SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934
Filed by the Registrant |X|
Filed by a party other than the Registrant |_|
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|_| Preliminary Proxy Statement
|_| Confidential, for Use of the Commission Only (as Permitted by Rule
14a-6(e)(2))
|_| Definitive Proxy Statement
|X| Definitive Additional Materials
|_| Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12
QUANTA SERVICES, INC.
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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EXPLANATORY NOTE
Quanta Services, Inc., a Delaware corporation ("Quanta
Services"), is filing the materials contained in this Schedule 14A with the
Securities and Exchange Commission on May 1, 2002 in connection with the
solicitation of proxies for electing the board of directors of Quanta Services
at the 2002 annual meeting of Quanta Services' stockholders.
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April 30, 2002
Dear Quanta Stockholder:
Enclosed please find a copy of our 2001 Annual Report. We hope you find it
informative. Because the April 29 record date for participation at Quanta's 2002
annual meeting has passed, we are also enclosing another copy of our proxy
statement, as required by the bank or broker that holds your shares.
As you know, Aquila, Inc., formerly UtiliCorp United Inc., is trying to take
control of Quanta in order to achieve its own financial needs without offering
you anything in return.
AQUILA HAS PERFORMED POORLY AND ITS STOCKHOLDERS
HAVE SUFFERED GREATLY
While Quanta has performed well in a challenging economic environment, Aquila
has not. Consider the following:
>> On April 30, Aquila was placed on S&P's Credit Watch with a negative
outlook and its stock dropped an additional 6.2%;
>> On April 29, Aquila's stock dropped $5.15 or 23.15% to a new 52-week
low;
>> On April 26, Aquila was given a negative ratings outlook by Moody's
Investor Service;
>> On April 19, Aquila announced that its 2002 first quarter earnings
would be 54% less than its 2001 first quarter results;
>> On February 27, Aquila was downgraded by Fitch Rating Service to
BBB-, just above junk bond status; and
>> Aquila is engaged in a dispute with Chubb over their agreement to
collateralize $570 million worth of surety bonds.
QUANTA HAS PERFORMED WELL RELATIVE TO ITS PEERS
In a difficult environment during 2001, Quanta generated record revenues of
$2.01 billion and record cash flow from operations of $210 million, alongside
stronger EPS performance and better EBIT and EBITDA margins than its
competitors.
WE URGE YOU TO SIGN, DATE AND RETURN QUANTA'S
WHITE PROXY CARD TODAY.
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Our goals are to continue Quanta's good performance and to get out the vote
against Aquila. We hope that we will be able to count on your support. If you
have any questions about this process, you can call MacKenzie Partners, Inc.,
our proxy solicitor, toll free at 800-322-2885, or us at 713-629-7600.
Very truly yours,
By: /s/ Vincent D. Foster By: /s/ John R. Colson
Vincent D. Foster John R. Colson
Chairman Chief Executive Officer
1
IMPORTANT INFORMATION
Quanta Services, Inc. has filed a proxy statement with the Securities and
Exchange Commission relating to Quanta's solicitation of proxies from its
stockholders with respect to the Quanta Services, Inc. 2002 annual meeting of
stockholders. QUANTA SERVICES, INC. ADVISES SECURITY HOLDERS TO READ ITS PROXY
STATEMENT IN ITS ENTIRETY, BECAUSE IT CONTAINS IMPORTANT INFORMATION. Quanta's
proxy statement and other relevant documents are available for free at
www.sec.gov. You may also obtain a free copy of Quanta's proxy statement by
writing to Quanta Services, Inc. at 1360 Post Oak Boulevard, Suite 2100,
Houston, Texas 77056 or by contacting MacKenzie Partners, Inc., toll free at
1-800-322-2885. Detailed information regarding the names, affiliation and
interests of individuals who may be deemed participants in the solicitation of
proxies of Quanta's stockholders is available in the proxy statement filed by
Quanta with the SEC.
This letter contains various forward-looking statements and information,
including management's expectations regarding the future performance of Quanta.
Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. Such statements are subject to
certain risks, uncertainties and assumptions including, among other matters,
future growth in the electric utility and telecommunications outsourcing
industry and the ability of Quanta to complete acquisitions and to effectively
integrate the operations of acquired companies, and uncertainties relating to
Aquila's hostile proxy fight for the Company, as well as general risks related
to the industries in which Quanta, its customers and its suppliers operate.
Should one or more of these risks materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those expected. For a
discussion of the risks, investors are urged to refer to the Company's reports
filed under the Securities Exchange Act of 1934, as amended.