SC TO-I: Issuer tender offer statement
Published on May 16, 2006
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
QUANTA SERVICES, INC.
(Name of Subject Company (issuer))
QUANTA SERVICES, INC. (ISSUER)
(Name of Filing Person (identifying status as offeror, issuer
or other person))
4.0% Convertible Subordinated Notes
due 2007
(Title of Class of Securities)
74762EAA0
(CUSIP Number of Class of Securities)
Tana L. Pool, Esq.
Vice President and General Counsel
Quanta Services, Inc.
1360 Post Oak Blvd., Suite 2100
Houston, Texas 77056
(713) 629-7600
(Name, address and telephone number of person authorized to
receive
notices and communications on behalf of the filing
persons)
Copy to:
W. Robert Shearer
Baker & Hostetler LLP
1000 Louisiana, Suite 2000
Houston, Texas 77002-5009
CALCULATION OF FILING FEE
Transaction Valuation(*) | Amount of Filing Fee | |
$169,912,500
|
$18,181 |
(*) | Calculated solely for purpose of determining the amount of the filing fee and based upon a purchase of $172,500,000 principal amount of Quanta Services 4.0% Convertible Subordinated Notes due 2007 at a purchase price of $985 per $1,000 principal amount outstanding. The amount of the filing fee, $107.00 for each $1,000,000 of value, was calculated in accordance with Rule 0-11 of the Securities Exchange Act of 1934, as amended. |
o | 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: N/A
Form or Registration No.: N/A
Filing Party: N/A
Date Filed: N/A
o | Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer. |
Check the appropriate boxes to designate any transactions to
which this statement relates:
o
|
third party tender offer subject to Rule 14d-1 | o | going-private transaction subject to Rule 13e-3 | |||
þ
|
issuer tender offer subject to Rule 13e-4 | o | 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: o
This Tender Offer Statement on Schedule TO (this
Schedule TO) relates to an offer by Quanta
Services, Inc., a Delaware corporation (the
Company), to purchase for cash any and all of the
Companys 4.0% Convertible Subordinated Notes due 2007
(the Notes) upon the terms and subject to the
conditions contained in the Offer to Purchase dated May 16,
2006 (as amended or supplemented from time to time, the
Offer to Purchase), a copy of which is attached
hereto as Exhibit (a)(1)(i), and the related Letter of
Transmittal (as amended or supplemented from time to time, the
Letter of Transmittal), a copy of which is attached
hereto as Exhibit (a)(1)(ii) (which together with the Offer
to Purchase constitutes the Offer). The Notes were
issued by the Company on July 25, 2000 pursuant to a
Subordinated Indenture, dated as of July 25, 2000, between
the Company and Chase Bank of Texas, National Association, as
Trustee, as supplemented by the First Supplemental Indenture,
dated as of July 25, 2000, between the Company and Chase
Bank of Texas, National Association, as Trustee (as so
supplemented, the Indenture). HSBC Bank USA,
National Association is the current Trustee (the
Trustee) under the Indenture, as successor in
interest to Chase Bank of Texas, National Association.
This Schedule TO is intended to satisfy the reporting
requirements of
Rule 13e-4 under
the Securities Exchange Act of 1934, as amended (the
Exchange Act). The information in the Offer to
Purchase and the related Letter of Transmittal is incorporated
by reference as set forth below.
Item 1. | Summary Term Sheet. |
The information under the heading Summary Term Sheet
in the Offer to Purchase is incorporated herein by reference in
response to this Item 1.
Item 2. | Subject Company Information. |
a. Name and address. The issuer of the Notes that are
subject to the Offer is Quanta Services, Inc., a Delaware
corporation. Its principal executive offices are located at 1360
Post Oak Boulevard, Suite 2100, Houston, Texas 77056. Its
telephone number is
(713) 629-7600.
b. Securities. The subject class of securities is the
4.0% Convertible Subordinated Notes due 2007 of the
Company. As of the date of this Schedule TO, there was
outstanding $172,500,000 aggregate principal amount of the Notes.
c. Trading Market and Price. The Notes are not listed on
any national securities exchange or authorized to be quoted in
any inter-dealer quotation system of any national securities
association. Certain institutions and securities dealers do
provide quotations for and engage in transactions in the Notes.
However, there is no established trading market for the Notes.
The information set forth in the Offer to Purchase under the
caption Market Price Information is incorporated
herein by reference.
Item 3. | Identity and Background of Filing Person. |
The Company is the filing person. The business address and
telephone number of the Company are set forth under
Item 2(a) above.
The names of the executive officers and directors of the Company
who are persons specified in Instruction C to
Schedule TO are set forth below. The address for each such
person is: c/o Quanta Services, Inc., 1360 Post Oak
Blvd., Suite 2100, Houston, TX 77056 and the telephone
number for each such person is:
(713) 629-7600.
Name | Office | |
John R. Colson
|
Chief Executive Officer, Chairman of the Board of Directors | |
Gary A. Tucci
|
Director | |
Vincent D. Foster
|
Director | |
James R. Ball
|
Director | |
Bernard Fried
|
Director | |
Louis C. Golm
|
Director | |
Worthing F. Jackman
|
Director | |
Bruce Ranck
|
Director | |
John R. Wilson
|
Director, President Electric Power and Gas Division | |
James H. Haddox
|
Chief Financial Officer | |
Kenneth W. Trawick
|
President Telecommunications and Cable Television Division | |
Tana L. Pool
|
Vice President and General Counsel | |
Derrick A. Jensen
|
Vice President, Controller and Chief Accounting Officer | |
Nicholas M. Grindstaff
|
Treasurer | |
Benadetto G. Bosco
|
Senior Vice President Business Development and Outsourcing | |
James F. ONeil III
|
Senior Vice President Operations Integration and Audit | |
Darren B. Miller
|
Vice President Information Technology and Administration |
Item 4. | Terms of the Transaction. |
a. Material terms. The information set forth in the Offer
to Purchase, most specifically under the sections captioned
Terms of the Offer, Certain Significant
Considerations and Material United States Federal
Income Tax Consequences, is incorporated herein by
reference.
b. Purchases. Notes will not be purchased from any officer,
director or other affiliate of the Company.
Item 5. | Past Contacts, Transactions, Negotiations and Agreements. |
Agreements Involving the Subject Companys Securities. The
Company is a party to the following agreements, arrangements or
understandings that involve the subject securities:
(a) Subordinated Indenture, dated July 25, 2000, by and between Quanta Services, Inc. and Chase Bank of Texas, National Association, as Trustee (previously filed as Exhibit 4.1 to the Companys Form 8-K (No. 001-13831) filed July 26, 2000 and incorporated herein by reference); and | |
(b) First Supplemental Indenture, dated July 25, 2000, by and between Quanta Services, Inc. and Chase Bank of Texas, National Association, as Trustee (previously filed as Exhibit 4.2 to the Companys Form 8-K (No. 0001-13831) filed July 26, 2000 and incorporated herein by reference). |
Descriptions of the material provisions of the foregoing
agreements are incorporated herein by reference to
Description of Debt Securities on pages 9
through 20 of the Companys
Form S-3
(No. 333-39744)
filed June 20, 2000 and Description of Notes on
pages S-37 through S-45 of the Companys Prospectus
Supplement filed pursuant to Rule 424(b)(5)
(No. 333-39744) on
July 20, 2000.
The foregoing agreements, arrangements and understandings, as
well as descriptions of the material provisions of such, are
attached hereto as Exhibits (d)(1) through (d)(4) and
incorporated herein by reference.
Item 6. | Purposes of the Transaction and Plan or Proposals. |
a. Purposes. The information set forth in the Offer to
Purchase, most specifically under the sections captioned
Summary Term Sheet Why is Quanta Making the
Offer? and Purpose of the Offer, is
incorporated herein by reference.
b. Use of Securities Acquired. The Company will deliver all
Notes purchased by the Company in the Offer to the Trustee for
cancellation and those Notes will cease to be outstanding.
c. Plans. Except for the Offer and as set forth below, the
Company is not aware of any plans, proposals or negotiations
that relate to or would result in any of the events listed in
Regulation M-A Item 1006(c)(1) through (10).
Effective as of its Annual Meeting of Stockholders scheduled for
May 24, 2006, the Company intends to increase the number of
members of its board of directors from nine to eleven.
Item 7. | Source and Amount of Funds or Other Consideration. |
a. Source of Funds. The information set forth in the
Offer to Purchase, most specifically under the section captioned
Source and Amount of Funds, is incorporated herein
by reference.
b. Conditions. The information set forth in the
Offer to Purchase, most specifically under the section captioned
Terms of the Offer-Conditions to the Offer, is
incorporated herein by reference.
c. Borrowed Funds. The information set forth in the
Offer to Purchase, most specifically under the section captioned
Source and Amount of Funds, is incorporated herein
by reference.
Item 8. | Interest in Securities of the Subject Company. |
a. Securities ownership. None of the persons named
in Item 3 above (in response to Item 1003 of
Regulation M-A), nor any associates or majority-owned
subsidiaries of such persons, beneficially owns any of the
subject securities.
b. Securities transactions. There have been no
transactions in the subject securities during the past
60 days by any of the persons listed in Instruction 1
to Regulation M-A 1008(b).
Item 9. | Persons/ Assets, Retained, Employed, Compensated or Used. |
a. Solicitations or Recommendations. The information
set forth in the Offer to Purchase, most specifically under the
section captioned The Dealer Managers, Depositary and
Information Agent, is incorporated herein by reference.
Item 10. | Financial Statements. |
a. Financial Information. The Company does not
believe financial statements are material because: (a) the
consideration offered consists solely of cash; (b) the
Offer is not subject to any financing condition; (c) the
Company is a public reporting company under Section 13(a)
or 15(d) of the Exchange Act that files reports electronically
on EDGAR; and (d) the Offer is for all outstanding
securities of the subject class.
b. Pro Forma Information. Not applicable.
Item 11. | Additional Information. |
None.
Item 12. | Exhibits. |
Exhibit | ||
No. | Description | |
(a)(1)(i)
|
Offer to Purchase, dated May 16, 2006. | |
(a)(1)(ii)
|
Form of Letter of Transmittal. | |
(a)(1)(iii)
|
Form of Notice of Guaranteed Delivery. | |
(a)(1)(iv)
|
Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9. |
Exhibit | ||
No. | Description | |
(a)(2)
|
None. | |
(a)(3)
|
None. | |
(a)(4)
|
None. | |
(a)(5)
|
Press Release, dated May 16, 2006. | |
(b)(1)
|
Indenture, dated May 3, 2006, by and between Quanta Services, Inc. and Wells Fargo Bank, N.A., as Trustee (previously filed as Exhibit 99.2 to the Companys Form 8-K (No. 001-13831) filed May 4, 2006 and incorporated herein by reference). | |
(d)(1)
|
Subordinated Indenture, dated July 25, 2000, by and between Quanta Services, Inc. and Chase Bank of Texas, National Association, as Trustee (previously filed as Exhibit 4.1 to the Companys Form 8-K (No. 001-13831) filed July 26, 2000 and incorporated herein by reference). | |
(d)(2)
|
First Supplemental Indenture, dated July 25, 2000, by and between Quanta Services, Inc. and Chase Bank of Texas, National Association, as Trustee (previously filed as Exhibit 4.2 to the Companys Form 8-K (No. 0001-13831) filed July 26, 2000 and incorporated herein by reference). | |
(d)(3)
|
Description of Debt Securities (previously filed as pages 9 through 20 of the Companys Form S-3 (No. 333-39744) filed June 20, 2000 and incorporated herein by reference). | |
(d)(4)
|
Description of Notes (previously filed as pages S-37 through S-45 of the Companys Prospectus Supplement filed pursuant to Rule 424(b)(5) (No. 333-39744) filed July 20, 2000 and incorporated herein by reference). | |
(g)
|
None. | |
(h)
|
None. |
Item 13. | Information required by Schedule 13E-3. |
Not applicable.
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.
QUANTA SERVICES, INC. |
By: | /s/ James H. Haddox |
|
|
James H. Haddox | |
Chief Financial Officer |
Dated: May 16, 2006
Exhibit Index
Exhibit | ||
No. | Description | |
(a)(1)(i)
|
Offer to Purchase, dated May 16, 2006. | |
(a)(1)(ii)
|
Form of Letter of Transmittal. | |
(a)(1)(iii)
|
Form of Notice of Guaranteed Delivery. | |
(a)(1)(iv)
|
Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9. | |
(a)(2)
|
None. | |
(a)(3)
|
None. | |
(a)(4)
|
None. | |
(a)(5)
|
Press Release, dated May 16, 2006. | |
(b)(1)
|
Indenture, dated May 3, 2006, by and between Quanta Services, Inc. and Wells Fargo Bank, N.A., as Trustee (previously filed as Exhibit 99.2 to the Companys Form 8-K (No. 001-13831) filed May 4, 2006 and incorporated herein by reference). | |
(d)(1)
|
Subordinated Indenture, dated July 25, 2000, by and between Quanta Services, Inc. and Chase Bank of Texas, National Association, as Trustee (previously filed as Exhibit 4.1 to the Companys Form 8-K (No. 001-13831) filed July 26, 2000 and incorporated herein by reference). | |
(d)(2)
|
First Supplemental Indenture, dated July 25, 2000, by and between Quanta Services, Inc. and Chase Bank of Texas, National Association, as Trustee (previously filed as Exhibit 4.2 to the Companys Form 8-K (No. 0001-13831) filed July 26, 2000 and incorporated herein by reference). | |
(d)(3)
|
Description of Debt Securities (previously filed as pages 9 through 20 of the Companys Form S-3 (No. 333-39744) filed June 20, 2000 and incorporated herein by reference). | |
(d)(4)
|
Description of Notes (previously filed as pages S-37 through S-45 of the Companys Prospectus Supplement filed pursuant to Rule 424(b)(5) (No. 333-39744) filed July 20, 2000 and incorporated herein by reference). | |
(g)
|
None. | |
(h)
|
None. |