UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
Castle & Cooke, Inc.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
148433105
--------------------------------
(CUSIP Number)
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Daniel R. Tisch Thomas J. Tisch
500 Park Avenue 667 Madison Avenue
New York, N.Y. 10022 New York, N.Y. 10021
212 935-6655 212 545-2927
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 4, 2000
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 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 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 (the "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).
Page 1 of 11 Pages
<PAGE>
SCHEDULE 13D
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CUSIP NO. 148433105 PAGE 2 OF 11 PAGES
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Daniel R. Tisch
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
NUMBER OF 816,000
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 648,400
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 816,000
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
648,400
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,464,400
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.6%
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14. TYPE OF REPORTING PERSON (See Instructions)
IN
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<PAGE>
SCHEDULE 13D
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CUSIP NO. 148433105 PAGE 3 OF 11 PAGES
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Andrew H. Tisch
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 648,400
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
648,400
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
648,400
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.8%
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14. TYPE OF REPORTING PERSON (See Instructions)
IN
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<PAGE>
SCHEDULE 13D
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CUSIP NO. 148433105 PAGE 4 OF 11 PAGES
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
James S. Tisch
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 648,400
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
648,400
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
648,400
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.8%
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14. TYPE OF REPORTING PERSON (See Instructions)
IN
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<PAGE>
SCHEDULE 13D
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CUSIP NO. 148433105 PAGE 5 OF 11 PAGES
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Thomas J. Tisch
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 648,400
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
648,400
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
648,400
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.8%
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14. TYPE OF REPORTING PERSON (See Instructions)
IN
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<PAGE>
ITEM 1. SECURITY AND ISSUER.
The title of the class of equity securities to which this statement
relates is the Common Stock, no par value (the "Common Stock"), of Castle &
Cooke, Inc. (the "Issuer") whose principal executive offices are located at
10900 Wilshire Boulevard, 16th Floor, Los Angeles, California 90024.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is filed jointly by Daniel R. Tisch, Thomas J. Tisch,
Andrew H. Tisch and James S. Tisch (the "Reporting Persons"), each of whom is a
United States citizen.
The business address of Daniel R. Tisch is c/o Mentor Partners, L.P.,
500 Park Avenue, New York. N.Y. 10022. His present principal occupation or
employment and the name, principal business and address of any corporation or
other organization in which such employment is conducted are as follows: General
Partner, Mentor Partners, L.P. (a partnership engaged in investment activities),
500 Park Avenue, New York., N.Y. 10022.
The business address of Andrew H. Tisch is 667 Madison Avenue, New
York, N.Y. 10021. His present principal occupation or employment and the name,
principal business and address of any corporation or other organization in which
such employment is conducted are as follows: Office of the President and
Chairman of the Executive Committee of Loews Corporation (a diversified
financial corporation), 667 Madison Avenue, New York, N.Y. 10021.
The business address of James S. Tisch is 667 Madison Avenue, New York,
N.Y. 10021. His present principal occupation or employment and the name,
principal business and address of any corporation or other organization in which
such employment is conducted are as follows: Office of the President, President
and Chief Executive Officer of Loews Corporation (a diversified financial
corporation), 667 Madison Avenue, New York, N.Y. 10021.
The business address of Thomas J. Tisch is 667 Madison Avenue, New
York, N.Y. 10021. His present principal occupation or employment and the name,
principal business and address of any corporation or other organization in which
such employment is conducted are as follows: Managing Partner of FLF Associates
and Manager of Four Partners and 4-14 Partners (entities engaged in investment
activities), 667 Madison Avenue, New York, N.Y. 10021.
During the five years preceding the filing of this statement, none of
the Reporting Persons was convicted in a criminal proceeding (excluding traffic
violations and similar misdemeanors) or was a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction as a result of which
he was or is subject to a judgment, decree or final
Page 6 of 11 Pages
<PAGE>
order enjoining future violations of, or prohibiting or mandating activities
subject to, United States federal or state securities laws or finding any
violation with respect to such laws.
Because of family relationships among the Reporting Persons, they are
filing jointly as if they constitute a group solely for informational purposes.
The filing of this statement is not an admission by any Reporting Person that
such Reporting Person and any other Reporting Person or Reporting Persons
constitute a "group" for purposes of Section 13(d)(3) of the Securities Exchange
Act of 1934 or Rule 13d-5 thereunder, and each Reporting Person disclaims
beneficial ownership of any shares of Common Stock owned by any other Reporting
Person except to the extent that beneficial ownership is expressly reported
herein.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source of $12,860,130 used to purchase 760,000 shares of Common
Stock held by Mentor Partners, L.P was working capital of Mentor Partners, L.P.
The source of $947,699 used to purchase 56,000 shares of Common Stock held by
Mentor Offshore Fund Limited was working capital of Mentor Offshore Fund
Limited. The source of $11,207,327.90 used to purchase 648,400 shares of Common
Stock held by Four Partners was working capital of Four Partners.
ITEM 4. PURPOSE OF TRANSACTION.
The securities of the Issuer referred to in this statement were
acquired for the purpose of investment. On March 29, 2000, David H. Murdock,
Chairman of the Board and Chief Executive Officer of the Issuer, announced that
he had submitted a proposal to the Board of Directors of the Issuer pursuant to
which entities controlled by him would acquire all of the outstanding shares of
Common Stock of the Issuer not already owned by them at a price of $17 per share
in cash. The Reporting Persons believe that the Common Stock is worth more than
$17 per share and that its value will be recognized by the market in the future.
The Reporting Persons may buy additional shares of Common Stock and may sell any
shares of Common Stock at any time.
Except as set forth above, at the present time none of the Reporting
Persons has any plans or proposals which relate to or would result in (a) the
acquisition by any person of additional securities of the Issuer, or the
disposition of securities of the Issuer, (b) an extraordinary corporate
transaction, such as a merger, reorganization or liquidation, involving the
Issuer or any of its subsidiaries, (c) a sale or transfer of a material amount
of assets of the Issuer or any of its subsidiaries, (d) any change in the
present board of directors or management of the Issuer, 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 Issuer, (f) any other material change in the Issuer's
business or corporate structure, (g) changes in the Issuer's charter, bylaws or
instruments corresponding thereto or other actions which may impede the
acquisition of control of the Issuer by any person, (h) causing a class of
securities of the Issuer to be
Page 7 of 11 Pages
<PAGE>
delisted from a national securities exchange or to cease to be authorized to be
quoted in an inter-dealer quotation system of a registered national securities
association, (i) a class of equity securities of the Issuer becoming eligible
for termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934 or (j) any action similar to any of those enumerated above.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The aggregate number and percentage of the outstanding Common Stock
(based upon a total of 17,052,946 shares reported as outstanding by the Issuer
as of March 16, 2000) beneficially owned by each of the Reporting Persons as of
April 12, 2000 was as follows:
Daniel R. Tisch 1,464,400 8.6%
Thomas J. Tisch 648,400 3.8
Andrew H. Tisch 648,400 3.8
James S. Tisch 648,400 3.8
Daniel R. Tisch has sole voting power and sole dispositive power as to
816,000 shares of Common Stock, which include 760,000 shares held by Mentor
Partners, L.P. and 56,000 shares held by Mentor Offshore Fund Limited. Mentor
Partners, L.P. is a Delaware limited partnership whose sole general partner is
WTG & Co., L.P., a Delaware limited partnership whose sole general partner is D.
Tisch & Co., Inc., a Delaware corporation. Daniel R. Tisch owns all of the stock
of D. Tisch & Co., Inc. and is its chief executive officer and sole director.
Mentor Offshore Fund Limited, a Cayman Islands company, has entered into an
agreement whereby WTG & Co., L.P., acts as its investment adviser and has sole
power to vote and sole power to dispose of securities held by it. Accordingly,
Daniel R. Tisch has sole voting power and sole dispositive power over the shares
of Common Stock held by Mentor Partners, L.P. and Mentor Offshore Fund Limited.
Daniel R. Tisch, Thomas J. Tisch, Andrew H. Tisch and James S. Tisch
have shared voting power and shared dispositive power as to 648,400 shares of
Common Stock held by Four Partners, a New York general partnership the sole
partners of which are Andrew H. Tisch 1991 Trust, for which Andrew H. Tisch is
the managing trustee, Daniel R. Tisch 1991 Trust, for which Daniel R. Tisch is
the managing trustee, James S. Tisch 1991 Trust, for which James S. Tisch is the
managing trustee, and Thomas J. Tisch 1991 Trust, for which Thomas J. Tisch is
the managing trustee. Each managing trustee has sole voting power and sole
dispositive power with respect to securities held by each respective trust, and
each general partner has shared voting power and shared dispositive power with
respect to securities held by the partnership. In addition, the partnership has
designated Thomas J. Tisch as its manager with full authority to act on behalf
of the partnership in connection with the partnership business.
Page 8 of 11 Pages
<PAGE>
The Reporting Persons effected purchases of Common Stock on the New
York Stock Exchange and in the over-the-counter market during the sixty days
preceding the filing of this statement as follows:
Name Date No. of Shares Price per Share
- ---- ---- ------------- ---------------
Daniel R. Tisch:
3/30/00 15,000 17.187
3/30/00 150,000 16.895
3/31/00 23,000 16.909
4/03/00 525,000 16.924
4/03/00 15,000 16.833
4/04/00 88,000 16.921
Daniel R. Tisch
Andrew H. Tisch
James S. Tisch
Thomas J. Tisch
(Acting jointly through Four Partners):
4/04/00 180,000 16.925
4/05/00 166,600 17.046
4/06/00 7,500 17.05
4/07/00 100,000 17.30
4/10/00 88,500 17.668
4/12/00 105,800 17.953
Mentor Partners, L.P., Mentor Offshore Fund Limited and Four Partners
have the right to receive dividends from and the proceeds from the sale of
securities held by each of them respectively.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Daniel R. Tisch, Thomas J. Tisch, Andrew H. Tisch and James S. Tisch
are brothers.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1. Agreement regarding the joint filing of this statement and any
amendments hereto.
Page 9 of 11 Pages
<PAGE>
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.
April 13, 2000
/s/ Daniel R. Tisch
-------------------
Daniel R. Tisch
/s/ Thomas J. Tisch
-------------------
Thomas J. Tisch
/s/ Andrew H. Tisch
-------------------
Andrew H. Tisch
/s/ James S. Tisch
------------------
James S. Tisch
Page 10 of 11 Pages
<PAGE>
AGREEMENT
In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act
of 1934, as amended, the undersigned hereby agree that this Schedule 13D dated
April 13, 2000 relating to the Common Stock, no par value, of Castle & Cooke,
Inc., as the same may be amended from time to time hereafter, is being filed
with the Securities and Exchange Commission on behalf of each of them.
April 13, 2000
/s/ Daniel R. Tisch
-------------------
Daniel R. Tisch
/s/ Thomas J. Tisch
-------------------
Thomas J. Tisch
/s/ Andrew H. Tisch
-------------------
Andrew H. Tisch
/s/ James S. Tisch
------------------
James S. Tisch
Page 11 of 11 Pages
