-----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, J8p54bbuswm8zbOIGD34MARFn/aNUtwOFEsybB80BIEuy6X4SFwxz36badcEo/fp 0QHj27C+7R12EKfzH4V+zQ== /in/edgar/work/20000710/0000912057-00-031210/0000912057-00-031210.txt : 20000712 0000912057-00-031210.hdr.sgml : 20000712 ACCESSION NUMBER: 0000912057-00-031210 CONFORMED SUBMISSION TYPE: SC TO-I/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20000710 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CASTLE & COOKE INC/HI/ CENTRAL INDEX KEY: 0001002506 STANDARD INDUSTRIAL CLASSIFICATION: [6552 ] IRS NUMBER: 770412800 STATE OF INCORPORATION: HI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13E3/A SEC ACT: SEC FILE NUMBER: 005-45783 FILM NUMBER: 669622 BUSINESS ADDRESS: STREET 1: 10900 WILSHIRE BLVD CITY: LOS ANGELES STATE: CA ZIP: 90024 BUSINESS PHONE: 3102083636 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CASTLE & COOKE INC/HI/ CENTRAL INDEX KEY: 0001002506 STANDARD INDUSTRIAL CLASSIFICATION: [6552 ] IRS NUMBER: 770412800 STATE OF INCORPORATION: HI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC TO-I/A SEC ACT: SEC FILE NUMBER: 005-45783 FILM NUMBER: 669623 BUSINESS ADDRESS: STREET 1: 10900 WILSHIRE BLVD CITY: LOS ANGELES STATE: CA ZIP: 90024 BUSINESS PHONE: 3102083636 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MURDOCK DAVID H CENTRAL INDEX KEY: 0000875392 STANDARD INDUSTRIAL CLASSIFICATION: [0000 ] STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC TO-I/A BUSINESS ADDRESS: STREET 1: 31365 OAK CREST DRIVE CITY: WESTLAKE VILLAGE STATE: CA ZIP: 91361 BUSINESS PHONE: 8188796812 MAIL ADDRESS: STREET 1: 31365 OAK CREST DR CITY: WESTWESTLAKE VILLAGE STATE: CA ZIP: 91361 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MURDOCK DAVID H CENTRAL INDEX KEY: 0000875392 STANDARD INDUSTRIAL CLASSIFICATION: [0000 ] STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC TO-I/A BUSINESS ADDRESS: STREET 1: 31365 OAK CREST DRIVE CITY: WESTLAKE VILLAGE STATE: CA ZIP: 91361 BUSINESS PHONE: 8188796812 MAIL ADDRESS: STREET 1: 31365 OAK CREST DR CITY: WESTWESTLAKE VILLAGE STATE: CA ZIP: 91361 SC TO-I/A 1 scto-ia.txt SC TO-I/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Tender Offer Statement Under Section 14(d)(1) or 13(e)(1) of the Securities Exchange Act of 1934 (Amendment No. 5)* CASTLE & COOKE, INC. (Name of Subject Company (issuer)) CASTLE ACQUISITION COMPANY, INC. - Offeror CASTLE & COOKE HOLDINGS, INC. - Parent of Offeror FLEXI-VAN LEASING, INC. - Indirect Parent of Offeror DAVID H. MURDOCK - Sole Shareholder of Flexi-Van Leasing, Inc. (Name of Filing Persons (identifying status as offeror, issuer or other person) COMMON STOCK, NO PAR VALUE (Title of Class of Securities) Roberta Wieman 10900 Wilshire Boulevard Los Angeles, California 90024 Telephone: (310) 208-6055 (Name, address and telephone numbers of person authorized to receive notices and communications on behalf of filing persons) Copies to: Peter J. Tennyson, Esq. Paul, Hastings, Janofsky & Walker LLP 695 Town Center Drive, Seventeenth Floor Costa Mesa, California 92626-1924 Telephone: (714) 668-6200 CALCULATION OF FILING FEE - ---------------------------------------- --------------------------------------- Transaction valuation* Amount of filing fee - ---------------------------------------- --------------------------------------- - ---------------------------------------- --------------------------------------- $256,606,099.75 $51,321.22 - ---------------------------------------- --------------------------------------- * Estimated for purposes of calculating the amount of filing fee only. The amount assumes the purchase of 13,330,187 shares of common stock, having no par value, at a price per share of $19.25 in cash. Such number of shares represents all of the Shares outstanding as of May 19, 2000, MINUS the shares already beneficially owned by Offeror and its affiliates, PLUS the number of options outstanding on May 19, 2000 that according to the Agreement and Plan of Merger, dated May 19, 2000, must be accelerated, MINUS the options already owned by David H. Murdock that according to the Agreement and Plan of Merger, dated May 19, 2000, will be cancelled. |X| Check the 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. (1) Amount Previously Paid: $49,321.70 -------------------- Form or Registration No.: 005-45783 ---------------------- Filing Party: David H. Murdock ---------------------------------- Date Filed: May 31, 2000 ---------------------------------- (2) Amount Previously Paid: $1,999.52 -------------------- Form or Registration No.: 005-45783 ---------------------- Filing Party: David H. Murdock ---------------------------------- Date Filed: June 22, 2000 ---------------------------------- | | 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 transaction to which the statement relates: | | third-party tender offer subject to Rule 14d-1. |X| issuer tender offer subject to Rule 13e-4. |X| going-private transaction subject to Rule 13e-3. |X| 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: | | ================================================================================ CUSIP No. 148433105 13D --------- - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons David H. Murdock - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* OO - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization U.S. - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power 4,616,977 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power O -------------------------------------------------- (9) Sole Dispositive Power 4,616,977 -------------------------------------------------- (10) Shared Dispositive Power O - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 4,616,977 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 27.1% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* IN - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! ================================================================================ CUSIP No. 148433105 13D --------- - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons Flexi-Van Leasing Inc. - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* OO - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization Delaware - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power 0 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 0 -------------------------------------------------- (9) Sole Dispositive Power 0 -------------------------------------------------- (10) Shared Dispositive Power 0 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 0 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 0% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* CO - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! ================================================================================ CUSIP No. 148433105 13D --------- - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons Castle Acquisition Company, Inc. - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* OO - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization Hawaii - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power 4,501,310 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 0 -------------------------------------------------- (9) Sole Dispositive Power 4,501,310 -------------------------------------------------- (10) Shared Dispositive Power 0 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 4,501,310 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 26.4% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* CO - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! ================================================================================ CUSIP No. 148433105 13D --------- - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons Castle & Cooke Holdings, Inc. - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* OO - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization Delaware - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power O by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power O -------------------------------------------------- (9) Sole Dispositive Power O -------------------------------------------------- (10) Shared Dispositive Power O - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person O - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 0.0% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* CO - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! This Amendment No. 5 amends and supplements the Tender Offer Statement on Schedule TO (which together with Amendments No. 1, No. 2, No. 3 and No. 4 to the Tender Offer Statement constitute the "Tender Offer Statement") filed by Castle Acquisition Company, Inc., a Hawaii corporation ("Purchaser") and a wholly owned subsidiary of Castle & Cooke Holdings, Inc., a Delaware corporation ("Parent") and a wholly owned subsidiary of Flexi-Van Leasing, Inc., a Delaware corporation ("FLX") which is 100% owned by David H. Murdock ("DHM") relating to the offer by Purchaser to purchase all of the outstanding shares of common stock, having no par value (the "Shares"), of Castle & Cooke, Inc., a Hawaii corporation (the "Company"), at a purchase price of $19.25 per Share, net to the seller in cash, without interest, upon the terms and subject to the conditions set forth in the Offer to Purchase dated May 31, 2000 (the "Offer to Purchase") as supplemented by the First Supplement, dated June 28, 2000, to the Offer to Purchase, (the "First Supplement", and, together with the Offer to Purchase, the "Revised Offer") and in the related Letters of Transmittal. The information set forth in the exhibits identified in Item 12 and attached hereto is incorporated herein by reference with respect to Items 1, 4, 11 & 13. On July 10, 2000, FLX provided the Information Agent, Georgeson Shareholder Communications, Inc., with certain guidelines to use in dealing with some questions callers have raised concerning appraisal rights. The guidelines are not intended to cover all issues or to be used as a script, or to constitute legal advice. The guidelines are attached as Exhibit 99(a)(28) and are qualified in their entirety by the text of Section 415-81 of the Hawaii Business Corporation Act, a copy of which is attached as Schedule II to the Offer to Purchase. All capitalized terms used herein and not otherwise defined shall have the meanings given to those terms in the Revised Offer. Item.12. EXHIBITS Item 12 of the Tender Offer Statement is supplemented by adding the following information thereto: 99(a)(27) Text of press release issued by FLX dated July 10, 2000 99(a)(28) Memorandum for Georgeson Shareholder Communications Inc. Personnel Giving Guidelines for Appraisal Rights 2 SIGNATURE After due 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: July 10, 2000 CASTLE ACQUISITION COMPANY, INC. By: /s/ DAVID H. MURDOCK -------------------------------------- Name: David H. Murdock ----------------------------- Title: Chairman of the Board, CEO & President ---------------------------------------- CASTLE & COOKE HOLDINGS, INC. By: /s/ DAVID H. MURDOCK -------------------------------------- Name: David H. Murdock ----------------------------- Title: Chairman of the Board, CEO & President ---------------------------------------- FLEXI-VAN LEASING, INC. By: /s/ DAVID H. MURDOCK -------------------------------------- Name: David H. Murdock ----------------------------- Title: Chairman of the Board & CEO ---------------------------------------- DAVID H. MURDOCK /s/ DAVID H. MURDOCK ------------------------------ 3 EX-99.(A)(27) 2 ex-99_a27.txt EXHIBIT 99(A)(27) Castle & Cooke, Inc. NEWS RELEASE Contact: Dean R. Estrada (310) 209-3804 CASTLE & COOKE, INC. AND FLEXI-VAN LEASING, INC. ANNOUNCE FIVE DAY EXTENSION OF TENDER OFFER THROUGH JULY 14, 2000 LOS ANGELES, California, July 10, 2000 - Castle & Cooke, Inc. (NYSE: CCS) and Flexi-Van Leasing, Inc. announced today that the cash offer of $19.25 per share by Flexi-Van's wholly-owned subsidiary, Castle Acquisition Company, Inc., for the shares of Castle & Cooke, Inc., which Flexi-Van and its affiliates do not already own, will be extended for five days until midnight New York time on July 14, 2000. As of July 7, 2000, approximately 7.1 million shares were tendered in response to the tender offer. Following acceptance of these shares, Castle Acquisition Company, Inc. would own approximately 68% of the Castle & Cooke shares. Flexi-Van has conditioned its offer on the valid tender of 75% of the shares held by persons unaffiliated with Flexi-Van. An additional 2.3 million shares must be received to satisfy the minimum condition. The extension of the tender offer is intended to provide shareholders who are withholding shares or have not yet tendered shares additional time to tender their shares so that the minimum condition can be met. The merger agreement allows termination of the offer if the minimum condition is not met. Other than the extension of the offer, the terms of the offer remain unchanged. Shareholders should continue to refer to the original Offer to Purchase dated May 31, 2000 and the First Supplement to Offer to Purchase dated June 28, 2000, which disclose the details of the tender offer. Any questions concerning the offer and how to participate should be addressed to Georgeson Shareholder Communications Inc. at (800) 223-2064 (toll free) in the United States or at (212) 440-9800 (collect) elsewhere. Castle & Cooke, Inc. is a developer of residential and commercial real estate in Hawaii, California, North Carolina, Arizona, Georgia and Florida. The company also owns and operates two of the world's highest-rated resorts on the island of Lana'i in Hawaii. EX-99.(A)(28) 3 ex-99_a28.txt EXHIBIT 99(A)(28) MEMORANDUM FOR GEORGESON SHAREHOLDER COMMUNICATIONS INC. PERSONNEL FOR USE IN RESPONDING TO INQUIRIES ABOUT DISSENTERS' RIGHTS IN CONNECTION WITH FLEXI-VAN'S OFFER FOR CASTLE & COOKE, INC. (THE "COMPANY") Over the last week or so, a number of questions have come from shareholders of the Company who are asking for information about how to exercise dissenters' rights or appraisal rights under Hawaii law. The following are guidelines you should use in answering those questions: 1. DO NOT GIVE LEGAL ADVICE. Tell shareholders that they should be consulting their own lawyer and that they should read the copy of the Hawaii appraisal rights statute which is found at page II-1 of the Offer to Purchase. Tell them that they will need to follow the procedures specified in the statute carefully because failure to follow the required procedures risks the loss of appraisal rights. 2. If the shareholders ask whether they are guaranteed to receive $19.25 per share and have the possibility of an increase through appraisal rights, point out that the offering materials state that the price in an appraisal proceeding could be less than the offer price of $19.25 per share (page 13 of the Offer to Purchase). This is because Hawaii law defines the "fair value" of the shares to be paid in the appraisal proceeding as the value of the shares immediately before the effectuation of the corporate action to which the dissenter objects, excluding any appreciation or depreciation in anticipation of the corporate action, unless the exclusion would be inequitable. The Company could take the position that most or all of the difference between the offer price and the market prices prevailing before the offer was announced is value attributable to the offer itself, constituting appreciation in anticipation of the corporate action, and therefore, the Company could take the position that "fair value" is as low as $12.06 per share, which was the market price before the announcement of the offer. 3. Some shareholders have indicated that they believe all shareholders will receive an advance payment in the appraisal rights proceeding. If this question comes up, shareholders should consider that the appraisal rights statute only requires the Company to pay dissenting shareholders in advance if such shareholders held their shares prior to the announcement of the terms of the transaction. While it is not clear what the statute means in this regard, the Company may take the position that persons who purchased their shares after March 29, 2000, when the transaction was announced, are not entitled to an advance payment. Ultimately, in case of disputes, a Hawaii court may have to decide who gets an advance payment. 4. Is it automatic that an appraiser will be appointed? The statute states that the Company must, after the expiration of certain notice periods that could take up to 90 days, seek a judicially determined appraisal of the value of shares held by people who have properly followed the dissenting shareholder procedures. The court could appoint a professional appraiser to study the value of the shares, but it is uncertain whether it would do so. 5. Who pays the costs of any court proceeding to determine fair value? The expenses of the proceeding, including compensation and expenses of appraisers appointed by the court (if appointed), and fees and expenses of counsel and of experts for the respective parties, may be assessed against the Company if the court so determines, and in some cases, against some or all of the dissenters. 6. What is the likely time period for resolving any dispute over the question of fair value? This is unclear. However, Flexi-Van anticipates that a court process would not start until at least 60 days after the merger (which may not occur until September), and would last a number of months at a minimum. It is possible that the dissenting shareholders would not receive the court's determination of fair value until after a year or more from the closing of the tender offer. These guidelines are furnished based on the comments or questions that have been coming up regularly. Do not raise these issues yourself: they are guidelines to use if a caller raises them. If issues not covered above are raised, or if a caller wants to debate the issue, see Item 1 above and suggest they consult an attorney. A statement in the guidelines above that the Company "could" take a position does not mean the Company will not take a different position in particular circumstances. -----END PRIVACY-ENHANCED MESSAGE-----