0000942618-05-000012.txt : 20120618 0000942618-05-000012.hdr.sgml : 20120618 20050324134505 ACCESSION NUMBER: 0000942618-05-000012 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050324 DATE AS OF CHANGE: 20050324 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SPARTAN STORES INC CENTRAL INDEX KEY: 0000877422 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-GROCERIES & GENERAL LINE [5141] IRS NUMBER: 380593940 STATE OF INCORPORATION: MI FISCAL YEAR END: 0329 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79856 FILM NUMBER: 05701318 BUSINESS ADDRESS: STREET 1: 850 76TH ST SW STREET 2: P O BOX 8700 CITY: GRAND RAPIDS STATE: MI ZIP: 49518 BUSINESS PHONE: 6168782000 MAIL ADDRESS: STREET 1: 850 76TH ST SW STREET 2: PO BOX 8700 CITY: GRAND RAPIDS STATE: MI ZIP: 49518 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LOEB PARTNERS CORP CENTRAL INDEX KEY: 0000942618 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 61 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10006 MAIL ADDRESS: STREET 1: 61 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10006 SC 13D/A 1 spartan2.txt UNITED STATES SECURITIES & EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* Spartan Stores, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 846822104 (CUSIP Number) Michael Emanuel, Esq. c/o Loeb Partners Corporation 61 Broadway, N.Y., N.Y., 10006 (212) 483-7047 (Name, address and Telephone Number of Person Authorized to Receive Notices and Communications) March 22, 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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ]. Check the following box if a fee is being paid with statement [ ]. (A fee is not required only if the following reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described is Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remained 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. 846822104 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Loeb Partners Corporation 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC, O 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ] PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF 7 SOLE VOTING POWER SHARES 49,409 Shares of Common stock BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 38,095 Shares of Common stock EACH 9 SOLE DISPOSITIVE POWER REPORTING 49,409 Shares of Common stock PERSON WITH 10 SHARED DISPOSITIVE POWER 38,095 Shares of Common stock 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 87,504 Shares of Common stock 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.43% 14 TYPE OF REPORTING PERSON* CO, BD, IA SCHEDULE 13D CUSIP NO. 846822104 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Loeb Arbitrage Fund 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] 3 SEC USE ONLY 4 SOURCE OF FUNDS WC, O 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED [ ] PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York NUMBER OF 7 SOLE VOTING POWER SHARES 1,070,041 Shares of Common stock BENEFICIALLY 8 SHARED VOTING POWER OWNED BY ----- EACH 9 SOLE DISPOSITIVE POWER REPORTING 1,070,041 Shares of Common stock PERSON WITH 10 SHARED DISPOSITIVE POWER ----- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,070,041 Shares of Common stock 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.22% 14 TYPE OF REPORTING PERSON* PN, BD SCHEDULE 13D CUSIP NO. 846822104 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Loeb Offshore Fund Ltd. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC, O 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ] PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF 7 SOLE VOTING POWER SHARES 99,737 Shares of Common stock BENEFICIALLY 8 SHARED VOTING POWER OWNED BY -------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 99,737 Shares of Common stock PERSON WITH 10 SHARED DISPOSITIVE POWER ------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 99,737 Shares of Common stock 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.49% 14 TYPE OF REPORTING PERSON* CO SCHEDULE 13D CUSIP NO. 846822104 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Loeb Marathon Fund LP 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC, O 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ] PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF 7 SOLE VOTING POWER SHARES 150,845 Shares of Common stock BENEFICIALLY 8 SHARED VOTING POWER OWNED BY ----- EACH 9 SOLE DISPOSITIVE POWER REPORTING 150,845 Shares of Common stock PERSON WITH 10 SHARED DISPOSITIVE POWER ----- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 150,845 Shares of Common stock 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.74% 14 TYPE OF REPORTING PERSON* PN SCHEDULE 13D CUSIP NO. 846822104 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Loeb Marathon Offshore Fund, Ltd. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC, O 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ] PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF 7 SOLE VOTING POWER SHARES 54,387 Shares of Common stock BENEFICIALLY 8 SHARED VOTING POWER OWNED BY ----- EACH 9 SOLE DISPOSITIVE POWER REPORTING 54,387 Shares of Common stock PERSON WITH 10 SHARED DISPOSITIVE POWER ----- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 54,387 Shares of Common stock 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.27% 14 TYPE OF REPORTING PERSON* CO Item 1. Security and Issuer. ------ ------------------- This statement refers to the Common Stock of Spartan Stores, Inc., 850 76th Street Southwest, Grand Rapids, MI. 49518. Item 2. Identity and Background. ------ ----------------------- Loeb Arbitrage Fund ("LAF"), 61 Broadway, New York, New York, 10006, is a New York limited partnership. It is a registered broker/dealer. Its general partner is Loeb Arbitrage Management, Inc., ("LAM"), a Delaware corporation, with the same address. Its President is Gideon J. King. The other officers of LAM are Thomas L. Kempner, Chairman of the Board, President, Peter A. Tcherepnine, Vice President, Edward J. Campbell, Vice President. Loeb Partners Corporation ("LPC"), 61 Broadway, New York, New York, 10006, is a Delaware corporation. It is a registered broker/dealer and a registered investment adviser. Thomas L. Kempner is its President and a director and its Chief Executive Officer. Norman N. Mintz is a Vice President and also a director. Gideon J. King is Executive Vice President. Loeb Holding Corporation ("LHC"), a Maryland corporation, 61 Broadway, New York, New York, 10006 is the sole stockholder of LAM and LPC. Thomas L. Kempner is its President and a director as well as its Chief Executive Officer and majority stockholder. Norman N. Mintz and Peter A. Tcherepnine are also directors. Loeb Offshore Fund, Ltd., ("LOF") is a Cayman Islands exempted company. Loeb Offshore Management, LLC ("LOM") is a Delaware limited liability company, a registered investment adviser and is wholly owned by Loeb Holding Corporation. It is the investment adviser of LOF. Gideon J. King and Thomas L. Kempner are Directors of LOF and Managers of LOM. Loeb Marathon Fund ("LMF") is a Delaware limited partnership whose general partner is LAM. Loeb Marathon Offshore Fund Ltd. ("LMOF") is a Cayman Islands exempted company. LOM is the investment adviser of LMOF. All of the individuals named are United States citizens. None have been, within the last five years, convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding been or are subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws. Item 3. Source and Amount of Funds or Other Compensation. ------ ------------------------------------------------ Shares of Common Stock were acquired by LAF, LPC, LMF, LOF and LMOF in margin accounts maintained with Bear Stearns Securities Corp. Item 4. Purpose of Transaction. ------ ---------------------- LAF, LPC*, LMF, LOF and LMOF ("Loeb") have acquired shares of Common Stock for investment purposes. Loeb reserves the right, consistent with applicable law, to acquire additional securities of the Issuer (whether through open market purchases, block trades, private acquisitions, tender or exchange offers or otherwise). Loeb intends to review its investment in the Issuer on a continuing basis and may engage in discussions with management or the Board of Directors of the Issuer concerning the business, operations and future plans of the Issuer. Loeb's current position with respect to the Issuer was previously reflected in a letter that was sent to the Issuer's Board of Directors, a copy of which was included in a previous filing. Depending on various factors, including, without limitation, the Issuer's financial position and investment strategy, the price levels of the Common Stock, conditions in the securities markets and general economic and industry conditions, Loeb may in the future take such actions with respect to its investment in the Issuer as it deems appropriate including, without limitation, seeking Board representation, making proposals to the Issuer concerning the capitalization and operations of the Issuer, purchasing additional Common Stock, selling some or all of its Common Stock, engaging in short selling of or any hedging or similar transaction with respect to the Common Stock or changing its intention partially or entirely with respect to any and all matters referred to in Item 4. Item 5. Interest in Securities of the Issuer. ------ ------------------------------------ (a) The persons reporting hereby owned the following shares of Common Stock as of March 22, 2005. Shares of Common Stock Loeb Arbitrage Fund 1,070,041 Loeb Partners Corporation* 85,504 Loeb Offshore Fund Ltd. 99,737 Loeb Marathon Fund LP 150,845 Loeb Marathon Offshore Fund, Ltd. 54,387 --------- 1,462,514 The total shares of Common Stock constitutes 7.13% of the 20,516,000 outstanding shares of Common Stock as reported by the issuer. ------------------------- *Including 40,450 shares of Common Stock purchased and 2,355 sold for the account of one customer of Loeb Partners Corporation as to which it has investment discretion. (b) See paragraph (a) above. (c) The following purchases of Common Stock have been made in the last sixty (60) days by the following: Purchases of Common Stock Holder Date Shares Average Price Loeb Partners Corp.* 12-28-04 159 $5.82 12-29-04 735 6.08 12-30-04 798 6.28 12-31-04 1020 6.51 12-31-04 798 6.29 01-03-05 1470 6.50 01-04-05 350 6.36 01-13-05 1682 6.92 01-14-05 1198 7.01 01-14-05 109 6.38 01-18-05 2705 7.68 01-19-05 2705 7.68 01-20-05 3375 7.40 01-21-05 1682 7.49 01-24-05 1688 7.04 01-26-05 443 6.95 01-27-05 3209 7.41 01-28-05 4407 7.74 01-31-05 3186 7.98 02-01-05 3677 8.28 02-02-05 4814 8.65 02-03-05 2581 8.82 02-04-05 6710 9.01 02-07-05 2575 9.24 02-09-05 3378 8.92 02-10-05 1204 8.81 02-11-05 1051 8.85 02-15-05 167 9.30 02-16-05 288 9.26 02-17-05 206 9.94 02-18-05 1181 9.86 02-18-05 590 9.81 02-22-05 308 9.89 02-23-05 171 9.89 02-24-05 806 9.97 02-25-05 2522 9.99 02-28-05 524 10.08 03-01-05 388 10.41 03-02-05 5 10.75 03-07-05 4490 10.92 03-07-05 23 10.67 03-08-05 55 10.66 03-08-05 12 10.67 03-10-05 800 10.69 03-11-05 7638 9.90 03-11-05 308 10.46 03-14-05 13 10.26 03-16-05 801 10.91 03-17-05 10758 10.95 03-18-05 643 11.09 03-21-05 1126 11.14 03-22-05 727 11.09 Holder Date Shares Average Price Loeb Arbitrage Fund 12-28-04 1950 $5.820 12-29-04 8978 6.076 12-30-04 9747 6.283 12-31-04 12466 6.505 12-31-04 9747 6.286 01-03-05 17955 6.505 01-04-05 4275 6.364 01-13-05 20550 6.915 01-14-05 17678 7.014 01-14-05 1319 6.378 01-18-05 34086 7.678 01-19-05 34086 7.680 01-20-05 42625 7.398 01-21-05 21387 7.491 01-24-05 21312 7.045 01-26-05 5590 6.952 01-27-05 40543 7.408 01-28-05 55669 7.735 01-31-05 40238 7.983 02-01-05 46443 8.281 02-02-05 80039 8.653 02-03-05 33943 8.818 02-04-05 49889 9.011 02-07-05 62217 9.240 02-08-05 14217 9.168 02-09-05 47140 8.915 02-10-05 16596 8.810 02-11-05 14659 8.852 02-11-05 200 8.783 02-14-05 27147 9.341 02-14-05 409 9.174 02-15-05 2344 9.302 02-16-05 4027 9.259 02-17-05 2875 9.944 02-18-05 16477 9.863 02-18-05 8239 9.813 02-22-05 4290 9.888 02-23-05 2372 9.889 02-24-05 11253 9.966 02-25-05 35186 9.986 02-28-05 7299 10.079 03-01-05 5406 10.410 03-02-05 4596 10.412 03-02-05 79 10.750 03-07-05 62688 10.924 03-07-05 327 10.672 03-08-05 773 10.660 03-10-05 11170 10.691 03-11-05 98027 9.905 03-11-05 4291 10.450 03-14-05 171 10.260 03-16-05 1169 10.420 03-07-05 3343 10.954 03-18-05 7887 11.086 03-21-05 13797 11.135 03-22-05 8915 11.093 Holder Date Shares Average Price Loeb Offshore Fund 12-28-04 171 $5.82 12-29-04 787 6.08 12-30-04 855 6.28 12-31-04 1094 6.51 12-31-04 855 6.29 01-03-05 1575 6.50 01-04-05 375 6.36 01-13-05 1802 6.92 01-14-05 2124 7.01 01-14-05 115 6.38 01-18-05 3209 7.68 01-19-05 3209 7.68 01-20-05 4000 7.40 01-21-05 2006 7.49 01-24-05 2000 7.04 01-26-05 525 6.95 01-27-05 3805 7.41 01-28-05 5224 7.74 01-31-05 3776 7.98 02-01-05 4358 8.28 02-02-05 7378 8.65 02-03-05 3176 8.82 02-04-05 1750 9.01 02-07-05 8806 9.24 02-08-05 1482 9.16 02-09-05 4411 8.92 02-10-05 1571 8.81 02-11-05 1372 8.85 02-14-05 2370 9.34 02-14-05 36 9.17 02-15-05 219 9.30 02-16-05 377 9.26 02-17-05 269 9.94 02-18-05 771 9.86 02-18-05 1542 9.81 02-22-05 402 9.88 02-23-05 222 9.88 02-24-05 1053 9.96 02-25-05 3292 9.98 02-28-05 683 10.07 03-01-05 506 10.41 03-02-05 7 10.75 03-07-05 5864 10.92 03-07-05 31 10.67 03-08-05 72 10.66 03-10-05 1050 10.69 03-11-05 9149 9.90 03-11-05 401 10.46 03-14-05 16 10.26 03-16-05 1045 10.90 03-18-05 720 11.08 03-21-05 1259 11.13 03-22-05 813 11.09 Holder Date Shares Average Price Loeb Marathon Fund 12-28-04 890 $5.82 12-29-04 4099 6.08 12-30-04 4988 6.28 12-31-04 4988 6.51 12-31-04 5771 6.29 01-03-05 8312 6.50 01-04-05 2969 6.36 01-05-05 5129 6.41 01-06-05 934 6.41 01-10-05 4398 6.21 01-11-05 1759 6.36 01-11-05 10628 6.37 01-12-05 1349 6.51 01-12-05 10528 6.37 01-13-05 222 6.92 01-14-05 900 7.01 01-14-05 8985 6.38 01-18-05 6425 7.68 01-19-05 6425 7.68 01-20-05 6428 7.40 01-21-05 4821 7.49 01-24-05 6046 7.04 01-25-05 844 7.06 01-26-05 4215 6.95 01-27-05 22458 7.41 02-01-05 779 8.28 02-02-05 1325 8.65 02-04-05 836 9.01 02-07-05 1045 9.24 02-08-05 226 9.16 02-09-05 787 8.92 02-10-05 5002 8.81 02-11-05 4432 8.85 02-14-05 4241 9.34 02-14-05 64 9.17 02-15-05 821 9.30 02-16-05 286 9.26 02-17-05 462 9.94 02-18-05 281 9.86 02-18-05 561 9.81 02-24-05 1255 9.96 02-25-05 15135 9.98 02-28-05 106 10.07 02-28-05 387 9.98 02-28-05 38 10.07 03-01-05 300 10.41 03-02-05 810 10.41 03-07-05 3674 10.92 03-07-05 51 10.67 03-08-05 74 10.66 03-10-05 734 10.69 03-10-05 58 10.92 03-11-05 1470 9.90 03-16-05 734 10.90 03-17-05 717 10.95 03-18-05 514 11.08 03-21-05 895 11.13 03-22-05 578 11.09 Holder Date Shares Average Price Loeb Marathon Offshore 12-28-04 630 $5.82 Fund 12-29-04 2901 6.08 12-30-04 2612 6.28 12-31-05 3949 6.51 12-31-04 2612 6.29 01-03-05 5688 6.50 01-04-05 2031 6.36 01-05-05 4871 6.41 01-06-05 3937 6.41 01-10-05 3102 6.21 01-11-05 1241 6.36 01-13-05 1581 6.91 01-14-05 500 7.01 01-18-05 3575 7.68 01-19-05 3575 7.68 01-20-05 3572 7.40 01-21-05 2679 7.49 01-24-05 3360 7.04 01-26-05 2342 6.95 02-01-05 332 8.28 02-01-05 1739 8.31 02-02-05 557 8.65 02-04-05 356 9.01 02-07-05 457 9.24 02-08-05 95 9.16 02-09-05 334 8.92 02-10-05 2128 8.81 02-11-05 1886 8.85 02-14-05 1804 9.34 02-14-05 26 9.17 02-15-05 349 9.26 02-17-05 188 9.94 02-18-05 119 9.86 02-18-05 239 9.81 02-23-05 15135 9.89 02-24-05 533 9.97 02-25-05 387 9.99 02-28-05 38 10.08 03-07-05 1326 10.92 03-07-05 19 10.67 03-08-05 26 10.66 03-10-05 1268 10.92 03-10-05 266 10.69 03-11-05 530 9.90 03-16-05 266 10.90 03-17-05 283 10.95 03-18-05 186 11.08 03-21-05 323 11.13 03-22-05 208 11.09 Sales of Common Stock Holder Date Shares Average Price Loeb Partners Corp.* 12-31-04 798 $6.28 01-19-05 2705 7.68 02-17-05 122 9.26 03-01-05 1240 10.89 Holder Date Shares Average Price Loeb Arbitrage Fund 12-31-05 9747 $6.283 01-19-05 34086 7.678 03-01-05 811 10.887 03-02-05 5406 10.41 Holder Date Shares Average Price Loeb Offshore Fund 12-31-05 855 $6.28 01-19-05 3209 7.68 03-01-05 179 10.88 Holder Date Shares Average Price Loeb Marathon Fund 12-31-04 4988 $6.28 01-12-05 10628 6.37 01-14-05 10528 6.37 01-19-05 6425 7.68 02-01-05 1739 8.28 Holder Date Shares Average Price Loeb Marathon Offshore 12-31-04 2612 $6.28 Fund 01-06-05 4871 6.41 01-19-05 3575 7.67 01-25-05 844 7.03 01-31-05 1984 7.93 02-25-05 15135 9.88 02-25-05 533 9.96 02-28-05 387 9.98 02-28-05 38 10.07 02-28-05 122 9.25 03-01-05 70 10.88 03-10-05 1326 10.92 -------------------- *Including 40,450 shares of Common Stock purchased and 2355 sold for the account of one customer of Loeb Partners Corporation as to which it has investment discretion. All reported transactions were effected on Nasdaq. (d) Not applicable. (e). Not applicable. Item 6.Contracts, Arrangements, Understandings or Relationships with Respect to the Issuer. None. Item 7. Materials to be Filed as Exhibits. None. 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. March 25, 2005 Loeb Partners Corporation By: /s/ Gideon J. King Executive Vice President March 25, 2005 Loeb Arbitrage Fund By: Loeb Arbitrage Management, Inc., G.P. By: /s/ Gideon J. King President March 25, 2005 Loeb Offshore Fund Ltd. By: /s/ Gideon J. King Director March 25, 2005 Loeb Marathon Fund LP By: Loeb Arbitrage Management, Inc., G.P. By: /s/ Gideon J. King President March 25, 2005 Loeb Marathon Offshore Fund By: /s/ Gideon J. King Director