-----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, J7UjKfd7C0Zf1ORM+Z4Ic1Sdxm0oL4Zm+vJUXBMc5t5ATaSPp9kVN/BhiaUtaN6W BNwshm/nRF2bBodUYdyu1w== 0000909518-98-000584.txt : 19980903 0000909518-98-000584.hdr.sgml : 19980903 ACCESSION NUMBER: 0000909518-98-000584 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19980902 SROS: NONE GROUP MEMBERS: ALFRED D. KINGSLEY GROUP MEMBERS: GARY K. DUBERSTEIN GROUP MEMBERS: GREENBELT CORP. GROUP MEMBERS: GREENHOUSE PARTNERS L.P. GROUP MEMBERS: GREENHUT OVERSEAS, L.L.C. GROUP MEMBERS: GREENHUT, L.L.C. GROUP MEMBERS: GREENSEA OFFSHORE, L.P. GROUP MEMBERS: GREENTREE PARTNERS L.P. GROUP MEMBERS: GREENWAY PARTNERS L P SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: INLAND STEEL INDUSTRIES INC /DE/ CENTRAL INDEX KEY: 0000790528 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 363425828 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-37208 FILM NUMBER: 98703209 BUSINESS ADDRESS: STREET 1: 30 W MONROE ST CITY: CHICAGO STATE: IL ZIP: 60603 BUSINESS PHONE: 3123460300 MAIL ADDRESS: STREET 1: 30 WEST MONROE STREET STREET 2: 16TH FLOOR CITY: CHICAGO STATE: IL ZIP: 60603 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GREENWAY PARTNERS L P CENTRAL INDEX KEY: 0000938356 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 277 PARK AVE 27TH FL CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2123505100 MAIL ADDRESS: STREET 1: 277 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 SC 13D/A 1 ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 ---------- (Amendment No. 7) INLAND STEEL INDUSTRIES, INC. (Name of Issuer) Common Stock, $1.00 par value per share (Title of class of securities) 457472108 (CUSIP number) Gary K. Duberstein, Esq. Greenway Partners, L.P. 277 Park Avenue, 27th Floor New York, New York 10172 (212) 350-5100 (Name, address and telephone number of person authorized to receive notices and communications) August 24, 1998 (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [_]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following page(s)) (Page 1 of 14 Pages) ================================================================================ NYFS11...:\92\56392\0003\1751\SCH9018S.550 - ----------------------------------- ---------------------------------- CUSIP No. 457472108 13D Page 2 of 14 Pages - ----------------------------------- ---------------------------------- - ------------------ ------------------------------------------------------------- 1 NAME OF REPORTING PERSON GREENWAY PARTNERS, L.P. I.R.S. IDENTIFICATION NO. 13-3714238 OF ABOVE PERSON (ENTITIES ONLY) - ------------------ ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ------------------ ------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------- 4 SOURCE OF FUNDS: WC, OO - ------------------ ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------------ ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 307,051 SHARES ------- -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 307,051 REPORTING ------- -------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ------------------ ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 307,051 - ------------------ ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------------ ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.3% - ------------------ ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ------------------ ------------------------------------------------------------- 2 - ----------------------------------- ---------------------------------- CUSIP No. 457472108 13D Page 3 of 14 Pages - ----------------------------------- ---------------------------------- - ------------------ ------------------------------------------------------------- 1 NAME OF REPORTING PERSON GREENTREE PARTNERS, L.P. I.R.S. IDENTIFICATION NO. 13-3752875 OF ABOVE PERSON (ENTITIES ONLY) - ------------------ ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ------------------ ------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------- 4 SOURCE OF FUNDS: WC, OO - ------------------ ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------------ ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 131,329 SHARES ------- -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 131,329 REPORTING ------- -------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ------------------ ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 131,329 - ------------------ ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------------ ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.6% - ------------------ ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ------------------ ------------------------------------------------------------- 3 - ----------------------------------- ---------------------------------- CUSIP No. 457472108 13D Page 4 of 14 Pages - ----------------------------------- ---------------------------------- - ------------------ ------------------------------------------------------------- 1 NAME OF REPORTING PERSON GREENHOUSE PARTNERS, L.P. I.R.S. IDENTIFICATION NO. 13-3793447 OF ABOVE PERSON (ENTITIES ONLY) - ------------------ ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ------------------ ------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------- 4 SOURCE OF FUNDS: WC, AF, OO - ------------------ ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------------ ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------- -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 307,051 OWNED BY ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------- -------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 307,051 - ------------------ ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 307,051 - ------------------ ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------------ ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.3% - ------------------ ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ------------------ ------------------------------------------------------------- 4 - ----------------------------------- ---------------------------------- CUSIP No. 457472108 13D Page 5 of 14 Pages - ----------------------------------- ---------------------------------- - ------------------ ------------------------------------------------------------- 1 NAME OF REPORTING PERSON GREENHUT, L.L.C. I.R.S. IDENTIFICATION NO. 13-3793450 OF ABOVE PERSON (ENTITIES ONLY) - ------------------ ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ------------------ ------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------- 4 SOURCE OF FUNDS: WC, AF, OO - ------------------ ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------------ ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------- -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 131,329 OWNED BY ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------- -------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 131,329 - ------------------ ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 131,329 - ------------------ ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------------ ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.6% - ------------------ ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - ------------------ ------------------------------------------------------------- 5 - ----------------------------------- ---------------------------------- CUSIP No. 457472108 13D Page 6 of 14 Pages - ----------------------------------- ---------------------------------- - ------------------ ------------------------------------------------------------- 1 NAME OF REPORTING PERSON GREENBELT CORP. I.R.S. IDENTIFICATION NO. 13-3791931 OF ABOVE PERSON (ENTITIES ONLY) - ------------------ ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ------------------ ------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------------ ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------------ ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 1,146,483 SHARES ------- -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 1,146,483 REPORTING ------- -------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ------------------ ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,146,483 - ------------------ ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------------ ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.9% - ------------------ ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ------------------ ------------------------------------------------------------- 6 - ----------------------------------- ---------------------------------- CUSIP No. 457472108 13D Page 7 of 14 Pages - ----------------------------------- ---------------------------------- - ------------------ ------------------------------------------------------------- 1 NAME OF REPORTING PERSON GREENSEA OFFSHORE, L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------------ ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ------------------ ------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------- 4 SOURCE OF FUNDS: WC, OO - ------------------ ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------------ ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Cayman Islands - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 233,323 SHARES ------- -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 233,323 REPORTING ------- -------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ------------------ ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 233,323 - ------------------ ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------------ ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.0% - ------------------ ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ------------------ ------------------------------------------------------------- 7 - ----------------------------------- ---------------------------------- CUSIP No. 457472108 13D Page 8 of 14 Pages - ----------------------------------- ---------------------------------- - ------------------ ------------------------------------------------------------- 1 NAME OF REPORTING PERSON GREENHUT OVERSEAS, L.L.C. I.R.S. IDENTIFICATION NO. 13-3868906 OF ABOVE PERSON (ENTITIES ONLY) - ------------------ ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ------------------ ------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------- 4 SOURCE OF FUNDS: WC, AF, OO - ------------------ ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------------ ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------- -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 233,323 OWNED BY ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------- -------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 233,323 - ------------------ ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 233,323 - ------------------ ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------------ ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.0% - ------------------ ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - ------------------ ------------------------------------------------------------- 8 - ----------------------------------- ---------------------------------- CUSIP No. 457472108 13D Page 9 of 14 Pages - ----------------------------------- ---------------------------------- - ------------------ ------------------------------------------------------------- 1 NAME OF REPORTING PERSON ALFRED D. KINGSLEY I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) - ------------------ ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ------------------ ------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------- 4 SOURCE OF FUNDS: PF, AF, OO - ------------------ ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------------ ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 10,358 SHARES ------- -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 1,818,186 OWNED BY ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 10,358 REPORTING ------- -------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,818,186 - ------------------ ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,828,544 - ------------------ ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------------ ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 7.7% - ------------------ ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ------------------ ------------------------------------------------------------- 9 - ----------------------------------- ---------------------------------- CUSIP No. 457472108 13D Page 10 of 14 Pages - ----------------------------------- ---------------------------------- - ------------------ ------------------------------------------------------------- 1 NAME OF REPORTING PERSON GARY K. DUBERSTEIN I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) - ------------------ ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ------------------ ------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------- 4 SOURCE OF FUNDS: PF, AF, OO - ------------------ ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------------ ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------- -------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 1,818,186 OWNED BY ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------- -------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,818,186 - ------------------ ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,818,186 - ------------------ ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------------ ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 7.7% - ------------------ ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ------------------ ------------------------------------------------------------- 10 This Amendment No. 7 amends the Statement on Schedule 13D (the "Schedule 13D") filed on February 21, 1997 by and on behalf of Greenway Partners, L.P. ("Greenway"), Greentree Partners, L.P. ("Greentree"), Greenhouse Partners, L.P. ("Greenhouse"), Greenhut, L.L.C. ("Greenhut"), Greenbelt Corp. ("Greenbelt"), Greensea Offshore, L.P. ("Greensea"), Greenhut Overseas, L.L.C. ("Greenhut Overseas"), Alfred D. Kingsley ("Kingsley") and Gary K. Duberstein ("Duberstein"; and together with the foregoing persons, the "Reporting Persons"). Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Schedule 13D. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION Since the filing of Amendment No. 6 to the Schedule 13D, Greenbelt purchased an aggregate of 59,000 Shares for total consideration (including brokerage commissions) of $1,133,481 derived from capital in the accounts that it manages. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a) As of the date of this Statement, the Reporting Persons beneficially owned in the aggregate 1,828,544 Shares constituting 7.7% of the outstanding Shares (the percentage of Shares owned being based upon approximately 23,600,000 Shares outstanding on August 24, 1998 as set forth in a press release issued by the Company on August 24, 1998). The Reporting Persons may be deemed to have direct beneficial ownership of Shares as follows: Approximate Number of Percentage of Name Shares Outstanding Shares ---- -------- ------------------ Greenway 307,051 1.3% Greentree 131,329 0.6% Greenbelt 1,146,483 4.9% Greensea 233,323 1.0% Alfred D. Kingsley 10,358 0.0% Greenhouse, as the general partner of Greenway, may be deemed to own beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) Shares which Greenway may be deemed to possess direct beneficial ownership. Each of Messrs. Kingsley and Duberstein, as general partners of Greenhouse, may be deemed to beneficially own Shares which Greenhouse may be deemed to beneficially own. Each of Messrs. Kingsley and Duberstein disclaim beneficial ownership of such Shares for all other purposes. Greenhut as the general partner of Greentree may be deemed to own beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) Shares which Greentree may be deemed to possess direct beneficial ownership. Each of Messrs. Kingsley and Duberstein, as members of Greenhut, may be deemed to beneficially own Shares which Greenhut may be deemed to beneficially own. Each of Messrs. Kingsley and Duberstein disclaim beneficial ownership of such Shares for all other purposes. Greenhut Overseas, as the investment general partner of Greensea, may be deemed to own beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) Shares which Greensea may be deemed to possess direct beneficial ownership. Each of Messrs. Kingsley and Duberstein, as members of Greenhut Overseas, may be deemed to beneficially own Shares which Greenhut 11 Overseas may be deemed to beneficially own. Each of Messrs. Kingsley and Duberstein disclaim beneficial ownership of such Shares for all other purposes. Greenbelt has direct beneficial ownership of the Shares in the accounts which it manages. In addition, Greenbelt is the investment advisor for Greenland Investment Company Limited, a Cayman Islands company ("Greenland"). In such capacity, Greenbelt has the right to vote and direct the disposition of the 192,037 Shares held by Greenland and, consequently, has direct beneficial ownership of such Shares. Substantially all of the equity interests in Greenland are owned by Strategic Investment Partners Limited ("SIPL"). Because SIPL has the right to elect to terminate its investment in Greenland upon less than 60 days' notice and, upon such termination, all securities held by Greenland would be sold by Greenland or, with SIPL's consent, distributed to SIPL in kind, SIPL could be deemed to be the beneficial owner of the Shares held by Greenland. Information concerning SIPL and the identity and background of certain individuals and entities related thereto is set forth on Exhibit 7 to Amendment No. 4 to the Schedule 13D and incorporated herein by reference. Each of the Messrs. Kingsley and Duberstein, as executive officers and directors of Greenbelt may be deemed to beneficially own Shares which Greenbelt beneficially owns. Each of Messrs. Kingsley and Duberstein disclaim beneficial ownership of such Shares for all other purposes. (b) Greenway has the sole power to vote or direct the vote of 307,051 Shares and the sole power to dispose or to direct the disposition of such Shares. Greenhouse and Messrs. Kingsley and Duberstein may be deemed to share with Greenway the power to vote or to direct the vote and dispose or to direct the disposition of such Shares. Greentree has the sole power to vote or direct the vote of 131,329 Shares and the sole power to dispose or direct the disposition of such Shares. Greenhut and Messrs. Kingsley and Duberstein may be deemed to share with Greentree the power to vote or to direct the vote and to dispose or to direct the disposition of such Shares. Greensea has the sole power to vote or direct the vote of 233,323 Shares and the sole power to dispose or direct the disposition of such Shares. Greenhut Overseas and Messrs. Kingsley and Duberstein may be deemed to share with Greensea the power to vote or to direct the vote and to dispose or to direct the disposition of such Shares. Greenbelt has the sole power to vote or direct the vote of 954,446 Shares held in managed accounts and the 192,037 Shares held by Greenland, and, except as described in Item 5(a) with respect to Greenland, the sole power to dispose or direct the disposition of all such Shares. Messrs. Kingsley and Duberstein may be deemed to share with Greenbelt the power to direct the vote and to dispose or to direct the disposition of such Shares. Mr. Kingsley also has the sole power to vote or direct the vote of 10,358 Shares and the sole power to dispose or direct the disposition of such Shares. (c) Information concerning transactions in the Shares by the Reporting Persons during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, is set forth in Exhibit 14 attached hereto, which is incorporated herein by reference. (d) No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares, except the dividends from, or proceeds from the sale of Shares in each 12 respective account managed by Greenbelt or held by Greenland will be delivered into each such respective account or Greenland, as the case may be. Neither any such individual account nor Greenland has an interest in more than five percent of the class of outstanding Shares. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS The following Exhibits are filed herewith: 14. Information concerning transactions in the Shares effected by the Reporting Persons in the last sixty days or since the most recent filing on Schedule 13D, whichever is less. 13 SIGNATURES After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information contained in this Statement is true, complete and correct. Dated: September 1, 1998 GREENHOUSE PARTNERS, L.P. GREENWAY PARTNERS, L.P. By: Greenhouse Partners, L.P., its general partner By: /s/ Gary K. Duberstein ------------------------------------ Gary K. Duberstein, general By: /s/ Gary K. Duberstein partner ------------------------------- Gary K. Duberstein, general partner GREENHUT, L.L.C. GREENTREE PARTNERS, L.P. By: Greenhut, L.L.C., its general partner By: /s/ Gary K. Duberstein ------------------------------------ Gary K. Duberstein, Member By: /s/ Gary K. Duberstein ------------------------------- Gary K. Duberstein, Member GREENHUT OVERSEAS, L.L.C. GREENSEA OFFSHORE, L.P. By: Greenhut Overseas, L.L.C., its investment general partner By: /s/ Gary K. Duberstein ------------------------------------ Gary K. Duberstein, Member By: /s/ Gary K. Duberstein ------------------------------- Gary K. Duberstein, Member GREENBELT CORP. By: /s/ Alfred D. Kingsley ------------------------------- Alfred D. Kingsley, President /s/ Alfred D. Kingsley ------------------------------- ALFRED D. KINGSLEY /s/ Gary K. Duberstein ------------------------------- GARY K. DUBERSTEIN 14 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION - ----------- ----------- 14 Information concerning transactions in the Shares effected by the Reporting Persons in the last sixty days or since the most recent filing on Schedule 13D, whichever is less. EX-14 2 Exhibit 14 TRANSACTION IN SHARES OF THE COMPANY The Reporting Persons engaged in the following transactions in Shares of the Company during the past 60 days or since the most recent filing on Schedule 13D, whichever is less. All purchases of Shares were on the New York Stock Exchange. All sales were to the Company pursuant to the Self-Tender Offer. Reporting Person With Direct Price Per Share Beneficial Date of Type of Number of (Excluding Ownership Transaction Transaction Shares Commission) --------- ----------- ----------- ------ ----------- Greenbelt 8/31/98 purchase 19,000 $19.0789 Greenbelt 8/31/98 purchase 15,000 $19.3958 Greenbelt 9/1/98 purchase 25,000 $19.1250 Greenway 8/24/98 sale 522,949 $30.0000 Greentree 8/24/98 sale 223,671 $30.0000 Greenbelt 8/24/98 sale 1,852,117 $30.0000 Greensea 8/24/98 sale 397,377 $30.0000 Kingsley 8/24/98 sale 17,642 $30.0000 NYFS11...:\92\56392\0003\1751\SCH9018S.550 -----END PRIVACY-ENHANCED MESSAGE-----