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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
BEI Technologies, Inc.
(Name of Issuer)
Common Stock, $.001 par value
(Title of Class of Securities)
05538P104
(CUSIP Number)
February 13, 1998
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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 the
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).
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CUSIP No. 05538P104 13G
- ---------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Daniel S. Loeb
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
None
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 381,400
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
381,400
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
381,400
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.30%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
2
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- -----------------------------
CUSIP No.05538P104 13G
- -----------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Third Point Management Company L.L.C.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
None
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 381,400
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
381,400
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
381,400
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.30%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
3
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Item 1(a): Name of Issuer:
- --------- --------------
BEI Technologies, Inc. (the "Company").
Item 1(b): Address of Issuer's Principal Executive Offices:
- --------- -----------------------------------------------
One Post Street, Suite 2500
San Francisco, California 94104
Items 2(a) Name of Person Filing; Address of Principal
and 2(b): Business Office:
- ---------- -------------------------------------------
This statement is filed by and on behalf of
(i) Daniel S. Loeb, in his capacity as the
managing member of Third Point Management
Company L.L.C. ("TPM") and (ii) TPM. The
principal business address of each reporting
person is 277 Park Avenue, 26th Floor, New
York, New York 10072.
The shares of Common Stock, par value $.001,
of the Company ("Common Stock") which are the
subject of this Statement are held directly
by the managed accounts for which TPM or Mr.
Loeb serves as discretionary investment
manager (collectively, the "Managed
Accounts").
Item 2(c): Citizenship:
- --------- -----------
Mr. Loeb is a United States citizen.
Item 2(d): Title of Class of Securities:
- --------- ----------------------------
Common stock, par value $.001 per share.
Item 2(e): CUSIP Number:
- --------- ------------
05538P104
Item 3: If this statement is filed pursuant to
- ------ Sec. 240.13d-1(c), check this box. [X]
--------------------------------------
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Items 4(a)-(c): Ownership:
- -------------- ---------
As of February 13, 1998:
(i) Mr. Loeb had beneficial ownership of
381,400 shares of Common Stock by virtue of
his position as the managing member of TPM
(381,400 shares of Common Stock or 5.30%).
Mr. Loeb shares voting power and dispositive
power over the shares of Common Stock
described above with TPM.
(ii) TPM had beneficial ownership of 381,400
shares of Common Stock by virtue of its
position as discretionary investment manager
to the Managed Accounts holding such shares
of Common Stock. Such shares represent 5.30%
of the issued and outstanding Common Stock.
TPM shares voting power and dispositive power
over such shares with Mr. Loeb.
The percentages used herein are calculated
based upon the 7,198,850 shares of Common
Stock stated to be issued and outstanding as
of January 20, 1998, as reflected in the
Company's Quarterly Report on Form 10-Q for
the three months ended December 27, 1997.
Item 5: Ownership of Five Percent or Less of a Class:
- ------ --------------------------------------------
Not Applicable.
Item 6: Ownership of More than Five Percent on
- ------ Behalf of Another Person:
--------------------------------------
No person other than the Managed Accounts is
known to have the right to receive or the
power to direct the receipt of dividends from
or the proceeds of sale of shares of Common
Stock, except that the respective
shareholders, partners or owners, as
relevant, of the Managed Accounts have the
right to participate in the receipt of
dividends from, or proceeds upon the sale of,
the shares of Common Stock held for their
respective accounts.
Item 7: Identification and Classification of the
- ------ Subsidiary Which Acquired the Security Being
Reported on By the Parent Holding Company:
--------------------------------------------
Not Applicable.
5
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Item 8: Identification and Classification of
- ------ Members of the Group:
------------------------------------
Not Applicable.
Item 9: Notice of Dissolution of Group:
- ------ ------------------------------
Not Applicable.
Item 10: Certification:
- ------- -------------
By signing below each of the undersigned
certifies that, to the best of the
undersigned's 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.
6
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SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, each of the undersigned certifies that the information set forth in
this statement is true, complete and correct.
Dated: February 24, 1998
THIRD POINT MANAGEMENT COMPANY L.L.C.
By: /s/ Daniel S. Loeb
Daniel S. Loeb
Managing Member
/s/ Daniel S. Loeb
Daniel S. Loeb
7
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EXHIBIT INDEX
Exhibit A: Joint Filing Agreement, dated February 24, 1998,
among the signatories to this Schedule 13G.
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Exhibit A
---------
JOINT FILING AGREEMENT
PURSUANT TO RULE 13d-1(k)(1)
The undersigned acknowledge and agree that the foregoing
statement on Schedule 13G is filed on behalf of each of the undersigned and that
all subsequent amendments to this statement on Schedule 13G shall be filed on
behalf of each of the undersigned without the necessity of filing additional
joint filing agreements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning it contained therein, but shall not
be responsible for the completeness and accuracy of the information concerning
the others, except to the extent that it knows or has reason to believe that
such information is inaccurate. This Agreement may be executed in any number of
counterparts and all of such counterparts taken together shall constitute one
and the same instrument.
Dated: February 24, 1998
THIRD POINT MANAGEMENT COMPANY L.L.C.
By:/s/ Daniel S. Loeb
Daniel S. Loeb
Managing Member
/s/ Daniel S. Loeb
Daniel S. Loeb
