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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
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INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO.)*
Crown Cork & Seal Company, Inc.
(NAME OF ISSUER)
4.50% Convertible Preferred, Due 2000
(TITLE OF CLASS OF SECURITIES)
228255303
(CUSIP NUMBER)
July 31, 1998
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which the
Schedule is filed.
[ X ] Rule 13d -1(b)
[ ] 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 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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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
D. E. Shaw Investments, L.P.
13-3470777
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [x]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
SHARES -0-
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BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 321,800
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EACH (7) SOLE DISPOSITIVE POWER
REPORTING -0-
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PERSON WITH (8) SHARED DISPOSITIVE POWER
321,800
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
321,800
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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)
2.60%
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(12) TYPE OF REPORTING PERSON **
BD
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CUSIP No. 228255303
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
D. E. Shaw Securities, L.P.
13-3497780
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
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(b) [x]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
SHARES -0-
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BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 1,074,200
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EACH (7) SOLE DISPOSITIVE POWER
REPORTING -0-
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PERSON WITH (8) SHARED DISPOSITIVE POWER
1,074,200.
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,074,200.
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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)
8.66%
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(12) TYPE OF REPORTING PERSON **
BD
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CUSIP No. 541509402
_____________________________________________________________________________(1)
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
David E. Shaw
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [x]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
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United States
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NUMBER OF (5) SOLE VOTING POWER
SHARES -0-
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BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 1,396,000
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EACH (7) SOLE DISPOSITIVE POWER
REPORTING -0-
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PERSON WITH (8) SHARED DISPOSITIVE POWER
1,396,000
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,396,000
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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)
11.26%
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(12) TYPE OF REPORTING PERSON **
IN
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ITEM 1(a). NAME OF ISSUER:
Crown Cork & Seal Company, Inc. (the "Company")
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
One Crown Way Philadelphia, PA 19154 - 4599
ITEM 2(a). NAME OF PERSON FILING:
D. E. Shaw Investments, L.P. ("Investments")
D. E. Shaw Securities, L.P. ("Securities")
David E. Shaw ("David Shaw")
ITEM 2(b). ADDRESS OF PRINCIPAL OFFICE OR, IF NONE, RESIDENCE:
120 West 45th Street, 39th Floor, Tower 45, New York, NY
10036
ITEM 2(c). CITIZENSHIP:
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Investments is a limited partnership organized under the
laws of the State of Delaware.
Securities is a limited partnership organized under the
laws of the State of Delaware.
David E. Shaw is a citizen of the United States.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
4.50% Convertible Preferred, Due 2000
ITEM 2(e). CUSIP NUMBER:
228255303
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) [x] Broker or dealer registered under Section
15 of 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
(e) [ ] 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)
(g) [ ] Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G); see item 7
(h) [ ] A Savings Association as defined in section 3 (b) of
the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A Church Plan that is excluded from the definition
of an investment company under section 3 (c) (14) of the
Investment Company Act of 1940 (15 U.S.C. 80a -3); and
(j) [ ] A Group, provided that all the members are persons
specified in accordance with section 240.13d -
1(b)(1)(ii)(A) through (I)
If this statement is filed pursuant to Rule 13d - 1 (c),
check this box. [ ]
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ITEM 4. OWNERSHIP.
(a) Amount beneficially owned:
Investments: 321,800
Securities: 1,074,200
David Shaw: 1,396,000
(b) Percent of class:
Investments: 2.60%
Securities: 8.66%
David Shaw: 11.26%(based on the 12,400,000 shares outstanding
reported by the Company).
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
Investments: -0-
Securities: -0-
David Shaw: -0-
(ii) shared power to vote or to direct the vote
Investments: 1,396,000
Securities: 1,396,000
David Shaw: 1,396,000
(iii) sole power to dispose or to direct the disposition
of
Investments: -0-
Securities: -0-
David Shaw: -0-
(iv) shared power to dispose or to direct the disposition
of
Investments: 1,396,000
Securities: 1,396,000
David Shaw: 1,396,000
David Shaw owns directly no Shares. By reason of Rule 13-d -3 under the
Securities Exchange Act of 1934 and by virtue of David Shaw's position as
President and sole shareholder of D. E. Shaw & Co., Inc., the general partner
of D. E. Shaw & Co., L. P., itself the general partner of Investments and
Securities, David Shaw may be deemed to own beneficially 1,396,000 Shares,
comprising the 321,800 Shares owned directly by Investments and the 1,074,200
Shares owned directly by Securities. Therefore, David Shaw may be deemed to
beneficially own approximately 11.26% of the outstanding shares. David Shaw
disclaims beneficial ownership of such 1,396,000 shares.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not applicable
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ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON.
No person other than each respective owner and general partner referred to
herein is known to have the right to receive or the power to direct the receipt
of dividends from, or the proceeds of the sale of, the Shares.
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. (if filing pursuant to Rule 13d- 1(b))
By signing below D. E. Shaw Investments, L. P., D. E. Shaw Securities, L. P. and
David E. Shaw certify that, to the best of their knowledge and belief, the
securities referred to above were acquired in the ordinary course of business,
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.
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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.
August 10, 1998
D. E. SHAW INVESTMENTS, L.P.
By: D. E. SHAW & CO., L.P.
General Partner
By: /s/ Daniel Fishbane
(Signature)
Daniel Fishbane/
Managing Director
(Name/Title)
D. E. SHAW SECURITIES, L.P.
By: D.E. SHAW & CO., L.P.
General Partner
By: /s/ Daniel Fishbane
(Signature)
Daniel Fishbane/
Managing Director
(Name/Title)
DAVID E. SHAW
/s/ DAVID E. SHAW
(Signature)
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POWER OF ATTORNEY
FOR CERTAIN FILINGS
UNDER THE SECURITES EXCHANGE ACT OF
1934
I, David E. Shaw, hereby make, constitute and appoint each of:
Lou Salkind,
Stu Steckler,
Anne Dinning and
Danny Fishbane,
acting individually, as my agent and attorney-in-fact, with full power of
substitution, for the purpose of, from time to time, executing in my name, my
individual capacity and/or my capacity as President of D. E. Shaw & Co., Inc.
(acting for itself or as the general partner of D. E. Shaw & Co., L. P.) all
documents, certificates, instruments, statements, other filings and amendments
to the foregoing (collectively, "documents") determined by such person to be
necessary or appropriate to comply with ownership or control-person reporting
requirements imposed by any United States or non-United States governmental or
regulatory authority, including without limitation Forms 3, 4, 5, 13D, 13F and
13G required to be filed with the Securities and Exchange commission; and
delivering, furnishing or filing any such documents with the appropriate
governmental or regulatory authority. Any such determination shall be
conclusively evidenced by such person's execution and delivery, furnishing or
filing of the applicable document.
This power of attorney shall be valid from the date hereof.
IN WITNESS WHEREOF, I have executed this instrument as of the date set forth
below.
Date: January 14, 1997
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DAVID E. SHAW
/s/David E. Shaw
New York, New York
