SC 13D 1 dsc13d.htm SCHEDULE 13D Schedule 13D

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934*

 

 

 

 

Sybase, Inc.

(Name of Issuer)

 

 

 

 

Common Stock, $0.001 par value

(Title of Class of Securities)

 

 

871130100

(CUSIP Number)

 

 

Adam J. Semler        

York Capital Management Global Advisors, LLC

767 Fifth Avenue, 17th Floor

New York, New York 10153

Telephone: (212) 300-1300

With copies to:

Richard P. Swanson, Esq.

Arnold & Porter LLP

399 Park Avenue

New York, New York 10022

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

 

May 13, 2010

(Date of Event Which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §240.13d-1(e), §240.13d-1(f) or §240.13d-1(g), check the following box  ¨.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

*   The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 871130100   13D   

 

  1)   

NAMES OF REPORTING PERSONS

 

    JGD Management Corp.

  2)  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨        (b)   x

 

  3)  

SEC USE ONLY

 

  4)  

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

    AF

  5)  

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)  ¨

 

  6)  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

    Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

     7)    

SOLE VOTING POWER

 

    596,439

     8)   

SHARED VOTING POWER

 

    -0-

     9)   

SOLE DISPOSITIVE POWER

 

    596,439

   10)   

SHARED DISPOSITIVE POWER

 

    -0-

11)

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    596,439

12)

 

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES OF COMMON STOCK (SEE INSTRUCTIONS)    ¨

 

13)

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

     Approximately 0.7%

14)

 

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

    IA, CO

 

Page 2 of 21 Pages


CUSIP No. 871130100   13D   

 

  1)   

NAMES OF REPORTING PERSONS

 

    York Capital Management Global Advisors, LLC

  2)  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨        (b)   x

 

  3)  

SEC USE ONLY

 

  4)  

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

    AF

  5)  

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)  ¨

 

  6)  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

    New York

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

     7)    

SOLE VOTING POWER

 

    3,659,183

     8)   

SHARED VOTING POWER

 

    -0-

     9)   

SOLE DISPOSITIVE POWER

 

    3,659,183

   10)   

SHARED DISPOSITIVE POWER

 

    -0-

11)

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    3,659,183

12)

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES OF COMMON STOCK (SEE INSTRUCTIONS)     ¨

13)

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

     Approximately 4.2%

14)

 

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

    IA

 

Page 3 of 21 Pages


Item 1. Security and Issuer

This statement on Schedule 13D (this “Statement”) relates to the common stock, $0.001 par value (the “Common Stock”) of Sybase, Inc. (the “Company”).

The principal executive offices of the Company are located at One Sybase Drive, Dublin, California 94568.

 

Item 2. Identity and Background

(a) This Statement is being filed jointly by JGD Management Corp., a Delaware corporation (“JGD”), d/b/a York Capital Management, and York Capital Management Global Advisors, LLC, a New York limited liability company (“YGA” and, together with JGD, the “Reporting Persons”) pursuant to an Agreement of Joint Filing attached hereto as Exhibit 1.

This Statement is being filed by JGD with respect to 596,439 shares of Common Stock directly owned by certain accounts (the “Managed Accounts”) managed by JGD. James G. Dinan is the sole shareholder of JGD.

This Statement is being filed by YGA with respect to:

(i) 880,224 shares of Common Stock directly owned by York Capital Management, L.P., a Delaware limited partnership (“York Capital”);

(ii) 1,378,997 shares of Common Stock directly owned by York Investment Master Fund, L.P., a Cayman Islands exempted limited partnership (“York Investment”);

(iii) 418,921 shares of Common Stock directly owned by York Select, L.P., a Delaware limited partnership (“York Select”);

(iv) 388,822 shares of Common Stock directly owned by York Select Master Fund, L.P., a Cayman Islands exempted limited partnership (“York Select Master”);

(v) 159,093 shares of Common Stock directly owned by York Global Value Master Fund, L.P., a Cayman Islands exempted limited partnership (“York Global Value”);

(vi) 229,420 shares of Common Stock directly owned by York European Opportunities Master Fund, L.P., a Cayman Islands exempted limited partnership (“York European Opportunities”);

 

Page 4 of 21 Pages


(vii) 45,842 shares of Common Stock directly owned by York European Focus Master Fund, L.P., a Cayman Islands exempted limited partnership (“York European Focus”);

(viii) 4,915 shares of Common Stock directly owned by York Long Enhanced Fund, L.P., a Delaware limited partnership (“York Long Enhanced”); and

(ix) 152,949 shares of Common Stock directly owned by Jorvik Multi-Strategy Master Fund, L.P., a Cayman Islands exempted limited partnership (“Jorvik”).

YGA, the sole managing member of the general partner of each of York Capital, York Investment, York Select, York Select Master, York Global Value, York European Opportunities, York European Focus, York Long Enhanced and Jorvik, exercises investment discretion over such investment funds and accordingly may be deemed to have beneficial ownership over the shares of Common Stock directly owned by such investment funds.

James G. Dinan is the chairman and one of two senior managers of YGA. Daniel A. Schwartz is also a senior manager of YGA.

Dinan Management, L.L.C., a New York limited liability company (“Dinan Management”), is the general partner of York Capital, York Investment and Jorvik. YGA is the sole managing member of Dinan Management.

York Select Domestic Holdings, LLC, a New York limited liability company (“York Select Domestic Holdings”), is the general partner of York Select and York Select Master. YGA is the sole managing member of York Select Domestic Holdings.

York Global Value Holdings, LLC, a New York limited liability company (“York Global Value Holdings”), is the general partner of York Global Value. YGA is the sole managing member of York Global Value Holdings.

York European Opportunities Domestic Holdings, LLC, a New York limited liability company (“York European Opportunities Domestic Holdings”), is the general partner of York European Opportunities. YGA is the sole managing member of York European Opportunities Domestic Holdings.

York European Focus Domestic Holdings, LLC, a New York limited liability company (“York European Focus Domestic Holdings”), is the general partner of York European Focus. YGA is the sole managing member of York European Focus Domestic Holdings.

York Long Enhanced Domestic Holdings, LLC, a New York limited liability company (“York Long Enhanced Domestic Holdings”), is the general partner of

 

Page 5 of 21 Pages


York Long Enhanced. YGA is the sole managing member of York Long Enhanced Domestic Holdings.

The name of each director and each executive officer of JGD is set forth on Exhibit 2 to this Statement, which is incorporated herein by reference.

(b) The principal business office address of each of JGD, YGA, York Capital, York Investment, York Select, York Select Master, York Global Value, York European Opportunities, York European Focus, York Long Enhanced, Jorvik, Dinan Management, York Select Domestic Holdings, York Global Value Holdings, York European Opportunities Domestic Holdings, York European Focus Domestic Holdings, York Long Enhanced Domestic Holdings, James G. Dinan and Daniel A. Schwartz is:

c/o York Capital Management

767 Fifth Avenue, 17th Floor

New York, New York 10153

The business address of each other person named in Item 2(a) above is set forth on Exhibit 2 to this Statement, which is incorporated herein by reference.

(c) JGD and YGA provide investment management services to certain investment funds and accounts for which they have discretionary investment authority.

Each of York Capital, York Investment, York Select, York Select Master, York Global Value, York European Opportunities, York European Focus, York Long Enhanced and Jorvik is a privately owned investment limited partnership in the principal business of purchasing for investment trading purposes securities and other financial instruments.

Dinan Management is a privately owned limited liability company in the principal business of acting as the general partner of York Capital, York Investment and Jorvik and the general partner or manager of four other private investment funds.

York Select Domestic Holdings is a privately owned limited liability company in the principal business of acting as the general partner of York Select and York Select Master and the manager of one other private investment fund.

York Global Value Holdings is a privately owned limited liability company in the principal business of acting as the general partner of York Global Value and the manager of one other private investment fund.

York European Opportunities Domestic Holdings is a privately owned limited liability company in the principal business of acting as the general partner of York European Opportunities.

 

Page 6 of 21 Pages


York European Focus Domestic Holdings is a privately owned limited liability company in the principal business of acting as the general partner of York European Focus.

York Long Enhanced Domestic Holdings is a privately owned limited liability company in the principal business of acting as the general partner of York Long Enhanced.

The present principal occupation or employment of each other person named in Item 2(a) above is set forth on Exhibit 2 to this Statement, which is incorporated herein by reference.

(d)-(e) Neither the Reporting Persons nor, to the knowledge of the Reporting Persons, any other person named in Item 2(a) above has during the last five years been 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 was or is 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 violation with respect to such laws.

(f) The citizenship of each natural person named in Item 2(a) above is set forth on Exhibit 2 to this Statement, which is incorporated herein by reference.

 

Item 3. Source and Amount of Funds or Other Consideration

As of May 24, 2010, the aggregate amount of funds used to purchase the securities of the Company listed in Item 5(a)(i) and (ii) was approximately $273,603,384.

The source of the funds used by the Reporting Person for the purchase of the securities of the Company listed in Item 5(a)(i) and (ii) was the respective working capital of the following advisory clients of the Reporting Persons: (i) approximately $38,386,346 of working capital of the Managed Accounts; (ii) approximately $56,570,449 of working capital of York Capital; (iii) approximately $88,625,711 of working capital of York Investment; (iv) approximately $26,923,315 of working capital of York Select; (v) approximately $24,988,906 of working capital of York Select Master; (vi) approximately $10,224,627 of working capital of York Global Value; (vii) approximately $14,781,267 of working capital of York European Opportunities; (viii) approximately $2,957,121 of working capital of York Focus Opportunities; (ix) approximately $315,879 of working capital of York Long Enhanced and (x) approximately $9,829,763 of working capital of Jorvik. Working capital in each of these cases was provided by capital contributions of partners, unitholders or shareholders, as the case may be, and internally generated funds.

 

Item 4. Purpose of Transaction

 

Page 7 of 21 Pages


The Reporting Persons acquired the securities of the Company described in Item 5 of this Statement for investment purposes and not with a view towards changing or influencing control of the Company. A tender offer (the “Tender Offer”) to acquire all outstanding shares of Common Stock of the Company by Sheffield Acquisition Corp., a wholly owned subsidiary of SAP America, Inc., which is a wholly-owned subsidiary of SAP AG, was announced on May 12, 2010. The Reporting Persons acquired shares of Common Stock following the public announcement of the Tender Offer and may be deemed to have acquired the shares of Common Stock in connection with the Tender Offer under interpretations of the Staff of the Securities and Exchange Commission.

The Reporting Persons reserve the right to purchase additional shares of Common Stock, either separately or together with other persons, to sell all or some of the shares of Common Stock beneficially owned by them or to otherwise trade in the shares of Common Stock, in open market or private transactions, to the extent deemed advisable in light of general investment and trading policies of the Reporting Persons and/or the Managed Accounts, market conditions or other factors. The Reporting Persons also reserve the right to acquire or dispose of derivatives or other instruments related to shares of Common Stock or other securities of the Company, provided that in their judgment such transactions are advisable.

Except as described above, the Reporting Persons do not have any plans or proposals which relate to or would result in:

(a) the acquisition by any person of additional securities of the Company, or the disposition of securities of the Company;

(b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any of its subsidiaries;

(c) a sale or transfer of a material amount of assets of the Company or any of its subsidiaries;

(d) any change in the board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board;

(e) any material change in the present capitalization or dividend policy of the Company;

(f) any other material change in the Company’s business or corporate structure;

(g) changes in the Company’s charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Company by any person;

 

Page 8 of 21 Pages


(h) causing a class of securities of the Company to be delisted from a national securities exchange or cease to be authorized to be quoted in an inter-dealer quotation system of registered national securities association;

(i) a class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended; or

(j) any action similar to those enumerated in clauses (a)-(i) above.

The Reporting Persons reserve the right to consider, either separately or together with other persons, plans or proposals relating to or resulting in the occurrence of one or more of the transactions described in clauses (a)-(j) above in the future depending upon then existing factors, including without limitation the market for the shares of Common Stock, the Company’s then prospects, alternative investment opportunities, general economic and money-market investment conditions and other factors deemed relevant from time to time.

 

Item 5. Interest in Securities of the Issuer

(a)(i) JGD may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 596,439 shares of Common Stock, which constitute approximately 0.7% of the issued and outstanding shares of Common Stock. As the sole shareholder of JGD, James G. Dinan may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by JGD.

(ii) YGA may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 3,659,183 shares of Common Stock, which constitute approximately 4.2% of the issued and outstanding shares of Common Stock.

(iii) York Capital may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 880,224 shares of Common Stock, which constitute approximately 1.0% of the issued and outstanding shares of Common Stock. As the general partner of York Capital, Dinan Management may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by York Capital.

(iv) York Investment may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 1,378,997 shares of Common Stock, which constitute approximately 1.6% of the issued and outstanding shares of Common Stock. As the general partner of York Investment, Dinan Management may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by York Investment.

(v) York Select may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 418,921 shares of Common Stock, which constitute approximately 0.5% of the issued and outstanding shares of Common Stock. As the

 

Page 9 of 21 Pages


general partner of York Select, York Select Domestic Holdings may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by York Select.

(vi) York Select Master may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 388,822 shares of Common Stock, which constitute approximately 0.4% of the issued and outstanding shares of Common Stock. As the general partner of York Select Master, York Select Domestic Holdings may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by York Select Master.

(vii) York Global Value may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 159,093 shares of Common Stock, which constitute approximately 0.2% of the issued and outstanding shares of Common Stock. As the general partner of York Global Value, York Global Value Holdings may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by York Global Value.

(viii) York European Opportunities may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 229,420 shares of Common Stock, which constitute approximately 0.3% of the issued and outstanding shares of Common Stock. As the general partner of York European Opportunities, York European Opportunities Domestic Holdings may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by York European Opportunities.

(ix) York European Focus may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 45,842 shares of Common Stock, which constitute approximately 0.1% of the issued and outstanding shares of Common Stock. As the general partner of York European Focus, York European Focus Domestic Holdings may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by York European Focus.

(x) York Long Enhanced may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 4,915 shares of Common Stock, which constitute approximately 0.0% of the issued and outstanding shares of Common Stock. As the general partner of York Long Enhanced, York Long Enhanced Domestic Holdings may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by York Long Enhanced.

(xi) Jorvik may, pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of 152,949 shares of Common Stock, which constitute approximately 0.2% of the issued and outstanding shares of Common Stock. As the general partner of Jorvik, Dinan Management may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by Jorvik.

 

Page 10 of 21 Pages


(xii) To the knowledge of the Reporting Persons, except as described above, no shares of Common Stock are beneficially owned, or may be deemed to be beneficially owned, by any of the persons named on Exhibit 2 to this Statement.

The number of shares of Common Stock beneficially owned and the percentage of outstanding shares of Common Stock represented thereby, for each person named above, have been computed in accordance with Rule 13d-3 under the Exchange Act. The percentages of ownership described above are based on 86,860,852 shares of Common Stock issued and outstanding as of April 30, 2010 as reported in the Company’s Quarterly Report on Form 10-Q filed with the SEC on May 7, 2010.

(b) (i) JGD may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 596,439 shares of Common Stock. As the sole shareholder of JGD, James G. Dinan may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 596,439 shares of Common Stock.

(ii) YGA may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 3,659,183 shares of Common Stock.

(iii) York Capital may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 880,224 shares of Common Stock. As the general partner of York Capital, Dinan Management may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 880,224 shares of Common Stock.

(iv) York Investment may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 1,378,997 shares of Common Stock. As the general partner of York Investment, Dinan Management may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 1,378,997 shares of Common Stock.

(v) York Select may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 418,921 shares of Common Stock. As the general partner of York Select, York Select Domestic Holdings may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 418,921 shares of Common Stock.

(vi) York Select Master may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 388,822 shares of Common Stock. As the general partner of York Select Master, York Select Domestic Holdings may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 388,822 shares of Common Stock.

(vii) York Global Value may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 159,093 shares of Common Stock. As the general partner of York Global Value, York Global Value Holdings may be

 

Page 11 of 21 Pages


deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 159,093 shares of Common Stock.

(viii) York European Opportunities may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 229,420 shares of Common Stock. As the general partner of York European Opportunities, York European Opportunities Domestic Holdings may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 229,420 shares of Common Stock.

(ix) York European Focus may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 45,842 shares of Common Stock. As the general partner of York European Focus, York European Focus Domestic Holdings may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 45,842 shares of Common Stock.

(x) York Long Enhanced may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 4,915 shares of Common Stock. As the general partner of York Long Enhanced, York Long Enhanced Domestic Holdings may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 4,915 shares of Common Stock.

(xi) Jorvik may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 152,949 shares of Common Stock. As the general partner of Jorvik, Dinan Management may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 152,949 shares of Common Stock.

(xii) To the knowledge of the Reporting Persons, except as described above, none of the persons named on Exhibit 2 to this Statement has, or may be deemed to have, any power to dispose of, direct the disposition of, vote or direct the vote of any shares of Common Stock.

(c) The following table sets forth all transactions with respect to the Common Stock effected during the past sixty (60) days by the Reporting Persons. All such transactions were effected in the open market.

 

Date of

Transaction

   No. of
Shares
   Price per
Share
(dollars)
   Total Price
(dollars)
   Transaction
Type

5/12/2010

   4,512    62.938699    283,979.41    Purchase

5/12/2010

   26,800    62.9387    1,686,757.16    Purchase

5/12/2010

   881    58.444892    51,489.95    Sale

5/12/2010

   3,631    58.44491    212,213.47    Sale

5/12/2010

   1,569    58.444914    91,700.07    Sale

5/12/2010

   19,519    62.9387    1,228,500.49    Purchase

 

Page 12 of 21 Pages


Date of

Transaction

   No. of
Shares
   Price per
Share
(dollars)
   Total Price
(dollars)
   Transaction
Type

5/12/2010

   117,700    62.9387    7,407,884.99    Purchase

5/12/2010

   3,748    58.444909    219,051.52    Sale

5/12/2010

   15,771    58.444912    921,734.70    Sale

5/12/2010

   7,129    58.444911    416,653.77    Sale

5/12/2010

   30,716    62.9387    1,933,225.11    Purchase

5/12/2010

   184,257    62.9387    11,596,896.04    Purchase

5/12/2010

   5,962    58.444911    348,448.56    Sale

5/12/2010

   24,754    58.444912    1,446,745.34    Sale

5/12/2010

   11,031    58.444912    644,705.82    Sale

5/12/2010

   9,306    62.9387    585,707.54    Purchase

5/12/2010

   56,000    62.9387    3,524,567.20    Purchase

5/12/2010

   1,882    58.444904    109,993.31    Sale

5/12/2010

   7,424    58.444911    433,895.02    Sale

5/12/2010

   3,376    58.444911    197,310.02    Sale

5/12/2010

   1,152    62.938698    72,505.38    Purchase

5/12/2010

   6,700    62.9387    421,689.29    Purchase

5/12/2010

   225    58.444844    13,150.09    Sale

5/12/2010

   927    58.444908    54,178.43    Sale

5/12/2010

   373    58.444906    21,799.95    Sale

5/12/2010

   8,614    62.9387    542,153.96    Purchase

5/12/2010

   52,000    62.9387    3,272,812.40    Purchase

5/12/2010

   1,671    58.444901    97,661.43    Sale

5/12/2010

   6,943    58.444911    405,783.02    Sale

5/12/2010

   3,157    58.44491    184,510.58    Sale

5/12/2010

   3,501    62.9387    220,348.39    Purchase

5/12/2010

   21,300    62.9387    1,340,594.31    Purchase

5/12/2010

   716    58.444902    41,846.55    Sale

5/12/2010

   2,785    58.444908    162,769.07    Sale

5/12/2010

   1,315    58.444913    76,855.06    Sale

5/12/2010

   166    62.938675    10,447.82    Purchase

5/12/2010

   600    62.9387    37,763.22    Purchase

5/12/2010

   49    58.444694    2,863.79    Sale

5/12/2010

   100    58.4449    5,844.49    Sale

5/12/2010

   1,686    62.938701    106,114.65    Purchase

5/12/2010

   9,900    62.9387    623,093.13    Purchase

5/12/2010

   350    58.444886    20,455.71    Sale

5/12/2010

   1,336    58.44491    78,082.40    Sale

5/12/2010

   564    58.444911    32,962.93    Sale

5/12/2010

   6,028    62.938699    379,394.48    Purchase

5/12/2010

   36,200    62.9387    2,278,380.94    Purchase

5/12/2010

   1,101    58.444905    64,347.84    Sale

5/12/2010

   4,927    58.444912    287,958.08    Sale

5/12/2010

   2,173    58.44491    127,000.79    Sale

5/12/2010

   3,443    62.938702    216,697.95    Purchase

5/12/2010

   20,400    62.9387    1,283,949.48    Purchase

5/12/2010

   630    58.444905    36,820.29    Sale

5/12/2010

   2,813    58.444909    164,405.53    Sale

5/12/2010

   1,187    58.444912    69,374.11    Sale

5/13/2010

   50,594    64.4907    3,262,842.48    Purchase

5/13/2010

   25,100    64.4907    1,618,716.57    Purchase

 

Page 13 of 21 Pages


Date of

Transaction

   No. of
Shares
   Price per
Share
(dollars)
   Total Price
(dollars)
   Transaction
Type

5/13/2010

   50,463    64.4925    3,254,485.03    Purchase

5/13/2010

   3,631    64.485902    234,148.31    Purchase

5/13/2010

   21,600    64.4859    1,392,895.44    Purchase

5/13/2010

   25,231    64.53    1,628,156.43    Purchase

5/13/2010

   25,263    64.4686    1,628,670.24    Purchase

5/13/2010

   25,200    64.4686    1,624,608.72    Purchase

5/13/2010

   19,344    64.2686    1,243,211.80    Purchase

5/13/2010

   221,113    64.4907    14,259,732.15    Purchase

5/13/2010

   110,600    64.4907    7,132,671.42    Purchase

5/13/2010

   221,142    64.4925    14,262,000.43    Purchase

5/13/2010

   15,771    64.4859    1,017,007.13    Purchase

5/13/2010

   94,800    64.4859    6,113,263.32    Purchase

5/13/2010

   110,571    64.53    7,135,146.63    Purchase

5/13/2010

   110,542    64.4686    7,126,487.98    Purchase

5/13/2010

   110,600    64.4686    7,130,227.16    Purchase

5/13/2010

   84,772    64.2686    5,448,177.76    Purchase

5/13/2010

   345,976    64.4907    22,312,234.42    Purchase

5/13/2010

   173,700    64.4907    11,202,034.59    Purchase

5/13/2010

   346,451    64.4925    22,343,491.12    Purchase

5/13/2010

   24,754    64.4859    1,596,283.97    Purchase

5/13/2010

   148,471    64.4859    9,574,286.06    Purchase

5/13/2010

   173,225    64.53    11,178,209.25    Purchase

5/13/2010

   172,951    64.4686    11,149,908.84    Purchase

5/13/2010

   173,500    64.4686    11,185,302.10    Purchase

5/13/2010

   132,807    64.2686    8,535,319.96    Purchase

5/13/2010

   105,270    64.4907    6,788,935.99    Purchase

5/13/2010

   52,600    64.4907    3,392,210.82    Purchase

5/13/2010

   105,247    64.4925    6,787,642.15    Purchase

5/13/2010

   7,523    64.485901    485,127.43    Purchase

5/13/2010

   45,100    64.4859    2,908,314.09    Purchase

5/13/2010

   52,623    64.53    3,395,762.19    Purchase

5/13/2010

   52,647    64.4686    3,394,078.38    Purchase

5/13/2010

   52,600    64.4686    3,391,048.36    Purchase

5/13/2010

   40,345    64.2686    2,592,916.67    Purchase

5/13/2010

   12,781    64.4907    824,255.64    Purchase

5/13/2010

   6,200    64.4907    399,842.34    Purchase

5/13/2010

   12,654    64.4925    816,088.09    Purchase

5/13/2010

   927    64.485901    59,778.43    Purchase

5/13/2010

   5,400    64.4859    348,223.86    Purchase

5/13/2010

   6,327    64.53    408,281.31    Purchase

5/13/2010

   6,354    64.468599    409,633.48    Purchase

5/13/2010

   6,300    64.4686    406,152.18    Purchase

5/13/2010

   4,851    64.2686    311,766.98    Purchase

5/13/2010

   97,728    64.4907    6,302,547.13    Purchase

5/13/2010

   48,800    64.4907    3,147,146.16    Purchase

5/13/2010

   97,685    64.4925    6,299,949.86    Purchase

5/13/2010

   6,943    64.485901    447,725.61    Purchase

5/13/2010

   41,900    64.4859    2,701,959.21    Purchase

5/13/2010

   48,843    64.53    3,151,838.79    Purchase

5/13/2010

   48,885    64.4686    3,151,547.51    Purchase

 

Page 14 of 21 Pages


Date of

Transaction

   No. of
Shares
   Price per
Share
(dollars)
   Total Price
(dollars)
   Transaction
Type

5/13/2010

   48,800    64.4686    3,146,067.68    Purchase

5/13/2010

   37,446    64.2686    2,406,602.00    Purchase

5/13/2010

   40,054    64.4907    2,583,110.50    Purchase

5/13/2010

   19,900    64.4907    1,283,364.93    Purchase

5/13/2010

   39,969    64.4925    2,577,700.73    Purchase

5/13/2010

   2,885    64.485903    186,041.83    Purchase

5/13/2010

   17,100    64.4859    1,102,708.89    Purchase

5/13/2010

   19,985    64.53    1,289,632.05    Purchase

5/13/2010

   20,069    64.4686    1,293,820.33    Purchase

5/13/2010

   19,900    64.4686    1,282,925.14    Purchase

5/13/2010

   15,322    64.2686    984,723.49    Purchase

5/13/2010

   77,527    64.5068    5,001,018.68    Purchase

5/13/2010

   77,527    64.5068    5,001,018.68    Purchase

5/13/2010

   155,231    64.3916    9,995,572.46    Purchase

5/13/2010

   31,000    64.5068    1,999,710.80    Purchase

5/13/2010

   31,000    64.5068    1,999,710.80    Purchase

5/13/2010

   1,253    64.490702    80,806.85    Purchase

5/13/2010

   600    64.4907    38,694.42    Purchase

5/13/2010

   1,235    64.492502    79,648.24    Purchase

5/13/2010

   118    64.485932    7,609.34    Purchase

5/13/2010

   500    64.4859    32,242.95    Purchase

5/13/2010

   617    64.53    39,815.01    Purchase

5/13/2010

   635    64.468598    40,937.56    Purchase

5/13/2010

   600    64.4686    38,681.16    Purchase

5/13/2010

   474    64.268608    30,463.32    Purchase

5/13/2010

   18,709    64.4907    1,206,556.51    Purchase

5/13/2010

   9,300    64.4907    599,763.51    Purchase

5/13/2010

   18,673    64.4925    1,204,268.45    Purchase

5/13/2010

   1,336    64.485898    86,153.16    Purchase

5/13/2010

   8,000    64.4859    515,887.20    Purchase

5/13/2010

   9,336    64.53    602,452.08    Purchase

5/13/2010

   9,373    64.4686    604,264.19    Purchase

5/13/2010

   9,300    64.4686    599,557.98    Purchase

5/13/2010

   7,158    64.2686    460,034.64    Purchase

5/13/2010

   68,083    64.4907    4,390,720.33    Purchase

5/13/2010

   34,000    64.4907    2,192,683.80    Purchase

5/13/2010

   68,055    64.4925    4,389,037.09    Purchase

5/13/2010

   4,828    64.485901    311,337.93    Purchase

5/13/2010

   29,200    64.4859    1,882,988.28    Purchase

5/13/2010

   34,029    64.53    2,195,891.37    Purchase

5/13/2010

   34,055    64.4686    2,195,478.17    Purchase

5/13/2010

   34,000    64.4686    2,191,932.40    Purchase

5/13/2010

   26,088    64.2686    1,676,639.24    Purchase

5/13/2010

   38,439    64.4907    2,478,958.02    Purchase

5/13/2010

   19,200    64.4907    1,238,221.44    Purchase

5/13/2010

   38,426    64.4925    2,478,188.80    Purchase

5/13/2010

   2,713    64.485901    174,950.25    Purchase

5/13/2010

   16,500    64.4859    1,064,017.35    Purchase

5/13/2010

   19,213    64.53    1,239,814.89    Purchase

5/13/2010

   19,226    64.4686    1,239,473.30    Purchase

 

Page 15 of 21 Pages


Date of

Transaction

   No. of
Shares
   Price per
Share
(dollars)
   Total Price
(dollars)
   Transaction
Type

5/13/2010

   19,200    64.4686    1,237,797.12    Purchase

5/13/2010

   14,730    64.2686    946,676.48    Purchase

5/13/2010

   505    21.0140    10,612.07    Option Purchase

5/13/2010

   2,214    21.0140    46,525.00    Option Purchase

5/13/2010

   3,469    21.0140    72,897.57    Option Purchase

5/13/2010

   1,054    21.0140    22,148.76    Option Purchase

5/13/2010

   127    21.0140    2,668.78    Option Purchase

5/13/2010

   978    21.0140    20,551.69    Option Purchase

5/13/2010

   400    21.0140    8,405.60    Option Purchase

5/13/2010

   187    21.0140    3,929.62    Option Purchase

5/13/2010

   681    21.0140    14,310.53    Option Purchase

5/13/2010

   385    21.0140    8,090.39    Option Purchase

5/19/2010

   23,599    64.2295    1,515,752.29    Sale

5/19/2010

   103,419    64.2295    6,642,552.08    Sale

5/19/2010

   162,021    64.2295    10,406,530.05    Sale

5/19/2010

   49,220    64.2295    3,161,376.66    Sale

5/19/2010

   5,918    64.2295    380,110.26    Sale

5/19/2010

   45,683    64.2295    2,934,196.88    Sale

5/19/2010

   18,692    64.2295    1,200,578.07    Sale

5/19/2010

   26,955    64.2295    1,731,306.54    Sale

5/19/2010

   5,386    64.2295    345,940.15    Sale

5/19/2010

   578    64.2295    37,124.66    Sale

5/19/2010

   8,732    64.2295    560,852.11    Sale

5/19/2010

   31,827    64.2295    2,044,232.74    Sale

5/19/2010

   17,970    64.2295    1,154,204.36    Sale

5/20/2010

   1,632    64.0795    104,577.77    Sale

5/20/2010

   10,266    64.0795    657,840.31    Sale

5/20/2010

   11,700    64.0795    749,730.34    Sale

5/20/2010

   7,152    64.0795    458,296.70    Sale

5/20/2010

   44,468    64.0795    2,849,487.93    Sale

5/20/2010

   51,800    64.0795    3,319,318.94    Sale

5/20/2010

   11,204    64.0795    717,946.90    Sale

5/20/2010

   69,218    64.0795    4,435,455.96    Sale

5/20/2010

   81,600    64.0795    5,228,888.53    Sale

5/20/2010

   3,403    64.0795    218,062.59    Sale

5/20/2010

   21,216    64.0795    1,359,511.02    Sale

5/20/2010

   24,600    64.0795    1,576,356.10    Sale

5/20/2010

   409    64.0795    26,208.52    Sale

5/20/2010

   2,607    64.0795    167,055.30    Sale

5/20/2010

   2,900    64.0795    185,830.59    Sale

5/20/2010

   3,160    64.0795    202,491.27    Sale

5/20/2010

   19,724    64.0795    1,263,904.38    Sale

5/20/2010

   22,800    64.0795    1,461,012.97    Sale

5/20/2010

   1,293    64.0795    82,854.81    Sale

5/20/2010

   8,099    64.0795    518,980.01    Sale

5/20/2010

   9,300    64.0795    595,939.50    Sale

5/20/2010

   13,555    64.0795    868,597.84    Sale

5/20/2010

   13,400    64.0795    858,665.51    Sale

5/20/2010

   2,786    64.0795    178,525.53    Sale

5/20/2010

   2,600    64.0795    166,606.74    Sale

 

Page 16 of 21 Pages


Date of

Transaction

   No. of
Shares
   Price per
Share
(dollars)
   Total Price
(dollars)
   Transaction
Type

5/20/2010

   39    64.0795    2,499.10    Sale

5/20/2010

   339    64.0795    21,722.96    Sale

5/20/2010

   200    64.0795    12,815.90    Sale

5/20/2010

   604    64.0795    38,704.03    Sale

5/20/2010

   3,828    64.0795    245,296.38    Sale

5/20/2010

   4,300    64.0795    275,541.92    Sale

5/20/2010

   2,200    64.0795    140,974.94    Sale

5/20/2010

   13,727    64.0795    879,619.52    Sale

5/20/2010

   15,900    64.0795    1,018,864.31    Sale

5/20/2010

   1,243    64.0795    79,650.84    Sale

5/20/2010

   7,828    64.0795    501,614.45    Sale

5/20/2010

   8,900    64.0795    570,307.69    Sale

5/20/2010

   505    5.5559    2,805.72    Option Sale

5/20/2010

   2,214    5.5559    12,300.75    Option Sale

5/20/2010

   3,469    5.5559    19,273.40    Option Sale

5/20/2010

   1,054    5.5559    5,855.91    Option Sale

5/20/2010

   127    5.5558    705.59    Option Sale

5/20/2010

   978    5.5559    5,433.66    Option Sale

5/20/2010

   400    5.5559    2,222.35    Option Sale

5/20/2010

   187    5.5559    1,038.95    Option Sale

5/20/2010

   681    5.5559    3,783.57    Option Sale

5/20/2010

   385    5.5559    2,139.02    Option Sale

5/21/2010

   23,599    63.9856    1,509,996.59    Sale

5/21/2010

   103,419    63.9856    6,617,328.62    Sale

5/21/2010

   162,021    63.9856    10,367,013.80    Sale

5/21/2010

   49,219    63.9856    3,149,308.13    Sale

5/21/2010

   5,918    63.9856    378,666.88    Sale

5/21/2010

   45,684    63.9856    2,923,118.96    Sale

5/21/2010

   18,692    63.9856    1,196,019.17    Sale

5/21/2010

   23,617    63.9856    1,511,148.34    Sale

5/21/2010

   3,338    63.9856    213,583.99    Sale

5/21/2010

   5,386    63.9856    344,626.54    Sale

5/21/2010

   578    63.9856    36,983.68    Sale

5/21/2010

   8,732    63.9856    558,722.41    Sale

5/21/2010

   31,827    63.9856    2,036,470.26    Sale

5/21/2010

   17,970    63.9856    1,149,821.55    Sale

(d) The right to receive dividends from, or the proceeds from the sale of, all shares of Common Stock reported in this Statement as beneficially owned by each Reporting Person is held by York Capital, York Investment, York Select, York Select Master, York Global Value, York European Opportunities, York European Focus, York Long Enhanced, Jorvik or the Managed Accounts, as the case may be, as the advisory clients of such Reporting Person. The Reporting Persons disclaim beneficial ownership of all shares of Common Stock reported in this Statement pursuant to Rule 13d-4 under the Exchange Act.

 

Page 17 of 21 Pages


Except as set forth in this Item 5(d), to the knowledge of the Reporting Persons, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any other shares of Common Stock deemed to be beneficially owned by the Reporting Persons.

(e) The Reporting Persons ceased to be the beneficial owner of more than five percent of the Common Stock on May 21, 2010.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

The information provided in response to Item 3 and Item 4 above is incorporated herein by reference.

 

Item 7. Material to Be Filed as Exhibits

The exhibits listed on the Index of Exhibits of this Statement are filed herewith.

 

Page 18 of 21 Pages


SIGNATURES

After reasonable inquiry and to the best of the knowledge and belief of the undersigned Reporting Person, the undersigned Reporting Person certifies that the information set forth in this statement with respect to it is true, complete and correct.

 

Dated: May 24, 2010    
  JGD MANAGEMENT CORP.
  By:  

/s/ Adam J. Semler

    Adam J. Semler
    Chief Operating Officer

 

Page 19 of 21 Pages


SIGNATURES

After reasonable inquiry and to the best of the knowledge and belief of the undersigned Reporting Person, the undersigned Reporting Person certifies that the information set forth in this statement with respect to it is true, complete and correct.

 

Dated: May 24, 2010    
  YORK CAPITAL MANAGEMENT GLOBAL ADVISORS, LLC
  By:  

/s/ Adam J. Semler

    Adam J. Semler
    Chief Operating Officer

 

Page 20 of 21 Pages


INDEX OF EXHIBITS

 

Exhibit
No.

  

Description

1    Agreement of Joint Filing dated May 24, 2010 by and among JGD Management Corp. and York Capital Management Global Advisors, LLC.
2    Directors and Executive Officers of JGD Management Corp.

 

Page 21 of 21 Pages