-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, Z9DWtMizA2JX5v/qWTx0lN2jy08xCE6nMDj2cL0sMfvsgCEyxFCWpdR40AMmPnwJ cvzK9gY9mqUzl65IuO4QOQ== 0000891836-94-000050.txt : 19940524 0000891836-94-000050.hdr.sgml : 19940524 ACCESSION NUMBER: 0000891836-94-000050 CONFORMED SUBMISSION TYPE: SC 14D9/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19940523 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WLR FOODS INC CENTRAL INDEX KEY: 0000760775 STANDARD INDUSTRIAL CLASSIFICATION: 2015 IRS NUMBER: 541295923 STATE OF INCORPORATION: VA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 14D9/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-39722 FILM NUMBER: 94529759 BUSINESS ADDRESS: STREET 1: P O BOX 7000 CITY: BROADWAY STATE: VA ZIP: 22815 BUSINESS PHONE: 7038674001 MAIL ADDRESS: STREET 1: 800 CO OP DRIVE CITY: TIMBERVILLE STATE: VA ZIP: 22853 FORMER COMPANY: FORMER CONFORMED NAME: WAMPLER LONGACRE ROCKINGHAM INC DATE OF NAME CHANGE: 19881114 FORMER COMPANY: FORMER CONFORMED NAME: WAMPLER LONGACRE INC DATE OF NAME CHANGE: 19880209 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WLR FOODS INC CENTRAL INDEX KEY: 0000760775 STANDARD INDUSTRIAL CLASSIFICATION: 2015 IRS NUMBER: 541295923 STATE OF INCORPORATION: VA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 14D9/A BUSINESS ADDRESS: STREET 1: P O BOX 7000 CITY: BROADWAY STATE: VA ZIP: 22815 BUSINESS PHONE: 7038674001 MAIL ADDRESS: STREET 1: 800 CO OP DRIVE CITY: TIMBERVILLE STATE: VA ZIP: 22853 FORMER COMPANY: FORMER CONFORMED NAME: WAMPLER LONGACRE ROCKINGHAM INC DATE OF NAME CHANGE: 19881114 FORMER COMPANY: FORMER CONFORMED NAME: WAMPLER LONGACRE INC DATE OF NAME CHANGE: 19880209 SC 14D9/A 1 WLR FOODS SCHEDULE 14D9/A AMENDMENT NO. 17 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14D-9 (Amendment No. 17) Solicitation/Recommendation Statement Pursuant to Section 14(d)(4) of the Securities Exchange Act of 1934 WLR FOODS, INC. (Name of Subject Company) WLR FOODS, INC. (Name of Person(s) Filing Statement) Common Stock, No Par Value (including the associated preferred stock purchase rights) (Title of Class of Securities) 929286 10 2 (CUSIP Number of Class of Securities) Delbert L. Seitz Chief Financial Officer WLR Foods, Inc. P.O. Box 7000 Broadway, Virginia 22815 (703) 896-7001 (Name, address and telephone number of person authorized to receive notice and communications on behalf of the person(s) filing statement) Copies to: Neil T. Anderson, Esq. John W. Flora, Esq. Sullivan & Cromwell Wharton, Aldhizer & Weaver 125 Broad Street 100 South Mason Street New York, New York 10004 Harrisonburg, Virginia 22801 (212) 558-4000 (703) 434-0316 2 This Amendment No. 17 amends and supplements the Solicitation/Recommendation Statement on Schedule 14D-9, dated March 14, 1994, as amended (the "Schedule 14D-9"), filed by WLR Foods, Inc., a Virginia corporation (the "Company"), relating to the tender offer disclosed in the Schedule 14D-1, dated March 9, 1994, as amended (the "Schedule 14D-1"), of the bidder, Tyson Foods, Inc., a Delaware corporation (the "Bidder"), to, through its wholly-owned subsidiary, WLR Acquisition Corp., purchase all of the outstanding Shares upon the terms and subject to the conditions set forth in the Offer to Purchase, dated March 9, 1994, and the related Letter of Transmittal (together, the "Offer"). Capitalized terms used and not defined herein shall have the meanings set forth in the Schedule 14D-9. Item 8. Additional Information to be Furnished. Item 8(c) is hereby amended and supplemented by adding thereto the following: On Saturday, May 21, 1994, pursuant to a control share acquisition statement delivered by the Bidder to the Company on April 14, 1994, a special meeting of shareholders was held to consider the Tyson Proposal to grant full voting rights to the Shares to be acquired by the Bidder or its "associates" (as defined in the Virginia Control Share Acquisition Statute) pursuant to the Offer and any other Shares that may be deemed to be a part of the control share acquisition. Pursuant to the Company's by-laws, the record date for the special meeting was April 14, 1994. Shareholders of record as of the record date, except holders of "interested shares", were entitled to vote at the special meeting. At the special meeting, James L. Keeler, President and Chief Executive Officer of the Company, stated that the Company delivered almost six million votes against the Tyson Proposal. Preliminary results of the special meeting tabulated by the inspectors of election are expected to be announced shortly thereafter. Following the special meeting, the Company issued two press releases. The first press release claimed that Bidder's proposal had been soundly defeated and summarized Mr. Keeler's remarks regarding the Company's preliminary tabulation of votes received by the Company and is filed as Exhibit 42 hereto. The second press release attached the speech of Mr. Keeler and comments made at the special meeting by Charles W. Wampler, Jr., Chairman of the Board, and is filed as Exhibit 43 hereto. Item 9. Material to be Filed as Exhibits. Item 9 is hereby amended and supplemented by adding thereto the following: Exhibit 42 -- Press Release, dated May 21, 1994. Exhibit 43 -- Press Release, dated May 21, 1994. 3 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: May 23, 1994 WLR FOODS, INC. By: /s/ James L. Keeler Name: James L. Keeler Title: President and Chief Executive Officer EX-99.29 2 WLR FOODS 14D9/A EX-99.29 WHICH IS EXHIBIT 42 1 Exhibit 42 [WLR FOODS, INC. LETTERHEAD] FOR IMMEDIATE RELEASE Contact: Gail Price, Director of Corporate Communication Phone: 703-896-0403 WLR FOODS CLAIMS VICTORY IN PROXY CONTEST Broadway, Virginia, May 21, 1994 -- WLR Foods Inc. (NASDAQ: WLRF) today claimed victory over Tyson Foods Inc. (NASDAQ: TYSNA) in the proxy contest to decide whether Tyson and its affiliates should be granted voting rights for shares of WLR Foods they may acquire, or have acquired, in their unfriendly takeover attempt. Shareholder voting took place at a Special Meeting of WLR Foods Inc. which was held today. James L. Keeler, President and Chief Executive Officer of WLR Foods said, "Our preliminary tabulation of management's proxies indicates broad support of WLR Foods shareholders against the Tyson proposal which appears soundly defeated. We now call upon Don Tyson to live up to his promise to go away if he loses the vote and look forward to the immediate termination of his inadequate tender offer. "The vote count by the Corporation Trust Company, the independent inspector of election, will probably not be completed for a few days. We will release the preliminary results as soon as they are available. "The proxy contest has taken an enormous amount of energy and resources and we look forward to refocusing all our energies toward continuing to build long-term shareholder value. On behalf of the entire WLR Foods family, thanks to everyone involved -- our shareholders, producers, employees and friends -- for their strong support." WLR Foods is a fully integrated provider of high quality turkey and chicken products primarily under the Wampler-Longacre(R) label and retail ice under the Cassco(R) label. This Fortune 500 company, with current annual revenues of $710 million, exports to more than 40 countries and has processing operations in Virginia, West Virginia and Pennsylvania, close to its major mid-Atlantic markets. ### EX-99.30 3 WLR FOODS 14D9/A EX-99.30 WHICH IS EXHIBIT 43 1 Exhibit 43 [WLR FOODS, INC. LETTERHEAD] FOR IMMEDIATE RELEASE Contact: Gail Price, Director of Corporate Communication Phone: 703-896-0403 WLR FOODS HOLDS SPECIAL SHAREHOLDERS' MEETING Broadway, Virginia, May 21, 1994 -- WLR Foods Inc. (NASDAQ: WLRF) today released the statements from Chairman of the Board of Directors Charles W. Wampler, Jr. and President and Chief Executive Officer James L. Keeler made today at a Special Meeting of WLR Foods Shareholders. The meeting was held to decide whether Tyson Foods Inc. (NASDAQ: TYSNA) and its affiliates should be granted voting rights for shares of WLR Foods they may acquire, or have acquired, in their unfriendly takeover attempt. The statement is attached. WLR Foods is a fully integrated provider of high quality turkey and chicken products primarily under the Wampler-Longacre(R) label and retail ice under the Cassco(R) label. This Fortune 500 company, with current annual revenues of $710 million, exports to more than 40 countries and has processing operations in Virginia, West Virginia and Pennsylvania, close to its major mid-Atlantic markets. ### -- more -- 2 Speech of James L. Keeler, President and Chief Executive Officer Special Shareholders Meeting of WLR Foods, Inc. May 21, 1994 Good afternoon, ladies and gentlemen. Having the opportunity to lead WLR Foods during the most challenging moment of its history has been the most remarkable experience of my career. The leadership of the people who have build this Company -- our shareholders, producers, employees and our Board -- will make Wall Street history today. Let me say right now that we look forward to the inspectors' report on today's vote since we are turning in to them today almost six million votes against the Tyson proposal. And, Don, let me say to you directly that we expect you to keep your promise to go away if you don't get 51% of the vote today. I always try to find a silver lining in everything, even difficult experiences like responding to a hostile takeover attempt. For me personally, the silver lining has been the support this company has experienced in the last five months. I do not take credit for the reputation that is the strength of WLR Foods. The Wamplers, the Masons, the Frackeltons, the Brosses and our many grower families get the credit for that. But it has been my privilege to experience the amazing outpouring of support for this company because of its reputation -- support from so many of you, from producers, employees, community leaders and citizens, charities, customers and suppliers. Even our competitors have encouraged us in our response to Tyson's hostile takeover attempt. It shows you what you know but don't say enough: . that the standard and habit of treating people honestly and fairly matters a whole lot. . that supporting hospitals and schools and people down on their luck, even when no one is looking, matters. . that the honor and character of managers and directors matter. These things matter and, when the chips are down, make you stronger. The shareholders sitting here today know this too. You know the true value of a company is something more than the last stock quote. You know that the important things are not just valued 3 for what they get you today, but for their benefits over time. Professional traders, called arbitrageurs, buy and sell companies for an eighth of a dollar, with no mind to communities, farmers, jobs, stability, history. Since Tyson showed up, they've been trying to add WLR Foods to their list of casualties, but you haven't let them. I can't tell you the number of nervous and threatening calls we've gotten from these short-term investors in the last few days, worried that you shareholders might reject Tyson's inadequate offer. And so to you, I say thank you. Thank you very much. Now let me tell you what WLR Foods is doing for you. Let's look at the future of WLR Foods. That's the story worth telling, worth hearing and worth sticking around for. First, our stock price. When rumors began to circulate that Tyson was going to lose the vote today, some of the New York arbitrageurs started selling blocks of stock to cut their losses. You know that predicting the stock market can be as difficult as predicting the poultry cycle. The stock could drop further after Tyson and the arbitrageurs drop us. But we believe the stock of this company will recover and again reach $30 and higher. This company made a strategic decision several years ago to grow -- internally and with friendly acquisitions -- during a down poultry cycle. Our instincts told us to get ready to take advantage of an upturn in poultry commodity prices. And that's exactly what's happening. Our $150 million capital investment program -- a program that has made WLR Foods a Fortune 500 company and 115% bigger than in 1988 -- was completed just in time for the current upswing in the poultry cycle. Our third quarter financial results demonstrate it and we are excited about this quarter and our future. Tyson wants WLR Foods now that we've done the work, just as the payoffs are starting, yet before the rewards have shown up in our stock price. In other words, he wants what is yours without having to pay you for it. This future belongs to you. Most of you here today, along with each member of our Board, agree that now is not the time to trade that future in for Tyson's inadequate offer. Another thing that is working so well for us right now is the recent consolidation of our chicken and turkey companies. We're just beginning to see the bottom line benefits of getting chicken and turkey people to work together to produce, process and sell poultry. In a business where a penny 4 a pound can translate into millions of dollars in earnings, efficient operations is more than a nice-sounding phrase. It's real money. And we are not finished. In addition to efficiently producing the best product mix in response to the always changing customer demand and market prices, we've got a pretty good knack for smart acquisitions. Without a doubt, we've got some of the best managers in the business. They know how to earn money, save money and make acquisitions work. We believe that WLR Foods is the industry's growth company of the future. Our growth, internally and through strategic acquisitions, have been a part of corporate strategy since we went public. And we intend to keep growing as an independent company, headquartered right here in Rockingham County. Finally, there's another silver lining that is also part of our future. Successfully fighting this hostile takeover has been a tremendous opportunity to tell the WLR Foods story -- especially here in Virginia where we are the topic of conversation. We anticipate significant interest in our company from new shareholders all across this Commonwealth. We believe the short-term investors will be replaced by loyal long-term investors who have a better appreciation for what this company stands for and its growth prospects. Your Board has recommended that you vote against Tyson's proposal today because if Tyson gets voting rights on its shares, it will use that power to try and force this company into a deal on Tyson's terms. As a legal matter, today's vote is a battle, not the war, in Tyson's hostile takeover attempt, but Tyson has repeatedly said that if he loses today, he will go back to Arkansas. Don, we don't know for sure how many blue cards you have, but we do know this. Of the total shares eligible to vote at this meeting, our office and our proxy solicitors have received white cards representing almost six million shares which voted against your proposal. You have sued each member of our Board, personally, and have subpoenaed each director, as well as several key managers, of our company to appear in court next week in your attempt to declare the shares voted by George Bryan, William Wampler, Charles Wampler and Herman Mason as well as others. Based on the white cards we have received, and eliminating all the shares held or 5 controlled by those four individuals, we still have more than enough white cards to reject your proposal. How many of you shareholders out there want Tyson Foods to do what Don promised and go back to Arkansas? Don, a good man knows when he's been turned down. And a good man keeps his word. We hope when you find out that you've been turned down, you'll stick to your word to go home. We wish Tyson Foods business success - -- we welcome the competition -- but WLR Foods wants its own success for its shareholders. In closing, I would like to again express the deep appreciation of every director for the tremendous support shown by shareholders, producers, employees and our local community throughout this hostile takeover. This support has meant everything to us and we are highly aware of the trust you've placed in us to continue to grow the value of your investment in WLR Foods. We are optimistic about our ability to do that and will devote our very best efforts on your behalf. Thank you. 6 Comments of Charles W. Wampler, Jr., Chairman of the Board of Directors Special Shareholders' Meeting of WLR Foods, Inc. May 21, 1994 I take great pleasure in announcing to you the company's opinion that the Tyson proposal has been soundly rejected, based on the white cards received by WLR Foods and our proxy solicitors' projection of the number of blue cards received by Tyson. The inspectors of election will proceed as promptly as practicable to tally the votes and when WLR Foods receives its report, the results will be publicly announced. -----END PRIVACY-ENHANCED MESSAGE-----