<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
-------------
(Amendment No. 7)
DYNATECH CORPORATION
--------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value
$.20 per share 268138104
----------------------------------- -----------------------------------
(Title of class of securities) (CUSIP number)
David E. Zeltner, Esq.
Weil, Gotshal & Manges
767 Fifth Avenue
New York, NY 10153
(212) 310-8000
--------------------------------------------------------------------------
(Name, address and telephone number of person authorized to receive
notices and communications)
January 5, 1995
--------------------------------------------------------------------------
(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 [_].
Check the following box if a fee is being paid with the statement [_].
(A fee is not required only if the reporting 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.)
Note: When filing this statement in paper format, six copies of this
statement, including exhibits, should be filed with the Commission. See
Rule 13d-1(a) for other parties to whom copies are to be sent.
<PAGE>
<PAGE>
CUSIP No. 268138104 13D
1 NAME OF REPORTING PERSON: The SC Fundamental Value Fund,
L.P.
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) [_]
3 SEC USE ONLY
4 SOURCE OF FUNDS: not applicable
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [_]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
6 CITIZENSHIP OR PLACE OF Delaware
ORGANIZATION:
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE 0
POWER:
11 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY REPORTING PERSON:
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES:
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0%
14 TYPE OF REPORTING PERSON: PN
<PAGE>
<PAGE>
CUSIP No. 268138104 13D
1 NAME OF REPORTING PERSON: SC Fundamental Value BVI, Ltd.
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) [_]
3 SEC USE ONLY
4 SOURCE OF FUNDS: not applicable
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [_]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
6 CITIZENSHIP OR PLACE OF British Virgin Islands
ORGANIZATION:
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE 0
POWER:
11 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY REPORTING PERSON:
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES:
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0%
14 TYPE OF REPORTING PERSON: CO
<PAGE>
<PAGE>
CUSIP No. 268138104 13D
1 NAME OF REPORTING PERSON: SC-BVI Partners
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) [_]
3 SEC USE ONLY
4 SOURCE OF FUNDS: not applicable
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [_]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
6 CITIZENSHIP OR PLACE OF Delaware
ORGANIZATION:
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE 0
POWER:
11 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY REPORTING PERSON:
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES:
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0%
14 TYPE OF REPORTING PERSON: PN
<PAGE>
<PAGE>
CUSIP No. 268138104 13D
1 NAME OF REPORTING PERSON: SC Fundamental Value BVI, Inc.
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) [_]
3 SEC USE ONLY
4 SOURCE OF FUNDS: not applicable
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [_]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
6 CITIZENSHIP OR PLACE OF Delaware
ORGANIZATION:
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE 0
POWER:
11 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY REPORTING PERSON:
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES:
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0%
14 TYPE OF REPORTING PERSON: CO
<PAGE>
<PAGE>
CUSIP No. 268138104 13D
1 NAME OF REPORTING PERSON: SC Fundamental Inc.
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) [_]
3 SEC USE ONLY
4 SOURCE OF FUNDS: not applicable
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [_]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
6 CITIZENSHIP OR PLACE OF 0
ORGANIZATION:
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE 0
POWER:
11 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY REPORTING PERSON:
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES:
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0%
14 TYPE OF REPORTING PERSON: CO
<PAGE>
<PAGE>
CUSIP No. 268138104 13D
1 NAME OF REPORTING PERSON: Gary N. Siegler
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: not applicable
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [_]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
6 CITIZENSHIP OR PLACE OF United States
ORGANIZATION:
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE 0
POWER:
11 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY REPORTING PERSON:
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES:
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0%
14 TYPE OF REPORTING PERSON: IN
<PAGE>
<PAGE>
CUSIP No. 268138104 13D
1 NAME OF REPORTING PERSON: Peter M. Collery
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: not applicable
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [_]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
6 CITIZENSHIP OR PLACE OF United States
ORGANIZATION:
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE 0
POWER:
11 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY REPORTING PERSON:
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES:
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0%
14 TYPE OF REPORTING PERSON: IN
<PAGE>
<PAGE>
13D - Amendment No. 7
The Reporting Persons, consisting of the SC Fundamental
Value Fund, L.P., SC Fundamental Inc., SC Fundamental Value BVI, Ltd.,
SC-BVI Partners, SC Fundamental Value BVI, Inc., Gary N. Siegler and
Peter M. Collery amend their statement on Schedule 13D relating to the
common stock, par value $.20 per share ("Shares"), of Dynatech
Corporation as set forth herein. Unless otherwise indicated,
capitalized terms contained herein shall have the meaning ascribed to
them in Reporting Persons' prior statements on Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a)-(b) As of the close of business on January 5, 1995, none
of the Reporting Persons beneficially owned any Shares.
(c) The information concerning transactions in Shares
effected by the Reporting Persons during the last 60 days is set forth
on Schedule I hereto.
(e) The Reporting Persons ceased to be the beneficial owners
of more than five percent of the Shares on January 5, 1995.
<PAGE>
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of the knowledge
and belief of each of the undersigned, each of the undersigned
certifies that the information set forth in this statement on Schedule
13D concerning the common stock, par value $.20 per share, of Dynatech
Corporation, a Delaware corporation, is true, complete and correct:
Date: January 11, 1995
THE SC FUNDAMENTAL VALUE FUND, L.P.
By: SC Fundamental Inc.
Its: General Partner
By: /s/Peter M. Collery
--------------------------------
Peter M. Collery
Its: Vice President
SC FUNDAMENTAL VALUE BVI, LTD.
By: /s/Anthony Stocks
-------------------------------------
Anthony Stocks
Its: Director
SC-BVI PARTNERS
By: SC Fundamental Value BVI, Inc.
Its: General Partner
By: /s/Peter M. Collery
--------------------------------
Peter M. Collery
Its: Vice President
SC FUNDAMENTAL INC.
SC FUNDAMENTAL VALUE BVI, INC.
Both by: /s/Peter M. Collery
--------------------------------
Peter M. Collery
Its: Vice President
/s/Peter M. Collery
-----------------------------------
Peter M. Collery
/s/Gary N. Siegler
----------------------------------------
Gary N. Siegler
NYFS08...:\68\74168\0007\1196\SCH92894.Y2A<PAGE>
<PAGE>
SCHEDULE I
<TABLE>
<CAPTION>
SC FUNDAMENTAL VALUE BVI, LTD.
Number of Shares Price Net Type of
Date of Common Stock Per Share Proceeds Transaction
-------- ---------------- --------- -------------- --------------
<S> <C> <C> <C> <S>
11/02/94 1,800.000 30.2500 54,360.00 Short Sale(a)
11/03/94 600.000 30.2500 18,180.00 Purchase
11/03/94 27,600.000 30.0000 828,000.00 Sale
11/03/94 15,650.000 30.0000 469,500.00 Short Sale(a)
11/04/94 9,100.000 30.0000 273,000.00 Short Sale(a)
11/07/94 600.000 30.0000 18,030.00 Cover Short(b)
11/09/94 30,300.000 29.9375 907,106.25 Short Sale(a)
11/10/94 47,900.000 29.8013 1,427,482.27 Short Sale(a)
11/11/94 18,000.000 29.5625 532,125.00 Short Sale(a)
11/11/94 600.000 29.6250 17,805.00 Cover Short(b)
11/16/94 43,000.000 28.7500 1,236,250.00 Short Sale(a)
11/17/94 16,900.000 28.7500 485,875.00 Short Sale(a)
11/22/94 200.000 28.5000 5,698.00 Short Sale(a)
12/02/94 15,100.000 27.1250 409,587.50 Short Sale(a)
12/05/94 1,200.000 27.1250 32,490.00 Short Sale(a)
12/05/94 40,250.000 27.1330 1,092,103.25 Short Sale(a)
12/06/94 2,750.000 27.2500 74,937.50 Short Sale(a)
12/29/94 19,350.000 33.0000 638,550.00 Short Sale(a)
12/29/94 19,350.000 33.0000 638,743.50 Purchase
01/05/95 260,300.000 34.7500 9,045,425.00 Cover Short(c)
</TABLE>
<TABLE>
<CAPTION>
SC FUNDAMENTAL VALUE FUND, L.P.
Number of Shares Price Net Type of
Date of Common Stock Per Share Proceeds Transaction
-------- ----------------- ---------- -------------- -------------
<S> <C> <C> <C> <S>
11/02/94 4,050.000 30.2500 122,310.00 Short Sale(a)
11/03/94 34,200.000 30.0000 1,026,000.00 Short Sale(a)
11/03/94 1,350.000 30.2500 40,905.00 Purchase
11/03/94 60,400.000 30.0000 1,812,000.00 Sale
11/04/94 20,250.000 30.0000 607,500.00 Short Sale(a)
11/07/94 1,350.000 30.0000 40,567.50 Cover Short(b)
11/09/94 67,450.000 29.9375 2,019,284.38 Short Sale(a)
11/10/94 108,000.000 29.8013 3,218,540.40 Short Sale(a)
11/11/94 40,650.000 29.5625 1,201,715.63 Short Sale(a)
11/11/94 1,350.000 29.6250 40,061.25 Cover Short(b)
11/16/94 93,750.000 28.7500 2,695,312.50 Short Sale(a)
11/17/94 36,800.000 28.7500 1,058,000.00 Short Sale(a)
11/22/94 3,800.000 28.5000 108,262.00 Short Sale(a)
12/02/94 33,700.000 27.1250 914,112.50 Short Sale(a)
12/05/94 2,700.000 27.1250 73,102.50 Short Sale(a)
12/05/94 90,000.000 27.1330 2,441,970.00 Short Sale(a)
12/06/94 6,350.000 27.2500 173,037.50 Short Sale(a)
01/06/95 539,000.000 34.0000 18,326,000.00 Cover Short(c)
</TABLE>
NYFS08...:\68\74168\0007\91\SCH1105R.370<PAGE>
<PAGE>
<TABLE>
<CAPTION>
SC FUNDAMENTAL, INC.(d)
Number of Shares Price Net Type of
Date of Common Stock Per Share Proceeds Transaction
-------- ----------------- --------- ------------ --------------
<S> <C> <C> <C> <S>
11/02/94 150.000 30.2500 4,530.00 Short Sale(a)
11/03/94 50.000 30.2500 1,515.00 Purchase
11/03/94 2,000.000 30.0000 60,000.00 Sale
11/03/94 1,150.000 30.0000 34,500.00 Short Sale(a)
11/04/94 650.000 30.0000 19,500.00 Short Sale(a)
11/07/94 50.000 30.0000 1,502.50 Cover Short(b)
11/09/94 2,250.000 29.9375 67,359.38 Short Sale(a)
11/10/94 3,600.000 29.8013 107,284.68 Short Sale(a)
11/11/94 1,350.000 29.5625 39,909.38 Short Sale(a)
11/11/94 50.000 29.6250 1,483.75 Cover Short(b)
11/16/94 3,250.000 28.7500 93,437.50 Short Sale(a)
11/17/94 1,300.000 28.7500 37,375.00 Short Sale(a)
11/22/94 1,000.000 28.5000 28,490.00 Short Sale(a)
12/02/94 1,200.000 27.1250 32,550.00 Short Sale(a)
12/05/94 100.000 27.1250 2,707.50 Short Sale(a)
12/05/94 3,250.000 27.1330 88,182.25 Short Sale(a)
12/06/94 200.000 27.2500 5,450.00 Short Sale(a)
12/29/94 19,350.000 33.0000 638,937.00 Cover Short(b)
12/29/94 19,350.000 33.0000 638,356.50 Sale
</TABLE>
__________________________
(a) Such transaction involved the settlement of a short sale "against
the box" of Shares effected on NASDAQ Such transaction did not
reduce the number of Shares beneficially owned by the Reporting
Person.
(b) Such purchase was effected on NASDAQ and such Shares were used to
close short sale transactions of such Reporting Person described
in footnote (a).
(c) Shares delivered to offset short position.
(d) Includes shares owned by a managed account for which SC
Fundamental, Inc. serves as the investment manager. SC
Fundamental, Inc. may be deemed to beneficially own such shares.
