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-----BEGIN PRIVACY-ENHANCED MESSAGE-----Proc-Type: 2001,MIC-CLEAROriginator-Name: webmaster@www.sec.govOriginator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQABMIC-Info: RSA-MD5,RSA, DYZLGlSozuQhQeoqDCoLE8HWH+NkHCn9ELZ9EivNW1Whe1QPJ57GfZlLauUTbdRr mPpzEss+TV32w33JSJT0vw==
0001047469-04-028414.txt : 200409100001047469-04-028414.hdr.sgml : 2004091020040910060919ACCESSION NUMBER:0001047469-04-028414CONFORMED SUBMISSION TYPE:425PUBLIC DOCUMENT COUNT:19FILED AS OF DATE:20040910DATE AS OF CHANGE:20040910
SUBJECT COMPANY:
COMPANY DATA:COMPANY CONFORMED NAME:ADVANCED FIBRE COMMUNICATIONS INCCENTRAL INDEX KEY:0000898805STANDARD INDUSTRIAL CLASSIFICATION:TELEPHONE & TELEGRAPH APPARATUS [3661]IRS NUMBER:680277743STATE OF INCORPORATION:DEFISCAL YEAR END:1231
FILING VALUES:FORM TYPE:425SEC ACT:1934 ActSEC FILE NUMBER:000-28734FILM NUMBER:041023985
BUSINESS ADDRESS:STREET 1:1465 N. MCDOWELL BLVD.CITY:PETALUMASTATE:CAZIP:94954BUSINESS PHONE:7077947700
MAIL ADDRESS:STREET 1:1465 N. MCDOWELL BLVD.CITY:PETALUMASTATE:CAZIP:94954
FILED BY:
COMPANY DATA:COMPANY CONFORMED NAME:TELLABS INCCENTRAL INDEX KEY:0000317771STANDARD INDUSTRIAL CLASSIFICATION:TELEPHONE & TELEGRAPH APPARATUS [3661]IRS NUMBER:363831568STATE OF INCORPORATION:DEFISCAL YEAR END:1231
FILING VALUES:FORM TYPE:425
BUSINESS ADDRESS:STREET 1:ONE TELLABS CENTERSTREET 2:1415 WEST DIEHL ROADCITY:NAPERVILLESTATE:ILZIP:60563BUSINESS PHONE:630-378-8800
MAIL ADDRESS:STREET 1:ONE TELLABS CENTERSTREET 2:1415 WEST DIEHL ROADCITY:NAPERVILLESTATE:ILZIP:60563
4251a2143255z425.htm425
Filed by Tellabs, Inc.
pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12 of the
Securities Exchange Act of 1934
Subject Company: Advanced Fibre Communications, Inc.
SEC File No.: 333-116794
THE FOLLOWING IS A PRESENTATION GIVEN BY TELLABS,INC. AT THE SMITH BARNEY CITIGROUP TECHNOLOGY CONFERENCE ON SEPTEMBER8,2004.
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SmithBarney Citigroup Technology Conference
September 8, 2004
[GRAPHIC]
Krish Prabhu
President and CEO
[LOGO]
[LOGO]
This Presentation MayContain Forward-looking Statements.
Such statements should beviewed in the context of the risk factors articulated in Tellabs most recentSEC filings. This presentation may include GAAP and non-GAAP financialmeasures. A complete reconciliation of such measures can be found at ourtellabs.com Web site.
[PHOTO]
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This communication is not a solicitation of a proxy fromany security holder of Tellabs, Inc. or Advanced Fibre Communications,Inc. Tellabs, Inc. has filed with theSecurities and Exchange Commission a Registration Statement on Form S-4 (FileNo. 333-116794) which contains a Preliminary Joint ProxyStatement/Prospectus. Tellabs, Inc. andAdvanced Fibre Communications, Inc. expect to mail a Definitive Joint ProxyStatement/Prospectus to their respective stockholders concerning the proposedmerger of Advanced Fibre Communications, Inc. with a subsidiary of Tellabs,Inc. WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE DEFINITIVE JOINT PROXYSTATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC,BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be ableto obtain the documents free of charge at the SECs website, www.sec.gov. Inaddition, documents filed with the SEC by Tellabs, Inc. will be available freeof charge from Tellabs Investor Relations, 1415 West Diehl Road, Naperville, IL60563, 630-798-8800. Documents filedwith the SEC by Advanced Fibre Communications, Inc. will be available free ofcharge from Advanced Fibre Communications Investor Relations, 1465 NorthMcDowell Blvd., Petaluma, CA, USA 94954, 707-792-3500.
Interest ofCertain Persons in the Merger.
Tellabs, Inc.and Advanced Fibre Communications, Inc., and their respective directors andexecutive officers and other members of their management and employees, may bedeemed to be participants in the solicitation of proxies from the stockholdersof Tellabs, Inc. and Advanced Fibre Communications, Inc. in connection with themerger. The directors and executiveofficers of Tellabs, Inc. and Advanced Fibre Communications, Inc. haveinterests in the merger, some of which may differ from, or may be in additionto, those of the respective stockholders of Tellabs, Inc. and Advanced FibreCommunications, Inc. generally. Those interestswill be described in greater detail in the Definitive Joint ProxyStatement/Prospectus with respect to the merger, which may include potentialmembership on the Tellabs, Inc. Board of Directors, option and stock holdingsand indemnification. Information aboutthe directors and executive officers of Tellabs, Inc. and their ownership ofTellabs, Inc. stock is set forth in the proxy statement for Tellabs, Inc.s2004 annual meeting of stockholders.Information about the directors and executive officers of Advanced FibreCommunications, Inc. and their ownership of Advanced Fibre Communications, Inc.stock is set forth in the proxy statement for Advanced Fibre Communications,Inc.s 2004 annual meeting of stockholders. Investors may obtain additional informationregarding the interests of the participants by reading the joint proxystatement/prospectus.
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Three Strategies for Growth
Energize The Core
Establish A Presence In Data
Expand Into Adjacent Markets
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Energize The Core
[GRAPHIC]
Energize The Core
Establish A Presence In Data
Expand Into Adjacent Markets
Deployed Base:
Ethernetcapability on Tellabs 5500
IntegratedVQE on Tellabs 5500
Integratedmanagement for Tellabs 8100/6300
Ethernet-over-SDHfor Tellabs 6300
New Transport Platforms:
IntegratedSONET and DWDM on Tellabs 7100
IntegratedTDM and Ethernet on Tellabs 5500 NGX
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Establish A Presence In Data
[GRAPHIC]
Energize The Core
Establish A Presence In Data
Expand Into Adjacent Markets
Introduce a Family of NewData Products:
Tellabs 8800multi-service router series for IP/MPLS services convergence
Tellabs 8600Ethernet service delivery platform
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Expand Into Adjacent Markets
[GRAPHIC]
Energize The Core
Establish A Presence In Data
Expand Into Adjacent Markets
Establish a Position inAccess
Announceda merger with AFC
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AFC Brings
Leadershipin access market
Firstmover in developing fiber technologies
Growingrelationships with major incumbent North American carriers
Establishedrelationships with more than 800 Independent Operating Companies
Growthplus a strong balance sheet
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Tellabs Brings
Leadershipin transport market
Strongrelationships with major incumbent North American carriers
Scale,scope and experience needed to satisfy RBOC customers
Award-winningcustomer service capabilities
Significantinternational channel
Profitabilityplus a strong balance sheet
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A Preeminent Combination of Growth andProfitability
[GRAPHIC]
Compelling Tier 1 Equipment Vendor
Broad End-to-End Solution
Well Positioned for the Network Upgrade Cycle
Accelerating Revenue Growth
Continuing Focus on Profitability
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Strategic Rationale
Compelling Tier 1 Equipment Vendor
Combinesleading suppliers for access and transport
Strengthensrelationships with major incumbent carriers
Strongbalance sheet, cutting-edge technology
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CompellingTier 1 Equipment Vendor
Combinesleading suppliers for access and transport
Strengthensrelationships with major incumbent carriers
Strongbalance sheet, cutting-edge technology
Broad End-to-End Solution
Best-of-breedaccess, transport and data solutions for network infrastructure
Complementaryproduct portfolios, with ability to manage via umbrella network management
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Compelling Tier 1 EquipmentVendor
Combinesleading suppliers for access and transport
Strengthensrelationships with major incumbent carriers
Strongbalance sheet, cutting-edge technology
Broad End-to-End Solution
Best-of-breedaccess, transport and data solutions for network infrastructure
Complementaryproduct portfolios, with ability to manage via umbrella network management
Well Positioned for the Network Upgrade Cycle
Canleverage incumbent position to drive network upgrades VoIP, FTTP, Ethernet,MPLS
Goalof a converged MPLS framework
Strongposition in FTTP
RedirectR&D investment to best opportunities
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Accelerating Revenue Growth
Combinestwo profitable businesses
Complementarydomestic and international sales channels
Tellabsbrings established professional services capabilities
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Accelerating Revenue Growth
Combinestwo profitable businesses
Complementarydomestic and international sales channels
Tellabsbrings established professional services capabilities
Continuing Focus on Profitability
Leveragesupply-chain efficiencies
Operatingleverage in continued businesses
Eliminateduplicative public company costs and other SG&A savings
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Amended Terms
$1.5Bdeal equals $16.60/share when announced
0.504TLAB shares and $12 for each AFC share
Accretiveto full-year 2005 results on pretax, per-share basis including synergies andexcluding amortization of acquired intangibles and purchase accountingadjustments
Subjectto SEC approval of Proxy/Prospectus and approval by AFC shareholders
Merger proceeds on terms that reflect current financialoutlook
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Approval of TLAB shareholdersnot required
Approximately45M TLAB shares to be issued, 462M to be outstanding
AFCshareholders will own 10% of the company
JohnSchofield to be Vice Chairman of Tellabs BOD
Expectedto close before end of 2004
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Q&A
[PHOTO]
Krish Prabhu
[LOGO]
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