UNITED STATES

 

 

SECURITIES AND EXCHANGE
COMMISSION

 

 

Washington, D.C. 20549

 

 

 

 

 

SCHEDULE 13D

 


Under the Securities Exchange Act of 1934
(Amendment No. 2)*

SPX Corporation

(Name of Issuer)

 

Common Stock, $10.00 par value

(Title of Class of Securities)

 

784635104

(CUSIP Number)

 

Ralph V. Whitworth
Relational Investors, LLC
12400 High Bluff Drive, Suite 600
San Diego, CA 92130
(858) 704-3333

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

May 2, 2013

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Relational Investors, LLC

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
6,387,833

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
6,387,833

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
6,387,833

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
13.65%

 

 

14.

Type of Reporting Person (See Instructions)
IA/HC/OO

 

2



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Relational Investors Mid-Cap Fund I, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
1,559,901

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
1,559,901

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
1,559,901

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
3.33%

 

 

14.

Type of Reporting Person (See Instructions)
PN

 

3



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Relational Investors Mid-Cap Fund II, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 x

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
1,167,317

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
1,167,317

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
1,167,317

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
2.49%

 

 

14.

Type of Reporting Person (See Instructions)
PN

 

4



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Relational Fund Partners, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC/OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
18,196

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
18,196

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
18,196

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
0.04%

 

 

14.

Type of Reporting Person (See Instructions)
PN

 

5



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Relational Coast Partners, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC/OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
301,715

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
301,715

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
301,715

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
0.64%

 

 

14.

Type of Reporting Person (See Instructions)
PN

 

6



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Relational Investors IX, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 x

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
336,316

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
336,316

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
336,316

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
0.72%

 

 

14.

Type of Reporting Person (See Instructions)
PN

 

7



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Relational Investors XV, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 x

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
191,812

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
191,812

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
191,812

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
0.41%

 

 

14.

Type of Reporting Person (See Instructions)
PN

 

8



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Relational Investors XVI, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 x

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
93,629

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
93,629

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
93,629

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
0.20%

 

 

14.

Type of Reporting Person (See Instructions)
PN

 

9



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Relational Investors XX, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 x

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC/OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
173,499

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
173,499

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
173,499

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
0.37%

 

 

14.

Type of Reporting Person (See Instructions)
PN

 

10



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Relational Investors XXIII, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 x

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC/OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
246,939

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
246,939

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
246,939

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
0.53%

 

 

14.

Type of Reporting Person (See Instructions)
PN

 

11



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
RH Fund 1, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 x

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC/OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
124,410

 

8.

Shared Voting Power
-0-

 

9.

Sole Dispositive Power
124,410

 

10.

Shared Dispositive Power
-0-

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
124,410

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
0.27%

 

 

14.

Type of Reporting Person (See Instructions)
PN

 

12



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Ralph V. Whitworth

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 x

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
NA

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
United States

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
-0-

 

8.

Shared Voting Power
6,387,833

 

9.

Sole Dispositive Power
-0-

 

10.

Shared Dispositive Power
6,387,833

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
6,387,833

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
13.65%

 

 

14.

Type of Reporting Person (See Instructions)
IN

 

13



 

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
David H. Batchelder

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 x

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
NA

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
United States

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
-0-

 

8.

Shared Voting Power
6,387,833

 

9.

Sole Dispositive Power
-0-

 

10.

Shared Dispositive Power
6,387,833

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
6,387,833

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
13.65%

 

 

14.

Type of Reporting Person (See Instructions)
IN

 

14



 

Item 1.   Security and Issuer

 

This Schedule 13D/A constitutes the second amendment to the Schedule 13D originally filed by the Reporting Persons with the Securities and Exchange Commission (the “SEC”) on February 25, 2013 and amended by Amendment No. 1 filed by the Reporting Persons with the SEC on March 25, 2013 (the “Statement”) with respect to the common stock, $10.00 par value (the “Shares”), of SPX Corporation (the “Issuer” or the “Company”). Except as specifically amended by this Schedule 13D/A, the Statement remains in full force and effect.

Item 2.   Identity and Background

This Statement is being filed by and on behalf of Relational Investors Mid-Cap Fund I, L.P. (“MC I”), Relational Investors Mid-Cap Fund II, L.P. (“MC II”), Relational Fund Partners, L.P. (“RFP”), Relational Coast Partners, L.P. (“RCP”), Relational Investors IX, L.P. (“RI IX”), Relational Investors XV, L.P. (“RI XV”), Relational Investors XVI, L.P. (“RI XVI”), Relational Investors XX, L.P. (“RI XX”), Relational Investors XXIII, L.P. (“RI XXIII”) and RH Fund 1, L.P. (“RHF 1”), collectively, the “Relational LPs.”  Each of the Relational LPs is a Delaware limited partnership.  The principal business of each, is investing in securities.

This Statement is also being filed by Relational Investors, LLC (“RILLC”), a Delaware limited liability company.  The principal business of RILLC is being the sole general partner or sole managing member of the general partner of certain investment partnerships, including the Relational LPs and the investment adviser of certain client managed accounts, the “Managed Accounts”.  The Relational LPs and the Managed Accounts are the beneficial owners of the securities covered by this Statement.  Pursuant to the Limited Partnership Agreement of each of the Relational LPs, and the investment management agreement of the Managed Accounts, RILLC has sole investment discretion and voting authority with respect to the securities covered by this Statement.

This Statement is also being filed by Ralph V. Whitworth and David H. Batchelder.  Messrs. Whitworth and Batchelder are the Principals of RILLC, in which capacity they share voting control and dispositive power over certain securities covered by this Statement.  As such, Messrs. Whitworth and Batchelder may be deemed to have indirect beneficial ownership of such securities, but, each of Mr. Whitworth and Mr. Batchelder disclaim beneficial ownership of the Shares except to the extent of his pecuniary interest therein.  The present principal occupation of each of Messrs. Whitworth and Batchelder is serving as Principals of RILLC (Messrs. Whitworth and Batchelder, together with Relational LPs and RILLC, hereinafter, the “Reporting Persons”).

During the last five years, none of the Reporting Persons has been (i) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, and as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

The business address of each of the Reporting Persons is 12400 High Bluff Drive, Suite 600, San Diego, CA 92130.

Messrs. Whitworth and Batchelder are each citizens of the United States.

Item 3.   Source and Amount of Funds or Other Consideration

RILLC and the Managed Accounts purchased an aggregate of 2,174,099 Shares for a total consideration (including brokerage commissions) of $164.7 million derived from capital of RILLC and the Managed Accounts.

The Relational LPs purchased an aggregate of 4,213,734 Shares for total consideration (including brokerage commissions) of $310.6 million derived from the capital of the Relational LPs and margin borrowings from Credit Suisse Securities (USA) LLC (“CSSU”) for RFP, RCP, RI XX, RI XXIII and RHF 1.

Interest on the margin debt balance of the margin accounts described above is charged at the then Federal Funds Rate plus 50 basis points.  CSSU has a lien on the Shares held by RFP, RCP, RI XX, RI XXIII and RHF 1 to secure repayment of the margin borrowings described above.

 

15



 

Item 5.   Interest in Securities of the Issuer

(a)           As of the date of this Statement, the Reporting Persons beneficially owned in the aggregate 6,387,833 Shares, constituting 13.65% of the outstanding Shares.  The percentage of Shares owned is based upon 46,793,441 Shares outstanding on April 26, 2013, as set forth in the Issuer’s Form 10-Q for the quarter ended March 31, 2013.  The Reporting Persons may be deemed to have direct beneficial ownership of the Shares as follows:

NAME

 

NUMBER OF SHARES

 

% OF OUTSTANDING SHARES

 

VOTING AND DISPOSITIVE POWER

 

RILLC

 

2,174,099

 

4.65

%

Sole

 

MC I

 

1,559,901

 

3.33

%

Sole

 

MC II

 

1,167,317

 

2.49

%

Sole

 

RFP

 

18,196

 

0.04

%

Sole

 

RCP

 

301,715

 

0.64

%

Sole

 

RI IX

 

336,316

 

0.72

%

Sole

 

RI XV

 

191,812

 

0.41

%

Sole

 

RI XVI

 

93,629

 

0.20

%

Sole

 

RI XX

 

173,499

 

0.37

%

Sole

 

RI XXIII

 

246,939

 

0.53

%

Sole

 

RHF 1

 

124,410

 

0.27

%

Sole

 

16



RILLC, individually and in its capacity as an investment adviser, may be deemed to possess direct beneficial ownership of the 2,174,099 Shares that are owned by it and the Managed Accounts.  Additionally, RILLC, as the sole general partner, or sole managing member of the general partner, of each of the Relational LPs may be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended) the 4,213,734 Shares beneficially owned by the Relational LPs because the limited partnership agreements of the Relational LPs specify that RILLC has sole investment discretion and voting authority with respect to those Shares.

Each of Messrs. Whitworth and Batchelder, as Principals of RILLC, may be deemed to share indirect beneficial ownership of the Shares which RILLC may beneficially own.  Each of Messrs. Whitworth and Batchelder disclaims beneficial ownership of such Shares for all other purposes.

To the best of the knowledge of each of the Reporting Persons, other than as set forth above, none of the persons named in Item 2 is the beneficial owner of any Shares.

(b)           See item (a) above.

(c)           Except as set forth in Exhibit A to this Statement, none of the Reporting Persons has effected any transactions in the Shares during the past sixty days not previously reported.

(d)           No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares covered by this Statement, except that dividends from, and proceeds from the sale of, the Shares held by accounts managed by RILLC may be delivered to such accounts.

(e)           Not applicable.

 

Item 6.  Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

 

Except for the joint filing agreement between and among the Reporting Persons attached hereto as Exhibit B, and except for the investment discretion and voting authority described in Item 2 of this Statement and in the respective partnership agreements and investment management agreements of the Relational LPs and Managed Accounts which each contain provisions whereby RILLC may, after certain adjustments, receive a percentage of realized or unrealized profits, if any, derived from that partnership’s or managed account’s investments, to the best of the knowledge of the Reporting Persons, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Reporting Persons or between the Reporting Persons and any other person with respect to any securities of the Issuer, including but not limited to transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

 

Item 7.  Material to Be Filed as Exhibits

 

The following Exhibits are filed herewith:

 

Exhibit A – Information concerning transactions in the Shares effected by the Reporting Persons in the last 60 days not previously reported.

 

Exhibit B – Joint Filing Agreement.

 

17



 

Signature

After reasonable 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.

Dated:  May 6, 2013

RELATIONAL INVESTORS MID-CAP FUND I, L.P.
RELATIONAL INVESTORS MID-CAP FUND II, L.P.
RELATIONAL FUND PARTNERS, L.P.
RELATIONAL COAST PARTNERS, L.P.
RELATIONAL INVESTORS IX, L.P.
RELATIONAL INVESTORS XV, L.P.
RELATIONAL INVESTORS XVI, L.P.
RELATIONAL INVESTORS XX, L.P.
RELATIONAL INVESTORS XXIII, L.P.
RH Fund 1, L.P.

By:

RELATIONAL INVESTORS, LLC

 

 

as general partner to each,

 

 

By:

/s/ Ralph V. Whitworth

 

 

 

Ralph V. Whitworth, Principal

 

 

 

RELATIONAL INVESTORS, LLC

 

 

 

 

 

 

By:

/s/ Ralph V. Whitworth

 

 

 

Ralph V. Whitworth, Principal

 

 

 

 

 

 

/s/ Ralph V. Whitworth

 

 

 

Ralph V. Whitworth

 

 

 

 

 

 

 

 

 

 

 

/s/ David H. Batchelder

 

 

 

David H. Batchelder

 

 

 

 

18


Exhibit A

 

Transactions by Reporting Persons in the last 60 days not previously reported

 

Beneficial Ownership

 

Purchase or
Sale

 

Quantity

 

Transaction
Date

 

Price per Share
(including
commission)

 

How Effected

 

Relational Investors LLC

 

Sale

 

1,970

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors LLC

 

Sale

 

960

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Investors LLC

 

Sale

 

1,010

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Sale

 

9,525

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Sale

 

4,393

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Sale

 

6,787

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Sale

 

7,131

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Sale

 

4,213

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Sale

 

6,315

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Sale

 

5,134

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Sale

 

1,110

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Sale

 

4,285

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors LLC

 

Sale

 

4,565

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors LLC

 

Sale

 

2,227

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Investors LLC

 

Sale

 

2,339

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Coast Partners, L.P.

 

Sale

 

2,554

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Coast Partners, L.P.

 

Sale

 

1,246

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Coast Partners, L.P.

 

Sale

 

1,308

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Fund Partners, L.P.

 

Sale

 

142

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Fund Partners, L.P.

 

Sale

 

67

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Fund Partners, L.P.

 

Sale

 

72

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors XV, L.P.

 

Sale

 

1,397

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors XV, L.P.

 

Sale

 

681

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Investors XV, L.P.

 

Sale

 

716

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors XVI, L.P.

 

Sale

 

608

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors XVI, L.P.

 

Sale

 

296

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Investors XVI, L.P.

 

Sale

 

312

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors XX, L.P.

 

Sale

 

1,182

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors XX, L.P.

 

Sale

 

576

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Investors XX, L.P.

 

Sale

 

606

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors XXIII, L.P.

 

Sale

 

1,676

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors XXIII, L.P.

 

Sale

 

817

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Investors XXIII, L.P.

 

Sale

 

859

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors IX, L.P.

 

Sale

 

1,934

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors IX, L.P.

 

Sale

 

829

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors IX, L.P.

 

Sale

 

1,348

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Investors IX, L.P.

 

Sale

 

1,416

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors LLC

 

Sale

 

8,697

 

4/29/2013

 

$

 74.58

 

Open Market

 

Relational Investors LLC

 

Sale

 

4,240

 

4/29/2013

 

$

 74.62

 

Open Market

 

Relational Investors LLC

 

Sale

 

4,457

 

4/29/2013

 

$

 74.43

 

Open Market

 

Relational Investors LLC

 

Purchase

 

2,215

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Investors LLC

 

Purchase

 

3,010

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Purchase

 

7,477

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Purchase

 

10,163

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Purchase

 

5,332

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Purchase

 

7,247

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Investors LLC

 

Purchase

 

11,235

 

5/1/2013

 

$

 68.14

 

Open Market

 

 



 

Relational Investors LLC

 

Purchase

 

15,265

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Coast Partners, L.P.

 

Purchase

 

1,767

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Coast Partners, L.P.

 

Purchase

 

2,402

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Fund Partners, L.P.

 

Purchase

 

137

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Fund Partners, L.P.

 

Purchase

 

187

 

5/1/2013

 

$

 68.15

 

Open Market

 

RH Fund 1, L.P.

 

Purchase

 

3,174

 

5/1/2013

 

$

 68.14

 

Open Market

 

RH Fund 1, L.P.

 

Purchase

 

4,315

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Investors XV, L.P.

 

Purchase

 

1,649

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Investors XV, L.P.

 

Purchase

 

2,241

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Investors XVI, L.P.

 

Purchase

 

976

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Investors XVI, L.P.

 

Purchase

 

1,327

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Investors XX, L.P.

 

Purchase

 

1,682

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Investors XX, L.P.

 

Purchase

 

2,286

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Investors XXIII, L.P.

 

Purchase

 

2,408

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Investors XXIII, L.P.

 

Purchase

 

3,273

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

2,164

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

2,941

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Investors LLC

 

Purchase

 

6,652

 

5/1/2013

 

$

 68.14

 

Open Market

 

Relational Investors LLC

 

Purchase

 

9,042

 

5/1/2013

 

$

 68.15

 

Open Market

 

Relational Investors LLC

 

Purchase

 

23,277

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Investors LLC

 

Purchase

 

5,671

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Investors LLC

 

Purchase

 

2,955

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Purchase

 

78,578

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Purchase

 

19,143

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Purchase

 

9,977

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Purchase

 

56,036

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Purchase

 

13,651

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Purchase

 

7,115

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Investors LLC

 

Purchase

 

117,979

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Investors LLC

 

Purchase

 

28,745

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Investors LLC

 

Purchase

 

14,985

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Coast Partners, L.P.

 

Purchase

 

18,573

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Coast Partners, L.P.

 

Purchase

 

4,525

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Coast Partners, L.P.

 

Purchase

 

2,358

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Fund Partners, L.P.

 

Purchase

 

1,455

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Fund Partners, L.P.

 

Purchase

 

354

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Fund Partners, L.P.

 

Purchase

 

184

 

5/2/2013

 

$

 70.28

 

Open Market

 

RH Fund 1, L.P.

 

Purchase

 

33,363

 

5/2/2013

 

$

 70.25

 

Open Market

 

RH Fund 1, L.P.

 

Purchase

 

8,128

 

5/2/2013

 

$

 69.66

 

Open Market

 

RH Fund 1, L.P.

 

Purchase

 

4,236

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Investors XV, L.P.

 

Purchase

 

17,334

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Investors XV, L.P.

 

Purchase

 

4,223

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Investors XV, L.P.

 

Purchase

 

2,201

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Investors XVI, L.P.

 

Purchase

 

10,266

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Investors XVI, L.P.

 

Purchase

 

2,501

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Investors XVI, L.P.

 

Purchase

 

1,303

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Investors XX, L.P.

 

Purchase

 

17,680

 

5/2/2013

 

$

 70.25

 

Open Market

 

 



 

Relational Investors XX, L.P.

 

Purchase

 

4,307

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Investors XX, L.P.

 

Purchase

 

2,244

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Investors XXIII, L.P.

 

Purchase

 

25,309

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Investors XXIII, L.P.

 

Purchase

 

6,165

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Investors XXIII, L.P.

 

Purchase

 

3,213

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

15,918

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

6,822

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

5,540

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

2,887

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Investors LLC

 

Purchase

 

69,910

 

5/2/2013

 

$

 70.25

 

Open Market

 

Relational Investors LLC

 

Purchase

 

17,031

 

5/2/2013

 

$

 69.66

 

Open Market

 

Relational Investors LLC

 

Purchase

 

8,876

 

5/2/2013

 

$

 70.28

 

Open Market

 

Relational Investors LLC

 

Purchase

 

18,978

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Investors LLC

 

Purchase

 

7,590

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors LLC

 

Purchase

 

13,830

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Purchase

 

64,063

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Purchase

 

25,623

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Purchase

 

46,687

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Purchase

 

45,684

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Purchase

 

18,272

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Purchase

 

33,293

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Investors LLC

 

Purchase

 

96,181

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Investors LLC

 

Purchase

 

38,477

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors LLC

 

Purchase

 

70,099

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Coast Partners, L.P.

 

Purchase

 

15,143

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Coast Partners, L.P.

 

Purchase

 

6,056

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Coast Partners, L.P.

 

Purchase

 

11,035

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Fund Partners, L.P.

 

Purchase

 

1,187

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Fund Partners, L.P.

 

Purchase

 

474

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Fund Partners, L.P.

 

Purchase

 

865

 

5/3/2013

 

$

 73.16

 

Open Market

 

RH Fund 1, L.P.

 

Purchase

 

27,200

 

5/3/2013

 

$

 73.12

 

Open Market

 

RH Fund 1, L.P.

 

Purchase

 

10,879

 

5/3/2013

 

$

 73.17

 

Open Market

 

RH Fund 1, L.P.

 

Purchase

 

19,822

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Investors XV, L.P.

 

Purchase

 

14,132

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Investors XV, L.P.

 

Purchase

 

5,652

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors XV, L.P.

 

Purchase

 

10,299

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Investors XVI, L.P.

 

Purchase

 

8,369

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Investors XVI, L.P.

 

Purchase

 

3,347

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors XVI, L.P.

 

Purchase

 

6,099

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Investors XX, L.P.

 

Purchase

 

14,415

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Investors XX, L.P.

 

Purchase

 

5,765

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors XX, L.P.

 

Purchase

 

10,505

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Investors XXIII, L.P.

 

Purchase

 

20,634

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Investors XXIII, L.P.

 

Purchase

 

8,253

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors XXIII, L.P.

 

Purchase

 

15,037

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

18,539

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

5,190

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

2,225

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

13,511

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Investors LLC

 

Purchase

 

56,996

 

5/3/2013

 

$

 73.12

 

Open Market

 

Relational Investors LLC

 

Purchase

 

22,797

 

5/3/2013

 

$

 73.17

 

Open Market

 

Relational Investors LLC

 

Purchase

 

41,537

 

5/3/2013

 

$

 73.16

 

Open Market

 

Relational Investors LLC

 

Purchase

 

9,274

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Investors Mid-Cap Fund I, L.P.

 

Purchase

 

31,307

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Investors Mid-Cap Fund II, L.P.

 

Purchase

 

22,326

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Investors LLC

 

Purchase

 

47,000

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Coast Partners, L.P.

 

Purchase

 

7,400

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Fund Partners, L.P.

 

Purchase

 

580

 

5/6/2013

 

$

 73.76

 

Open Market

 

RH Fund 1, L.P.

 

Purchase

 

13,293

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Investors XV, L.P.

 

Purchase

 

6,907

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Investors XVI, L.P.

 

Purchase

 

4,091

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Investors XX, L.P.

 

Purchase

 

7,045

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Investors XXIII, L.P.

 

Purchase

 

10,084

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Investors IX, L.P.

 

Purchase

 

9,060

 

5/6/2013

 

$

 73.76

 

Open Market

 

Relational Investors LLC

 

Purchase

 

27,854

 

5/6/2013

 

$

 73.76

 

Open Market

 

 


 

Exhibit B

 

JOINT FILING AGREEMENT

In accordance with Rule 13d-l(k) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the common stock, $10.00 par value, of SPX Corporation and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filing.  In evidence thereof, the undersigned hereby execute this Agreement this 6th day of May, 2013.

 

RELATIONAL INVESTORS MID-CAP FUND I, L.P.
RELATIONAL INVESTORS MID-CAP FUND II, L.P.
RELATIONAL FUND PARTNERS, L.P.
RELATIONAL COAST PARTNERS, L.P.
RELATIONAL INVESTORS IX, L.P.
RELATIONAL INVESTORS XV, L.P.
RELATIONAL INVESTORS XVI, L.P.
RELATIONAL INVESTORS XX, L.P.
RELATIONAL INVESTORS XXIII, L.P.

RH Fund 1, L.P.

 

By:

RELATIONAL INVESTORS, LLC

 

as general partner to each,

 

By:

/s/ Ralph V. Whitworth

 

 

 

Ralph V. Whitworth, Principal

 

 

 

 

 

RELATIONAL INVESTORS, LLC

 

 

 

 

 

 

 

 

By:

/s/ Ralph V. Whitworth

 

 

 

Ralph V. Whitworth, Principal

 

 

 

 

 

 

 

/s/ Ralph V. Whitworth

 

 

 

Ralph V. Whitworth

 

 

 

 

 

 

 

/s/ David H. Batchelder

 

 

 

David H. Batchelder