-----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, QCBCoBwbK5VNwLkQfEENbXq3al0lD9dIonQuHpSsVhFZRwBXc9U33dBjP/oM1icJ 2wcpnWj3cHbi4KRbjT/FoA== 0000950150-97-000999.txt : 19970627 0000950150-97-000999.hdr.sgml : 19970627 ACCESSION NUMBER: 0000950150-97-000999 CONFORMED SUBMISSION TYPE: SC 14D1/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19970626 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HEALTHSOURCE INC CENTRAL INDEX KEY: 0000855587 STANDARD INDUSTRIAL CLASSIFICATION: HOSPITAL & MEDICAL SERVICE PLANS [6324] IRS NUMBER: 020387748 STATE OF INCORPORATION: NH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D1/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-40671 FILM NUMBER: 97630351 BUSINESS ADDRESS: STREET 1: 2 COLLEGE PARK DRIVE CITY: HOOKSETT STATE: NH ZIP: 03106 BUSINESS PHONE: 6032687000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CIGNA CORP CENTRAL INDEX KEY: 0000701221 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 061059331 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D1/A BUSINESS ADDRESS: STREET 1: ONE LIBERTY PL 1650 MARKET ST STREET 2: P O BOX 7716 CITY: PHILADELPHIA STATE: PA ZIP: 19192-1550 BUSINESS PHONE: 2157616211 SC 14D1/A 1 AMENDMENT NO. 8 TO SCHEDULE 14D-1 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------- AMENDMENT NO. 8 TO SCHEDULE 14D-1 TENDER OFFER STATEMENT PURSUANT TO SECTION 14(d)(1) OF THE SECURITIES EXCHANGE ACT OF 1934 AND AMENDMENT NO. 8 TO SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 HEALTHSOURCE, INC. (Name of Subject Company) CHC ACQUISITION CORP. CIGNA CORPORATION (Bidders) COMMON STOCK, $.10 PAR VALUE (Title of Class of Securities) 42221E 10 4 (Title of Class of Securities) THOMAS J. WAGNER, ESQ. CIGNA CORPORATION ONE LIBERTY PLACE PHILADELPHIA, PENNSYLVANIA 19192 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on behalf of Bidders) COPY TO: C. DOUGLAS KRANWINKLE, ESQ. O'MELVENY & MYERS LLP 153 EAST 53RD STREET NEW YORK, NEW YORK 10022 212-326-2000 JUNE 25, 1997 (Date of Event Which Requires filing of Statement on Schedule 13D) 2 CALCULATION OF FILING FEE TRANSACTION VALUATION* $1,551,656,244 AMOUNT OF FILING FEE $310,331.25 * Estimated for purposes of calculating the amount of the filing fee only. The amount assumes the purchase of 71,340,517 shares of common stock, $.10 par value (the "Shares"), of Healthsource, Inc. (the "Company") at a price per share of $21.75 in cash (the "Offer Price"). Such number of shares represents all the Shares outstanding as of January 31, 1997 plus all Shares issuable pursuant to options granted under the Company's stock option and employee stock purchase plans, pension plans and other similar employee benefit plans. [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: $310,331.25 Form or registration no.: Schedule 14D-1 Filing parties: CHC Acquisition Corp. and CIGNA Corporation Date filed: March 6, 1997 (Continued on following pages) 3 This Amendment No. 8 to Tender Offer Statement on Schedule 14D-1 and Amendment No. 8 to Schedule 13D amends and supplements the Tender Offer Statement on Schedule 14D-1 and Schedule 13D originally filed on March 6, 1997 (the "Schedule 14D-1") by CHC Acquisition Corp., a New Hampshire corporation (the "Purchaser"), and CIGNA Corporation, a Delaware corporation ("Parent"), relating to the tender offer by the Purchaser to purchase all outstanding shares of common stock, par value $.10 per share, of Healthsource, Inc., a New Hampshire corporation (the "Company"), at a price of $21.75 per Share, net to the seller in cash, upon the terms and subject to the conditions set forth in the Offer to Purchase dated March 6, 1997 and the related Letter of Transmittal. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Schedule 14D-1. The Purchaser and Parent hereby amend and supplement the Schedule 14D-1 as follows: ITEM 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY Item 6(a)-(b) of the Schedule 14D-1 is hereby amended and supplemented by adding thereto the following: The Offer expired at 6:00 P.M., New York City time, on Wednesday, June 25, 1997. Based on information provided by the Depositary, IBJ Schroder Bank and Trust Company, approximately 63,260,468 Shares were validly tendered and not withdrawn as of the expiration of the Offer including 1,099,312 Shares which were tendered pursuant to guaranteed delivery procedures. At 6:01 P.M. on June 25, 1997, Purchaser accepted for payment and, therefore, purchased all tendered Shares at the Offer price of $21.75 per Share. As a result, Purchaser beneficially owns approximately 63,260,468 of the outstanding Shares of the Company (approximately 98% of outstanding Shares). ITEM 7. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO THE SUBJECT COMPANY'S SECURITIES Item 7 of the Schedule 14D-1 is hereby amended and supplemented by adding thereto the following: By executing the Letter of Transmittal, each tendering shareholder has appointed designees of the Purchaser as such shareholder's proxies with respect to the tendered Shares. All such proxies became effective as of the Purchaser's acceptance for payment of the Shares tendered in response to the Offer. Such proxies are irrevocable and coupled with an interest in the tendered Shares. ITEM 10. ADDITIONAL INFORMATION Item 10(f) is hereby amended and supplemented by incorporating by reference therein the press release issued by Parent on June 26, 1997, a copy of which is filed as Exhibit (a)(15) to the Schedule 14D-1. 4 ITEM 11. MATERIAL TO BE FILED AS EXHIBITS Item 11 is hereby amended and supplemented by the addition of the following exhibit thereto: Exhibit (a)(15) Form of press release issued by Parent on June 26, 1997. 5 SIGNATURES After due inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: June 26, 1997 CHC ACQUISITION CORP. By: /s/ ROBERT L. ROSE ------------------------ Name: Robert L. Rose Title: President CIGNA CORPORATION By: /s/ MORDECAI SCHWARTZ ------------------------ Name: Mordecai Schwartz Title: Vice President 6 EXHIBIT INDEX EXHIBIT - ------- (a)(15) Form of press release issued by Parent on June 26, 1997. EX-99.(A)(15) 2 PRESS RELEASE 1 CIGNA CORPORATION COMPLETES TENDER OFFER FOR HEALTHSOURCE COMMON STOCK PHILADELPHIA, PA, June 26, 1997 - CIGNA Corporation (NYSE; CI) announced today that its subsidiary, CHC Acquisition Corp., has completed its $21.75 per share cash tender offer for the outstanding common stock of Healthsource, Inc., a New Hampshire-based HMO and health insurance company. The offer expired June 25 at 6:00 P.M., Eastern Daylight Time. As announced on February 28, CIGNA agreed to acquire Healthsource for a total acquisition cost of approximately $1.7 billion, including the repayment of approximately $250 million of outstanding Healthsource long-term debt. "Healthsource, with its 1.1 million HMO members and 2 million medical and 2.6 million dental indemnity lives (as of December 31, 1996), provides CIGNA with access to several important new markets, enhances our competitive position in others and fits well with our managed care and indemnity businesses," said H. Edward Hanway, president of CIGNA HealthCare. "We're very pleased with the commitment to quality, cost-effective care we have seen throughout Healthsource and, with that commitment as a common goal, we expect the integration to be achieved quickly and efficiently." 2 - 2 - With the addition of Healthsource, CIGNA HealthCare operates medical HMOs in 30 states with total membership of approximately 5.4 million members (based on enrollments as of December 31, 1996). Including Healthsource, CIGNA'S medical indemnity business covers approximately 6.6 million lives and its dental indemnity book of business approximately 10.5 million lives (again, based on December 31, 1996 enrollments). According to IBJ Schroder Bank & Trust Company, the depositary for the offer, 63,260,468 shares of Healthsource common stock had been tendered as of the close of the offer on June 25, 1997, including 1,099,312 shares tendered pursuant to notices of guaranteed delivery. The shares tendered constitute approximately 98 percent of Healthsource's outstanding common shares. By the tender offer deadline, 1,033,001 shares had not been tendered. Holders of Healthsource common stock who did not tender pursuant to the offer will be entitled to $21.75 per share in cash following completion of the merger of Healthsource and CHC Acquisition Corp. CHC Acquisition Corp. expects to consummate the merger promptly. CIGNA Corporation, with assets of $98.9 billion (as of December 31, 1996) and full-year 1996 revenues of $19 billion, is a leading provider of health care, insurance and related financial services throughout the United States and internationally. CIGNA Corporation ranks among the largest investor-owned insurance organizations in the United States, with shareholders' equity of $7.2 billion (as of December 31, 1996). -----END PRIVACY-ENHANCED MESSAGE-----