<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13D-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13D-2(a)
(AMENDMENT NO. 2)
ACM Government Opportunity Fund, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
000918 102
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(CUSIP Number)
Michael A. Conway
Aon Advisors, Inc.
123 North Wacker Drive
Chicago, Illinois 60606
(312) 701-3000
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 7, 2000
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(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: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See
Rule 13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
PAGE 1 OF 8
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CUSIP NO. 000918 102 SCHEDULE 13D PAGE 2 OF 8
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
AON CORPORATION
36-3051915
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
Not Applicable
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
/ /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER 0
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 4,635,536
OWNED BY -----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING -----------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 4,635,536
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,635,536
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
35.5%
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14 TYPE OF REPORTING PERSON (See Instructions)
HC, CO
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CUSIP NO. 000918 102 SCHEDULE 13D PAGE 3 OF 8
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
AON ADVISORS, INC.
54-1392321
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
Not Applicable
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
/ /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Virginia
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NUMBER OF 7 SOLE VOTING POWER 0
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 4,635,536
OWNED BY -----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING -----------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 4,635,536
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,635,536
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
35.5%
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14 TYPE OF REPORTING PERSON (See Instructions)
IA, CO
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CUSIP NO. 000918 102 SCHEDULE 13D PAGE 4 OF 8
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
COMBINED INSURANCE COMPANY OF AMERICA
36-2136262
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
/ /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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NUMBER OF 7 SOLE VOTING POWER 0
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 4,552,708
OWNED BY -----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING -----------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 4,552,708
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,552,708
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
34.8%
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14 TYPE OF REPORTING PERSON (See Instructions)
IC, CO
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CUSIP NO. 000918 102 SCHEDULE 13D PAGE 5 OF 8
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
VIRGINIA SURETY COMPANY, INC.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
/ /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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NUMBER OF 7 SOLE VOTING POWER 0
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 82,828
OWNED BY -----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING -----------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 82,828
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
82,828
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
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14 TYPE OF REPORTING PERSON (See Instructions)
IC, CO
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CUSIP NO. 000918 102
This Amendment No. 2 (this "Amendment") amends and supplements the
Schedule 13D filed with the Securities and Exchange Commission on December 10,
1999 (the "Schedule 13D") by Aon Corporation, a Delaware corporation ("Aon"),
Aon Advisors, Inc., a Virginia corporation ("Advisors"), Combined Insurance
Company of America, an Illinois corporation ("CICA"), and Virginia Surety
Company, an Illinois corporation ("VSC", and together with Aon, Advisors and
CICA, the "Filing Persons"). The Schedule 13D and this Amendment relate to the
Common Stock (the "Common Stock") of ACM Government Opportunity Fund, Inc. (the
"Issuer"). Capitalized terms used but not defined herein have the meanings
ascribed to such terms in the Schedule 13D.
Item 7 of the Schedule 13D is hereby amended and restated in
its entirety as follows:
Page 6 of 8
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ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
A. Investment Advisory Agreement dated May 1, 1992 between Aon Advisors
and CICA (incorporated by reference to the Schedule 13D filed by the
Filing Persons on December 10, 1999)
B. Investment Advisory Agreement dated May 1, 1992 between Aon Advisors
and VSC (incorporated by reference to the Schedule 13D filed by the
Filing Persons on December 10, 1999)
C. Joint Filing Agreement dated December 10, 1999 among each of the Filing
Persons (incorporated by reference to the Schedule 13D filed by the
Filing Persons on December 10, 1999)
D. Letter from CICA and VSC to the Issuer dated December 27, 1999
(incorporated by reference to Amendment No. 1 to the Schedule 13D filed
by the Filing Persons on December 27, 1999)
E. Letter from CICA and VSC to the Issurer dated March 7, 2000
Page 7 of 8
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SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
AON CORPORATION
Date: March 16, 2000
/s/ Michael A. Conway
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By: Michael A. Conway
Its: Senior Vice President and Senior Investment Officer
AON ADVISORS, INC.
Date: March 16, 2000
/s/ Michael A. Conway
- ------------------------
By: Michael A. Conway
President
COMBINED INSURANCE COMPANY OF AMERICA
Date: March 16, 2000
/s/ Michael A. Conway
- ------------------------
By: Michael A. Conway
Senior Vice President
VIRGINIA SURETY COMPANY, INC.
Date: March 16, 2000
/s/ Michael A. Conway
- ------------------------
By: Michael A. Conway
Senior Vice President
Page 8 of 8
<PAGE> 1
[LETTERHEAD OF AON CORPORATION]
123 North Wacker Drive
Chicago, Illinois 60606
March 7, 2000
ACM Government Opportunity Fund, Inc.
1345 Avenue of the Americas
Suite 3100
New York, NY 10105
Attention: Board of Directors
Ladies and Gentlemen:
By letter dated December 27, 1999, we requested that ACM Government
Opportunity Fund, Inc. (the "Fund") submit to its stockholders at its annual
meeting to be held in 2000 a proposal (the "Proposal") that the Fund amend its
Articles of Incorporation to convert the Fund from a closed-end to open-end
form.
This request was made in accordance with Article Seventh, Section (4)(a) of
the Articles of Incorporation of the Fund (the "Charter Provision").
The Fund has submitted the Proposal to its stockholders in its proxy
statement dated February 18, 2000 for its annual meeting of stockholders to be
held March 28, 2000. The Board of Directors of the Fund has recommended that
stockholders vote against the Proposal. In addition, in submitting the Proposal
to its stockholders, the Fund has included certain terms and conditions not
authorized by, referred to in or contemplated by The Charter Provision. These
terms and conditions include, but are not necessarily limited to, (i) a proposed
authorization to impose a redemption fee of up to 2% of net asset value of any
redemptions made during a period of up to two years after conversion of the Fund
from closed-end to open-end form and (ii) the proposed imposition of additional
fees, including a .30% Rule 12b-1 plan fee, on Fund stockholders (collectively,
the "Unauthorized Conditions").
We believe that inclusion of terms and conditions not authorized by,
referred to in or contemplated by the Charter Provision in connection with the
submission of the Proposal to the Fund's stockholders is an egregious breach of
both the express terms, and the spirit, of the Charter Provision. This
particularly true given the inclusion of terms and conditions, such as the
Unauthorized Conditions, which can reasonably be expected to have a significant
negative effect on stockholder support for the Proposal. However, the Charter
Provision contemplates a
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ACM Government Opportunity Fund, Inc.
March 7, 2000
Page 2
simple, fair and unbiased referendum on open-ending, without the negative impact
of the Unauthorized Conditions on stockholder support for the Proposal or the
negative consequences that would result should the Proposal be adopted in spite
of the attempted imposition of the Unauthorized Conditions. The obligation of
the Fund to submit the Proposal to stockholders has not been satisfied by
submission of the Proposal subject to the Unauthorized Conditions, and such
obligation will not have been satisfied until the Proposal is submitted in
accordance with the Charter Provision and without the Unauthorized Conditions or
any other adverse unauthorized terms or conditions. We hereby request that you
resubmit the Proposal without the Unauthorized Conditions or other adverse
unauthorized terms or conditions.
Because of the opposition of the Board of Directors to the Proposal and the
inclusion of the Unauthorized Conditions in the submission of the Proposal to
stockholders, we intend to withhold our vote in connection with the elections of
directors at the upcoming annual meeting.
The undersigned reserves any and all rights it may now or hereafter have
with respect to the purported imposition of the Unauthorized Conditions in
connection with submission of the Proposal to the Fund's stockholders or, if the
Proposal is approved by stockholders, such approval. This reservation of rights
shall pertain whether the undersigned determines to vote for or against the
Proposal as presented in the Fund's proxy statement.
Very truly yours,
Combined Insurance Company of America
By: /s/ Michael A. Conway
-----------------------------------
Michael A. Conway
Senior Vice President
Virginia Surety Company, Inc.
By: /s/ Michael A. Conway
-----------------------------------
Michael A. Conway
Senior Vice President
