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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 19)
------------------------------
DEXTER CORPORATION
(Name of Issuer)
COMMON STOCK, $1.00 PAR VALUE PER SHARE 252165105
(Title of class of securities) (CUSIP number)
RICHARD A. WEINBERG, ESQ.
C/O ISP MANAGEMENT COMPANY, INC.
1361 ALPS ROAD
WAYNE, NEW JERSEY 07470
(973) 628-4000
(Name, address and telephone number of person authorized
to receive notices and communications)
WITH A COPY TO:
STEPHEN E. JACOBS, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153-0119
(212) 310-8000
SEPTEMBER 8, 2000
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7 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 purposes of Section 18 of the Securities Exchange Act of
1934 (the "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.)
(Continued on following pages)
(Page 1 of 7 Pages)
NY2:\961099\01\KLL701!.DOC\54104.0016
<PAGE>
<TABLE>
<CAPTION>
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CUSIP No. 252165105 13D Page 2 of 7 Pages
----------------------------------------------------------- --------------------------------------------------------
---------------------- -------------------------------------------------------------------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSON ISP OPCO HOLDINGS INC.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
---------------------- ------------------------------------------------------------------------------------ ------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
---------------------- ------------------------------------------------------------------------------------ ------------------
3 SEC USE ONLY
---------------------- ------------------------------------------------------------------------------------ ------------------
4 SOURCE OF FUNDS: OO
---------------------- ------------------------------------------------------------------------------------ ------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- ------------------------------------------------------------------------------------ ------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
---------------------- ------------------------------------------------------------------------ ------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 998,100
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 998,100
---------------------- ------------------------------------------------------------------------ ------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
998,100
---------------------- ------------------------------------------------------------------------ ------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
---------------------- ------------------------------------------------------------------------ ------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.30%
---------------------- ------------------------------------------------------------------------ ------------------------------
14 TYPE OF REPORTING PERSON: CO
---------------------- ------------------------------------------------------------------------ ------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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CUSIP No. 252165105 13D Page 3 of 7 Pages
----------------------------------------------------------- --------------------------------------------------------
---------------------- -------------------------------------------------------------------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSON ISP INVESTMENTS INC.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
---------------------- ------------------------------------------------------------------------------------ ------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
---------------------- ------------------------------------------------------------------------------------ ------------------
3 SEC USE ONLY
---------------------- ------------------------------------------------------------------------------------ ------------------
4 SOURCE OF FUNDS: WC, OO
---------------------- ------------------------------------------------------------------------------------ ------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- ------------------------------------------------------------------------------------ ------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
---------------------- ------------------------------------------------------------------------ ------------------------------
NUMBER OF 7 SOLE VOTING POWER: 998,100
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 998,100
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
---------------------- ------------------------------------------------------------------------ ------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
998,100
---------------------- ------------------------------------------------------------------------ ------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
---------------------- ------------------------------------------------------------------------ ------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.30%
---------------------- ------------------------------------------------------------------------ ------------------------------
14 TYPE OF REPORTING PERSON: CO
---------------------- ------------------------------------------------------------------------ ------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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CUSIP No. 252165105 13D Page 4 of 7 Pages
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<S> <C>
1 NAME OF REPORTING PERSON INTERNATIONAL SPECIALTY
S.S. OR I.R.S. IDENTIFICATION NO. PRODUCTS INC.
OF ABOVE PERSON
---------------------- ------------------------------------------------------------------------------------ ------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
---------------------- ------------------------------------------------------------------------------------ ------------------
3 SEC USE ONLY
---------------------- ------------------------------------------------------------------------------------ ------------------
4 SOURCE OF FUNDS: OO
---------------------- ------------------------------------------------------------------------------------ ------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- ------------------------------------------------------------------------------------ ------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
---------------------- ------------------------------------------------------------------------ ------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- ------------------------------------------------ ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 998,100
OWNED BY
------------------- ------------------------------------------------ ------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- ------------------------------------------------ ------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 998,100
---------------------- ------------------------------------------------------------------------ ------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
998,100
---------------------- ------------------------------------------------------------------------ ------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
---------------------- ------------------------------------------------------------------------ ------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.30%
---------------------- ------------------------------------------------------------------------ ------------------------------
14 TYPE OF REPORTING PERSON: CO
---------------------- ------------------------------------------------------------------------ ------------------------------
</TABLE>
<PAGE>
This Amendment No. 19 ("Amendment No. 19") amends the
Statement on Schedule 13D (the "Schedule 13D") filed on April 22, 1999, as
amended by Amendment No. 1 filed on August 11, 1999, Amendment No. 2 filed on
September 8, 1999, Amendment No. 3 filed on September 27, 1999, Amendment No. 4
filed on December 14, 1999, Amendment No. 5 filed on December 16, 1999,
Amendment No. 6 filed on January 27, 2000, Amendment No. 7 filed on February 11,
2000, Amendment No. 8 filed on February 24, 2000, Amendment No. 9 filed on March
23, 2000, Amendment No. 10 filed on April 24, 2000, Amendment No. 11 filed on
May 2, 2000, Amendment No. 12 filed on May 9, 2000, Amendment No. 13 filed on
May 24, 2000, Amendment No. 14 filed on June 21, 2000, Amendment No. 15 filed on
Schedule TO on June 26, 2000, Amendment No. 16 filed on July 11, 2000, Amendment
No. 17 filed on August 28, 2000, and Amendment No. 18 filed on August 31, 2000
by and on behalf of ISP Opco Holdings Inc. ("ISP Opco"), ISP Investments Inc.
("ISP Investments") and International Specialty Products Inc. ("ISP" and
together with ISP Investments and ISP Opco, the "Reporting Persons") with
respect to their ownership of common stock, par value $1.00 per share (the
"Common Stock"), of Dexter Corporation (the "Company"). Capitalized terms used
herein and not defined herein have the meanings ascribed thereto in the Schedule
13D, as amended.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
As of the filing of this Amendment No. 19, the Reporting
Persons beneficially owned (or are deemed, solely for purposes of Rule 13d-3, to
beneficially own), directly or indirectly, an aggregate of 998,100 Shares,
representing approximately 4.30% of the Common Stock outstanding on September 8,
2000 (based on 23,200,967 shares of Common Stock outstanding as of July 24,
2000, as set forth in the Company's Definitive Proxy Statement on Schedule 14A
dated July 28, 2000). ISP Investments has direct beneficial ownership of all of
such Shares.
ISP Investments has the sole power to vote, direct the
voting of, dispose of and direct the disposition of the Shares. ISP Opco, by
virtue of its ownership of all of the outstanding capital stock of ISP
Investments, may be deemed to own beneficially (solely for purposes of Rule
13d-3) the Shares. ISP, by virtue of its ownership of all of the outstanding
common stock of ISP Opco, may be deemed to own beneficially (solely for purposes
of Rule 13d-3) the Shares. Mr. Heyman, by virtue of his beneficial ownership (as
defined in Rule 13d-3) of approximately 77% of the capital stock of ISP, may be
deemed to own beneficially (solely for purposes of Rule 13d-3) the Shares.
Since the filing of Amendment No. 18, ISP Investments
effected transactions in Shares in open market transactions as set forth in
Schedule A hereto.
As a result of the sales of shares of Common Stock set
forth on Schedule A hereto, on September 8, 2000, the Reporting Persons ceased
to be the beneficial owners (as defined in Rule 13d-3) of more than five percent
(5%) of the outstanding shares of Common Stock.
[The remainder of this page intentionally left blank.]
5
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of their knowledge
and belief, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Dated: September 8, 2000
ISP OPCO HOLDINGS INC.
ISP INVESTMENTS INC.
INTERNATIONAL SPECIALTY PRODUCTS INC.
By: /s/ Susan B. Yoss
------------------------------------
Susan B. Yoss
Senior Vice President and Treasurer
6
<PAGE>
SCHEDULE A
The following schedule sets forth information with respect to each
purchase and sale of Shares which was effectuated by the Reporting Persons since
the filing of Amendment No. 18. All transactions were effectuated in the open
market through a broker.
ISP Investments Inc. (through ISP Investments Grantor Trust)
------------------------------------------------------------
Date Number of Shares Sold Price per Share*
---- --------------------- ----------------
9/1/00 93,000 $60.03
9/5/00 20,000 59.44
9/5/00 7,000 59.76
9/6/00 15,000 59.45
9/7/00 48,900 58.46
9/8/00 183,000 58.49
*Excluding commissions
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