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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
WHITTAKER CORPORATION
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(Name of Issuer)
Shares of Common Stock, par value $0.01 per share
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(Title of Class of Securities)
767597107
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(CUSIP NUMBER)
BLAVIN & COMPANY, INC.
29621 Northwestern Highway
Southfield, Michigan 48034
Tel. No.: (248) 213-0457
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
- with copies to -
Eliot D. Raffkind, P.C.
Akin, Gump, Strauss, Hauer & Feld, L.L.P.
1700 Pacific Avenue, Suite 4100
Dallas, Texas 75201-4618
(214) 969-2800
December 15, 1998
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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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4) check the following box [ ]
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, as amended ("Act"), or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act.
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CUSIP No. 767597107 Page ___ of ___Pages
13D
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Blavin & Company, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF, WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 969,376
-----------------------------------------
OWNED BY
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 0
-----------------------------------------
9 SOLE DISPOSITIVE POWER
969,376
-----------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
969,376
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.54%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
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CUSIP No. 767597107 Page ___ of ___Pages
13D
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Paul W. Blavin
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF, WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 969,376
-----------------------------------------
OWNED BY
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 0
-----------------------------------------
9 SOLE DISPOSITIVE POWER
969,376
-----------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
969,376
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.54%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
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SCHEDULE 13D
This Schedule 13D (the "Schedule 13D") is being filed on
behalf of Blavin & Company, Inc., a Delaware corporation ("BCI"), and Mr. Paul
W. Blavin, the principal of BCI, relating to shares of Common Stock of Whittaker
Corporation (the "Issuer").
This Schedule 13D relates to shares of Common Stock of the
Issuer purchased by BCI for the account of (i) PWB Value Partners, L.P. ("PWB"),
of which BCI is the general partner, and (ii) four other accounts for which BCI
acts as investment advisor (collectively, the "Clients").
ITEM 1. SECURITY AND ISSUER
Securities acquired: Shares of Common Stock, par value $0.01
per share
Issuer: Whittaker Corporation
1955 North Surveyor Ave.
Simi Valley, CA 93063
Tel. No. (805) 526-5700
ITEM 2. IDENTITY AND BACKGROUND
Blavin & Company, Inc., a Delaware corporation, provides
investment management services to private individuals and institutions and is
located at 29621 Northwestern Highway, Southfield, MI 48034. Mr. Blavin is the
principal of BCI. The principal occupation of Mr. Blavin is investment
management, and he is a United States citizen. His business address is 29621
Northwestern Highway, Southfield, MI 48034. Neither BCI nor Mr. Blavin has been
convicted in a criminal proceeding during the last five years. Neither BCI nor
Mr. Blavin is and during the past five years was a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and, as a result
thereof, subject to any 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.
ITEM 3. SOURCE AND AMOUNT OF FUNDS
As of December 22, 1998, BCI had invested (i) $4,607,997.73
in shares of Common Stock through PWB and (ii) $2,082,837.89, $744,030.04,
$2,383,000.00 and $2,015,886.94 in shares of Common Stock through each of the
Clients, all as described in Item 5 below. The source of these funds was the
working capital of each of PWB and the Clients, as the case may be.
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ITEM 4. PURPOSE OF THE TRANSACTION
BCI and Mr. Blavin acquired shares of Common Stock for
portfolio investment purposes and do not have any present plans or proposals
that relate to or would result in any change in the business, policies,
management, structure or capitalization of the Issuer, but BCI and Mr. Blavin
reserve the right to consider or make such plans and/or proposals in the future.
BCI and Mr. Blavin reserve the right to acquire, or dispose of, additional
securities of the Issuer, in the ordinary course of business, to the extent
deemed advisable in light of BCI's general investment and trading policies,
market conditions or other factors. BCI may contact the Issuer and/or other
shareholders or third parties regarding potential strategies to increase
shareholder value. Other than as described above, neither BCI nor Mr. Blavin has
present plans or proposals which would result in any of the following:
1) any extraordinary corporate transaction, such as a
merger, reorganization or liquidation, involving the issuer or
any of its subsidiaries;
2) any sale or transfer of a material amount of assets of
the issuer or any of its subsidiaries;
3) any change in the present board of directors or
managers of the issuer;
4) any material change in the present capitalization or
dividend policy of the issuer;
5) any other material change in the issuer's business or
corporate structure;
6) any change in the issuer's charter, by-laws or
instruments corresponding thereto or other actions which may
impede the acquisition of control of the issuer by any person;
7) causing a class of securities of the issuer to be
delisted from a national securities exchange or to cease to be
authorized to be quoted in an interdealer quotation system of a
registered national securities association;
8) causing a class of securities of the issuer to become
eligible for termination of registration pursuant to Section
12(g)(4) of the Act; or
9) any action similar to any of those enumerated above.
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ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of December 22, 1998, BCI and Mr. Blavin are
beneficial owners of 969,376 shares of Common Stock of the Issuer or 8.54% of
the shares outstanding. The 969,376 shares described above are beneficially
owned by BCI and Mr. Blavin for the account of PWB and each of the Clients, as
the case may be.
The number of shares beneficially owned by BCI and Mr. Blavin
and the percentage of outstanding shares represented thereby have been computed
in accordance with Rule 13d-3 under the Act. The percentage of beneficial
ownership of BCI and Mr. Blavin on December 22, 1998 is based on 11,345,199
outstanding shares of Common Stock as of November 1, 1998 as reported in the
Issuer's Form 8-A filed with the Commission on November 30, 1998.
(b) BCI and Mr. Blavin for the account of each of PWB and the
Clients have the power to vote and dispose of the shares of Common Stock held by
each such entity.
(c) The transactions in the Issuer's securities by BCI during
the last sixty days are listed as Annex A attached hereto and made apart hereof.
(d) Not Applicable.
(e) Not Applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Not Applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Not Applicable.
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ANNEX A
<TABLE>
<CAPTION>
Transaction Buy/Sell Quantity Price per
Date (shares) Share ($)
-------------------------------------------------------------------
<S> <C> <C> <C> <C>
12/15/98 Buy 862,676 11.9150
</TABLE>
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: December 22, 1998
Blavin & Company, Inc.
By: /s/ Paul W. Blavin
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PAUL W. BLAVIN, President
/s/ Paul W. Blavin
--------------------------------
PAUL W. BLAVIN
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