UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
---
Wang Laboratories, Inc.
------------------------------
(Name of Issuer)
Common Stock, $.01 par value
------------------------------
(Title of Class of Securities)
93369N109
-------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 in 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).
<PAGE>
- ------------------------- ---------------------------
|CUSIP NO. 93369N109 | 13G | Page 1 of 3 Pages
| ----------- | | --- ---
- ------------------------- ---------------------------
|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | Boston Partners Asset Management, L.P. |
| | 04-327-0358 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | (b) [ ] |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | Delaware |
|--------|----------|-------|--------------------------------------------------|
| | 5 | SOLE VOTING POWER |
| | | -0- shares |
| NUMBER OF |-------|--------------------------------------------------|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | 3,844,355 shares upon exercise of 2,025 warrants.|
| OWNED BY |-------|--------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- shares |
| PERSON |-------|--------------------------------------------------|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | 3,844,355 shares upon exercise of 2,025 warrants.|
|--------|---------------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 3,844,355 shares upon exercise of 2,025 warrants. |
|--------|---------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ] |
| | SHARES* |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | 10.1% |
|--------|---------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON * |
| | IA |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ------------------------- ---------------------------
|CUSIP NO. 93369N109 | 13G | Page 2 of 3 Pages
| ----------- | | --- ---
- ------------------------- ---------------------------
|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | Boston Partners, Inc. |
| | 04-326-9861 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | (b) [ ] |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | Delaware |
|-----------------|--------|---------------------------------------------------|
| | 5 | SOLE VOTING POWER |
| | | -0- shares |
| NUMBER OF |--------|---------------------------------------------------|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | 3,844,355 shares upon exercise of 2,025 warrants.|
| OWNED BY |--------|---------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- shares |
| PERSON |--------|---------------------------------------------------|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | 3,844,355 shares upon exercise of 2,025 warrants.|
|------------------------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 3,844,355 shares upon exercise of 2,025 warrants. |
|--------|---------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ] |
| | SHARES* |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | 10.1% |
|--------|---------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON * |
| | CO |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ------------------------- ---------------------------
|CUSIP NO. 93369N109 | 13G | Page 3 of 3 Pages
| ----------- | | --- ---
- ------------------------- ---------------------------
|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | Desmond John Heathwood |
| | ###-##-#### |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | (b) [ ] |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | United States |
|-----------------|--------|---------------------------------------------------|
| | 5 | SOLE VOTING POWER |
| | | -0- shares |
| NUMBER OF |--------|---------------------------------------------------|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | 3,844,355 shares upon exercise of 2,025 warrants.|
| OWNED BY |--------|---------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- shares |
| PERSON |--------|---------------------------------------------------|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | 3,844,355 shares upon exercise of 2,025 warrants.|
|------------------------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 3,844,355 shares upon exercise of 2,025 warrants. |
|--------|---------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ] |
| | SHARES* |
| | Not applicable |
|--------|---------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | 10.1% |
|--------|---------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON * |
| | IN |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1(a). Name of Issuer:
---------------
Wang Laboratories, Inc. (the "Issuer").
Item 1(b). Address of Issuer's Principal Executive Offices:
------------------------------------------------
600 Technology Park Drive, Billerica, MA 01821
Item 2(a). Names of Persons Filing:
------------------------
Boston Partners Asset Management, L.P. ("BPAM"), Boston Partners,
Inc. ("Boston Partners"), and Desmond John Heathwood. BPAM, Boston
Partners, and Mr. Heathwood are sometimes referred to collectively
herein as the "Reporting Persons."
Item 2(b). Address of Principal Business Office or, if None, Residence:
------------------------------------------------------------
The address of the principal business office of BPAM, Boston
Partners, and Mr. Heathwood is One Financial Center, 43rd Floor,
Boston, MA 02111.
Item 2(c). Citizenship:
-----------
BPAM is a Delaware limited partnership. Boston Partners is a
Delaware corporation. Mr. Heathwood is a United States citizen.
Item 2(d). Title of Class of Securities:
-----------------------------
Common Stock, $.01 par value ("Common Stock").
Item 2(e). CUSIP Number: 93369N109
-------------
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
Securities Exchange Act of 1934 (the "Act").
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance Company as defined in Section 3(a)(19) of
the Act.
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940.
(e) [X] Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see
Rule 13d-1(b)(1)(ii)(F) of the Act.
(g) [ ] Parent Holding Company, in accordance with
Rule 13d-1(b)(ii)(G) of the Act.
<PAGE>
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H) of
the Act.
Item 4. Ownership.
----------
(a) Amount Beneficially Owned: Each of the Reporting Persons
may be deemed to own beneficially 3,844,355 shares of
Common Stock at January 31, 1997.
BPAM owns of record 3,842,330 shares of Common Stock.
BPAM owns a record 2,025 Warrants to purchase shares of
Common Stock (the "Warrants") of the Issuer. Upon
exercise of the presently exercisable Warrants, BPAM may
acquire 2,025 shares of Common Stock, and BPAM may be
deemed to own beneficially 2,025 shares of Common Stock
related thereto. Therefore, BPAM may be deemed to own
beneficially a total of 3,844,355 shares of Common
Stock. As sole general partner of BPAM, Boston Partners
may be deemed to own beneficially all of the shares of
Common Stock that BPAM may be deemed to own
beneficially. As principal stockholder of Boston
Partners, Mr. Heathwood may be deemed to own
beneficially all of the Common Stock that Boston
Partners may be deemed to own beneficially. Therefore,
each of the Reporting Persons may be deemed to own
beneficially 3,844,355 shares of Common Stock of the
Issuer.
(b) Percent of Class: 10.1% for all Reporting Persons. The
foregoing percentage is calculated based on the
38,165,352 shares of Common Stock reported to be
outstanding in the Form 10Q for the quarter ended
September 30, 1997.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0
shares for all Reporting Persons.
(ii) shared power to vote or to direct the vote:
3,844,355 shares for all Reporting Persons.
(iii) sole power to dispose or to direct the
disposition of: 0 shares for all Reporting
Persons.
(iv) shared power to dispose or to direct the
disposition of: 3,844,355 shares for all
Reporting Persons.
Pursuant to Rule 13d-4, each of Boston Partners and Mr.
Heathwood expressly disclaims beneficial ownership of
any shares of Common Stock of the Issuer.
<PAGE>
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.
-----------------------------------------------------------------
BPAM holds all of the above 3,844,355 shares under management for
its clients, who have the right to direct the receipt of dividends,
to receive dividends from such shares and to receive the proceeds
from the sale of such shares. None of these clients holds more than
five percent of the Common Stock of the Issuer.
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. BPAM, Boston Partners and Mr. Heathwood expressly
disclaim membership in a "group" as defined in Rule 13d-5(b)(1).
Item 9. Notice of Dissolution of Group.
-------------------------------
Not applicable.
Item 10. Certification.
--------------
By signing below we certify that, to the best of our knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose of
and do not have the effect of changing or influencing the control of
the issuer of such securities and were not acquired in connection
with or as a participant in any transaction having such purpose or
effect.
<PAGE>
SIGNATURE
---------
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct. We also hereby agree to file this statement jointly pursuant to the
agreement set forth as Exhibit 1 hereto.
Dated: February 6, 1998
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.,
its general partner
By: /s/ Desmond J. Heathwood
---------------------------
Desmond John Heathwood
President
BOSTON PARTNERS, INC.
By: /s/ Desmond J. Heathwood
---------------------------
Desmond John Heathwood
President
/s/ Desmond J. Heathwood
- ---------------------------
Desmond John Heathwood
<PAGE>
Exhibit 1
---------
AGREEMENT
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
the undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed with respect to the ownership by each of
the undersigned of shares of Common Stock of Wang Laboratories, Inc.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original.
EXECUTED this 6th day of February, 1998.
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.
its general partner
By: /s/ Desmond J. Heathwood
---------------------------
Desmond John Heathwood
President
BOSTON PARTNERS, INC.
By: /s/ Desmond J. Heathwood
---------------------------
Desmond John Heathwood
President
/s/ Desmond J. Heathwood
- --------------------------
Desmond John Heathwood
<PAGE>
SIGNATURE
---------
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct. We also hereby agree to file this statement jointly pursuant to the
agreement set forth as Exhibit 1 hereto.
Dated: February 6, 1998
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.,
its general partner
By: /s/ Desmond John Heathwood
---------------------------
Desmond John Heathwood
President
BOSTON PARTNERS, INC.
By: /s/ Desmond John Heathwood
---------------------------
Desmond John Heathwood
President
/s/ Desmond John Heathwood
- ---------------------------
Desmond John Heathwood
<PAGE>
Exhibit 1
---------
AGREEMENT
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
the undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed with respect to the ownership by each of
the undersigned of shares of Common Stock of Wang Laboratories, Inc.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original.
EXECUTED this 6th day of February, 1998.
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.
its general partner
By: /s/ Desmond John Heathwood
---------------------------
Desmond John Heathwood
President
BOSTON PARTNERS, INC.
By: /s/ Desmond John Heathwood
---------------------------
Desmond John Heathwood
President
/s/ Desmond John Heathwood
- ---------------------------
Desmond John Heathwood
