-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AN6NbO8nUNjRzEmY0+3PF1eEOYtNIi3rejkrcr4Ajuz8Kz3EWhN0ZkaAYpnZQgif RtZIJLoDBFz3twMtsP2TrA== 0000950135-07-001825.txt : 20070323 0000950135-07-001825.hdr.sgml : 20070323 20070323160328 ACCESSION NUMBER: 0000950135-07-001825 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070323 DATE AS OF CHANGE: 20070323 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HUB INTERNATIONAL LTD CENTRAL INDEX KEY: 0001133016 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE AGENTS BROKERS & SERVICES [6411] IRS NUMBER: 364412416 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-78847 FILM NUMBER: 07715334 BUSINESS ADDRESS: STREET 1: 8 NELSON STREET WEST STREET 2: 6TH FLOOR CITY: BRAMPTON STATE: A6 ZIP: L6X 4J2 BUSINESS PHONE: 905.866.5200 MAIL ADDRESS: STREET 1: 55 EAST JACKSON BOULEVARD STREET 2: FLOOR 14A CITY: CHICAGO STATE: IL ZIP: 60604 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Maple Tree Acquisition CORP CENTRAL INDEX KEY: 0001391726 IRS NUMBER: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: SUITE 1700, PARK PLACE STREET 2: 666 BURRARD STREET CITY: VANCOUVER STATE: A1 ZIP: V6C 2X8 BUSINESS PHONE: (604) 631-1300 MAIL ADDRESS: STREET 1: SUITE 1700, PARK PLACE STREET 2: 666 BURRARD STREET CITY: VANCOUVER STATE: A1 ZIP: V6C 2X8 SC 13D/A 1 b64675mtsc13dza.htm HUB INTERNATIONAL LIMITED sc13dza
 

     
 
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 1 )*

HUB INTERNATIONAL LIMITED
(Name of Issuer)
Common Shares
(Title of Class of Securities)
44332P101
(CUSIP Number)
William Logan
Apax Partners, L.P.
153 East 53rd Street, 53rd Floor
New York, New York 10022
(212) 419-2424
Amy Kim
Morgan Stanley
1585 Broadway
New York, New York 10036
(212) 761-4416
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
With a copy to:

Daniel S. Evans, Esq.
Ropes & Gray
One International Place
Boston, Massachusetts 02110

Brian E. Hamilton, Esq.
Sullivan & Cromwell LLP
125 Broad Street
New York, New York 10004
March 22, 2007
(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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 
 

 

Schedule 13D/A
     This Amendment No.1 (the “Amendment”) hereby amends the Statement on Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission on March 8, 2007 (the “Initial Statement”) relating to the common shares of Hub International Limited, a Canadian corporation (the “Company”). Terms used but not defined in this Amendment have the meanings defined in the Initial Statement. Except as specifically amended by this Amendment, the Initial Statement remains in full force and effect.
Item 4. Purpose of Transaction.
Item 4 — “Arrangement Agreement” is hereby amended and restated to read as follows:
   Arrangement Agreement
     On February 25, 2007, the Company entered into an Arrangement Agreement to be acquired by Maple Tree (as amended by Amendment No. 1 thereto dated as of March 22, 2007, the “Arrangement Agreement”). Certain members of the Company’s senior management team (collectively, the “Rollover Shareholders”), have agreed in principle to exchange a portion of their Common Shares and stock options to purchase Common Shares (“Company Options”) for shares and options of Maple Tree or an affiliate thereof.
     Under the terms of the Arrangement Agreement, Maple Tree will acquire all of the outstanding Common Shares, other than certain Common Shares held by Rollover Shareholders, pursuant to a Plan of Arrangement (the “Arrangement”) under the Canada Business Corporations Act (the “CBCA”). At the effective time of the Arrangement (the “Effective Time”), each Common Share, other than any Common Shares exchanged by the Rollover Shareholders or by shareholders who properly exercise dissent rights under the CBCA (“Dissenting Shareholders”), will be deemed to be transferred to Maple Tree in consideration for the right to receive a cash payment from the Company in the amount equal to US$41.50, without interest. Each Company Option that has not been exercised prior to the date of the Effective Time, other than Company Options exchanged by Rollover Shareholders, will be cancelled by the Company in consideration for the right to receive a cash payment from the Company in an amount equal to the difference between US$41.50 and the exercise price of such Company Option, less any amounts the Company is required to withhold for taxes. Each of the Company’s restricted share units (“Company RSUs”) that by its terms accelerates at the Effective Time will be cancelled in consideration for the right to receive a cash payment from the Company in the amount equal to US$41.50, less any amounts the Company is required to withhold for taxes. Each Company RSU that does not by its terms accelerate at the Effective Time will remain in effect, with appropriate adjustments determined by the Company pursuant to the terms of the Company’s equity incentive plan under which such Company RSU was issued, and will vest in accordance with its terms, unless the Company and Maple Tree determine on or prior to the Effective Date to accelerate the vesting of such Company RSU. Common Shares held by Dissenting Shareholders will be deemed to be transferred

 

 

to Maple Tree at the Effective Time in consideration for the right to receive an amount determined and payable in accordance with the provisions of the CBCA.
     Consummation of the Arrangement is subject to approval of the Arrangement by the Company’s shareholders, expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the Competition Act (Canada) and the Investment Canada Act and other customary closing conditions.
Item 5. Interest in Securities of the Issuer.
Item 5(c) is hereby amended and restated to read as follows:
(c)
     None of the Reporting Persons nor, to the knowledge of any of the Reporting Persons, any other person or entity referred to in Item 2 (including those listed on Schedule A hereto), has effected any transaction in Common Shares during the past sixty days, except for (i) the Arrangement Agreement and the Voting Agreement, and the transactions contemplated by those agreements and (ii) the transactions in common shares effected by a wholly-owned broker or dealer subsidiary of Morgan Stanley in the ordinary course of business on the New York Stock Exchange, the Toronto Stock Exchange or the over-the-counter market, as described below.

 

 

                     
Bought (B)/ Sold (S)   Quantity     Price     Trade Date
B
     200       32.600     01/23/2007
B
     200       32.450     01/23/2007
B
     200       32.460     01/23/2007
B
     100       32.500     01/23/2007
B
     100       32.530     01/23/2007
B
     200       32.589     01/23/2007
S
     400       32.580     01/23/2007
S
     100       32.590     01/23/2007
S
     100       32.610     01/23/2007

 

 

                     
Bought (B)/ Sold (S)   Quantity     Price     Trade Date
S
     100       32.620     01/23/2007
S
     100       32.630     01/23/2007
S
     1000       32.640     01/23/2007
S
     100       32.030     01/23/2007
S
     300       32.170     01/23/2007
S
     400       32.548     01/23/2007
S
     200       32.590     01/23/2007
B
     100       32.510     01/24/2007
B
     200       32.560     01/24/2007
B
     100       32.760     01/24/2007
B
     100       32.790     01/24/2007
B
     100       32.809     01/24/2007
B
     100       32.930     01/24/2007
B
     100       32.940     01/24/2007
B
     100       32.959     01/24/2007
B
     100       38.840     01/24/2007
S
     30       32.950     01/24/2007
S
     100       32.480     01/24/2007
S
     100       32.640     01/24/2007
S
     100       32.660     01/24/2007
S
     100       32.760     01/24/2007
S
     200       32.780     01/24/2007
S
     100       32.810     01/24/2007
S
     100       32.830     01/24/2007
S
     100       32.850     01/24/2007
S
     100       32.870     01/24/2007
S
     100       32.900     01/24/2007
S
     100       32.930     01/24/2007
S
     200       32.960     01/24/2007
B
     300       32.430     01/25/2007
B
     200       32.490     01/25/2007
B
     300       32.670     01/25/2007
B
     100       32.700     01/25/2007
B
     200       32.720     01/25/2007
B
     100       32.780     01/25/2007
S
     100       32.550     01/25/2007
S
     100       32.560     01/25/2007
B
     100       32.420     01/26/2007
B
     100       32.450     01/26/2007
B
     200       32.500     01/26/2007
B
     100       32.510     01/26/2007
B
     100       32.520     01/26/2007
B
     100       32.530     01/26/2007
B
     100       32.560     01/26/2007
B
     400       32.628     01/26/2007
B
     200       38.350     01/26/2007
S
     10       32.440     01/26/2007
S
     200       32.600     01/26/2007
S
     100       32.610     01/26/2007
S
     100       32.650     01/26/2007
S
     100       32.710     01/26/2007

 

 

                     
Bought (B)/ Sold (S)   Quantity     Price     Trade Date
B
     100       32.640     01/29/2007
B
     200       32.780     01/29/2007
B
     100       32.850     01/29/2007
B
     100       32.860     01/29/2007
B
     200       32.890     01/29/2007
B
     100       32.950     01/29/2007
B
     100       32.970     01/29/2007
B
     100       33.000     01/29/2007
B
     100       33.010     01/29/2007
S
     100       32.710     01/29/2007
S
     100       32.810     01/29/2007
S
     100       32.910     01/29/2007
S
     100       32.970     01/29/2007
S
     200       33.000     01/29/2007
S
     300       33.060     01/29/2007
S
     100       33.090     01/29/2007
S
     2,700       33.114     01/29/2007
S
     200       33.120     01/29/2007
S
     100       33.130     01/29/2007
B
     100       32.810     01/30/2007
B
     1,500       32.872     01/30/2007
S
     20       32.850     01/30/2007
S
     20       32.880     01/30/2007
S
     100       33.000     01/30/2007
B
     200       32.715     01/31/2007
B
     100       32.770     01/31/2007
B
     100       32.790     01/31/2007
B
     300       32.810     01/31/2007
B
     500       32.872     01/31/2007
B
     100       33.040     01/31/2007
S
     200       32.765     01/31/2007
S
     600       32.790     01/31/2007
S
     100       38.840     01/31/2007
B
     200       32.850     02/01/2007
B
     100       32.860     02/01/2007
B
     1,100       32.869     02/01/2007
B
     1,800       32.872     02/01/2007
B
     100       32.880     02/01/2007
S
     8       32.850     02/01/2007
S
     100       32.850     02/01/2007
S
     1,400       32.870     02/01/2007
S
     300       32.893     02/01/2007
B
     2,300       38.703     02/02/2007
S
     300       32.650     02/02/2007
S
     100       32.750     02/02/2007
S
     500       32.766     02/02/2007
S
     500       32.780     02/02/2007
S
     100       32.790     02/02/2007
S
     200       32.800     02/02/2007
S
     100       32.900     02/02/2007
S
     2,000       38.715     02/02/2007

 

 

                                     
Bought (B)/ Sold (S)   Quantity     Price     Trade Date                
B
     100       32.710     02/05/2007                
B
     100       32.760     02/05/2007                
B
     100       32.780     02/05/2007                
S
     50       32.730     02/05/2007                
S
     300       32.800     02/05/2007                
B
     100       32.660     02/06/2007                
S
     100       32.670     02/06/2007                
S
     100       32.740     02/06/2007                
B
     100       32.920     02/07/2007                
B
     300       33.000     02/07/2007                
S
     8       32.850     02/07/2007                
S
     100       33.000     02/07/2007                
S
     100       33.060     02/07/2007                
S
     300       39.100     02/07/2007                
B
     100       33.080     02/08/2007                
B
     100       33.100     02/08/2007                
B
     200       33.140     02/08/2007                
S
     100       33.060     02/08/2007                
S
     8,600       33.082     02/08/2007                
S
     100       33.210     02/08/2007                
S
     100       33.240     02/08/2007                
B
     100       33.510     02/09/2007                
B
     200       33.540     02/09/2007                
B
     3,900       33.557     02/09/2007                
B
     100       39.350     02/09/2007                
S
     100       33.280     02/09/2007                
S
     100       33.460     02/09/2007                
S
     100       33.490     02/09/2007                
S
     100       33.500     02/09/2007                
S
     400       33.508     02/09/2007                
S
     100       33.600     02/09/2007                
S
     100       33.610     02/09/2007                
S
     400       33.640     02/09/2007                
B
     100       33.040     02/12/2007                
B
     100       33.110     02/12/2007                
B
     800       33.150     02/12/2007                
B
     100       33.170     02/12/2007                
B
     100       33.260     02/12/2007                
B
     100       33.280     02/12/2007                
B
     200       33.290     02/12/2007                
B
     1,000       33.300     02/12/2007                
B
     4,900       33.311     02/12/2007                
B
     100       33.390     02/12/2007                
B
     100       33.460     02/12/2007                
B
     100       39.200     02/12/2007                
S
     100       33.610     02/12/2007                
S
     200       33.740     02/12/2007                
S
     1,100       39.190     02/12/2007                
S
     100       39.250     02/12/2007                
B
     100       33.070     02/13/2007                
B
     200       33.080     02/13/2007                

 

                     
Bought (B)/ Sold (S)   Quantity     Price     Trade Date
B
     200       33.100     02/13/2007
B
     200       33.200     02/13/2007
S
     100       33.140     02/13/2007
S
     100       33.180     02/13/2007
S
     100       33.200     02/13/2007
S
     100       33.280     02/13/2007
S
     100       33.300     02/13/2007
S
     100       38.620     02/13/2007
B
     100       33.220     02/14/2007
B
     100       33.250     02/14/2007
B
     100       33.270     02/14/2007
B
     100       33.280     02/14/2007
B
     100       33.290     02/14/2007
B
     300       33.297     02/14/2007
B
     200       33.390     02/14/2007
S
     100       33.170     02/14/2007
S
     43       33.190     02/14/2007
S
     457       33.213     02/14/2007
S
     300       33.300     02/14/2007
S
     100       38.680     02/14/2007
B
     100       33.190     02/15/2007
B
     200       33.250     02/15/2007
B
     100       33.270     02/15/2007
B
     100       33.280     02/15/2007
B
     100       33.330     02/15/2007
S
     10       33.27     02/15/2007
S
     200       33.100     02/15/2007
S
     100       33.180     02/15/2007
S
     100       33.210     02/15/2007
S
     200       33.250     02/15/2007
S
     200       33.270     02/15/2007
S
     100       33.290     02/15/2007
S
     100       33.300     02/15/2007
S
     100       38.580     02/15/2007
B
     200       33.320     02/16/2007
S
     200       33.320     02/16/2007
S
     100       33.330     02/16/2007
S
     100       33.350     02/16/2007
S
     100       33.400     02/16/2007
S
     200       38.625     02/16/2007
B
     100       33.360     02/20/2007
B
     200       33.460     02/20/2007
B
     100       33.520     02/20/2007
S
     500       33.430     02/20/2007
S
     100       33.360     02/20/2007
S
     100       33.410     02/20/2007
S
     300       33.460     02/20/2007
S
     100       39.080     02/20/2007
B
     300       33.410     02/21/2007
B
     100       38.690     02/21/2007
S
     100       33.390     02/21/2007

 

 

                     
Bought (B)/ Sold (S)   Quantity     Price     Trade Date
S
     100       33.460     02/21/2007
S
     100       33.500     02/21/2007
S
     100       33.600     02/21/2007
S
     200       33.680     02/21/2007
S
     100       33.780     02/21/2007
S
     100       33.790     02/21/2007
S
     300       33.830     02/21/2007
S
     300       38.900     02/21/2007
B
     100       33.820     02/22/2007
B
     100       33.950     02/22/2007
B
     100       34.110     02/22/2007
B
     100       34.140     02/22/2007
B
     700       34.190     02/22/2007
B
     200       39.450     02/22/2007
S
     30       34.130     02/22/2007
S
     30       34.130     02/22/2007
S
     900       33.910     02/22/2007
S
     100       33.960     02/22/2007
S
     100       33.990     02/22/2007
S
     100       34.000     02/22/2007
S
     100       34.030     02/22/2007
S
     100       34.040     02/22/2007
S
     500       34.076     02/22/2007
S
     200       39.445     02/22/2007
B
     500       34.460     02/23/2007
B
     100       34.470     02/23/2007
B
     200       34.475     02/23/2007
B
     1,700       39.730     02/23/2007
S
     2,100       34.380     02/23/2007
S
     100       34.390     02/23/2007
S
     900       34.432     02/23/2007
S
     100       34.450     02/23/2007
S
     200       34.500     02/23/2007
S
     100       39.900     02/23/2007
B
     200       39.439     02/26/2007
B
     700       39.454     02/26/2007
B
     4,600       39.465     02/26/2007
S
     200       39.440     02/26/2007
S
     5,300       39.464     02/26/2007
S
     12,300       39.549     02/26/2007
B
     1,600       39.442     02/27/2007
B
     1,518       39.470     02/27/2007
B
     28,000       39.471     02/27/2007
B
     500       39.480     02/27/2007
S
     1,900       45.801     02/27/2007
S
     106       39.000     03/02/2007
S
     500       39.050     03/02/2007
S
     352       38.950     03/07/2007
S
     5,144       38.990     03/07/2007
S
     300       39.000     03/07/2007
B
     3,407       39.020     03/08/2007
S
     200       39.010     03/08/2007
B
     1,000       46.100     03/09/2007
S
     176       38.950     03/13/2007

 

 

Item 7. Material to be Filed as Exhibits.
A.   Joint Filing Undertaking dated as of March 7, 2007 by and among Maple Tree, 0783521 B.C., Maple 2, Maple 1, Europe Maple, Europe VII Investments, Bridge Holdco, Apax Worldwide, US VII, US VII GP, US VII Ltd., Morgan Stanley and MSPI (previously filed as Exhibit A to the Initial Statement).
B.   Amendment No.1 to Arrangement Agreement dated as of March 22, 2007 by and between the Company and Maple Tree (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on March 22, 2007).

 

 

SIGNATURES
     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Amendment is true, complete and correct.
Dated: March 23, 2007
         
    MAPLE TREE ACQUISITION
    CORPORATION
 
        
 
  By:   /s/ William Logan
 
       
 
  Name:   William Logan
 
  Title:   Treasurer
 
        
    0783521 B.C. LTD.
 
        
 
  By:   /s/ William Logan
 
       
 
  Name:   William Logan
 
  Title:   Treasurer
 
        
    APAX MAPLE 2 SÀRL
 
        
 
  By:   /s/ Geoffrey Henry
 
       
 
  Name:   Geoffrey Henry
 
  Title:   Class A Director
 
        
 
  By:   /s/ W. David L. Williams
 
       
 
  Name:   W. David L. Williams
 
  Title:   Class B Director
 
        
    APAX MAPLE 1 SÀRL
 
        
 
  By:   /s/ Geoffrey Henry
 
       
 
  Name:   Geoffrey Henry
 
  Title:   Class A Director
 
        
 
  By:   /s/ W. David L. Williams
 
       
 
  Name:   W. David L. Williams
 
  Title:   Class B Director

 

 

         
    APAX EUROPE MAPLE S.A.R.L.
 
        
 
  By:   /s/ Geoffrey Henry
 
       
 
  Name:   Geoffrey Henry
 
  Title:   Class A Director
 
        
 
  By:   /s/ W. David L. Williams
 
       
 
  Name:   W. David L. Williams
 
  Title:   Class B Director
 
        
    APAX EUROPE VII INVESTMENTS SÁRL
    By: Apax Partners Europe Managers Ltd., its manager
 
        
 
  By:   /s/ Richard Wilson
 
       
 
  Name:   Richard Wilson
 
  Title:   Director
 
        
 
  By:   /s/ Andrew Sillitoe
 
       
 
  Name:   Andrew Sillitoe
 
  Title:   Director
 
        
    APAX EUROPE VII BRIDGE HOLDCO LTD.
 
        
 
  By:   /s/ Stephen J. Tilton
 
       
 
  Name:   Stephen J. Tilton
 
  Title:   Authorized Signatory
 
        
    APAX PARTNERS WORLDWIDE LLP
 
        
 
  By:   /s/ Richard Wilson
 
       
 
  Name:   Richard Wilson
 
  Title:   Member
 
        
 
  By:   /s/ Andrew Sillitoe
 
       
 
  Name:   Andrew Sillitoe
 
  Title:   Member

 

 

         
    APAX US VII, L.P.
 
        
    By: Apax US VII GP, L.P., its general partner
 
        
    By: Apax US VII GP, Ltd., its general partner
 
        
 
  By:   /s/ Peter Jeton
 
       
 
  Name:   Peter Jeton
 
  Title:   Authorized Signatory
 
        
    APAX US VII GP, L.P.
 
        
    By: Apax US VII GP, Ltd., its general partner
 
        
 
  By:   /s/ Peter Jeton
 
       
 
  Name:   Peter Jeton
 
  Title:   Authorized Signatory
 
        
    APAX US VII GP, Ltd.
 
        
 
  By:   /s/ Peter Jeton
 
       
 
  Name:   Peter Jeton
 
  Title:   Authorized Signatory
 
        
    MORGAN STANLEY
 
        
 
  By:   /s/ Dennine Bullard
 
       
 
  Name:   Dennine Bullard
 
  Title:   Authorized Signatory
 
        
    MORGAN STANLEY PRINCIPAL INVESTMENTS,
 
  INC.    
 
        
 
  By:   /s/ Edgar A. Sabounghi
 
       
 
  Name:   Edgar A. Sabounghi
 
  Title:   Vice President

 

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