Page 1 of 11 Pages
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 11)*
MANOR CARE, INC.
-----------------------------------------------------
(Name of Issuer)
COMMON STOCK
------------------------------------------------------
(Title of Class of Securities)
564054104
-----------------------------------------------------
(CUSIP Number)
Linda S. Martinson, Esq. (212) 583-2000
767 Fifth Avenue, 24th Floor, New York, NY 10153
-----------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 18, 1998
-----------------------------------------------------
(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 this statement [ ].
(A fee is not required only if the filing 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.)
*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).
SEC 1746 (12-91)
<PAGE>
Amendment Number 11 to Schedule 13D (continued)
CUSIP No. 564054104 Page 2 of 11 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Baron Capital Group, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS
2(C) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 880,000
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 11,760,866
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 880,000
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
11,760,866
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,640,866
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Amendment Number 11 to Schedule 13D (continued)
CUSIP No. 564054104 Page 3 of 11 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BAMCO, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS
2(C) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 10,455,000
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
10,455,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,455,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Amendment Number 11 to Schedule 13D (continued)
CUSIP No.564054104 Page 4 of 11 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Baron Capital Management, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS
2(C) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 880,000
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,305,866
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 880,000
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,305,866
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,185,866
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Amendment Number 11 to Schedule 13D (continued)
CUSIP No. 564054104 Page 5 of 11 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Baron Asset Fund
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS
2(C) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 9,730,000
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
9,730,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,730,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IV, OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Amendment Number 11 to Schedule 13D (continued)
CUSIP No.564054104 Page 6 of 11 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ronald Baron
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS
2(C) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 1,033,620
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 11,760,866
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 1,033,620
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
11,760,866
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,794,486
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC, IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Page 7 of 11 Pages
Item 1. Security and Issuer
(a) Name of Issuer:
Manor Care, Inc.
(b) Address of Issuer's Principal Executive Offices:
11555 Darnestown Road
Gaithersburg, MD 20878
(c) Title and Class of Securities:
Common Stock
Item 2. Identity and Background
(a) Name:
Baron Capital Group, Inc. (?BCG?)
BAMCO, Inc. (?BAMCO?)
Baron Capital Management, Inc. (?BCM?)
Baron Asset Fund (?BAF?)
Ronald Baron
(b) Business Address:
767 Fifth Avenue
24th Floor
New York, NY 10153
(c) Present Principal Business or Employment:
No material change.
(d) Record of Convictions:
No material change.
(e) Record of Civil Proceedings:
No material change.
(f) Citizenship:
No material change.
Item 3. Source and Amount of Funds or Other Consideration
BAMCO directed the purchase of 10,455,00 shares of the issuer
for its investment advisory clients for an aggregate purchase
price of $295,277,429. Of those shares, 9,730,000 were
purchased for the account of BAF, for a total purchase price of
$277,247,982. BCM directed the purchase of 1,305,866 shares of
the issuer for its investment advisory clients for an aggregate
purchase price of $18,118,237 and 880,000 shares for two
investment partnerships for an aggregate purchase price of
$20,950,300. All of the shares were paid for by cash assets
in the respective clients? accounts and by margin borrowings
for the account of one BCM client pursuant to standard margin
agreements with Spear, Leeds & Kellogg.
Item 4. Purpose of Transaction
No material change.
<PAGE>
Page 8 of 11 Pages
Item 5. Interest in Securities of the Issuer
(a) Amount and percentage beneficially owned:
BCG: 12,640,866 19.8%*
BAMCO: 10,455,000 16.4%*
BCM: 2,185,866 3.4%*
BAF: 9,730,000 15.3%
Ronald Baron: 12,794,486 20.1%*
*Disclaims beneficial ownership of these shares
(b) Number of shares as to which such person has:
(i) sole power to vote or direct the vote:
BCG*: 880,000
BAMCO*: 0
BCM*: 880,000
BAF: 0
Ronald Baron*: 1,033,620
(ii) shared power to vote or direct the vote:
BCG*: 11,760,866
BAMCO*: 10,455,000
BCM*: 1,305,866
BAF: 9,730,000
Ronald Baron*: 11,760,866
(iii) sole power to dispose or to direct the disposition:
BCG*: 880,000
BAMCO*: 0
BCM*: 880,000
BAF: 0
Ronald Baron*: 1,033,620
(iv) shared power to dispose or direct the disposition:
BCG*: 11,760,866
BAMCO*: 10,455,000
BCM*: 1,305,866
BAF: 9,730,000
Ronald Baron*: 11,760,866
*Reporting Persons may be deemed to share power to vote and
dispose of shares referred to herein as a result of control
relationships (BCG and Ronald Baron with respect to all of
the shares; BAMCO with respect to the BAF shares) and
pursuant to investment advisory relationships with
advisory clients and they disclaim beneficial ownership for
these shares. The shares reported above for
sole power are attributable to investment partnerships
for which BCM and Ronald Baron serve as general partners.
(c) A schedule of transactions effected in the past twenty-eight
days is attached hereto.
<PAGE>
Page 9 of 11 Pages
(d) Ownership of More than Five Percent on Behalf of Another Person:
The investment advisory clients have the right to receive the
dividends from, or the proceeds from the sale of the securities
in their respective accounts. To the best of Reporting Persons?
knowledge, other than the shares reported herein, no person has
such interest relating to more than 5% of the outstanding class
of securities.
(e) Ownership of Less than Five Percent:
Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
By virtue of their investment advisory agreements with their
clients, BCM and BAMCO have been given the discretion to dispose
or direct the disposition of the securities in the advisory
accounts. All such agreements are, however, revocable. The
advisory agreements for the Baron Funds have been approved by their
Board of Trustees. The agreements of the Baron Funds are filed as
exhibit 99 to Form N1-A for Baron Asset Fund and are incorporated
by reference herein. All the advisory agreements are pursuant
to a standard form.
Item 7. Material to be Filed as Exhibits
Exhibit 99 - 28 days of trading.
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 24, 1998
Baron Capital Group, Inc., BAMCO, Inc.,
Baron Capital Management, Inc.
and Baron Asset Fund
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron, President
Ronald Baron, Individually
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron
Page 11 of 11 Pages
Acct Exec.
Date ID Trans Qty Price
- -------- ---- ----- --------- -------
01-26-98 baf buy 10,200 33.8830
01-26-98 baf buy 113,100 33.8750
01-27-98 baf buy 43,400 34.0000
01-27-98 baf buy 5,000 33.9638
01-28-98 baf buy 45,000 34.0000
01-28-98 baf buy 20,000 33.8441
01-29-98 baf buy 20,000 34.4844
01-30-98 baf buy 30,000 34.4558
02-02-98 baf buy 10,000 33.9513
02-03-98 baf buy 37,900 35.7398
02-04-98 baf buy 30,000 36.4444
02-05-98 baf buy 42,500 36.3309
02-06-98 baf buy 49,600 36.8251
02-09-98 baf buy 27,500 36.3182
02-12-98 baf buy 2,500 37.0000
02-12-98 baf buy 6,700 36.9049
02-12-98 baf buy 30,000 36.8750
02-13-98 baf buy 13,300 36.7317
02-13-98 baf buy 15,000 36.8750
02-13-98 baf buy 5,000 36.7500
02-17-98 bcm sell 1,400 36.8125
02-18-98 baf buy 150,000 37.0625
02-19-98 baf buy 20,000 36.9209
02-19-98 baf buy 20,000 36.8125
02-19-98 bcm sell 1,300 36.7500
02-20-98 baf buy 50,000 37.0000
02-20-98 bcm sell 200 36.9476
02-20-98 bcm sell 3,500 36.9476
