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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
Liz Claiborne, Inc.
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(Name of Issuer)
Common Stock, par value $1.00 per share
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(Title of Class of Securities)
539320101
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(CUSIP Number)
February 16, 2000
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed: [ ] Rule 13d-1(b)
[X] 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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SCHEDULE 13G
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CUSIP NO. 539320101 Page 2 of 9 Pages
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NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
ESL Partners, L.P., a Delaware limited partnership
22-2875193
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
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SOLE VOTING POWER
5
NUMBER OF
2,464,602
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
2,464,602
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,774,800
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10 (SEE INSTRUCTIONS)
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
6.9%
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
PN
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SCHEDULE 13G
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CUSIP NO. 539320101 Page 3 of 9 Pages
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NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
ESL Limited, a Bermuda corporation
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Bermuda
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SOLE VOTING POWER
5
NUMBER OF
554,966
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
554,966
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,774,800
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10 (SEE INSTRUCTIONS)
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
6.9%
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
CO
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SCHEDULE 13G
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CUSIP NO. 539320101 Page 4 of 9 Pages
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NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
ESL Institutional Partners, L.P., a Delaware limited partnership
06-1456821
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
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SOLE VOTING POWER
5
NUMBER OF
51,801
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
51,801
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,774,800
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10 (SEE INSTRUCTIONS)
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
6.9%
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
PN
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SCHEDULE 13G
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CUSIP NO. 539320101 Page 5 of 9 Pages
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NAMES OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
ESL Investors, L.L.C.
13-4095958
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
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SOLE VOTING POWER
5
NUMBER OF
703,431
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
703,431
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,774,800
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10 (SEE INSTRUCTIONS)
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
6.9%
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
OO
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Page 6 of 9 Pages
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Item 1(a) Name of Issuer:
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Liz Claiborne, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
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1441 Broadway
New York, New York 10018
Item 2(a) Names of Persons Filing:
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ESL Partners, L.P.
ESL Limited
ESL Institutional Partners, L.P.
ESL Investors, L.L.C.
Item 2(b) Addresses of Principal Business Offices:
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ESL Partners, L.P., ESL Institutional Partners, L.P., and ESL
Investors, L.L.C.:
One Lafayette Place
Greenwich, CT 06830
ESL Limited
Hemisphere House
9 Church Street
Hamilton, Bermuda
Item 2(c) Citizenship:
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ESL Partners, L.P. -- Delaware
ESL Limited -- Bermuda
ESL Institutional Partners, L.P. -- Delaware
ESL Investors, L.L.C. -- Delaware
Item 2(d) Title of Class of Securities:
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Common Stock, par value $1.00 per share
Item 2(e) CUSIP Number:
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539320101
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Page 7 of 9 Pages
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Item 3 Status of Persons Filing:
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(a) [ ] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o);
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15
U.S.C. 78c);
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e) [ ] An investment adviser in accordance with
(S)240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
(S)240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
(S)240.13d-1(b)(1)(ii)(G);
(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).
(j) [ ] Group, in accordance with (S)240.13d-1(b)(1)(ii)(J).
Item 4 Ownership:
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(a) Amount Beneficially Owned: 3,774,800 shares of Common Stock, par
value $1.00 per share
This statement is filed on behalf of a group consisting of ESL
Partners, L.P., a Delaware limited partnership ("ESL"), ESL Limited,
a Bermuda corporation ("Limited"), ESL Institutional Partners, L.P.,
a Delaware limited partnership ("Institutional"), and ESL Investors,
L.L.C., a Delaware limited liability company ("Investors") sometimes
referred to collectively as the "ESL Reporting Group." The general
partner of ESL is RBS Partners, L.P. (the "General Partner"). The
general partner of the General Partner of ESL is ESL Investments,
Inc., a Delaware corporation. ESL Investment Management, LLC, a
Delaware limited liability company ("ESLIM"), is the investment
manager of Limited. RBS Investment Management, LLC, a Delaware
limited liability company ("RBSIM") is the general partner of
Institutional. RBS Partners, L.P. is the manager of Investors. In
the aforementioned capacities, ESL, Limited, Institutional, and
Investors each may be deemed to be the beneficial owner of the
shares of Liz Claiborne, Inc. common stock beneficially owned by the
other members of the group.
As of February 28, 2000: (i) ESL was the record owner of 2,464,602
shares of common stock of Liz Claiborne, Inc.; (ii) Limited was the
record owner of 554,966 shares of common stock of Liz Claiborne,
Inc.; (iii) Institutional was the record owner of 51,801 shares of
common stock of Liz Claiborne, Inc.; and (iv) Investors was the
record owner of 703,431 shares of common stock of Liz Claiborne,
Inc.
(b) Percent of Class: 6.9%.
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Page 8 of 9 Pages
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(c) Number of shares as to which each person has:
(i) sole power to vote or to direct the vote:
See Item 5 of each cover page.
(ii) shared power to vote or to direct the vote: 0.
(iii) sole power to dispose or to direct the disposition of:
See Item 7 of each cover page.
(iv) shared power to dispose or to direct the disposition of: 0.
Item 5 Ownership of 5% or Less of a Class:
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Not applicable.
Item 6 Ownership of More than 5% on Behalf of Another Person:
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Not applicable.
Item 7 Identification and Classification of the Subsidiary which Acquired
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the Security Being Reported on By The Parent Holding Company:
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Not applicable
Item 8 Identification and Classification of Members of the Group:
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See Item 4(a).
Item 9 Notice of Dissolution of Group:
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Not applicable
Item 10 Certification:
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By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.
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Page 9 of 9 Pages
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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.
Date: February 28, 2000
ESL PARTNERS, L.P.
By: RBS Partners, L.P., its general
partner
By: ESL Investments, Inc., its
general partner
By: /S/ EDWARD S. LAMPERT
----------------------------
Edward S. Lampert
Chairman
ESL LIMITED
By: ESL Investment Management, LLC,
its investment manager
By: /S/ EDWARD S. LAMPERT
----------------------------
Edward S. Lampert
Managing Member
ESL INSTITUTIONAL PARTNERS, L.P.
By: RBS Investment Management, LLC,
its general partner
By: /S/ EDWARD S. LAMPERT
----------------------------
Edward S. Lampert
Managing Member
ESL INVESTORS, L.L.C.
By: RBS Partners, L.P., its manager
By: ESL Investments, Inc., its
general partner
By: /S/ EDWARD S. LAMPERT
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Edward S. Lampert
Chairman
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EXHIBITS
Exhibit 1 Joint Filing Agreement, dated as of February 28, 2000, entered
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into by and among ESL Partners, L.P., ESL Limited, ESL
Institutional Partners, L.P., and ESL Investors, L.L.C.
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EXHIBIT 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) promulgated under the Securities Exchange
Act of 1934, as amended, the persons named below agree to the joint filing on
behalf of each of them a Statement on Schedule 13G (including amendments
thereto) with regard to the common stock of Liz Claiborne, Inc., and further
agree that this Joint Filing Agreement be included as an Exhibit to such joint
filings. In evidence thereof, the undersigned, being duly authorized, hereby
execute this Agreement as of the 28/th/ day of February, 2000.
ESL PARTNERS, L.P.
By: RBS Partners, L.P., its general
partner
By: ESL Investments, Inc., its
general partner
By: /S/ EDWARD S. LAMPERT
----------------------------
Edward S. Lampert
Chairman
ESL LIMITED
By: ESL Investment Management, LLC,
its investment manager
By: /S/ EDWARD S. LAMPERT
----------------------------
Edward S. Lampert
Managing Member
ESL INSTITUTIONAL PARTNERS, L.P.
By: RBS Investment Management, LLC,
its general partner
By: /S/ EDWARD S. LAMPERT
----------------------------
Edward S. Lampert
Managing Member
ESL INVESTORS, L.L.C.
By: RBS Partners, L.P., its manager
By: ESL Investments, Inc., its
general partner
By: /S/ EDWARD S. LAMPERT
----------------------------
Edward S. Lampert
Chairman
