This Amendment No. 2 (this
Amendment
) to
Schedule 14D-9 amends
and supplements the Solicitation/Recommendation Statement
on Schedule 14D-9 (as
amended or supplemented from time to time, the
Schedule
14D-9
), initially filed by Tower International, Inc., a Delaware corporation (
Tower
), with the U.S. Securities and Exchange Commission on
August 15, 2019, relating to the tender offer by Tiger Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Autokiniton US Holdings, Inc., a Delaware corporation, to purchase all of the outstanding shares of Towers
Common Stock (the
Shares
) at a purchase price of $31.00 per Share, net to the seller in cash, without interest and subject to any required tax withholding, upon the terms and subject to the conditions set forth in the Offer to
Purchase, dated August 15, 2019 (as it may be amended or supplemented from time to time, the
Offer to Purchase
), and the related Letter of Transmittal (as it may be amended or supplemented from time to time, the
Letter of Transmittal
and, together with the Offer to Purchase, the
Offer
).
Except as otherwise set
forth below, the information set forth in the
Schedule 14D-9 remains
unchanged and is incorporated by reference as relevant to the items in this Amendment. Capitalized terms used and not defined
herein have the meanings assigned to such terms in the
Schedule 14D-9. This
Amendment is being filed to reflect certain updates as set forth below.
Item 4.
|
The Solicitation or Recommendation
.
|
Item 4 of the Schedule
14D-9
is hereby amended and supplemented as follows:
The following sentences are hereby added immediately after the last sentence of the second paragraph under the heading
Certain
Unaudited Prospective Financial Information
of the
Schedule 14D-9:
Revenue projections
include business already booked by the Company, replacement business which is business that is currently running and that the Company expects to be awarded on the next generation OEM platform, and new business that Company is targeting to win. For
the Initial Company Projections, the booked and replacement business represents the following percentages of total projected revenues: 100%, 100%, 96%, and 90% for the 2019, 2020, 2021 and 2022 periods, respectively. For the Updated Company
Projections, the booked and replacement business represents the following percentages of total projected revenues: 100%, 100%, 98%, 96%, and 95% for the 2019, 2020, 2021, 2022 and 2023 periods, respectively.