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Agreement and Plan of Merger
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Title:
Agreement and Plan of Merger
Entities:
Citibank, NA; Morgan Stanley Dean Witter; Parker-Hannifin Corp.; Jones, Day, Reavis & Pogue
Date:
2000
Size:
Preview shows 9KB of 202KB total
Price:
$66
ID:
#383319
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                         AGREEMENT AND PLAN OF MERGER



                          Dated as of June 13, 2000,



                                 BY AND AMONG



                         PARKER-HANNIFIN CORPORATION,



                                WI HOLDING INC.



                                      AND



                          WYNN'S INTERNATIONAL, INC.

{PAGE}



                               TABLE OF CONTENTS



{TABLE}

{CAPTION}

                                                                                               Page

                                                                                               ----

{S}                                                                                            {C}

ARTICLE I THE TENDER OFFER                                                                       2

  Section 1.1     The Offer..............................................................        2

  Section 1.2     Company Action.........................................................        3

  Section 1.3     Directors..............................................................        4



ARTICLE II THE MERGER                                                                            5

  Section 2.1     The Merger.............................................................        5

  Section 2.2     Effective Time.........................................................        5

  Section 2.3     Effect of the Merger; Closing..........................................        6

  Section 2.4     Subsequent Actions.....................................................        6

  Section 2.5     Certificate of Incorporation; Bylaws; Directors and Officers...........        6

  Section 2.6     Conversion of Securities...............................................        7

  Section 2.7     Dissenting Shares......................................................        7

  Section 2.8     Surrender of Shares; Stock Transfer Books..............................        8

  Section 2.9     Stock Plan Arrangements................................................        9



ARTICLE III REPRESENTATIONS AND WARRANTIES OF                                                   10

THE PURCHASER AND MERGER SUB                                                                    10

  Section 3.1     Corporate Organization.................................................       10

  Section 3.2     Authority Relative to this Agreement...................................       10

  Section 3.3     No Conflict; Required Filings and Consents.............................       11

  Section 3.4     Brokers................................................................       12

  Section 3.5     Offer Documents; Proxy Statement.......................................       12

  Section 3.6     Merger Sub.............................................................       12



ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY                                        13

  Section 4.1     Organization and Qualification; Subsidiaries...........................       13

  Section 4.2     Capitalization.........................................................       14

  Section 4.3     Authority Relative to this Agreement...................................       14

  Section 4.4     No Conflict; Required Filings and Consents.............................       15

  Section 4.5     SEC Filings; Financial Statements......................................       15

  Section 4.6     Absence of Certain Changes or Events...................................       16

  Section 4.7     Litigation.............................................................       18

  Section 4.8     Asbestos Related Litigation and Claims.................................       19

  Section 4.9     ERISA Compliance.......................................................       19

  Section 4.10    Offer Documents; Proxy Statement.......................................       23

  Section 4.11    Brokers................................................................       23

  Section 4.12    State Takeover Statutes................................................       23

  Section 4.13    Conduct of Business....................................................       24

  Section 4.14    Taxes..................................................................       24

  Section 4.15    Real Property..........................................................       26

  Section 4.16    Intellectual Property..................................................       27

  Section 4.17    Contracts..............................................................       27

{/TABLE}

{PAGE}



{TABLE}

  {S}                                                                                           {C}

  Section 4.18    Environmental Matters..................................................       29

  Section 4.19    Required Vote by Company Stockholders..................................       30

  Section 4.20    Opinions of Financial Advisor..........................................       30

  Section 4.21    Affiliate Transactions.................................................       30

  Section 4.22    Insurance..............................................................       31

  Section 4.23    Company Rights Agreement...............................................       31



ARTICLE V CONDUCT OF BUSINESS PENDING THE MERGER                                                31

  Section 5.1     Conduct of Business Pending the Merger.................................       31

  Section 5.2     No Solicitation........................................................       34

  Section 5.3     Company Rights Agreement...............................................       36



ARTICLE VI ADDITIONAL AGREEMENTS                                                                36

  Section 6.1     Proxy Statement........................................................       36

  Section 6.2     Meeting of Stockholders of the Company.................................       37

  Section 6.3     Additional Agreements..................................................       37

  Section 6.4     Notification of Certain Matters........................................       37

  Section 6.5     Access to Information..................................................       37

  Section 6.6     Public Announcements...................................................       38

  Section 6.7     Commercially Reasonable Efforts; Cooperation...........................       38

  Section 6.8     Agreement to Defend and Indemnify......................................       39

  Section 6.9     Employee Benefits......................................................       39

  Section 6.10    Transfer Taxes.........................................................       40



ARTICLE VII CONDITIONS TO THE MERGER                                                            40

  Section 7.1     Conditions to Obligations of Each Party to Effect the Merger...........       40

  Section 7.2     Conditions to Obligations of the Purchaser and Merger Sub to Effect the

                  Merger.................................................................       41



ARTICLE VIII TERMINATION, AMENDMENT AND WAIVER                                                  41

  Section 8.1     Termination............................................................       41

  Section 8.2     Effect of Termination and Abandonment, Termination Fee.................       42



ARTICLE IX GENERAL PROVISIONS                                                                   44

  Section 9.1     Non-Survival of Representations, Warranties and Agreements.............       44

  Section 9.2     Notices................................................................       45

  Section 9.3     Expenses...............................................................       46

  Section 9.4     Certain Definitions....................................................       46

  Section 9.5     Headings...............................................................       46

  Section 9.6     Severability...........................................................       46

  Section 9.7     Entire Agreement; No Third-Party Beneficiaries.........................       46
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