<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
__________
SCHEDULE 13G
(Amendment No. 1)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 and 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
TeleSpectrum Worldwide Inc.
---------------------------
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
--------------------------------------
(Title of Class of Securities)
87951U109
---------
(CUSIP Number)
<PAGE>
- - ---------------------------- ---------------------
CUSIP NO. 87951U109 13G/A Page 2 of 15 Pages
- - ---------------------------- ---------------------
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSON.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Highfields Associates LLC
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 562,220
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 562,220
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
562,220
- - ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
1.7%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
12
CO
- - ------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 87951U109 13G/A Page 3 of 15 Pages
- - ---------------------------- ---------------------
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSON.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Highfields Capital Management LP
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 1,795,519
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 1,795,519
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,795,519
- - ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
12
PN
- - ------------------------------------------------------------------------------
<PAGE>
- - ---------------------------- ---------------------
CUSIP NO. 87951U109 13G/A Page 4 of 15 Pages
- - ---------------------------- ---------------------
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSON.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Highfields GP LLC
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 1,795,519
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 1,795,519
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,795,519
- - ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
12
00
- - ------------------------------------------------------------------------------
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CUSIP NO. 87951U109 13G/A Page 5 of 15 Pages
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- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSON.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jonathon S. Jacobson
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 1,795,519
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 1,795,519
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,795,519
- - ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
12
IN
- - ------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 87951U109 13G/A Page 6 of 15 Pages
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- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSON.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard L. Grubman
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 1,795,519
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 1,795,519
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,795,519
- - ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
12
IN
- - ------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 87951U109 13G/A Page 7 of 15 Pages
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ITEM 1(a). NAME OF ISSUER:
TeleSpectrum Worldwide Inc.
------------------------------------------------
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
443 South Gulph Road, King of Prussia, Pennsylvania 19406
---------------------------------------------------------
ITEM 2(a). NAME OF PERSON FILING:
This statement is being filed by Highfields Associates LLC, a
limited liability company formed under the laws of the State of
Delaware ("Highfields Associates"), with respect to the shares of
Common Stock directly owned by the two limited partnerships
organized under the laws of the State of Delaware for which it
serves as the general partner: Highfields Capital I LP and
Highfields Capital II LP.
This statement is being filed by the following persons with
respect to the shares of common stock of the Issuer directly owned
by Highfields Capital I LP, Highfields Capital II LP and
Highfields Capital Ltd. (collectively, the "Funds"):
(i) Highfields Capital Management LP, a Delaware limited
partnership ("Highfields Capital Management") and Investment
Manager to each of the Funds,
(ii) Highfields GP LLC, a Delaware limited liability company
("Highfields GP") and the General Partner of Highfields Capital
Management,
(iii) Jonathon S. Jacobson, a Managing Member of Highfields GP,
and
(iv) Richard L. Grubman, a Managing Member of Highfields GP.
Highfields Capital Management, Highfields GP, Mr. Jacobson and
Mr. Grubman are sometimes individually referred to herein as a
"Reporting Person" and collectively as the "Reporting Persons."
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
Address for Highfields Associates, Highfields Capital Management,
Highfields GP, Mr. Jacobson and Mr. Grubman:
c/o Highfields Capital Management LP, 200 Clarendon Street,
Boston, Massachusetts 02117
---------------------------
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CUSIP NO. 87951U109 13G/A Page 8 of 15 Pages
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ITEM 2(c). CITIZENSHIP:
Highfields Associates - Delaware
Highfields Capital Management - Delaware
Highfields GP - Delaware
Richard L. Grubman - United States
Jonathon S. Jacobson - United States
------------------------------------
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.01 per share
--------------------------------------
ITEM 2(e). CUSIP NUMBER:
87951U109
-------------
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR 13D-2(B),
CHECK WHETHER THE PERSON FILING IS A:
(a) [_] Broker or dealer registered under Section 15 of the Exchange
Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of the
Exchange Act.
(d) [_] Investment company registered under Section 8 of the
Investment Company Act.
(e) [_] An investment adviser in accordance with Rule 13d-
1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this
box.[_]
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CUSIP NO. 87951U109 13G/A Page 9 of 15 Pages
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ITEM 4. OWNERSHIP.
If the percent of the class owned, as of December 31 of the year covered by
the statement, or as of the last day of any month described in Rule 13d-1
(b)(2), if applicable, exceeds five percent, provide the following information
as of that date and identify those shares which there is a right to acquire.
For Highfields Associates LLC:
(a) Amount beneficially owned:
562,220 shares of Common Stock
------------------------------
(b) Percent of class:
1.7%
-----------
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 562,220
-------
(ii) Shared power to vote or to direct the vote --0--
--------------
(iii) Sole power to dispose or to direct the disposition of 562,220
-------
(iv) Shared power to dispose or to direct the disposition of --0--
------------
For Highfields Capital Management, Highfields GP, Mr. Jacobson and Mr. Grubman:
(a) Amount beneficially owned:
1,795,519 shares of Common Stock
--------------------------------
(b) Percent of class: 5.5%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 1,795,519
---------
(ii) Shared power to vote or to direct the vote --0--
--------------
(iii) Sole power to dispose or to direct the disposition of 1,795,519
----------
(iv) Shared power to dispose or to direct the disposition of --0--
------------
<PAGE>
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CUSIP NO. 87951U109 13G/A Page 10 of 15 Pages
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ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Highfields Associates LLC is the beneficial owner of less than 5% of
the shares of common stock of the Issuer.
Highfields Associates LLC, Highfields Capital Management LP, Richard L.
Grubman and Jonathon S. Jacobson no longer act as a group for the
purposes of Rule 13d.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
The shares to which this filing relates are beneficially owned by the
Funds, each of which has the power to direct the dividends from or the
proceeds of the sale of the shares owned by such Fund and none of which
owns 5% or more of the securities to which this filing pertains.
Highfields Capital Management serves as the Investment Manager to each
of the Funds.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Highfields Associates LLC, Highfields Capital Management LP, Richard L.
Grubman and Jonathon S. Jacobson have dissolved as a group as of
November 30, 1999. See Exhibit A.
The Reporting Persons have agreed to file a joint schedule 13G as
individuals. See Exhibit B.
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
<PAGE>
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CUSIP NO. 87951U109 13G/A Page 11 of 15 Pages
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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.
February 14, 2000
-------------------------------------
Date
HIGHFIELDS CAPITAL MANAGEMENT LP
By: Highfields GP LLC, its General Partner
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Authorized Signatory
----------------------------------------
Name/Title
HIGHFIELDS GP LLC
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Authorized Signatory
----------------------------------------
Name/Title
RICHARD L. GRUBMAN
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Attorney-in-Fact
------------------------------------
Name/Title
<PAGE>
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CUSIP NO. 87951U109 13G/A Page 12 of 15 Pages
- - ---------------------------- ---------------------
EXHIBIT A
---------
AGREEMENT REGARDING DISSOLUTION OF A GROUP UNDER RULE 13D OF THE RULES UNDER THE
EXCHANGE ACT OF 1934, AS AMENDED
Highfields Associates LLC, Highfields Capital Management LP, Richard L.
Grubman and Jonathon S. Jacobson hereby agree that as of November 30, 1999, they
dissolved their status as a group under Rule 13d of the Rules under the Exchange
Act of 1934, as amended ("Rule 13d"), with respect to the shares of Common Stock
of TeleSpectrum Worldwide Inc. beneficially owned by each of them. Each of the
parties further agrees that it or he will file, in its or his individual
capacity, all further filings with respect to transactions in the shares of
common stock of TeleSpectrum Worldwide Inc.
HIGHFIELDS ASSOCIATES LLC
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Authorized Signatory
----------------------------------------
Name/Title
HIGHFIELDS CAPITAL MANAGEMENT LP
By: Highfields GP LLC, its General Partner
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn,
Chief Operating Officer
Highfields Capital Management, Authorized Signatory
---------------------------------------------------
Name/Title
RICHARD L. GRUBMAN
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Attorney-in-Fact
------------------------------------
Name/Title
<PAGE>
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CUSIP NO. 87951U109 13G/A Page 13 of 15 Pages
- - ---------------------------- ---------------------
JONATHON S. JACOBSON
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Attorney-in-Fact
------------------------------------
Name/Title
<PAGE>
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CUSIP NO. 87951U109 13G/A Page 14 of 15 Pages
- - ---------------------------- ---------------------
EXHIBIT B
---------
AGREEMENT REGARDING JOINT FILINGUNDER RULE 13D OF THE RULES UNDER THE EXCHANGE
ACT OF 1934, AS AMENDED
Highfields Capital Management LP, Highfields GP LLC, Richard L. Grubman and
Jonathon S. Jacobson hereby agree to file one Schedule 13G for the common stock
of TeleSpectrum Worldwide Inc. on each of their behalf, in their individual
capacity. The parties hereby agree that they are each responsible for the
accuracy and completeness of the Schedule 13 G.
HIGHFIELDS CAPITAL MANAGEMENT LP
By: Highfields GP LLC, its General Partner
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn,
Chief Operating Officer
Highfields Capital Management, Authorized Signatory
---------------------------------------------------
Name/Title
HIGHFIELDS GP LLC
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Authorized Signatory
----------------------------------------
Name/Title
RICHARD L. GRUBMAN
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Attorney-in-Fact
------------------------------------
Name/Title
<PAGE>
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CUSIP NO. 87951U109 13G/A Page 15 of 15 Pages
- - ---------------------------- ---------------------
JONATHON S. JACOBSON
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Attorney-in-Fact
------------------------------------
Name/Title
