SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
UNITED STATIONERS, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.10 PER SHARE
(Title of Class of Securities)
913004107
(CUSIP Number)
Thomas F. Steyer
Farallon Capital Management, Inc.
One Maritime Plaza,
Suite 1325
San Francisco, CA 94111
(Name, address and telephone number of person
authorized to receive notices and communications)
March 31, 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.)
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Farallon Capital Management, Inc.
_____________________________________________________________________________
(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 ITEMS 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
14,654
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
14,654
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
14,654
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.25%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Thomas F. Steyer
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF, OO
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
91,154
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
91,154
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
91,154
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.55%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
David I. Cohen
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
South Africa
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
76,500
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
76,500
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
76,500
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.3%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Meridee A. Moore
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
76,500
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
76,500
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
76,500
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.3%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Joseph F. Downes
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
76,500
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
76,500
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
76,500
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.3%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Fleur E. Fairman
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF, OO
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
91,154
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
91,154
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
91,154
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.55%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Jason M. Fish
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
76,500
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
76,500
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
76,500
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.3%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
William F. Mellin
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [X]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
76,500
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
76,500
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
76,500
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.3%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Eric M. Ruttenberg
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
76,500
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
76,500
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
76,500
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.3%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Farallon Capital Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
California
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
30,994
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
30,994
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
30,994
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.53%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Farallon Capital Institutional Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
California
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
35,639
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
35,639
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
35,639
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.6%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Farallon Capital Institutional Partners, II, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
California
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
5,736
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
5,736
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,736
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.1%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 913004107
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Tinicum Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
4,131
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
4,131
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
4,131
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.07%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
The Schedule 13D, initially filed on March 6, 1995,by
Farallon Capital Partners, L.P., a California limited partnership
("FCP"), Farallon Capital Institutional Partners, L.P., a
California limited partnership ("FCIP"), Farallon Capital
Institutional Partners II, L.P., a California limited partnership
("FCIP II"), Tinicum Partners, a New York limited partnership
("Tinicum" and together with FCP, FCIP and FCIP II the
"Partnerships"), Farallon Capital Management, Inc., a Delaware
corporation ("FCMI") and each of Thomas F. Steyer ("Steyer"),
Joseph F. Downes ("Downes"), Fleur E. Fairman ("Fairman"), Jason
M. Fish ("Fish"), David I. Cohen ("Cohen"), William F. Mellin
("Mellin"), Eric M. Ruttenberg ("Ruttenberg") and Meridee A.
Moore ("Moore" and together with Steyer, Fairman, Fish, Cohen,
Mellin and Ruttenberg the "General Partners") relating to the
Common Stock, par value $.10 per share of United Stationers, Inc.
("United Stationers Common Stock") is hereby amended by this
Amendment No. 1 to the Schedule 13D as follows.
Item 5. Interest in Securities of the Issuer.
- ------ ------------------------------------
A. Farallon Capital Institutional Partners, L.P.
---------------------------------------------
Item 5 is hereby replaced its entirety by the following:
(a) Aggregate number of Shares beneficially owned:
35,639 Percentage: .6% The percentages used
herein and in the rest of Item 5 are calculated
based upon the 5,897,923 Shares stated to be issued
and outstanding by the Company in a telephone
conversation on April 12, 1995.
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 35,639
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 35,639
(c) The trading dates, number of Shares purchased or
sold and the price per Share for all transactions
in the Shares, which were all in the open market,
are set forth in Schedule A and are incorporated by
reference.
(d) The General Partners have the power to direct the
affairs of FCIP, including decisions respecting the
disposition of the proceeds from the sale of the
Shares.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
B. Farallon Capital Institutional Partners II, L.P.
------------------------------------------------
(a) Aggregate number of Shares beneficially owned: 5,736
Percentage: .1%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 5,736
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 5,736
(c) The trading dates, number of Shares purchased or
sold and the price per Share for all transactions
in the Shares, which were all in the open market,
are set forth in Schedule B and are incorporated by
reference.
(d) The General Partners have the power to direct the
affairs of FCIP II, including decisions respecting
the disposition of the proceeds from the sale of
the Shares.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
C. Farallon Capital Partners, L.P.
-------------------------------
(a) Aggregate number of Shares beneficially owned: 30,994
Percentage: .53%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 30,994
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 30,994
(c) The trading dates, number of Shares purchased or
sold and the price per Share for all transactions
in the Shares, which were all in the open market,
are set forth in Schedule C and are incorporated by
reference.
(d) The General Partners have the power to direct the
affairs of FCP, including decisions respecting the
disposition of the proceeds from the sale of the
Shares.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
D. Tinicum Partners, L.P.
----------------------
(a) Aggregate number of Shares beneficially owned: 4,131
Percentage: .07%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 4,131
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 4,131
(c) The trading dates, number of Shares purchased or
sold and the price per Share for all transactions
in the Shares, which were all in the open market,
are set forth in Schedule D and are incorporated by
reference.
(d) The General Partners have the power to direct the
affairs of Tinicum, including decisions respecting
the disposition of the proceeds from the sale of
the Shares.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
E. Farallon Capital Management, Inc.
---------------------------------
(a) Aggregate number of Shares beneficially owned: 14,654
Percentage: .25%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 14,654
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 14,654
(c) The trading dates, number of Shares purchased or
sold and the price per Share for all transactions
in the Shares, which were in the open market, are
set forth in Schedule E and are incorporated by
reference.
(d) FCMI, as an investment advisor, has the power to
direct the disposition of the proceeds from the
sale of the Shares held by the Managed Accounts.
Mr. Steyer and Ms. Fairman are the sole
stockholders of FCMI. Mr. Steyer is a director,
the Chairman of the Board and Secretary of FCMI.
Ms. Fairman is a director, President, Treasurer and
Assistant Secretary of FCMI.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common Stock on March
31, 1995.
F. Thomas F. Steyer
----------------
(a) Aggregate number of Shares beneficially owned: 91,154
Percentage: 1.55%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 91,154
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 91,154
(c) None.
(d) Each of the General Partners has the power to
direct the affairs of the Partnerships, including
the disposition of the proceeds from the sale of
the Shares. FCMI, as an investment advisor, has
the power to direct the disposition of the proceeds
from the sale of the Shares held by the Managed
Accounts. Mr. Steyer and Ms. Fairman are the sole
stockholders of FCMI. Mr. Steyer is a director,
the Chairman of the Board and Secretary of FCMI.
Ms. Fairman is a director, President, Treasurer and
Assistant Secretary of FCMI.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
G. David I. Cohen
--------------
(a) Aggregate number of Shares beneficially owned: 76,500
Percentage: 1.3%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 76,500
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 76,500
(c) None.
(d) Each of the General Partners has the power to
direct the affairs of the Partnerships, including
the disposition of the proceeds from the sale of
the Shares.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
H. Joseph F. Downes
----------------
(a) Aggregate number of Shares beneficially owned: 76,500
Percentage: 1.3%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 76,500
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 76,500
(c) None.
(d) Each of the General Partners has the power to
direct the affairs of the Partnerships, including
the disposition of the proceeds from the sale of
the Shares.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
I. Fleur E. Fairman
----------------
(a) Aggregate number of Shares beneficially owned: 91,154
Percentage: 1.55%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 91,154
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 91,154
(c) None.
(d) Each of the General Partners has the power to
direct the affairs of the Partnerships, including
the disposition of the proceeds from the sale of
the Shares. FCMI, as an investment advisor, has
the power to direct the disposition of the proceeds
from the sale of Shares held by the Managed
Accounts. Mr. Steyer and Ms. Fairman are the sole
stockholders of FCMI. Mr. Steyer is a director,
the Chairman of the Board and Secretary of FCMI.
Ms. Fairman is a director, President, Treasurer and
Assistant Secretary of FCMI.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
J. Jason M. Fish
-------------
(a) Aggregate number of Shares beneficially owned: 76,500
Percentage: 1.3%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 76,500
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 76,500
(c) None.
(d) Each of the General Partners has the power to
direct the affairs of the Partnerships, including
the disposition of the proceeds from the sale of
the Shares.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
K. William F. Mellin
-----------------
(a) Aggregate number of Shares beneficially owned: 76,500
Percentage: 1.3%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 76,500
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 76,500
(c) None.
(d) Each of the General Partners has the power to
direct affairs of the Partnerships, including the
disposition of the proceeds from the sale of the
Shares.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
L. Meridee A. Moore
----------------
(a) Aggregate number of Shares beneficially owned: 76,500
Percentage: 1.3%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 76,500
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 76,500
(c) None.
(d) Each of the General Partners has the power to
direct affairs of the Partnerships, including the
disposition of the proceeds from the sale of the
Shares.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
M. Eric M. Ruttenberg
------------------
(a) Aggregate number of Shares beneficially owned: 76,500
Percentage: 1.3%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: 76,500
3. Sole power to dispose or to direct the
disposition: -0-
4. Shared power to dispose or to direct the
disposition: 76,500
(c) None.
(d) Each of the General Partners has the power to
direct the affairs of the Partnerships, including
the disposition of the proceeds from the sale of
the Shares.
(e) The General Partners, the Partnerships and FCMI
ceased to be the beneficial owner of more than 5
percent of the shares of United Stationers Common
Stock on March 31, 1995.
SIGNATURES
-----------
After reasonable inquiry and to the best of our knowledge
and belief, the undersigned certify that the information set
forth in this statement is true, complete and correct.
Dated: April 13, 1995
/s/Thomas F. Steyer
--------------------------------------
Thomas F. Steyer, as General Partner
of FARALLON CAPITAL INSTITUTIONAL
PARTNERS, L.P., FARALLON CAPITAL
INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL PARTNERS, L.P., and
TINICUM PARTNERS, L.P. and as Chairman
of FARALLON CAPITAL MANAGEMENT, INC.
/s/Thomas F. Steyer
--------------------------------------
Thomas F. Steyer, individually and as
attorney-in-fact for each of David I.
Cohen, Joseph F. Downes, Fleur E.
Fairman, Jason M. Fish, William F.
Mellin, Meridee A. Moore and Eric M.
Ruttenberg.
<PAGE>
SCHEDULE A
-----------
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.
----------------------------------------------
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
---------- ------------- ---------
(including commissions)
03/31/95 30,000 $15.50
03/31/95 39,400 $15.50
03/31/95 252,000 $15.50
03/31/95 12,600 $15.50
03/31/95 17,300 $15.50
03/31/95 13,100 $15.50
03/31/95 186,461 $15.50
<PAGE>
SCHEDULE B
-----------
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.
------------------------------------------------
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
---------- ------------- ---------
(including commissions)
03/31/95 3,700 $15.50
03/31/95 4,900 $15.50
03/31/95 60,000 $15.50
03/31/95 3,000 $15.50
03/31/95 1,100 $15.50
03/31/95 1,400 $15.50
03/31/95 15,564 $15.50
<PAGE>
SCHEDULE C
----------
FARALLON CAPITAL PARTNERS, L.P.
-------------------------------
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
---------- ------------- ---------
(including commissions)
03/31/95 24,000 $15.50
03/31/95 31,000 $15.50
03/31/95 150,000 $15.50
03/31/95 7,500 $15.50
03/31/95 14,000 $15.50
03/31/95 18,200 $15.50
03/31/95 231,506 $15.50
<PAGE>
SCHEDULE D
----------
TINICUM PARTNERS, L.P.
-----------------------
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
---------- ------------- ---------
(including commissions)
03/31/95 4,500 $15.50
03/31/95 5,900 $15.50
03/31/95 36,000 $15.50
03/31/95 1,800 $15.50
03/31/95 1,100 $15.50
03/31/95 1,400 $15.50
03/31/95 14,369 $15.50
<PAGE>
SCHEDULE E
----------
MANAGED ACCOUNTS
----------------
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
---------- ------------- ---------
(including commissions)
03/31/95 2,300 $15.50
03/31/95 3,000 $15.50
03/31/95 6,000 $15.50
03/31/95 7,900 $15.50
03/31/95 4,500 $15.50
03/31/95 5,900 $15.50
03/31/95 18,000 $15.50
03/31/95 48,000 $15.50
03/31/95 36,000 $15.50
03/31/95 1,800 $15.50
03/31/95 2,400 $15.50
03/31/95 900 $15.50
03/31/95 1,100 $15.50
03/31/95 1,400 $15.50
03/31/95 2,500 $15.50
03/31/95 3,200 $15.50
03/31/95 2,100 $15.50
<PAGE>
MANAGED ACCOUNTS
-----------------
Continued
---------
NO. OF SHARES PRICE
TRADE DATE PURCHASED PER SHARE
---------- ------------- ---------
(including commissions)
03/31/95 2,700 $15.50
03/31/95 31,532 $15.50
03/31/95 24,118 $15.50
03/31/95 22,000 $15.50
03/31/95 296 $15.50
