SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------------
Schedule TO
(Amendment No. 2)
Tender Offer Statement under Section 14(d)(1) or 13(e)(1)
Of the Securities Exchange Act of 1934
and
Schedule 13D
(Amendment No. 1)
Under the Securities Exchange Act of 1934
----------------------------
The DeWolfe Companies, Inc.
(Name of Subject Company (Issuer))
----------------------------
Timber Acquisition Corporation
NRT Incorporated
Cendant Corporation
(Name of Filing Persons (Offerors))
----------------------------
Common Stock, par value $0.01 per share
(Titles of Classes of Securities)
----------------------------
252115100
(CUSIP Number of Class of Securities)
----------------------------
Eric J. Bock, Esq.
Executive Vice President, Law and Corporate Secretary
Cendant Corporation
9 West 57th Street
New York, New York 10019
(212) 413-1800
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications on Behalf of the Filing Persons)
----------------------------
Copies to:
Thomas W. Greenberg, Esq. Kenneth D. Hoffert, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP Senior Vice President and General Counsel
Four Times Square NRT Incorporated
New York, New York 10036 339 Jefferson Road
(212) 735-3000 Parsippany, New Jersey 07054
(973) 240-5000
CALCULATION OF FILING FEE
======================================|========================================
Transaction Valuation* | Amount of Filing Fee**
--------------------------------------|----------------------------------------
$149,497,774 | $13,754
======================================|========================================
* Estimated for purposes of calculating the filing fee only. This
calculation assumes the purchase of 5,730,225 shares of common stock
of The DeWolfe Companies, Inc. (based on the number of shares
outstanding as of July 31, 2002) at the tender offer price of $19.00
per share of common stock. The transaction value also includes the
offer price of $19.00 less $6.068, which is the weighted average
exercise price of outstanding options, multiplied by 3,141,316, the
estimated number of options outstanding.
** The amount of the filing fee, calculated in accordance with Rule 0-11
of the Securities Exchange Act of 1934, as amended, equals
92/1,000,000 of 1% of the transaction valuation.
|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 date of filing.
Amount Previously Paid: $13,754 Filing Parties: Timber Acquisition Corporation, NRT
Incorporated and Cendant Corporation
Form or Registration No.: Schedule TO Date Filed: August 14, 2002
|_| 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.
|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: |x|
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Cendant Corporation
-------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
-------------------------------------------------------------------------------
3. SEC USE ONLY
-------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC; OO
-------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
None
NUMBER OF -----------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 5,658,279
EACH -----------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH None
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
5,658,279
-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,658,279
-------------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
-------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
98.6%
-------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NRT Incorporated
-------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
-------------------------------------------------------------------------------
3. SEC USE ONLY
-------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF
-------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
-------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
7. SOLE VOTING POWER
None
NUMBER OF -----------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 5,658,279
EACH -----------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH None
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
5,658,279
-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,658,279
-------------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
-------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
98.6%
-------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Timber Acquisition Corporation
-------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
-------------------------------------------------------------------------------
3. SEC USE ONLY
-------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF
-------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
-------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
-------------------------------------------------------------------------------
7. SOLE VOTING POWER
None
NUMBER OF -----------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 5,658,279
EACH -----------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH None
-----------------------------------------------
10. SHARED DISPOSITIVE POWER
5,658,279
-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,658,279
-------------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
-------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
98.6%
-------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
-------------------------------------------------------------------------------
This Amendment No. 2 ("Amendment") amends and supplements the
Tender Offer Statement on Schedule TO (the "Schedule TO"), filed initially
with the Securities and Exchange Commission (the "SEC") on August 14, 2002,
relating to the tender offer by Timber Acquisition Corporation, a
Massachusetts corporation ("Purchaser") and wholly owned subsidiary of NRT
Incorporated ("Parent") and an indirect subsidiary of Cendant Corporation
("Cendant"), to purchase the outstanding shares (the "Shares") of common
stock, par value $0.01 per share (the "Common Stock"), of The DeWolfe
Companies, Inc., a Massachusetts corporation (the "Company"), at a purchase
price of $19.00 per share, net to the seller in cash, without interest
thereon. This Amendment also constitutes Amendment No. 1 to the Statement
on Schedule 13D initially filed with the SEC on August 22, 2002, with
respect to the acquisition by Purchaser of beneficial ownership of the
Shares. Capitalized terms used and not otherwise defined herein shall have
the meanings assigned to such terms in the Schedule TO or in the Offer to
Purchase attached as Exhibit (a)(1)(A) thereto.
Item 8. Interest in Securities of the Subject Company.
Item 8 of the Schedule TO is hereby amended and supplemented to
add to the end thereof the following:
"The Offer expired at 12:00 midnight, New York City time, on
Wednesday, September 11, 2002. Based on information provided by the
Depositary to Cendant, Parent and Purchaser, as of the expiration of the
Offer, a total of 5,658,279 Shares, representing approximately 98.6% of
Company's issued and outstanding Shares (based on information provided by
the Company's transfer agent that there were 5,739,144.9 Shares outstanding
on such date), were validly tendered and not withdrawn, including 32,660
Shares tendered pursuant to notices of guaranteed delivery. On September
12, 2002, Purchaser accepted for purchase and payment all Shares validly
tendered and not withdrawn pursuant to the Offer and issued a press release
to that effect. A copy of such press release is attached hereto as Exhibit
(a)(i)(N) and is incorporated herein by reference.
As soon as practicable following the payment for the Shares
tendered in the Offer, Parent intends to cause the Company to be merged
with and into Purchaser as a Short-Form Merger without a vote of
stockholders of the Company. In connection with such Merger, all
outstanding Shares not validly tendered in the Offer (other than Shares
held by the Company, Parent or any of their subsidiaries and other than
Shares which are entitled to and properly exercise appraisal rights) will
be converted into the right to receive $19.00 per share in cash, without
interest."
Item 12. Exhibits
Item 12 of the Schedule TO is hereby amended and supplemented to
add to the end thereof the following exhibit:
"(a)(1)(N): Press Release, dated September 12, 2002, issued by Parent."
SIGNATURES
After due inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: September 12, 2002
TIMBER ACQUISITION CORPORATION
By: /s/ Thomas J. Freeman
-------------------------------
Name: Thomas J. Freeman
Title: Senior Vice President and
Assistant Treasurer
NRT INCORPORATED
By: /s/ Thomas J. Freeman
-------------------------------
Name: Thomas J. Freeman
Title: Senior Vice President
CENDANT CORPORATION
By: /s/ Eric J. Bock
-------------------------------
Name: Eric J. Bock
Title: Executive Vice President, Law
and Corporate Secretary