0001193125-11-085864.txt : 20110401 0001193125-11-085864.hdr.sgml : 20110401 20110401082138 ACCESSION NUMBER: 0001193125-11-085864 CONFORMED SUBMISSION TYPE: SC TO-T/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20110401 DATE AS OF CHANGE: 20110401 GROUP MEMBERS: VERIZON HOLDINGS INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TERREMARK WORLDWIDE INC. CENTRAL INDEX KEY: 0000912890 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 521989122 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC TO-T/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-50879 FILM NUMBER: 11728708 BUSINESS ADDRESS: STREET 1: ONE BISCAYNE TOWER STREET 2: 2 SOUTH BISCAYNE BLVD., SUITE 2800 CITY: MIAMI STATE: FL ZIP: 33131 BUSINESS PHONE: 305-961-3200 MAIL ADDRESS: STREET 1: ONE BISCAYNE TOWER STREET 2: 2 SOUTH BISCAYNE BLVD., SUITE 2800 CITY: MIAMI STATE: FL ZIP: 33131 FORMER COMPANY: FORMER CONFORMED NAME: TERREMARK WORLDWIDE INC DATE OF NAME CHANGE: 20000503 FORMER COMPANY: FORMER CONFORMED NAME: AMTEC INC DATE OF NAME CHANGE: 19970715 FORMER COMPANY: FORMER CONFORMED NAME: AVIC GROUP INTERNATIONAL INC/ DATE OF NAME CHANGE: 19950323 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VERIZON COMMUNICATIONS INC CENTRAL INDEX KEY: 0000732712 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 232259884 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC TO-T/A BUSINESS ADDRESS: STREET 1: 140 WEST STREET STREET 2: 29TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10007 BUSINESS PHONE: 212-395-1000 MAIL ADDRESS: STREET 1: 140 WEST STREET STREET 2: 29TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10007 FORMER COMPANY: FORMER CONFORMED NAME: BELL ATLANTIC CORP DATE OF NAME CHANGE: 19920703 SC TO-T/A 1 dsctota.htm AMENDMENT NO. 6 TO SCHEDULE TO Amendment No. 6 to Schedule TO

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE TO

 

 

Tender Offer Statement under Section 14(d)(1) or 13(e)(1)

of the Securities Exchange Act of 1934

(Amendment No. 6)

 

 

TERREMARK WORLDWIDE, INC.

(Name of Subject Company (Issuer))

VERIZON HOLDINGS INC.

(Offeror)

a wholly-owned subsidiary of

VERIZON COMMUNICATIONS INC.

(Parent of Offeror)

 

 

Common Stock, $.001 par value

(Title of Class of Securities)

881448203

(CUSIP Number of Class of Securities)

William L. Horton, Jr., Esq.

Senior Vice President, Deputy General Counsel and Corporate Secretary

Verizon Communications Inc.

140 West Street

New York, New York 10007

(212) 395-1000

(Name, address, and telephone numbers of person authorized to receive notices and communications on behalf of filing persons)

 

 

Copies to:

Frederick S. Green, Esq.

Michael E. Lubowitz, Esq.

Weil, Gotshal & Manges LLP

767 Fifth Avenue

New York, NY 10153

(212) 310-8000

 

 

CALCULATION OF FILING FEE

 

 
Transaction Valuation(1)   Amount of Filing Fee(2)

$1,514,272,412.00

  $175,807.03
 
 

 

(1) Estimated for purposes of calculating the filing fee only. The transaction valuation was calculated by adding (i) 67,402,815 shares of common stock of Terremark Worldwide, Inc. (“Terremark”) outstanding multiplied by the offer price of $19.00 per share, (ii) 2,030,268 shares of common stock of Terremark, which were subject to issuance pursuant to the exercise of outstanding options multiplied by $19.00, (iii) 3,168,437 unvested shares of restricted common stock of Terremark multiplied by $19.00, (iv) 2,014,750 shares of common stock of Terremark, which were subject to issuance pursuant to the exercise of outstanding warrants multiplied by $19.00 and (v) 5,082,278 shares of common stock of Terremark reserved for issuance upon the conversion of the 6.625% senior convertible notes of Terremark due 2013, which is the number of shares of common stock that may be issued under the convertible notes assuming an offer price of $19.00 per share and a closing date of March 11, 2011. Other than with respect to the number of shares of common stock of Terremark reserved for issuance upon the conversion of the 6.625% senior convertible notes of Terremark due 2013, the calculation of the filing fee is based on Terremark’s representation of its capitalization as of January 26, 2011, as set forth in the Agreement and Plan of Merger, dated as of January 27, 2011 by and among Verizon Communications Inc., Verizon Holdings Inc. and Terremark.
(2) The filing fee was calculated in accordance with Rule 0-11 under the Securities Exchange Act of 1934 by multiplying the transaction value by 0.00011610.

 

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.

 

Amount Previously Paid:

  $175,807.03    Filing Party:    Verizon Communications Inc. and Verizon Holdings Inc.

Form of Registration No.:

 

Schedule TO

   Date Filed:    February 10, 2011

 

¨ 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 transactions to which the statement relates:

 

x Third-party tender offer subject to Rule 14d-1.

 

¨ Issuer tender offer subject to Rule 13e-4.

 

¨ Going-private transaction subject to Rule 13e-3.

 

¨ 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.   ¨

 

 

 


This Amendment No. 6 to the Tender Offer Statement on Schedule TO (this “Amendment”) filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 1, 2011, amends and supplements the Tender Offer Statement on Schedule TO filed on February 10, 2011 (the “Schedule TO”), as amended by Amendment No. 1 filed on February 18, 2011 (“Amendment No. 1”), Amendment No. 2 filed on February 28, 2011 (“Amendment No. 2”), Amendment No. 3 filed on March 15, 2011 (“Amendment No. 3”), Amendment No. 4 filed on March 30, 2011 (“Amendment No. 4”) and Amendment No. 5 filed on March 31, 2011 (“Amendment No. 5”), and relates to the offer by Purchaser (as defined below) to purchase all of the outstanding shares of common stock, par value $.001 per share (the “Shares”), of Terremark Worldwide, Inc., a Delaware corporation (“Terremark”), at a purchase price of $19.00 per Share, net to the seller in cash, without interest thereon and less any applicable withholding taxes, upon the terms and subject to the conditions set forth in the Offer to Purchase dated February 10, 2011 (which, together with this Amendment and any previous or future amendments and supplements thereto, collectively constitute the “Offer to Purchase”) and in the related Letter of Transmittal, copies of which are attached to the Schedule TO as Exhibits (a)(1)(A) and (a)(1)(B), respectively (which, together with the Offer to Purchase, as each may be amended or supplemented from time to time, collectively constitute the “Offer”). The Schedule TO (including the Offer to Purchase) filed with the SEC by Verizon Holdings Inc., a Delaware corporation (“Purchaser”) and Verizon Communications Inc., a Delaware corporation and the sole stockholder of Purchaser (“Parent”), on February 10, 2011, as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment No. 5 and this Amendment, and the Solicitation/Recommendation Statement on Schedule 14D-9 filed with the SEC by Terremark on February 11, 2011, as amended on February 15, 2011, February 18, 2011, March 1, 2011, March 15, 2011, March 30, 2011 and March 31, 2011 (and any further amendments thereto), contain important information about the Offer, all of which should be read carefully by Terremark stockholders before any decision is made with respect to the Offer. The Offer is made pursuant to the Agreement and Plan of Merger, dated as of January 27, 2011, as amended on February 28, 2011, by and among Parent, Purchaser and Terremark.

Documentation relating to the Offer has been mailed to Terremark stockholders and may be obtained at no charge at the website maintained by the SEC at www.sec.gov and may also be obtained by directing a request by mail to Georgeson Inc., 199 Water Street, 26th Floor, New York, New York 10038, or by calling toll-free at (800) 903-2897.

All information set forth in the Offer to Purchase and the related Letter of Transmittal is incorporated by reference in answer to Items 1 through 12 in the Schedule TO (as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4 and Amendment No. 5), except those items as to which information is specifically provided herein. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Offer to Purchase.

Item 11. Additional Information.

Item 11 of the Schedule TO is amended and supplemented by adding the following text to such Item:

The initial offering period and withdrawal rights expired at 12:00 Midnight, New York City time, on Thursday, March 31, 2011. According to the Depositary, as of such time, an aggregate of 59,754,625 Shares were validly tendered and not withdrawn pursuant to the Offer. This represents approximately 70.90% of the outstanding Shares on a fully diluted basis and 84.06% percent of the outstanding Shares. The Purchaser has accepted such tendered Shares for payment pursuant to the terms of the Offer. Payment for Shares accepted for payment is expected to be made promptly.

As a result of the acceptance of, and payment for, tendered Shares pursuant to the Offer, the Merger Agreement grants Parent the right to designate a number of individuals to the Terremark Board who, following their appointment, will constitute a majority of the Terremark Board. Parent’s designated individuals are expected to join the Terremark Board on April 4, 2011.

In accordance with the Merger Agreement, the Purchaser commenced a subsequent offering period in connection with the Offer, at 9:00 a.m., New York City time, on Friday, April 1, 2011, for all remaining untendered Shares. The subsequent offering period will expire at 5:00 p.m., New York City time, on Thursday, April 7, 2011, unless extended. Parent and the Purchaser reserve the right to extend the subsequent offering period in accordance with applicable law. Any such extension will be followed by a public announcement, which will be issued no later than 9:00 a.m., New York City time, on the next business day after the subsequent offering period was scheduled to expire. During the subsequent offering period, the Purchaser will accept for payment, and promptly purchase, validly tendered Shares. Terremark stockholders who validly tender their Shares during the subsequent offering

 

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period will receive the same $19.00 per Share, net to the seller in cash, without interest thereon and less any applicable withholding taxes, that is payable to stockholders who tendered their Shares during the initial offering period. Procedures for tendering Shares during the subsequent offering period are the same as during the initial offering period with two exceptions: (i) Shares cannot be delivered by the guaranteed delivery procedure and (ii) pursuant to Rule 14d-7(a)(2) under the Securities Exchange Act of 1934, as amended, Shares validly tendered during the subsequent offering period will be accepted for payment on a daily, “as tendered” basis and, accordingly, may not be withdrawn.

On Friday, April 1, 2011, Parent issued a press release announcing the preliminary results of the Offer and the commencement of the subsequent offering period. The full text of this press release is filed as Exhibit (a)(5)(J) to the Schedule TO and is incorporated herein by reference.

Item 12.

Item 12 of the Schedule TO is hereby amended by adding the following exhibit thereto:

 

Exhibit

 

Exhibit Name

(a)(5)(J)   Press Release issued by Parent on April 1, 2011.

 

3


SIGNATURE

After due inquiry and to the best of the knowledge and belief of each of the undersigned, each of the undersigned hereby certifies that the information set forth in this statement is true, complete and correct.

 

VERIZON COMMUNICATIONS INC.
By:         /s/ John W. Diercksen
  Name:     John W. Diercksen
  Title:       Executive Vice President – Strategy,
                  Development and Planning
VERIZON HOLDINGS INC.
By:  

      /s/ John W. Diercksen

  Name:     John W. Diercksen
  Title:       Executive Vice President – Strategy,
                  Development and Planning

Date: April 1, 2011

EX-99.(A)(5)(J) 2 dex99a5j.htm PRESS RELEASE Press Release

Exhibit (a)(5)(J)

 

NEWS RELEASE   

LOGO

 

FOR IMMEDIATE RELEASE

April 1, 2011

  

Media contact:

Peter Lucht

617-743-6809

peter.lucht@verizon.com

Verizon Completes Tender Offer for Terremark Worldwide,

Inc.; Announces Subsequent Offering Period

NEW YORK – Verizon Communications Inc. (NYSE, NASDAQ: VZ) today announced the successful completion of the tender offer made by Verizon’s wholly owned subsidiary, Verizon Holdings Inc., for all outstanding shares of Terremark Worldwide, Inc. (NASDAQ: TMRK) common stock.

The tender offer and withdrawal rights expired at midnight Eastern time on March 31. According to the depositary for the tender offer, approximately 59,754,625 shares were validly tendered and not withdrawn as of the expiration time. This represents approximately 70.90 percent of Terremark’s outstanding shares of common stock on a fully diluted basis and 84.06 percent of Terremark’s outstanding shares of common stock, giving Verizon control of Terremark. Verizon Holdings has accepted for purchase all shares that were validly tendered and not properly withdrawn and will promptly pay for such shares at the offer price of $19 per share, net to the seller in cash, without interest and less any applicable withholding taxes.


Verizon News Release

 

Verizon today also announced that Verizon Holdings has commenced a subsequent offering period to acquire the remaining untendered shares of Terremark common stock. The subsequent offering period will expire at 5:00 p.m. Eastern time on April 7, unless extended. During this subsequent offering period, holders of shares of Terremark common stock who did not previously tender their shares into the initial tender offer may do so, and Verizon Holdings will promptly purchase any shares properly tendered, for the same consideration (without interest) paid in the initial offering period of the tender offer.

Procedures for tendering shares during the subsequent offering period are the same as during the initial offering period, with two exceptions: (1) shares cannot be delivered by the guaranteed delivery procedure; and (2) shares validly tendered during the subsequent offering period will be accepted for payment on a daily “as tendered” basis, and accordingly, may not be withdrawn. Verizon and Verizon Holdings reserve the right to extend the subsequent offering period in accordance with applicable law.

Following the subsequent offering period, if Verizon Holdings has acquired at least 90 percent of the shares of Terremark common stock then outstanding, Verizon Holdings intends to merge with and into Terremark in accordance with the “short-form” merger provisions of the Delaware General Corporate Law, without prior notice to, or any action by, any other Terremark stockholder. If Verizon Holdings is not able to consummate a “short-form” merger, it intends to seek approval of the merger by a vote of Terremark stockholders at a duly held special meeting that is expected to be scheduled during the second quarter of 2011. As a result of Verizon Holdings’ purchase of shares in the tender offer, it will be able to approve the merger without the affirmative vote of any other Terremark stockholder at the meeting.

 

2


Verizon News Release

 

As a result of the merger, any shares of Terremark common stock not tendered will be cancelled and (except for shares held in the treasury of Terremark or by Verizon or Verizon Holdings, or shares for which appraisal rights are properly demanded) will be converted into the right to receive the same $19 in cash per share, without interest and less any applicable withholding taxes, that was paid in the tender offer. Accordingly, all Terremark stockholders will receive the same $19 cash consideration per share whether they tender their shares during the subsequent offering period or not, but those who do tender their shares during the subsequent offering period will receive the consideration sooner than stockholders who wait for the merger to be consummated. Following the merger, Terremark common stock will cease to be traded on NASDAQ.

Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, serving 94.1 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of more than 194,000 and last year generated consolidated revenues of $106.6 billion. For more information, visit www.verizon.com.

####

VERIZON’S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon’s News Center on the World Wide Web at www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

Additional Information and Where to Find It

This release is neither an offer to purchase nor a solicitation of an offer to sell securities. Verizon – through a new subsidiary, Verizon Holdings Inc. – has filed a tender offer statement on Schedule TO with the SEC, which has been previously amended. Terremark stockholders are strongly advised to read the tender offer statement (including the offer to purchase, letter of transmittal and related tender offer documents) and the related solicitation/recommendation statement on Schedule 14D-9, as amended, filed by Terremark with the SEC because they contain important information about the proposed transaction. These documents are available at no charge on the SEC’s website at www.sec.gov. In addition, a copy of the offer to purchase, letter of transmittal and certain other related tender offer documents may be obtained free of charge by directing a request to Verizon at 212-395-1525. A copy of the tender offer

 

3


Verizon News Release

 

statement and the solicitation/recommendation statement is available to all stockholders of Terremark by contacting Terremark Investor Relations at 305-860-7822.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements in this communication regarding the proposed transaction between Verizon and Terremark, the expected timetable for completing the transaction, benefits and synergies of the transaction, future opportunities for the combined company and products and any other statements regarding Verizon’s and Terremark’s future expectations, beliefs, goals or prospects constitute forward-looking statements. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered forward-looking statements. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, including the parties’ ability to consummate the transaction; the timing for satisfying the conditions to the completion of the transaction, including the receipt of Terremark stockholder approval and the regulatory approvals required for the transaction; the parties’ ability to meet expectations regarding the timing, completion and accounting and tax treatments of the transaction; the possibility that the parties may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate Terremark’s operations into those of Verizon or that such integration may be more difficult, time-consuming or costly than expected; operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers) may be greater than expected following the transaction; the retention of certain key employees of Terremark may be difficult; and the other factors described in Verizon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010, and Terremark’s Annual Report on Form 10-K for the fiscal year ended March 31, 2010 and in its most recent quarterly report filed with the SEC. Verizon and Terremark assume no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

The Depositary for the tender offer is Computershare Trust Company, N.A. The Information Agent for the tender offer is Georgeson Inc. The tender offer materials may be obtained at no charge by directing a request by mail to Georgeson Inc., 199 Water Street, 26th Floor, New York, New York 10038 or by calling toll-free at (800) 903-2897, and may also be obtained at no charge at www.verizon.com and the website maintained by the SEC at www.sec.gov. Additionally, any questions related to the tender offer may be directed to Georgeson Inc. at the mailing address or telephone number provided above.

 

4

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