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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
(Amendment No. 2)
THE DEXTER CORPORATION
----------------------
(Name of Issuer)
Common Stock, Par Value $1
--------------------------
(Title of Class of Securities)
252165-10-5
-----------
(CUSIP Number)
Murray A. Indick
Richard C. Blum & Associates, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
----------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 21, 1997
--------------
(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 [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are
to be sent.
*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
disclosures provided in a prior cover page.
The information required on 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 1 of 16
<PAGE> 2
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 2 of 16
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BK CAPITAL PARTNERS IV, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3139027
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 878,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 878,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 878,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 3 of 16
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON STINSON CAPITAL PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3432358
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 878,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 878,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 878,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 4 of 16
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON THE CARPENTERS PENSION TRUST
FOR SOUTHERN CALIFORNIA
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-6042875
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 878,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 878,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 878,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON EP
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 5 of 16
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON INSURANCE COMPANY SUPPORTED
ORGANIZATIONS PENSION PLAN
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 13-6284703
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 878,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 878,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 878,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON EP
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 6
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 6 of 16
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* Not Applicable
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 878,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 878,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 878,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 7
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 7 of 16
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* Not Applicable
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 878,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 878,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 878,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 8
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 8 of 16
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ###-##-####
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* Not Applicable
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 878,500**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 878,500**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 878,500**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 9
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 9 of 16
Item 1. Security and Issuer
- ----------------------------
This Schedule 13D relates to shares of common stock, par value $1 (the "Common
Stock") of The Dexter Corporation, a Connecticut corporation (the "Issuer").
The principal executive office and mailing address of the Issuer is One Elm
Street, Windsor Locks, Connecticut 06096. This Schedule 13D is being filed
because of certain sales set forth in Item 5(c) below which have reduced the
holdings of Reporting Persons to less than five percent (5%) of issued and
outstanding shares.
Item 2. Identity and Background
- --------------------------------
This Schedule 13D is filed on behalf of BK Capital Partners IV, L.P., a
California limited partnership ("BK IV"); Stinson Capital Partners L.P., a
California limited partnership ("Stinson"); Insurance Company Supported
Organizations Pension Plan ("ICSOPP"); The Carpenters Pension Trust for
Southern California (the "Carpenters Trust"); Richard C. Blum & Associates,
L.P., a California limited partnership ("RCBA L.P."); Richard C. Blum &
Associates, Inc., a California corporation ("RCBA Inc."); and Richard C. Blum,
the Chairman and a substantial shareholder of RCBA Inc.
BK IV and Stinson are each a California limited partnership whose principal
business is investing in securities, and whose principal office is located at
909 Montgomery Street, Suite 400, San Francisco, California 94133. RCBA L.P.
is the sole general partner of BK IV and Stinson and an investment advisor to
The Carpenters Trust and ICSOPP.
RCBA L.P. is a California limited partnership whose principal business is
acting as general partner for investment partnerships and providing investment
advisory and financial consulting services. RCBA L.P. is a registered
investment adviser with the Securities and Exchange Commission and with the
State of California. The sole general partner of RCBA L.P. is RCBA Inc. The
principal business office address of RCBA L.P. and RCBA Inc. is 909 Montgomery
Street, Suite 400, San Francisco, California 94133. The names of the
executive officers and directors of RCBA Inc., their addresses, citizenship
and principal occupations are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman
President, Chairman Suite 400 RCBA L.P.
and Director San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. Norway Managing Director
Managing Director Suite 400 RCBA L.P.
and Director San Francisco, CA 94133
<PAGE> 10
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 10 of 16
Jeffrey W. Ubben 909 Montgomery St. USA Managing Director
Managing Director Suite 400 of Investments,
of Investments San Francisco, CA 94133 RCBA L.P.
George F. Hamel, Jr. 909 Montgomery St. USA Managing Director
Managing Director Suite 400 of Marketing,
of Marketing San Francisco, CA 94133 RCBA L.P.
Marc T. Scholvinck 909 Montgomery St. USA Managing Director
Managing Director Suite 400 and Chief Financial
and Chief Financial San Francisco, CA 94133 Officer,
Officer RCBA, L.P.
Thomas L. Kempner 40 Wall Street USA Chairman, Loeb
Director New York, NY 10005 Partners Corporation,
Investment Banking
Business
The Carpenters Trust is a trust, governed by a board of trustees. Its
principal office is located at 520 South Virgil Avenue, 4th Floor, Los
Angeles, California 90020. The names of the executive officers and trustees
of the Carpenters Trust, their addresses, citizenship and principal occupation
are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Kim Fromer 22225 Acorn Street USA President,
Trustee Chatsworth, CA 91311 Fromer, Inc.
Curtis Conyers, Jr. 4719 Exposition Blvd. USA President,
Trustee Los Angeles, CA 90016 Richard Lane Company
Richard Harris 292 North Wilshire USA General Manager,
Trustee Anaheim, CA 92801 Wesseln Construction
Company, Inc.
Ralph Larison 1925 Water Street USA President,
Trustee Long Beach, CA 90802 Connolly-Pacific Co.
Bert Lewitt 2901 28th Street USA President, Morley
Trustee Santa Monica, CA 90405 Construction Co.
Ronald W. Tutor 15901 Olden Street USA President,
Co-Chairman, Sylmar, CA 91342 Tutor-Saliba Corp.
Trustee
J.D. Butler 412 Dawson Drive USA Treasurer,
Trustee Camarillo, CA 93010 Gold Coast District
Council of
Carpenters
<PAGE> 11
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 11 of 16
Douglas J. McCarron 520 South Virgil Ave USA Secretary-Treasurer,
Co-Chairman, Los Angeles, CA 90020 Southern California
Trustee District Council of
Carpenters
Bill Perry 520 South Virgil Ave USA Retired
Trustee Los Angeles, CA 90020
Buddy Self 911 20th Street USA Financial Secretary,
Trustee Bakersfield, CA 91301 Carpenters Local
Union 743
Steve Graves 520 South Virgil Ave USA Representative,
Trustee Los Angeles, CA 90020 Southern California
District Council of
Carpenters
Fred Taylor 341 Wardlow Road USA Financial Secretary
Trustee Long Beach, CA 90807 Carpenters Local
Union 630
ICSOPP is a trust, governed by a board of trustees. The principal
administrative office of ICSOPP is located at 1130 Connecticut Avenue, N.W.,
Washington, D.C. 20036. The name, business address and present principal
occupation of each of the trustees and executive officers of ICSOPP are as
follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Robert E. Vagley American Insurance Assn USA President, American
Fiduciary 1130 Connecticut Ave NW Insurance Assn
Washington, DC 20036
Fred R. Marcon Insurance Svcs Office USA President, Insurance
Fiduciary 7 World Trade Center Services Office
New York, NY 10048
Gail P. Norton Industrial Risk Insurers USA President & CEO
Fiduciary 85 Woodland Street Industrial Risk
Hartford, CT 06102 Insurers
A. James Brodsky Insurance Company USA Director, Insurance
Director Supported Organizations Company Supported
Pension Plan and Trust Organizations
1130 Connecticut Ave NW Pension Plan and
Washington, DC 20036 Trust
<PAGE> 12
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 12 of 16
To the best knowledge of the Reporting Persons, none of the entities or
persons identified in this Item 2 has, during the past five years, been
convicted of any criminal proceeding (excluding traffic violations or similar
misdemeanors), nor been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a 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 or Other Consideration
- ----------------------------------------------------------
Not applicable.
Item 4. Purpose of Transaction
- -------------------------------
The Reporting Persons have sold some of their Common Stock holdings and may
sell additional holdings in the future.
Item 5. Interest in Securities of the Issuer
- ---------------------------------------------
(a),(b) According to the Issuer's most recent Form 10-K, there were 23,391,400
shares of Common Stock issued and outstanding as of February 28, 1997. Based
on such information, after taking into account the transactions described in
Item 5(c) below, the following Reporting Persons report the following direct
holdings and corresponding percentage interests in the Common Stock:
Shares of Common Percentage
Name Stock Owned Owned
- ------------------- ------------------- -----------
BK IV 49,500 0.2%
Stinson 40,800 0.2%
Carpenters Trust 651,500 2.8%
ICSOPP 69,900 0.3%
------- ----
Total 811,700 3.5%
======= ====
In addition, because RCBA L.P. has voting and investment power with respect to
66,800 shares that are legally owned by The Common Fund for the account of its
Equity Fund, those shares are reported as beneficially owned by RCBA L.P. The
Common Fund is principally engaged in the business of managing investments for
educational institutions. The principal administrative office of The Common
Fund is located at 450 Post Road East, Westport, Connecticut 06881-0909. The
Common Fund disclaims membership in a group with any of the Reporting Persons,
and disclaims beneficial ownership of any shares held by the Reporting
Persons.
<PAGE> 13
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 13 of 16
Voting and investment power concerning the above shares are held solely by
RCBA L.P. The Reporting Persons therefore may be deemed to be members in a
group, in which case each Reporting Person would be deemed to have beneficial
ownership of an aggregate of 878,500 shares of the Common Stock, which is 3.8%
of the outstanding Common Stock. As the sole general partner of RCBA L.P.,
RCBA Inc. is deemed the beneficial owner of the securities over which RCBA
L.P. has voting and investment power. As Chairman, director and a substantial
shareholder of RCBA Inc., Richard C. Blum might be deemed to be the beneficial
owner of the securities beneficially owned by RCBA Inc. Although Mr. Blum is
joining in this Schedule as a Reporting Person, the filing of this Schedule
shall not be construed as an admission that he, or any of the other
shareholders, directors or executive officers of RCBA Inc. is, for any
purpose, the beneficial owner of any of the securities that are beneficially
owned by RCBA Inc.
(c) During the last 60 days, the Reporting Persons sold the following shares
of Common Stock (on April 21, shares were sold to the Issuer; all other sales
were effected in the open market):
Name Trade Date Shares Price/Share
- ------------------- ---------- ------- -----------
BK IV 04-21-97 14,100 30.75
04-21-97 3,300 30.67
04-23-97 1,400 30.20
04-24-97 300 30.19
Stinson 04-21-97 11,600 30.75
04-21-97 2,700 30.67
04-23-97 1,300 30.20
04-24-97 300 30.19
Carpenters Trust 04-21-97 185,500 30.75
04-21-97 43,600 30.67
04-23-97 20,700 30.20
04-24-97 4,500 30.19
ICSOPP 04-21-97 19,800 30.75
04-21-97 4,700 30.67
04-23-97 2,200 30.20
04-24-97 400 30.19
The Common Fund 04-21-97 19,000 30.75
04-21-97 4,500 30.67
04-23-97 2,000 30.20
04-24-97 400 30.19
(d) Not applicable.
(e) On April 21, 1997, the Reporting Persons ceased to be the beneficial
owners of more than five percent (5%) of the Common Stock.
<PAGE> 14
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 14 of 16
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
- ------------------------------------------------------------------------------
None.
Item 7. Material to be Filed as Exhibits
- -----------------------------------------
Exhibit A Joint Filing Undertaking.
<PAGE> 15
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 15 of 16
SIGNATURES
After reasonable inquiry and to the best or our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: April 25, 1997
STINSON CAPITAL PARTNERS, L.P. RICHARD C. BLUM & ASSOCIATES, L.P.
By Richard C. Blum & Associates, By Richard C. Blum & Associates, Inc.,
L.P., its General Partner its General Partner
By /s/ Marc T. Scholvinck By /s/ Marc T. Scholvinck
------------------------- ---------------------------
Marc T. Scholvinck, Marc T. Scholvinck,
Managing Director and Managing Director and
Chief Financial Officer Chief Financial Officer
RICHARD C. BLUM & ASSOCIATES, INC. By /s/ Marc T. Scholvinck
-------------------------------
By /s/ Marc T. Scholvinck RICHARD C. BLUM
-----------------------------
Marc T. Scholvinck, By Marc T. Scholvinck,
Managing Director and Attorney-in-Fact
Chief Financial Officer
THE CARPENTERS PENSION TRUST FOR INSURANCE COMPANY SUPPORTED
SOUTHERN CALIFORNIA ORGANIZATIONS PENSION PLAN
By Richard C. Blum & Associates, By Richard C. Blum & Associates, L.P.,
L.P., its Investment Advisor its Investment Advisor
By /s/ Marc T. Scholvinck By /s/ Marc T. Scholvinck
------------------------- ---------------------------
Marc T. Scholvinck, Marc T. Scholvinck,
Managing Director and Managing Director and
Chief Financial Officer Chief Financial Officer
BK CAPITAL PARTNERS IV, L.P.
By Richard C. Blum & Associates,
L.P., its General Partner
By /s/ Marc T. Scholvinck
-------------------------
Marc T. Scholvinck,
Managing Director and
Chief Financial Officer
<PAGE> 16
CUSIP NO. 252165-10-5 SCHEDULE 13D Page 16 of 16
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: April 25, 1997
STINSON CAPITAL PARTNERS, L.P. RICHARD C. BLUM & ASSOCIATES, L.P.
By Richard C. Blum & Associates, By Richard C. Blum & Associates, Inc.,
L.P., its General Partner its General Partner
By /s/ Marc T. Scholvinck By /s/ Marc T. Scholvinck
------------------------- ---------------------------
Marc T. Scholvinck, Marc T. Scholvinck,
Managing Director and Managing Director and
Chief Financial Officer Chief Financial Officer
RICHARD C. BLUM & ASSOCIATES, INC. By /s/ Marc T. Scholvinck
-------------------------------
By /s/ Marc T. Scholvinck RICHARD C. BLUM
-----------------------------
Marc T. Scholvinck, By Marc T. Scholvinck,
Managing Director and Attorney-in-Fact
Chief Financial Officer
THE CARPENTERS PENSION TRUST FOR INSURANCE COMPANY SUPPORTED
SOUTHERN CALIFORNIA ORGANIZATIONS PENSION PLAN
By Richard C. Blum & Associates, By Richard C. Blum & Associates, L.P.,
L.P., its Investment Advisor its Investment Advisor
By /s/ Marc T. Scholvinck By /s/ Marc T. Scholvinck
------------------------- ---------------------------
Marc T. Scholvinck, Marc T. Scholvinck,
Managing Director and Managing Director and
Chief Financial Officer Chief Financial Officer
BK CAPITAL PARTNERS IV, L.P.
By Richard C. Blum & Associates,
L.P., its General Partner
By /s/ Marc T. Scholvinck
-------------------------
Marc T. Scholvinck,
Managing Director and
Chief Financial Officer
