special meeting provision to recall its board members and SPX has additionally instituted numerous defenses, which Echlin has not, such as a staggered board. "To accuse Echlin of 'extreme defensive tactics' in this context is absurd," he concluded. # # #
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