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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Continental Bank Corporation
- -----------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- ----------------------------------------------------------------------------
(Title Of Class of Securities)
211113105
------------------------------------
(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).
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CUSIP No. 211113105 13G Page 2 of 11 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Merrill Lynch & Co., Inc.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing (a) [_]
(b) [_]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5 SOLE VOTING POWER
None
6 SHARED VOTING POWER
4,623,775
7 SOLE DISPOSITIVE POWER
None
8 SHARED DISPOSITIVE POWER
4,623,775
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,623,775
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.7%
12 TYPE OF REPORTING PERSON*
HC, CO
*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 211113105 13G Page 3 of 11 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Merrill Lynch Group, Inc.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing (a) [_]
(b) [_]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5 SOLE VOTING POWER
None
6 SHARED VOTING POWER
4,620,075
7 SOLE DISPOSITIVE POWER
None
8 SHARED DISPOSITIVE POWER
4,620,075
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,620,075
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.7%
12 TYPE OF REPORTING PERSON*
HC, CO
*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 211113105 13G Page 4 of 11 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Princeton Services, Inc.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing (a) [_]
(b) [_]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5 SOLE VOTING POWER
None
6 SHARED VOTING POWER
4,618,000
7 SOLE DISPOSITIVE POWER
None
8 SHARED DISPOSITIVE POWER
4,618,000
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,618,000
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.7%
12 TYPE OF REPORTING PERSON*
HC, CO
*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 211113105 13G Page 5 of 11 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Merrill Lynch Asset Management, L.P.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing (a) [_]
(b) [_]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5 SOLE VOTING POWER
None
6 SHARED VOTING POWER
4,618,000
7 SOLE DISPOSITIVE POWER
None
8 SHARED DISPOSITIVE POWER
4,618,000
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,618,000
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.7%
12 TYPE OF REPORTING PERSON*
IA, PN
*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 211113105 13G Page 6 of 11 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Merrill Lynch Capital Fund, Inc.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing (a) [_]
(b) [_]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5 SOLE VOTING POWER
None
6 SHARED VOTING POWER
4,424,000
7 SOLE DISPOSITIVE POWER
None
8 SHARED DISPOSITIVE POWER
4,424,000
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,424,000
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.4%
12 TYPE OF REPORTING PERSON*
IV
*SEE INSTRUCTION BEFORE FILLING OUT!
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SCHEDULE 13G
Item 1 (a) Name of Issuer:
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Continental Bank Corporation
Item 1 (b) Address of Issuer's Principal Executive Offices:
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231 South La Salle Street
Chicago, IL 60697
Item 2 (a) Names of Persons Filing:
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Merrill Lynch & Co., Inc.
Merrill Lynch Group, Inc.
Princeton Services, Inc.
Merrill Lynch Asset Management, L.P.
Merrill Lynch Capital Fund, Inc.
Item 2 (b) Address of Principal Business Office, or, if None, Residence:
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Merrill Lynch & Co., Inc.
World Financial Center, North Tower
250 Vesey Street
New York, New York 10281
Merrill Lynch Group, Inc.
World Financial Center, North Tower
250 Vesey Street
New York, New York 10281
Princeton Services, Inc.
800 Scudders Mill Road
Plainsboro, New Jersey 08536
Merrill Lynch Asset Management, L.P.
800 Scudders Mill Road
Plainsboro, New Jersey 08536
Merrill Lynch Capital Fund, Inc.
800 Scudders Mill Road
Plainsboro, New Jersey 08536
Page 7 of 11 Pages
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Item 2 (c) Citizenship:
-----------
See Item 4 of Cover Pages
Item 2 (d) Title of Class of Securities:
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Common Stock
Item 2 (e) CUSIP Number:
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211113105
Item 3
Merrill Lynch & Co., Inc. ("ML&Co."), Merrill Lynch Group, Inc. ("ML
Group") and Princeton Services, Inc. ("PSI") are parent holding companies, in
accordance with (Section) 240.13d-1(b)(ii)(G). Merrill Lynch Asset Management,
L.P. (d/b/a Merrill Lynch Asset Management ("MLAM")) is an investment adviser
registered under (Section) 203 of the Investment Advisers Act of 1940. Merrill
Lynch Capital Fund, Inc. (the "Fund") is an investment company registered under
Section 8 of the Investment Company Act of 1940.
Item 4 Ownership
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(a) Amount Beneficially Owned:
See Item 9 of Cover Pages. Pursuant to (Section) 240.13d-4, ML&Co.,
ML Group, PSI, MLAM and the Fund (the "Reporting Persons") disclaim beneficial
ownership of the securities of Continental Bank Corporation referred to herein,
and the filing of this Schedule 13G shall not be construed as an admission that
the Reporting Persons are, for the purposes of Section 13(d) or 13(g) of the
Securities Exchange Act of 1934 (the "Act"), the beneficial owner of any
securities of Continental Bank Corporation (the "Company") covered by this
statement.
(b) Percent of Class:
See Item 11 of Cover Pages
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
See Item 5 of Cover Pages
(ii) shared power to vote or to direct the vote:
See Item 6 of Cover Pages
(iii) sole power to dispose or to direct the disposition of:
See Item 7 of Cover Pages
Page 8 of 11 Pages
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(iv) shared power to dispose or to direct the disposition of:
See Item 8 of Cover Pages
Item 5 Ownership of Five Percent or Less of a Class.
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Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person.
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Certain of the Company common stock which may be deemed to be
beneficially owned by ML&Co. may also be deemed to be beneficially owned by
Merrill Lynch, Pierce, Fenner & Smith ("MLPF&S"), a direct wholly-owned
subsidiary of ML&Co. which is a broker-dealer registered under Section 15 of the
Act. MLPF&S is a sponsor of various unit investment trusts ("UITs") which
invest in "equity securities" as defined in (Section) 240.13d-1(d). While the
UITs have the right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of, the securities reported herein, no
single UIT's interest relates to more than 5% of the class of securities
reported herein.
Certain of the Company common stock which may be deemed to be
beneficially owned by ML&Co. and ML Group may also be deemed to be benefically
owned by one or more Merrill Lynch trust companies ("the "Trusts"), each of
which is a direct wholly-owned subsidiary of ML Group and a bank as defined in
Section 3(a)(6) of the Act. While the Trusts have the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale of,
the securities reported herein, no such Trust's interest relates to more than 5%
of the class of securities reported herein.
MLAM is an investment adviser registered under Section 203 of the
Investment Advisers Act of 1940 and acts as an investment adviser to investment
companies registered under Section 8 of the Investment Company Act of 1940 and
as a discretionary adviser to one or wore unregistered investment accounts.
With respect to securities held by those investment companies or accounts,
several persons have the right to receive, or the power to direct the receipt of
dividends from, or the proceeds from the sale of, such securities. The Fund, a
reporting person on this Schedule 13G for which MLAM serves as investment
adviser, has an interest that relates to more than 5% of the class of securities
reported herein. No other person has an interest that relates to more than 5%
of the class of securities reported herein.
Item 7 Identification and Classification of the Subsidiary Which
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Acquired the Security Being Reported on by the Parent Holding
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Company.
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See Exhibit A
Item 8 Identification and Classification of Members of the Group.
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Not Applicable
Item 9 Notice of Dissolution of Group.
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Not Applicable
Page 9 of 11 Pages
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Item 10 Certification.
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By signing below each of the undersigned certifies that, to the best
of their 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 purposes or effect.
Signature.
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After reasonable inquiry and to the best of my knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: February 14, 1994 Merrill Lynch & Co., Inc.
/s/ David L. Dick
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Name: David L Dick
Title: Assistant Secretary
Merrill Lynch Group, Inc.
/s/ David L. Dick
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Name: David L. Dick
Title: Secretary
Princeton Services, Inc.
/s/ David L. Dick
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Name: David L. Dick
Title: Attorney-in-Fact*
Merrill Lynch Asset Management, L.P.
By: Princeton Services, Inc. (General Partner)
/s/ David L. Dick
-------------------------------------------------
Name: David L. Dick
Title: Attorney-in-Fact*
Merrill Lynch Capital Fund, Inc.
/s/ David L. Dick
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Name: David L. Dick
Title: Attorney-in-Fact**
_______________
* Signed pursuant to a power of attorney, dated February 10, 1994, included as
an exhibit to Schedule 13G filed with the Securities and Exchange Commission by
Merrill Lynch & Co., Inc., et. al. on February 14, 1994 with respect to Dial
REIT Inc.
** Signed pursuant to a power of attorney, dated February 10, 1994, included as
an exhibit to Schedule 13G filed with the Securities and Exchange Commission by
Merrill Lynch & Co., Inc., et. al. on February 14, 1994 with respect to Trident
Microsystems, Inc.
Page 10 of 11 Pages
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EXHIBIT A TO SCHEDULE 13G
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ITEM 7 DISCLOSURE RESPECTING SUBSIDIARIES
-----------------------------------------
Three of the persons filing this report, Merrill Lynch & Co., Inc., a
Delaware corporation with its principal place of business at World Financial
Center, North Tower, 250 Vesey Street, New York, New York ("ML&Co."), Merrill
Lynch Group, Inc., a Delaware corporation with its principal place of business
at World Financial Center, North Tower, 250 Vesey Street, New York, New York
("ML Group"), and Princeton Services, Inc. a Delaware corporation with its
principal place of business at 800 Scudders Mill Road, Plainsboro, New Jersey
("PSI"), are parent holding companies pursuant to (Section)240
13d-1(b)(1)(ii)(G). The relevant subsidiaries of ML&Co. are ML Group, Merrill
Lynch, Pierce, Fenner & Smith ("MLPF&S") and PSI, which is the general partner
of Merrill Lynch Asset Management, L.P. (d/b/a Merrill Lynch Asset Management)
("MLAM"). The relevant subsidiary of ML Group is PSI.
MLPF&S, a direct wholly-owned subsidiary of ML&Co. with its principal
place of business at World Financial Center, North Tower, 250 Vesey Street, New
York, New York, is a broker-dealer registered under section 15 of the Securities
Exchange Act of 1934 (the "Act"). MLPF&S may be deemed to be the beneficial
owner of certain common stock of Continental Bank Corporation (the "Company") by
virtue of its sponsorship of certain unit investment trusts ("UITs") which hold
Company common stock. No such UIT owns more than 5% of the Company's common
stock.
ML Group, a wholly-owned direct subsidiary of ML&Co., may be deemed to
be the beneficial owner of 8.7% of the common stock of the Company by virtue of
its control of PSI and one or more Merrill Lynch trust companies. The trust
companies, each of which is a wholly-owned direct subsidiary of ML Group and a
bank as defined in Section 3(a)(6) of the Act, own less than 5% of the common
stock of the Company.
PSI, a wholly-owned direct subsidiary of ML Group, may be deemed to be
the beneficial owner of 8.7% of the common stock of the Company by virtue of its
being the general partner of MLAM.
MLAM, a Delaware limited partnership with its principal place of
business at 800 Scudders Mill Road, Plainsboro, New Jersey, is an investment
adviser registered under Section 203 of the Investment Advisers Act of 1940.
MLAM may be deemed to be the beneficial owner of 8.7% of the common stock of the
Company as a result of acting as investment adviser to investment companies
registered under Section 8 of the Investment Company Act of 1940 and as a
discretion any adviser to one or more unregistered investment accounts.
One registered investment company advised by MLAM, Merrill Lynch
Capital Fund, Inc., is the beneficial owner of 8.4% of the common stock of the
Company.
The unregistered investment account advised by MLAM is the beneficial
owner of less than 0.1% of the common stock of the Company.
Pursuant to (Section) 240.13d-4, ML&Co., ML Group, MLPF&S, the Merrill
Lynch trust companies, PSI, MLAM, and the Fund disclaim beneficial ownership of
the securities of the Company, and the filing of this Schedule 13G shall not be
construed as an admission that any such entity is, for the purposes of Section
13(d) or 13(g) of the Act, the beneficial owner of any securities of the
Company.
Page 11 of 11 Pages
