SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14D-9
SOLICITATION/RECOMMENDATION STATEMENT UNDER
SECTION 14(d)(4) OF THE SECURITIES EXCHANGE ACT OF 1934
ADC Telecommunications, Inc.
(Name of Subject Company)
ADC Telecommunications, Inc.
(Name of Person Filing Statement)
Common Stock
(Title of Class of Securities)
000886309
(CUSIP Number of Class of Securities)
Jeffrey D. Pflaum
ADC Telecommunications, Inc.
13625 Technology Drive
Eden Prairie, MN 55344
(952) 938-8080
(Name, address and telephone number of person authorized to receive notices
and communications on behalf of filing persons)
Copies to:
Robert A. Rosenbaum
Dorsey & Whitney LLP
50 South Sixth Street,
Suite 1500
Minneapolis, Minnesota
55402
(612) 340-2600
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Check the box if the filing relates solely to preliminary communications made before the
commencement of a tender offer. |
Introductory Note
The letter included in this filing was submitted by Robert E. Switz, CEO of ADC
Telecommunications, Inc. (ADC), to the Star Tribune newspaper in Minneapolis, Minnesota in
response to a story published by the Star Tribune about the proposed tender offer by Tyco
Electronics Ltd. for all the outstanding stock of ADC. The letter was published on
Saturday, July 17, 2010.
Forward-looking Statements
The letter attached below contains forward-looking statements that are not historical facts.
Investors and security holders are cautioned not to place undue reliance on these
forward-looking statements. The statements are based upon managements current expectations
and are subject to certain risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. Risks and uncertainties
that could cause results to differ from expectations include, among others: uncertainties
as to the timing of the transaction referenced in the letter; the risk that competing offers
will be made; the possibility that various closing conditions for the transaction may not be
satisfied or waived, including that a governmental entity may prohibit, delay or refuse to
grant approval for the consummation of the transaction; the effects of the transaction
making it more difficult to maintain relationships with employees, customers, vendors and
other business partners; and the risk that shareholder litigation in connection with the
transaction may result in significant costs of defense, indemnification and liability.
These risks and uncertainties also include those identified in the section captioned Risk
Factors in Item 1A of ADCs Annual Report on Form 10-K for the year ended September 30,
2009, as may be updated in Item 1A of ADCs subsequent Quarterly Reports on Form 10-Q or
other filings ADC makes with the SEC. ADC disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
ADC TELECOMMUNICATIONS
CEO responds to story on firms acquisition
On behalf of ADC Telecommunications and its more than 1,000 employees in Eden Prairie and Shakopee,
I am writing to express my disappointment in the Star Tribunes July 15 story ADC sale leaves
high-tech vacuum in Minnesota, with few able to fill it.
The speculation in this story about the future of ADCs talented people, innovative technology and
general business operations is unfounded. Additionally, it is inappropriate that we were not given
the opportunity to comment on the story, especially when the paper knows we are committed to open
and honest communications with the media.
We believe that our employees, customers, vendors, shareowners, community partners and your readers
deserve better during a time when both ADC and our planned acquirer, Tyco Electronics, have made no
decisions about our future operations here in Minnesota and around the world. To publish what
essentially is a postmortem on ADC just two days after the announced acquisition is at best
premature and at worst irresponsible.
Certainly, we recognize that an acquisition of ADC will bring changes to our company and its
presence in this community. However, the fact remains that Tyco Electronics sees in ADC a company
with a rich 75-year heritage that it plans to build upon.
Furthermore, the planned combination of the two global companies innovations and talent is a
tribute in part to what a great technology hub this community remains.
As we move toward an anticipated close on the acquisition later this year, we have a sincere hope
that the Star Tribune will take more care in how it reports on ADCs presence in the Twin Cities
community.
The final chapter of the ADC story has yet to be told.
ROBERT E. SWITZ, CHAIRMAN, PRESIDENT AND CEO, ADC
This letter is not a recommendation or solicitation with respect to the tender offer to be
commenced by Tyco Electronics Ltd. (TE) for all of the outstanding shares of the common stock of
ADC Telecommunications, Inc. (ADC). Upon commencement of the tender offer, TE will mail to ADC
shareowners an offer to purchase and related materials and ADC will mail to ADC shareowners a
solicitation/recommendation statement with respect to the tender offer. TE will file its offer to
purchase with the Securities and Exchange Commission (the SEC) on Schedule TO and ADC will file
its solicitation/recommendation statement with the SEC on Schedule 14D-9. ADC security holders are
urged to read these materials carefully when they become available since they will contain
important information, including the terms and conditions of the offer. Investors and ADC security
holders may obtain a free copy of these materials (when
available) and other documents filed by TE or ADC with the SEC at the website maintained by the SEC
at www.sec.gov. The offer to purchase and related materials, the solicitation/recommendation
statement, the Schedule TO and the Schedule 14D-9 may also be obtained (when available) for free by
contacting the information agent for the tender offer (when one is selected) or by contacting ADCs
Investor Relations Department at (952) 917-2507.