<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
Pactiv Corporation
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(Name of Issuer)
Common Stock, Par Value $.01 Per Share
--------------------------------------
(Title of Class of Securities)
695257105
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(CUSIP Number)
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CUSIP No. 695257105 13G/A Page 2 of 12 Pages
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HIGHFIELDS CAPITAL MANAGEMENT LP
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER 13,076,000
SHARES ----------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER --0--
OWNED BY ----------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER 13,076,000
REPORTING ----------------------------------------------------------
PERSON WITH 8. SHARED DISPOSITIVE POWER --0--
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
13,076,000
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_]
CERTAIN SHARES
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.8%
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12. TYPE OF REPORTING PERSON
PN
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CUSIP No. 695257105 13G/A Page 3 of 12 Pages
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HIGHFIELDS GP LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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NUMBER OF 5. SOLE VOTING POWER 13,076,000
SHARES ----------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER --0--
OWNED BY ----------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER 13,076,000
REPORTING ----------------------------------------------------------
PERSON WITH 8. SHARED DISPOSITIVE POWER --0--
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
13,076,000
- -------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_]
CERTAIN SHARES
- -------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.8%
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12. TYPE OF REPORTING PERSON
OO
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CUSIP No. 695257105 13G/A Page 4 of 12 Pages
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JONATHON S. JACOBSON
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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
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NUMBER OF 5. SOLE VOTING POWER 13,076,000
SHARES ----------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER --0--
OWNED BY ----------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER 13,076,000
REPORTING ----------------------------------------------------------
PERSON WITH 8. SHARED DISPOSITIVE POWER --0--
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
13,076,000
- -------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_]
CERTAIN SHARES
- -------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.8%
- -------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------
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CUSIP No. 695257105 13G/A Page 5 of 12 Pages
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RICHARD L. GRUBMAN
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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. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
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NUMBER OF 5. SOLE VOTING POWER 13,076,000
SHARES ----------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER --0--
OWNED BY ----------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER 13,076,000
REPORTING ----------------------------------------------------------
PERSON WITH 8. SHARED DISPOSITIVE POWER --0--
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
13,076,000
- -------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_]
CERTAIN SHARES
- -------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.8%
- -------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------
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CUSIP No. 695257105 13G/A Page 6 of 12 Pages
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HIGHFIELDS CAPITAL LTD.
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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. CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
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NUMBER OF 5. SOLE VOTING POWER 9,400,160
SHARES ----------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER --0--
OWNED BY ----------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER 9,400,160
REPORTING ----------------------------------------------------------
PERSON WITH 8. SHARED DISPOSITIVE POWER --0--
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
9,400,160
- -------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_]
CERTAIN SHARES
- -------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.6%
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12. TYPE OF REPORTING PERSON
OO
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CUSIP No. 695257105 13G/A Page 7 of 12 Pages
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ITEM 1(a). NAME OF ISSUER:
Pactiv Corporation
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ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1900 West Field Court, Lake Forest, IL 60045
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ITEM 2(a). NAME OF PERSON FILING:
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.
This statement is also being filed by Highfields Capital Ltd., an
exempted limited company organized under the laws of the Cayman
Islands, with respect to the shares of common stock of the Issuer
owned by Highfields Capital Ltd.
Highfields Capital Management, Highfields GP, Mr. Jacobson, Mr.
Grubman and Highfields Capital Ltd. 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 Capital Management, Highfields GP, Mr.
Jacobson and Mr. Grubman:
c/o Highfields Capital Management
200 Clarendon Street
Boston, Massachusetts 02117
Address for Highfields Capital Ltd.:
c/o Goldman Sachs (Cayman) Trust, Limited
Harbour Centre, North Church Street
P.O. Box 896
George Town, Grand Cayman
Cayman Islands
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CUSIP No. 695257105 13G/A Page 8 of 12 Pages
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ITEM 2(c). CITIZENSHIP:
Highfields Capital Management - Delaware
Highfields GP - Delaware
Richard L. Grubman - United States
Jonathon S. Jacobson - United States
Highfields Capital Ltd. - Cayman Islands
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ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.01 per share
--------------------------------------
ITEM 2(e). CUSIP NUMBER:
695257105
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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
(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. 695257105 13G/A Page 9 of 12 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 Capital Management, Highfields GP, Mr. Jacobson and Mr. Grubman:
(a) Amount beneficially owned:
13,076,000 shares of Common Stock.
----------------------------------
(b) Percent of class:
7.8%
-----------
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 13,076,000
----------
(ii) Shared power to vote or to direct the vote --0--
--------------
(iii) Sole power to dispose or to direct the disposition of 13,076,000
----------
(iv) Shared power to dispose or to direct the disposition of --0--
----------
For Highfields Capital Ltd.:
(a) Amount beneficially owned:
9,400,160 shares of Common Stock.
---------------------------------
(b) Percent of class:
5.6%
--------------------------
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 9,400,160
---------
(ii) Shared power to vote or to direct the vote --0--
--------------
(iii) Sole power to dispose or to direct the disposition of 9,400,160
---------
(iv) Shared power to dispose or to direct the disposition of --0--
---------
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CUSIP No. 695257105 13G/A Page 10 of 12 Pages
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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.
The shares to which this filing by Highfields Capital Management,
Highfields GP, Mr. Jacobson and Mr. Grubman 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 Funds.
Highfields Capital Management serves as the Investment Manager to each
of the Funds. Highfields Capital Ltd., a reporting person herein, owns
5.6% of the shares of common stock of the Issuer; however, neither
Highfields Capital I LP nor Highfields Capital II LP individually owns
more than five percent of the shares of 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.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
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.
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CUSIP No. 695257105 13G/A Page 11 of 12 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
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Name/Title
HIGHFIELDS GP LLC
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn
Authorized Signatory
--------------------
Name/Title
JONATHON S. JACOBSON
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn
Attorney-in-Fact
----------------
Name/Title
RICHARD L. GRUBMAN
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn
Attorney-in-Fact
----------------
Name/Title
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CUSIP No. 695257105 13G/A Page 12 of 12 Pages
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HIGHFIELDS CAPITAL LTD.
By: Highfields Capital Management LP,
its Investment Manager
By: Highfields GP LLC,
its General Partner
/s/ KENNETH H. COLBURN
--------------------------------------
Signature
Kenneth H. Colburn
Authorized Signatory
--------------------------------
Name/ Title
