-----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, LmP3T5e0VqyeA5/jMtmCWaWxQN+swDfSnlePhJ3nG9+pNi5PYs235fb+kqbmfhS0 BxMTcXkj5JmxIbpV2tsL2A== 0001341004-05-000513.txt : 20051208 0001341004-05-000513.hdr.sgml : 20051208 20051208060142 ACCESSION NUMBER: 0001341004-05-000513 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20051208 DATE AS OF CHANGE: 20051208 GROUP MEMBERS: DRAWBRIDGE DSO SECURITIES LLC GROUP MEMBERS: DRAWBRIDGE GLOBAL MACRO ADVISORS LLC GROUP MEMBERS: DRAWBRIDGE GLOBAL MACRO FUND LP GROUP MEMBERS: DRAWBRIDGE GLOBAL MACRO FUND LTD. GROUP MEMBERS: DRAWBRIDGE GLOBAL MACRO GP LLC GROUP MEMBERS: DRAWBRIDGE GLOBAL MACRO MASTER FUND LTD. GROUP MEMBERS: DRAWBRIDGE GLOBAL OPPORTUNITIES LLC GROUP MEMBERS: DRAWBRIDGE OSO SECURITIES LLC GROUP MEMBERS: DRAWBRIDGE SPECIAL OPPORTUNITIES ADVISORS LLC GROUP MEMBERS: DRAWBRIDGE SPECIAL OPPORTUNITIES FUND LP GROUP MEMBERS: DRAWBRIDGE SPECIAL OPPORTUNITIES FUND LTD. GROUP MEMBERS: DRAWBRIDGE SPECIAL OPPORTUNITIES GP LLC GROUP MEMBERS: FORTRESS INVESTMENT GROUP LLC GROUP MEMBERS: FORTRESS PRINCIPAL INVESTMENT HOLDINGS II LLC GROUP MEMBERS: FORTRESS PRINCIPAL INVESTMENT HOLDINGS IV LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NORTHWESTERN CORP CENTRAL INDEX KEY: 0000073088 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 460172280 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-36015 FILM NUMBER: 051250786 BUSINESS ADDRESS: STREET 1: 125 S DAKOTA AVENUE STREET 2: SUITE 1100 CITY: SIOUX STATE: SD ZIP: 57104 BUSINESS PHONE: 6059782908 MAIL ADDRESS: STREET 1: 125 S DAKOTA AVENUE STREET 2: SUITE 1100 CITY: SIOUX STATE: SD ZIP: 57104 FORMER COMPANY: FORMER CONFORMED NAME: NORTHWESTERN PUBLIC SERVICE CO DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Fortress Investment Holdings LLC CENTRAL INDEX KEY: 0001292513 IRS NUMBER: 133989887 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 1251 AVENUE OF THE AMERICAS, 16TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: (212) 798-6100 MAIL ADDRESS: STREET 1: 1251 AVENUE OF THE AMERICAS, 16TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10020 SC 13D 1 schedule13d.txt SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 Information to be included in statements filed pursuant to Rule 13D-1(A) and Amendments thereto filed pursuant to Rule 13D-2(A) Northwestern Corporation - ------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $0.01 per share - ------------------------------------------------------------------------------- (Title of Class of Securities) 668074305 - ------------------------------------------------------------------------------- (CUSIP Number) Michael Cohn c/o Fortress Investment Group LLC 1345 Avenue of the Americas New York, New York 10105 (212) 798-6100 - ------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 7, 2005 - ------------------------------------------------------------------------------- (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 Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. |X| *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). SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 2 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge Global Macro Fund LP - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ------------------------------------------------------ SHARES 8 SHARED VOTING POWER -52,995-* ------------------------------------------------------ BENEFICIALLY 9 SOLE DISPOSITIVE POWER -0- ------------------------------------------------------ OWNED BY 10 SHARED DISPOSITIVE POWER -52,995-* EACH REPORTING PERSON WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -52,995- - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) PN - -------------------------------------------------------------------------------- * Solely in its capacity as a member of Drawbridge Global Macro Master Fund Ltd. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 3 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge Global Macro GP LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------- ----------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ----------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY -52,995-* ----------------------------------------------------- OWNED BY 9 SOLE DISPOSITIVE POWER EACH -0- ----------------------------------------------------- REPORTING 10 SHARED DISPOSITIVE POWER PERSON -52,995-* WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -52,995- - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- * Solely in its capacity as the general partner of Drawbridge Global Macro Fund LP. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 4 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge Global Macro Master Fund Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------- ----------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY -546,338-* ------------------------------------------------------ OWNED BY 9 SOLE DISPOSITIVE POWER EACH -0- ------------------------------------------------------ REPORTING 10 SHARED DISPOSITIVE POWER PERSON -546,338-* WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -546,338- - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.5% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- * Solely in its capacity as the sole member of Drawbridge Global Opportunities LLC. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 5 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge Global Macro Advisors LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------- ------------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF -0- ------------------------------------------------------ 8 SHARED VOTING POWER SHARES -546,338-* ------------------------------------------------------ BENEFICIALLY 9 SOLE DISPOSITIVE POWER OWNED BY -0- ------------------------------------------------------ EACH 10 SHARED DISPOSITIVE POWER REPORTING -546,338-* PERSON WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -546,338- - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.5% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- * Solely in its capacity as the investment advisor of Drawbridge Global Macro Master Fund Ltd., Drawbridge Global Macro Fund LP, and Drawbridge Global Macro Fund Ltd. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 6 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge Global Macro Fund Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------- ------------------------------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF -0- ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY -493,343-* OWNED BY ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER EACH -0- REPORTING ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER PERSON -493,343-* WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -493,343- - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.4% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- * Solely in its capacity as a member of Drawbridge Global Macro Master Fund Ltd. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 7 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge Global Opportunities LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 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) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------- ------------------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF -0- ----------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY -546,338-* OWNED BY ----------------------------------------------------- 9 SOLE DISPOSITIVE POWER EACH -0- ----------------------------------------------------- REPORTING 10 SHARED DISPOSITIVE POWER PERSON -546,338-* WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -546,338- - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.5% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- * As direct holder of the shares. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 8 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge Special Opportunities Fund LP - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY -1,174,515-* (inclusive of 25,255 shares issuable upon exercise of warrants OWNED BY beneficially owned by the reporting person which are exercisable as of or within 60 days of December 7, 2005) EACH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER WITH -1,174,515-* - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -1,174,515- - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.3% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005 and including 25,255 shares issuable upon exercise of e warrants beneficially owned by the reporting person which are exercisable as of or within 60 days of December 7, 2005) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) PN - -------------------------------------------------------------------------------- * Solely in its capacity as the sole member of Drawbridge DSO Securities LLC. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 9 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge DSO Securities LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 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) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ----------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY -1,174,515-* (inclusive of 25,255 shares issuable upon exercise of warrants beneficially owned by OWNED BY the reporting person which are exercisable as of or within 60 days of December 7, 2005) EACH ----------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON -0- ----------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER -1,174,515-* - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -1,174,515- - ------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.3% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005 and including 25,255 shares issuable upon exercise of warrants beneficially owned by the reporting person which are exercisable as of or within 60 days of December 7, 2005) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- * As direct holder of the shares. SCHEDULE 13D - ------------------------------------------------------------------------------- CUSIP No. 668074305 Page 10 of 20 Pages - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge Special Opportunities Fund Ltd. - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY -202,811-* ------------------------------------------------------ OWNED BY 9 SOLE DISPOSITIVE POWER -0- EACH ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER REPORTING -202,811-* PERSON WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -202,811- - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.6% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005) - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - ------------------------------------------------------------------------------- * Solely in its capacity as the sole member of Drawbridge OSO Securities LLC. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 11 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge OSO Securities LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 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) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------- ----------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ------------------------------------------------------ SHARES 8 SHARED VOTING POWER BENEFICIALLY -202,811-* ------------------------------------------------------ OWNED BY 9 SOLE DISPOSITIVE POWER EACH -0- ----------------------------------------------------- REPORTING 10 SHARED DISPOSITIVE POWER PERSON -202,811-* WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -202,811- - ------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.6% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- * As direct holder of the shares. SCHEDULE 13D - ------------------------------------------------------------------------------- CUSIP No. 668074305 Page 12 of 20 Pages - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge Special Opportunities GP LLC - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------- ---------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ----------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY -1,174,515-* (inclusive of 25,255 shares issuable upon exercise of warrants beneficially owned OWNED BY by the reporting person which are exercisable as of or within 60 days of December 7, 2005) EACH ----------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER -0- PERSON ---------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER -1,174,515-* ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -1,174,515- - ------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.3% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005 and including 25,255 shares issuable upon exercise of warrants beneficially owned by the reporting person which are exercisable as of or within 60 days of December 7, 2005) - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - ------------------------------------------------------------------------------- * Solely in its capacity as the general partner of Drawbridge Special Opportunities Fund LP. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 13 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Drawbridge Special Opportunities Advisors LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ------------------------------------------------------ SHARES 8 SHARED VOTING POWER -1,377,326-* (inclusive of 25,255 shares issuable BENEFICIALLY upon exercise of warrants beneficially owned by the reporting person which are exercisable as of OWNED BY or within 60 days of December 7, 2005) EACH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH -1,377,326-* - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -1,377,326- - ------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.9% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005 and including 25,255 shares issuable upon exercise of warrants beneficially owned by the reporting person which are exercisable as of or within 60 days of December 7, 2005) - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - ------------------------------------------------------------------------------- * 1,174,515 shares solely in its capacity as the investment advisor of Drawbridge Special Opportunities Fund LP and 202,811 shares solely in its capacity as the investment advisor of Drawbridge Special Opportunities Fund Ltd. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 668074305 Page 14 of 20 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fortress Investment Group LLC - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ----------------------------------------------------- SHARES 8 SHARED VOTING POWER -1,923,664-* (inclusive of 25,255 shares issuable BENEFICIALLY upon exercise of warrants beneficially owned by the reporting person which are exercisable as of OWNED BY or within 60 days of December 7, 2005) ----------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ----------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH -1,923,664-* - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -1,923,664- - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.4% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005 and including 25,255 shares issuable upon exercise of warrants beneficially owned by the reporting person which are exercisable as of or within 60 days of December 7, 2005) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- * 546,338 shares solely in its capacity as the sole managing member of Drawbridge Global Macro Advisors LLC and 1,377,326 shares solely in its capacity as the sole managing member of Drawbridge Special Opportunities Advisors LLC. SCHEDULE 13D - ------------------------------------------------------------------------------- CUSIP No. 668074305 Page 15 of 20 Pages - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fortress Investment Holdings LLC - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ------------------------------------------------------ SHARES 8 SHARED VOTING POWER -1,923,664-* (inclusive of 25,255 shares issuable BENEFICIALLY upon exercise of warrants beneficially owned by the reporting person which are exercisable as of OWNED BY or within 60 days of December 7, 2005) ------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER -0- REPORTING ----------------------------------------------------- 10 SHARED DISPOSITIVE POWER PERSON -1,923,664-* WITH - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -1,923,664- - ------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.4% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005 and including 25,255 shares issuable upon exercise of warrants beneficially owned by the reporting person which are exercisable as of or within 60 days of December 7, 2005) - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - ------------------------------------------------------------------------------- * Solely in its capacity as the sole member of Fortress Investment Group LLC. SCHEDULE 13D - ------------------------------------------------------------------------------- CUSIP No. 668074305 Page 16 of 20 Pages - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fortress Principal Investment Holdings II LLC - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ------------------------------------------------------ 8 SHARED VOTING POWER BENEFICIALLY -52,995-* OWNED BY ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER EACH -0- REPORTING ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER PERSON -52,995-* WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -52,995- - ------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005) - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - ------------------------------------------------------------------------------- * Solely in its capacity as the managing member of Drawbridge Global Macro GP LLC. SCHEDULE 13D - ------------------------------------------------------------------------------- CUSIP No. 668074305 Page 17 of 20 Pages - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fortress Principal Investment Holdings IV LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) | x | (b) | | - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) Not applicable. - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- ------------------------------------------------------ SHARES 8 SHARED VOTING POWER -1,174,515-* (inclusive of 25,255 shares issuable BENEFICIALLY upon exercise of warrants beneficially owned by the reporting person which are exercisable as of OWNED BY or within 60 days of December 7, 2005) ------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------------------------------------------------------ PERSON 10 SHARED DISPOSITIVE POWER WITH -1,174,515-* - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -1,174,515- - ------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.3% (based on 35,705,523 shares of common stock outstanding as of November 1, 2005 and including 25,255 shares issuable upon exercise of warrants beneficially owned by the reporting person which are exercisable as of or within 60 days of December 7, 2005) - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - ------------------------------------------------------------------------------- * Solely in its capacity as the managing member of Drawbridge Special Opportunities GP LLC. The information set forth in response to each separate Item shall be deemed to be a response to all Items where such information is relevant. Item 1. Security and Issuer. This statement on Schedule 13D (this "Statement") relates to shares of common stock, par value $0.01 per share ("Common Stock"), of Northwestern Corporation , a Delaware corporation (the "Issuer"). The principal executive offices of the Issuer are located at 125 South Dakota Avenue, Suite 1100, Sioux Falls, South Dakota 57104. Item 2. Identity and Background (a), (b), (c) and (f). This Statement is being filed jointly by Drawbridge Global Macro Fund LP, a Delaware limited partnership ("Drawbridge Global LP"); Drawbridge Global Macro GP LLC, a Delaware limited liability company ("Drawbridge Global GP"); Drawbridge Global Macro Master Fund Ltd., a company organized under the laws of the Cayman Islands ("Drawbridge Master"); Drawbridge Global Macro Advisors LLC, a Delaware limited liability company ("Drawbridge Global Macro Advisors"); Drawbridge Global Macro Fund Ltd., a company organized under the laws of the Cayman Islands ("Drawbridge Global Ltd"); Drawbridge Global Opportunities LLC, a Delaware limited liability company ("Drawbridge Global Opportunities LLC"); Drawbridge Special Opportunities Fund LP, a Delaware limited partnership ("Drawbridge Special Opportunities LP"); Drawbridge DSO Securities LLC, a Delaware limited liability company ("Drawbridge DSO Securities LLC"); Drawbridge Special Opportunities Fund Ltd., a company organized under the laws of the Cayman Islands ("Drawbridge Special Opportunities Ltd"); Drawbridge OSO Securities LLC, a Delaware limited liability company ("Drawbridge OSO Securities LLC"); Drawbridge Special Opportunities GP LLC, a Delaware limited liability company ("Drawbridge Special Opportunities GP"); Drawbridge Special Opportunities Advisors LLC, a Delaware limited liability company ("Drawbridge Special Opportunities Advisors"); Fortress Investment Group LLC, a Delaware limited liability company ("FIG"); Fortress Investment Holdings LLC, a Delaware limited liability company ("FIH"); Fortress Principal Investment Holdings II LLC, a Delaware limited liability company ("FPIH II"); Fortress Principal Investment Holdings IV LLC, a Delaware limited liability company ("FPIH IV" and, together with Drawbridge Global LP, Drawbridge Global GP, Drawbridge Master, Drawbridge Global Macro Advisors, Drawbridge Global Ltd, Drawbridge Global Opportunities LLC, Drawbridge Special Opportunities LP, Drawbridge DSO Securities LLC, Drawbridge Special Opportunities Ltd, Drawbridge OSO Securities LLC, Drawbridge Special Opportunities GP, Drawbridge Special Opportunities Advisors, FIG, FIH, and FPIH II, the "Reporting Persons"; and each individually, a "Reporting Person"). Drawbridge Special Opportunities Ltd, Drawbridge Special Opportunities Advisors, FIG and FIH are collectively referred to herein as the "OSO Reporting Persons"; Drawbridge Special Opportunities LP, Drawbridge Special Opportunities Advisors, FIG, FIH, Drawbridge Special Opportunities GP and FPIH IV are collectively referred to herein as the "DSO Reporting Persons"; and Drawbridge Master, Drawbridge Global LP, Drawbridge Global Ltd, Drawbridge Global GP, FPIH II, Drawbridge Global Macro Advisors, FIG and FIH are collectively referred to herein as the "Global Opportunities Reporting Persons". The business address of each of the Reporting Persons is 1345 Avenue of the Americas, 46th Floor, New York, New York 10105. Set forth in Annex A attached hereto is a listing of the directors and the executive officers of FIG and the managers and members of Drawbridge Global GP, Drawbridge Master, Drawbridge Global Macro Advisors, Drawbridge Global Ltd, Drawbridge Global Opportunities LLC, Drawbridge DSO Securities LLC, Drawbridge Special Opportunities Ltd, Drawbridge OSO Securities LLC, Drawbridge Special Opportunities GP, Drawbridge Special Opportunities Advisors, FIH, FPIH II, and FPIH IV (collectively, the "Covered Persons"), and the business address and present principal occupation or employment of each of the Covered Persons, and is incorporated herein by reference. The general partner of Drawbridge Global LP is Drawbridge Global GP and the general partner of Drawbridge Special Opportunities LP is Drawbridge Special Opportunities GP. Each of the Covered Persons is a United States citizen. (d) and (e). None of the Reporting Persons, or, to the best of their knowledge, the Covered Persons has, during the past five years, (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which any of them is or was 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 a violation in respect to such laws. Item 3. Source and Amount of Funds or Other Consideration Not applicable. Item 4. Purpose of Transaction On December 7, 2005, Drawbridge Special Opportunities Advisors sent a letter to the Issuer, a copy of which is filed with this Statement as Exhibit 1.2. As described in the letter, Drawbridge Special Opportunities Advisors expressed its concerns with the adoption of the shareholders' rights plan by the Board of Directors of the Issuer (the "Board") and requested that the Board engage Black Hills Corporation ("Black Hills") as soon as possible in a discussion regarding its proposal to merge with the Issuer. Specifically, Drawbridge Special Opportunities Advisors requested that the Board execute a confidentiality agreement with Black Hills and begin good faith negotiations with the aim of negotiating a definitive merger agreement by the end of January 2006. Notwithstanding the concerns raised in the letter, the Reporting Persons hold the Common Stock of the Issuer for investment purposes only and have no present plans or intentions which would result in or relate to any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Item 5. Interest in Securities of the Issuer (a) and (b). For the reasons set forth below, each of the OSO Reporting Persons may be deemed to beneficially own the 202,811 shares of Common Stock (the "OSO Shares") held directly by Drawbridge OSO Securities LLC. None of Drawbridge Special Opportunities Ltd, Drawbridge Special Opportunities Advisors, FIG and FIH directly owns any securities of the Issuer. However, (i) Drawbridge Special Opportunities Ltd, as the sole member of Drawbridge OSO Securities LLC, has the ability to direct the management of the business and affairs of Drawbridge OSO Securities LLC; (ii) Drawbridge Special Opportunities Advisors, as the investment advisor of Drawbridge Special Opportunities Ltd, has the ability to direct the management of the business and affairs of Drawbridge Special Opportunities Ltd; (iii) FIG, as the sole managing member of Drawbridge Special Opportunities Advisors, has the ability to direct the management of the business and affairs of Drawbridge Special Opportunities Advisors; and (iv) FIH, as the sole member of FIG, has the ability to direct the management of FIG's business and affairs. For the reasons set forth below, each of the DSO Reporting Persons may be deemed to beneficially own the 1,174,515 shares of Common Stock (the "DSO Shares") held directly by Drawbridge DSO Securities LLC. None of Drawbridge Special Opportunities LP, Drawbridge Special Opportunities Advisors, FIG, FIH, Drawbridge Special Opportunities GP and FPIH IV directly owns any securities of the Issuer. However, (i) Drawbridge Special Opportunities LP, as the sole member of Drawbridge DSO Securities LLC, has the ability to direct the management of the business and affairs of Drawbridge DSO Securities LLC; (ii) Drawbridge Special Opportunities Advisors, as the investment advisor of Drawbridge Special Opportunities LP, has the ability to direct the management of the business and affairs of Drawbridge Special Opportunities LP; (iii) FIG, as the sole managing member of Drawbridge Special Opportunities Advisors, has the ability to direct the management of the business and affairs of Drawbridge Special Opportunities Advisors; (iv) FIH, as the sole member of FIG, has the ability to direct the management of FIG's business and affairs; (v) Drawbridge Special Opportunities GP, as the general partner of Drawbridge Special Opportunities LP, has the ability to direct the management of the business and affairs of Drawbridge Special Opportunities LP; and (vi) FPIH IV, as the sole managing member of Drawbridge Special Opportunities GP, has the ability to direct the management of the business and affairs of Drawbridge Special Opportunities GP. For the reasons set forth below, each of the Global Opportunities Reporting Persons may be deemed to beneficially own the 546,338 shares of Common Stock (the "Global Opportunities Shares" and, together with the OSO Shares and the DSO Shares, the "Reported Shares") held directly by Drawbridge Global Opportunities LLC. None of Drawbridge Master, Drawbridge Global LP, Drawbridge Global Ltd, Drawbridge Global GP, FPIH II, Drawbridge Global Macro Advisors, FIG and FIH directly owns any securities of the Issuer. However, (i) Drawbridge Master, as the owner of all issued and outstanding shares of beneficial interest of Drawbridge Global Opportunities LLC, has the ability to direct the management of the business and affairs of Drawbridge Global Opportunities LLC; (ii) Drawbridge Global LP and Drawbridge Global Ltd, as the owners of all issued and outstanding shares of beneficial interest of Drawbridge Master, have the ability to direct the management of the business and affairs of Drawbridge Master; (iii) Drawbridge Global GP, as the general partner of Drawbridge Global LP, has the ability to direct the management of the business and affairs of Drawbridge Global LP; (iv) FPIH II, as the sole managing member of Drawbridge Global GP, has the ability to direct the management of the business and affairs of Drawbridge Global GP; (v) Drawbridge Global Macro Advisors, as the investment advisor of Drawbridge Master, Drawbridge Global LP, and Drawbridge Global Ltd, has the ability to direct the management of the business and affairs of each of Drawbridge Master, Drawbridge Global LP, and Drawbridge Global Ltd; (vi) FIG, as the sole managing member of Drawbridge Global Macro Advisors, has the ability to direct the management of the business and affairs of Drawbridge Global Macro Advisors; and (vii) FIH, as the sole member of FIG, has the ability to direct the management of FIG's business and affairs. With respect to all shares of Common Stock owned by the Reporting Persons, (i) none of the Reporting Persons has the sole power to vote or to direct the vote, or to dispose or to direct the disposition, of the Reported Shares; (ii) each of the DSO Reporting Persons have the shared power to vote or to direct the vote, or to dispose or to direct the disposition of the DSO Shares; (iii) each of the OSO Reporting Persons have the shared power to vote or to direct the vote, or to dispose or to direct the disposition of the OSO Shares; and (iv) each of the Global Opportunities Reporting Persons have the shared power to vote or to direct the vote, or to dispose or to direct the disposition of the Global Opportunities Shares. As a result of their ownership of the Reported Shares, the OSO Reporting Persons collectively control 0.6% of the outstanding voting capital stock of the Issuer; the DSO Reporting Persons collectively control 3.3% of the outstanding voting capital stock of the Issuer; and the Global Opportunities Reporting Persons collectively control 1.5% of the outstanding voting capital stock of the Issuer. FIG and FIH collectively control 5.4% of the outstanding voting capital stock of the Issuer. None of the Covered Persons directly owns any securities of the Issuer. However, by reason of their status as a manager or executive officer, or member of a Reporting Person, a Covered Person may be deemed to be the beneficial owner of the shares of Common Stock owned directly or otherwise beneficially by such Reporting Person. The Reporting Persons have been advised that each of the Covered Persons disclaims beneficial ownership of the shares of common stock from time to time owned directly or otherwise beneficially by such Reporting Persons. (c), (d) and (e). Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. Except as otherwise set forth herein, neither any of the Reporting Persons nor, to the best of such Reporting Persons' knowledge, any of the Covered Persons has any contracts, arrangements, understandings or relationships (legal or otherwise), with any person with respect to any securities of the Issuer, including, but not limited to, transfer or voting of any securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies. Item 7. Material to be Filed as Exhibits 1.1 Joint Filing Agreement, dated December 7, 2005, by and between Drawbridge Global Macro Fund LP, a Delaware limited partnership, Drawbridge Global Macro GP LLC, a Delaware limited liability company, Drawbridge Global Macro Master Fund Ltd., a company organized under the laws of the Cayman Islands, Drawbridge Global Macro Advisors LLC, a Delaware limited liability company, Drawbridge Global Macro Fund Ltd., a company organized under the laws of the Cayman Islands, Drawbridge Global Opportunities LLC, a Delaware limited liability company, Drawbridge Special Opportunities Fund LP, a Delaware limited partnership, Drawbridge DSO Securities LLC, a Delaware limited liability company, Drawbridge Special Opportunities Fund Ltd., a company organized under the laws of the Cayman Islands, Drawbridge OSO Securities LLC, a Delaware limited liability company, Drawbridge Special Opportunities GP LLC, a Delaware limited liability company, Drawbridge Special Opportunities Advisors LLC, a Delaware limited liability company, Fortress Investment Group LLC, a Delaware limited liability company, Fortress Investment Holdings LLC, a Delaware limited liability company, Fortress Principal Investment Holdings II LLC, a Delaware limited liability company, and Fortress Principal Investment Holdings IV LLC, a Delaware limited liability company. 1.2 Letter from Drawbridge Special Opportunities Advisors to the Issuer, dated December 7, 2005. 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: December 7, 2005 DRAWBRIDGE GLOBAL MACRO FUND LP By: DRAWBRIDGE GLOBAL MACRO GP LLC its general partner By: /s/ Kevin Treacy --------------------------------- Name: Kevin Treacy Title: Chief Financial Officer 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: December 7, 2005 DRAWBRIDGE GLOBAL MACRO GP LLC By: /s/ Kevin Treacy ---------------------------------- Name: Kevin Treacy Title: Chief Financial Officer 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: December 7, 2005 DRAWBRIDGE GLOBAL MACRO ADVISORS LLC By: /s/ Kevin Treacy ---------------------------------- Name: Kevin Treacy Title: Chief Financial Officer 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: December 7, 2005 DRAWBRIDGE GLOBAL MACRO FUND LTD By: /s/ Kevin Treacy ---------------------------------- Name: Kevin Treacy Title: Chief Financial Officer 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: December 7, 2005 DRAWBRIDGE SPECIAL OPPORTUNITIES FUND LP By: DRAWBRIDGE SPECIAL OPPORTUNITIES GP LLC its general partner By: /s/ John King ---------------------------------- Name: John King Title: Chief Financial Officer 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: December 7, 2005 DRAWBRIDGE SPECIAL OPPORTUNITIES ADVISORS LLC By: /s/ John King ---------------------------------- Name: John King Title: Chief Financial Officer 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: December 7, 2005 DRAWBRIDGE GLOBAL MACRO MASTER FUND LTD. By: /s/ Kevin Treacy ---------------------------------- Name: Kevin Treacy Title: Chief Financial Officer 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: December 7, 2005 DRAWBRIDGE GLOBAL OPPORTUNITIES LLC By: /s/ Kevin Treacy ---------------------------------- Name: Kevin Treacy Title: Chief Financial Officer 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: December 7, 2005 DRAWBRIDGE SPECIAL OPPORTUNITIES LTD. By: /s/ John King ---------------------------------- Name: John King Title: Chief Financial Officer 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: December 7, 2005 DRAWBRIDGE OSO SECURITIES LLC By: /s/ John King ---------------------------------- Name: John King Title: Chief Financial Officer 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: December 7, 2005 DRAWBRIDGE DSO SECURITIES LLC By: /s/ John King ---------------------------------- Name: John King Title: Chief Financial Officer 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: December 7, 2005 FORTRESS INVESTMENT GROUP LLC By: /s/ Peter L. Briger ---------------------------------- Name: Peter L. Briger Title: Authorized Person 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: December 7, 2005 FORTRESS INVESTMENT HOLDINGS LLC By: /s/ Peter L. Briger ---------------------------------- Name: Peter L. Briger Title: Authorized Person 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: December 7, 2005 FORTRESS PRINCIPAL INVESTMENT HOLDINGS II LLC By: /s/ Peter L. Briger ---------------------------------- Name: Peter L. Briger Title: Authorized Person 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: December 7, 2005 FORTRESS PRINCIPAL INVESTMENT HOLDINGS IV LLC By: /s/ Peter L. Briger ---------------------------------- Name: Peter L. Briger Title: Authorized Person ANNEX A DIRECTORS AND EXECUTIVE OFFICERS OF FORTRESS INVESTMENT GROUP LLC The name and principal occupation of each of the officers of Fortress Investment Group LLC are listed below. The principal business address of each of the officers of Fortress Investment Group LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Wesley R. Edens Chairman and Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Robert I. Kauffman Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Randal A. Nardone Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Peter L. Briger Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Michael E. Novogratz Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC MANAGERS AND MEMBERS OF DRAWBRIDGE GLOBAL MACRO GP LLC The name and principal occupation of each of the managers and members of Drawbridge Global Macro GP LLC are listed below. The principal business address of each of the managers and members of Drawbridge Global Macro GP LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Michael E. Novogratz Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Kevin Treacy Chief Financial Officer of Drawbridge Global Macro Advisors LLC and Drawbridge Global Macro GP LLC Scott Lawin Chief Operating Officer of Drawbridge Global Macro Advisors LLC and Drawbridge Global Macro GP LLC Randal A. Nardone Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC MANAGERS AND MEMBERS OF DRAWBRIDGE GLOBAL MACRO MASTER FUND LTD. The name and principal occupation of each of the managers and members of Drawbridge Global Macro Master Fund Ltd. are listed below. The principal business address of each of the managers and members of Drawbridge Global Macro Master Fund Ltd. is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Kevin Treacy Chief Financial Officer of Drawbridge Global Macro Advisors LLC and Drawbridge Global Macro GP LLC David Litton Director John Banks Director MANAGERS AND MEMBERS OF DRAWBRIDGE GLOBAL MACRO ADVISORS LLC The name and principal occupation of each of the managers and members of Drawbridge Global Macro Advisors LLC are listed below. The principal business address of each of the managers and members of Drawbridge Global Macro Advisors LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Michael E. Novogratz Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Kevin Treacy Chief Financial Officer of Drawbridge Global Macro Advisors LLC and Drawbridge Global Macro GP LLC Scott Lawin Chief Operating Officer of Drawbridge Global Macro Advisors LLC and Drawbridge Global Macro GP LLC Randal A. Nardone Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC MANAGERS AND MEMBERS OF DRAWBRIDGE GLOBAL MACRO FUND LTD. The name and principal occupation of each of the managers and members of Drawbridge Global Macro Fund Ltd. are listed below. The principal business address of each of the managers and members of Drawbridge Global Macro Fund Ltd. is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Kevin Treacy Chief Financial Officer of Drawbridge Global Macro Advisors LLC and Drawbridge Global Macro GP LLC David Litton Director John Banks Director MANAGERS AND MEMBERS OF DRAWBRIDGE GLOBAL OPPORTUNITIES LLC The name and principal occupation of each of the managers and members of Drawbridge Global Opportunities LLC are listed below. The principal business address of each of the managers and members of Drawbridge Global Opportunities LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Michael E. Novogratz Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Scott Lawin Chief Operating Officer of Drawbridge Global Macro Advisors LLC and Drawbridge Global Macro GP LLC Kevin Treacy Chief Financial Officer of Drawbridge Global Macro Advisors LLC and Drawbridge Global Macro GP LLC MANAGERS AND MEMBERS OF DRAWBRIDGE DSO SECURITIES LLC The name and principal occupation of each of the managers and members of Drawbridge DSO Securities LLC are listed below. The principal business address of each of the managers and members of Drawbridge DSO Securities LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Peter L. Briger Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Marc Furstein Chief Operating Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC John King Chief Financial Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC Dean Dakolias Chief Credit Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC MANAGERS AND MEMBERS OF DRAWBRIDGE SPECIAL OPPORTUNITIES FUND LTD. The name and principal occupation of each of the managers and members of Drawbridge Special Opportunities Fund Ltd. are listed below. The principal business address of each of the managers and members of Drawbridge Special Opportunities Fund Ltd. is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Kevin Treacy Chief Financial Officer of Drawbridge Global Macro Advisors LLC and Drawbridge Global Macro GP LLC Jayne Evett Director David Litton Director John Banks Director MANAGERS AND MEMBERS OF DRAWBRIDGE OSO SECURITIES LLC The name and principal occupation of each of the managers and members of Drawbridge OSO Securities LLC are listed below. The principal business address of each of the managers and members of Drawbridge OSO Securities LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Peter L. Briger Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Marc Furstein Chief Operating Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC John King Chief Financial Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC Dean Dakolias Chief Credit Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC MANAGERS AND MEMBERS OF DRAWBRIDGE SPECIAL OPPORTUNITIES GP LLC The name and principal occupation of each of the managers and members of Drawbridge Special Opportunities GP LLC are listed below. The principal business address of each of the managers and members of Drawbridge Special Opportunities GP LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Peter L. Briger Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Randal A. Nardone Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Marc Furstein Chief Operating Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC John King Chief Financial Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC Dean Dakolias Chief Credit Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC MANAGERS AND MEMBERS OF DRAWBRIDGE SPECIAL OPPORTUNITIES ADVISORS LLC The name and principal occupation of each of the managers and members of Drawbridge Special Opportunities Advisors LLC are listed below. The principal business address of each of the managers and members of Drawbridge Special Opportunities Advisors LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Peter L. Briger Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Randal A. Nardone Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Marc Furstein Chief Operating Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC John King Chief Financial Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC Dean Dakolias Chief Credit Officer of Drawbridge Special Opportunities Advisors LLC and Drawbridge Special Opportunities GP LLC MANAGERS AND MEMBERS OF FORTRESS INVESTMENT HOLDINGS LLC The name and principal occupation of each of the managers and members of Fortress Investment Holdings LLC are listed below. The principal business address of each of the managers and members of Fortress Investment Holdings LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Wesley R. Edens Chairman and Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Robert I. Kauffman Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Randal A. Nardone Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Peter L. Briger Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Michael E. Novogratz Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC MANAGERS AND MEMBERS OF FORTRESS PRINCIPAL INVESTMENT HOLDINGS II LLC The name and principal occupation of each of the managers and members of Fortress Principal Investment Holdings II LLC are listed below. The principal business address of each of the managers and members of Fortress Principal Investment Holdings II LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Wesley R. Edens Chairman and Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Robert I. Kauffman Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Randal A. Nardone Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Peter L. Briger Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Michael E. Novogratz Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC MANAGERS AND MEMBERS OF FORTRESS PRINCIPAL INVESTMENT HOLDINGS IV LLC The name and principal occupation of each of the managers and members of Fortress Principal Investment Holdings IV LLC are listed below. The principal business address of each of the managers and members of Fortress Principal Investment Holdings IV LLC is 1345 Avenue of the Americas, 46th Floor, New York, NY 10105. NAME PRINCIPAL OCCUPATION Wesley R. Edens Chairman and Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Robert I. Kauffman Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Randal A. Nardone Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Peter L. Briger Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC Michael E. Novogratz Member of Management Committee of Fortress Investment Group LLC and Fortress Investment Holdings LLC EX-1 2 jointfiling.txt EXHIBIT 1.1 Exhibit 1.1 JOINT FILING AGREEMENT This JOINT FILING AGREEMENT, dated as of December 7, 2005, is made by and between Drawbridge Global Macro Fund LP, a Delaware limited partnership ("Drawbridge Global LP"); Drawbridge Global Macro GP LLC, a Delaware limited liability company ("Drawbridge Global GP"); Drawbridge Global Macro Master Fund Ltd., a company organized under the laws of the Cayman Islands ("Drawbridge Master"); Drawbridge Global Macro Advisors LLC, a Delaware limited liability company ("Drawbridge Global Macro Advisors"); Drawbridge Global Macro Fund Ltd., a company organized under the laws of the Cayman Islands ("Drawbridge Global Ltd"); Drawbridge Global Opportunities LLC, a Delaware limited liability company ("Drawbridge Global Opportunities LLC"); Drawbridge Special Opportunities Fund LP, a Delaware limited partnership ("Drawbridge Special Opportunities LP"); Drawbridge DSO Securities LLC, a Delaware limited liability company ("Drawbridge DSO Securities LLC"); Drawbridge Special Opportunities Fund Ltd., a company organized under the laws of the Cayman Islands ("Drawbridge Special Opportunities Ltd"); Drawbridge OSO Securities LLC, a Delaware limited liability company ("Drawbridge OSO Securities LLC"); Drawbridge Special Opportunities GP LLC, a Delaware limited liability company ("Drawbridge Special Opportunities GP"); Drawbridge Special Opportunities Advisors LLC, a Delaware limited liability company ("Drawbridge Special Opportunities Advisors"); Fortress Investment Group LLC, a Delaware limited liability company ("FIG"); Fortress Investment Holdings LLC, a Delaware limited liability company ("FIH"); Fortress Principal Investment Holdings II LLC, a Delaware limited liability company ("FPIH II"); and Fortress Principal Investment Holdings IV LLC, a Delaware limited liability company ("FPIH IV"). Drawbridge Global LP, Drawbridge Global GP, Drawbridge Master, Drawbridge Global Macro Advisors, Drawbridge Global Ltd, Drawbridge Global Opportunities LLC, Drawbridge Special Opportunities LP, Drawbridge DSO Securities LLC, Drawbridge Special Opportunities Ltd, Drawbridge OSO Securities LLC, Drawbridge Special Opportunities GP, Drawbridge Special Opportunities Advisors, FIG, FIH, FPIH II, and FPIH IV collectively referred to herein as the "Parties" and each individually as a "Party." Pursuant to Rule 13d-1(k)(1)(iii) promulgated under the Securities Exchange Act of 1934, as amended, the Parties hereby acknowledge and agree that Schedule 13D is filed on behalf of each such Party and that all subsequent amendments to the Statement on Schedule 13D shall be filed on behalf of each of the Parties without the necessity of filing additional joint acquisition statements. The Parties hereby acknowledge that each Party shall be responsible for timely filing of such amendments, and for the completeness and accuracy of the information concerning such Party contained therein, but shall not be responsible for the completeness and accuracy of the information concerning any other Party, except to the extent that such Party knows or has reason to believe that such information is inaccurate. [signature pages follow] IN WITNESS WHEREOF, the Parties hereto have executed this Joint Filing Agreement as of the day and year first above written. DRAWBRIDGE GLOBAL MACRO FUND LP By: DRAWBRIDGE GLOBAL MACRO GP LLC its general partner By: /s/ Kevin Treacy ------------------------------------------------- Name: Kevin Treacy Title: Chief Financial Officer DRAWBRIDGE GLOBAL MACRO GP LLC By: /s/ Kevin Treacy ------------------------------------------------- Name: Kevin Treacy Title: Chief Financial Officer DRAWBRIDGE GLOBAL MACRO ADVISORS LLC By: /s/ Kevin Treacy ------------------------------------------------- Name: Kevin Treacy Title: Chief Financial Officer DRAWBRIDGE GLOBAL MACRO FUND LTD By: /s/ Kevin Treacy -------------------------------------------- Name: Kevin Treacy Title: Chief Financial Officer DRAWBRIDGE SPECIAL OPPORTUNITIES FUND LP By: DRAWBRIDGE SPECIAL OPPORTUNITIES GP LLC its general partner By: /s/ John King ------------------------------------------------- Name: John King Title: Chief Financial Officer DRAWBRIDGE SPECIAL OPPORTUNITIES ADVISORS LLC By: /s/ John King ------------------------------------------------- Name: John King Title: Chief Financial Officer DRAWBRIDGE GLOBAL MACRO MASTER FUND LTD. By: /s/ Kevin Treacy ------------------------------------------------- Name: Kevin Treacy Title: Chief Financial Officer DRAWBRIDGE GLOBAL OPPORTUNITIES LLC By: /s/ Kevin Treacy ------------------------------------------------- Name: Kevin Treacy Title: Chief Financial Officer DRAWBRIDGE SPECIAL OPPORTUNITIES LTD. By: /s/ John King ------------------------------------------------- Name: John King Title: Chief Financial Officer DRAWBRIDGE OSO SECURITIES LLC By: /s/ John King ------------------------------------------------- Name: John King Title: Chief Financial Officer DRAWBRIDGE DSO SECURITIES LLC By: /s/ John King ------------------------------------------------- Name: John King Title: Chief Financial Officer FORTRESS INVESTMENT GROUP LLC By: /s/ Peter L. Briger ------------------------------------------------- Name: Peter L. Briger Title: Authorized Person FORTRESS INVESTMENT HOLDINGS LLC By: /s/ Peter L. Briger ------------------------------------------------- Name: Peter L. Briger Title: Authorized Person FORTRESS PRINCIPAL INVESTMENT HOLDINGS II LLC By: /s/ Peter L. Briger ------------------------------------------------- Name: Peter L. Briger Title: Authorized Person FORTRESS PRINCIPAL INVESTMENT HOLDINGS IV LLC By: /s/ Peter L. Briger ------------------------------------------------- Name: Peter L. Briger Title: Authorized Person EX-1 3 drawltr.txt EXHIBIT 1.2 - LETTER Exhibit 1.2 DRAWBRIDGE SPECIAL OPPORTUNITIES ADVISORS LLC 1345 AVENUE OF THE AMERICAS 46TH FLOOR NEW YORK, NY 10105 December 7, 2005 Dr. E. Linn Draper, Jr. Chairman of the Board Michael J. Hanson President and Chief Executive Officer Northwestern Corporation 125 South Dakota Ave., Suite 1100 Sioux Falls, SD 57104 Gentlemen: Affiliates of Drawbridge Special Opportunities Advisors LLC ("Drawbridge") own 1,898,406 common shares of Northwestern Corp. ("Northwestern" or "the Company"), or approximately 5.3% of the Company's total issued and outstanding shares (excluding warrants). We have reviewed the Company's announcement from December 6. While we welcome the Board's decision to evaluate all strategic alternatives in the interest of maximizing shareholder value, the adoption of a shareholders' rights plan has raised some serious concerns for us. These concerns stem from what we perceive as reticence by the Board to seriously consider two separate proposals for strategic combinations involving the Company, despite shareholders' clear preference for a strategic combination, and against Northwestern's stand-alone plan. In our view, the adoption of a shareholders' rights plan serves merely to entrench existing management, and it is the shareholders who must ultimately determine what is in their best interest. The Company first articulated its stand-alone plan on November 9, as part of its 3Q2005 earnings release. It announced that the Board had approved an increase in the common stock dividend and the institution of a share buyback program. However, despite this, and the release of 2006 earnings guidance which is 20%-35% higher than that expected for 2005, in the next five trading sessions the stock moved down about 4% from its November 8 close. It wasn't until Black Hills Corporation's ("Black Hills") intentions to seek a merger with Northwestern, which contemplated paying Northwestern shareholders between $33 and $35 per share, became public on November 23, that the stock finally made a significant upward move, to levels which, in our opinion at least, begin to approach fair value. We have met with senior management of Black Hills, have analyzed publicly available information relating to the proposed transaction, and strongly believe that it presents a compelling alternative to Northwestern's stand-alone plan. We feel that a Black Hills-Northwestern combination makes good strategic sense, and that the consideration to Northwestern shareholders, as proposed by Black Hills, is attractive. It has always been our intention, in light of the Company's recent emergence from Chapter 11, to give the Board ample opportunity to return Northwestern to a normalized operating and financial posture. However, we are increasingly skeptical that the Board's stand-alone plan will meaningfully enhance shareholder value, and believe that steps should be taken to consummate what we view as a viable and attractive deal with Black Hills. Specifically, we would like to see the Board, within the next week, execute a confidentiality agreement and begin good faith discussions with Black Hills, with the aim of negotiating a definitive merger agreement by the end of January 2006. There is, in our view, no reason not to take these steps, and we can only interpret your failure to do so within a reasonably short time frame as evidence that, despite today's announcement, you are not interested in assessing legitimate offers for the Company in order to determine whether they are in the best interests of the Company's shareholders. This is a very serious matter to us, and we would appreciate the Board according it the attention it deserves. Thank you. Sincerely, /s/ Robert J. Fraley - -------------------- Robert J. Fraley Managing Director Drawbridge Special Opportunities Advisors LLC -----END PRIVACY-ENHANCED MESSAGE-----