-----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, SfjFa0ewO1CiOGI3ESvXJcSLX3N7c2eQ9i4eNjNTWvcvT/uxSjhHff0dO+8H2FdI qc03tg8WFRvHWMv7OGbaDw== 0000940180-97-000775.txt : 19970912 0000940180-97-000775.hdr.sgml : 19970912 ACCESSION NUMBER: 0000940180-97-000775 CONFORMED SUBMISSION TYPE: DFAN14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970908 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CIRCON CORP CENTRAL INDEX KEY: 0000719727 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 953079904 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DFAN14A SEC ACT: SEC FILE NUMBER: 000-12025 FILM NUMBER: 97676635 BUSINESS ADDRESS: STREET 1: 6500 HOLLISTER AVE CITY: SANTA BARBARA STATE: CA ZIP: 93111 BUSINESS PHONE: 8059670404 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: UNITED STATES SURGICAL CORP CENTRAL INDEX KEY: 0000101788 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 132518270 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DFAN14A BUSINESS ADDRESS: STREET 1: 150 GLOVER AVE CITY: NORWALK STATE: CT ZIP: 06856 BUSINESS PHONE: 2038451000 MAIL ADDRESS: STREET 1: 150 GLOVER AVENUE CITY: NORWALK STATE: CT ZIP: 06856 FORMER COMPANY: FORMER CONFORMED NAME: AUTO SUTURE SURGICAL CORP DATE OF NAME CHANGE: 19700507 DFAN14A 1 LETTER DATED SEPTEMBER 4, 1997 Securities and Exchange Commission Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(A) of the Securities Exchange Act of 1934 Filed by the Registrant [_] Filed by a Party other than the Registrant [X] Check the appropriate box: [_] Preliminary Proxy Statement [_] Definitive Proxy Statement [X] Definitive Additional Materials [_] Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12 Circon Corporation ------------------ (Name of Registrant as Specified in its Charter) United States Surgical Corporation ---------------------------------- (Name of Person Filing Proxy Statement) --------------- Payment of Filing Fee (Check the appropriate box): [X] No fee required. [_] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. (1) Title of each class of securities to which transaction applies: N/A (2) Aggregate number of securities to which transaction applies: N/A (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): N/A (4) Proposed maximum aggregate value of transaction: N/A (5) Total fee paid: N/A [_] Fee previously paid with preliminary materials. [_] 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 Number: (3) Filing Party: (4) Date Filed: [LETTERHEAD OF UNITED STATES SURGICAL CORPORATION APPEARS HERE] IT'S TIME FOR A CHANGE September 4, 1997 Dear Fellow Circon Shareholders: When the Board of Directors you elected at Circon to manage YOUR Company: . blatantly defies the desire of the overwhelming majority of Circon's shareholders to sell the Company--IT'S TIME FOR A CHANGE. . places their interests above yours--IT'S TIME FOR A CHANGE. . denies you of the opportunity to more than double the value* of your Circon investment--IT'S SURELY TIME FOR A CHANGE. ONLY YOU CAN EFFECT CHANGE VOTE THE BLUE PROXY CARD As Circon's shareholders, we are faced with an important decision. We are strapped with a Board of Directors led by Richard Auhll, Chairman and President, which, in our opinion, has failed in its fiduciary responsibility to act in the best interest of all Circon shareholders. We believe Mr. Auhll and his Board are letting greed cloud their judgment. Mr. Auhll and his Board have repeatedly resisted U.S. Surgical's cash offers for Circon during the last 13 months in spite of the overwhelming support of Circon's shareholders. The Board's negative actions since our original $18 cash offer has cost Circon's shareholders dearly in lost opportunities. Shareholders could have more than doubled the value of their Circon investment had the Board not resisted our original cash offer. ENOUGH IS ENOUGH! IT IS TIME TO TAKE MATTERS INTO OUR OWN HANDS BY REPLACING BOARD MEMBERS WHO ARE NOT RESPONSIVE TO SHAREHOLDER WISHES WITH NEW DIRECTORS WHO WILL BE. At Circon's Annual Meeting of Shareholders on October 6, 1997, send a message to Mr. Auhll and the Board that you will no longer tolerate their nonsense and delay. Show the Circon Board that you demand that they comply with their fiduciary responsibilities and the will of a majority of Circon's shareholders to sell the Company to the highest bidder. Return the enclosed BLUE proxy card today. (OVER) We urge you to vote FOR U.S. Surgical's two Director nominees and FOR the Maximize Value Resolution on the BLUE card. Thank you for your consideration and continued support. On behalf of the board, /s/ Leon C. Hirsch Leon C. Hirsch, Chairman United States Surgical Corporation IMPORTANT Your vote is important, no matter how many or how few Circon shares you own. U.S. Surgical urges you to mark, sign, date and return the enclosed BLUE proxy card to vote FOR the election of the U.S. Surgical nominees and FOR the approval of the Maximize Value Resolution. If your Circon shares are registered in your own name, please mark, sign and date the enclosed BLUE proxy card. Return the proxy card to U.S. Surgical, c/o Kissel-Blake Inc. in the enclosed envelope in time to be voted at the Annual Meeting. If any of your Circon shares are held in the name of a brokerage firm, bank, bank nominee or other institution on the record date, only it can vote such Circon shares and only upon receipt of your specific instructions. Accordingly, please contact the person responsible for your account and instruct that person to execute on your behalf the BLUE proxy card. Remember--even if you have already tendered your Circon shares in U.S. Surgical's Offer, you must vote your Circon shares on the enclosed BLUE proxy card to support U.S. Surgical's nominees and the Maximize Value Resolution. For additional information please review the Proxy Statement of U.S. Surgical dated August 11, 1997. If you have any questions or require assistance voting your Circon shares, please call our proxy solicitors: KISSEL-BLAKE INC. 110 Wall Street New York, NY 10005 Call Toll Free (800) 554-7733 Brokers and Banks, please call (212) 344-6733 *PLEASE EXAMINE THE FACTS: FACT: The average closing price of Circon's shares was $9.83 during the ten days prior to the initial offering on August 2, 1996. ASSUMPTION: If Circon's Board approved our initial $18 cash offer, the proceeds would have been available for reinvestment on September 9, 1996, 10 days after the expiration of the offer. FACT: On September 9, 1996, the Dow Jones Industrial Average was 5659. ASSUMPTION: If Circon's shareholders reinvested the proceeds from the sale of their Circon shares on September 9, 1996 in an investment that mirrored the Dow Jones Industrial Average's performance, which closed at 7867 on September 4, 1997, their reinvestment would have grown 39% or $7.02 per share. $7.02 plus the $18 tender offer equals $25.02 per share. Since Circon's shares were worth approximately $9.83 before our cash offer, and $25.02 after the offer, Circon's shareholders could have grown the value of their investment by 155% before taxes. -----END PRIVACY-ENHANCED MESSAGE-----