<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
UNITED STATIONERS INC. (USTR)
(Name of Issuer)
Common Stock, per value $.10 per
share
(Title of Class of Securities)
CUSIP No. 913004107
(CUSIP Number)
Thomas F. Steyer
Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California
94111
(415)421-2132
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 8, 1997
(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: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are
to be sent.
* 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 that Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 249,828
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
249,828
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
249,828
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
1.6 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 32 Pages
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 195,166
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
195,166
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
195,166
- ---------======================================================================
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*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 0f 32 Pages
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 58,532
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
58,532
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
58,532
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.4 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 32 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 913004107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Institutional Partners III, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 22,302
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
22,302
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
22,302
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.1 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 32 Pages
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 33,667
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
33,667
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
33,667
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.2%
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 32 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 913004107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Management, L.L.C.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 147,313
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
147,313
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
147,313
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
1.0 %
- ---------======================================================================
14 Type of Reporting Person*
IA, 00
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 32 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 913004107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Partners, L.L.C.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 559,495
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
559,495
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
559,495
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
3.6 %
- ---------======================================================================
14 Type of Reporting Person*
00
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 32 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 913004107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Enrique H. Boilini
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
N/A
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
Argentina
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 706,808
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
706,808
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
706,808
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
4.6%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 32 Pages
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 706,808
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
706,808
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
706,808
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
4.6%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 32 Pages
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 706,808
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
706,808
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
706,808
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
4.6%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 32 Pages
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 559,495
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
559,495
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
559,495
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
3.6%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 32
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 706,808
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
706,808
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
706,808
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
4.6%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 32 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 913004107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Andrew B. Fremder
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 706,808
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
706,808
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
706,808
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
4.6%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 14 of 32 Pages
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 706,808
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
706,808
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
706,808
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
4.6%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 15 of 32 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 913004107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Stephen L. Millham
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 706,808
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
706,808
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
706,808
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
4.6%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 16 of 32 Pages
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 706,808
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
706,808
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
706,808
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
4.6%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 17 of 32 Pages
<PAGE>
SCHEDULE 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*
N/A
- ---------======================================================================
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
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 706,808
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
706,808
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
706,808
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
4.6%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 18 of 32 Pages
<PAGE>
This Amendment No. 3 to Schedule 13D amends the Schedule 13D initially
filed February 13, 1997 (collectively, with all amendments thereto, the
"Schedule 13D").
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is amended and restated in its entirety as
follows:
A. Farallon Capital Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCP is incorporated herein by
reference. The percentage amount set forth in Row 13 of such
cover page and of each other cover page filed herewith is
calculated based upon the 15,402,643 Shares outstanding as of
November 3, 1997 as reported by the Company in its Form 10Q
for the period ended September 30, 1997.
(c) The trade dates, number of Shares purchased or sold and the price per
Share for all purchases and sales of the Shares since the filing of
the prior Schedule 13D are set forth on Schedule A hereto and are
incorporated herein by reference. All of such transactions were
open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of FCP,
including the disposition of the proceeds of the sale of the Shares.
Steyer is the senior managing member of FPLLC, and Boilini, Cohen,
Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are managing
members of FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
B. Farallon Capital Institutional Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCP is incorporated herein by
reference.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares since the
filing of the prior Schedule 13D are set forth on Schedule B hereto
and are incorporated herein by reference. All of such transactions
were open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of
FCIP, including the disposition of the proceeds of the sale of the
Shares. Steyer is the senior managing member of FPLLC, and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
Page 19 of 32 Pages
<PAGE>
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
C. Farallon Capital Institutional Partners II, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCP is incorporated herein by
reference.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares since the
filing of the prior Schedule 13D are set forth on Schedule C hereto
and are incorporated herein by reference. All of such transactions
were open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of FCIP
II, including the disposition of the proceeds of the sale of the
Shares. Steyer is the senior managing member of FPLLC, and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
D. Farallon Capital Institutional Partners III, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCP is incorporated herein by
reference.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares since the
filing of the prior Schedule 13D are set forth on Schedule D hereto
and are incorporated herein by reference. All of such transactions
were open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of FCIP
III, including the disposition of the proceeds of the sale of the
Shares. Steyer is the senior managing member of FPLLC, and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
E. Tinicum Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCP is incorporated herein by
reference.
Page 20 of 32 Pages
<PAGE>
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares since the
filing of the prior Schedule 13D are set forth on Schedule E hereto
and are incorporated herein by reference. All of such transactions
were open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of
Tinicum, including the disposition of the proceeds of the sale of
the Shares. Steyer is the senior managing member of FPLLC, and
Boilini, Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and
Moore are managing members of FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
F. Farallon Capital Management, L.L.C.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCP is incorporated herein by
reference.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares since the
filing of the prior Schedule 13D are set forth on Schedule F hereto
and are incorporated herein by reference. All of such transactions
were open-market transactions.
(d) FCMLLC, as an investment adviser, has the power to direct the
disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Steyer is the senior managing member of FPLLC, and
Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham and Moore are
managing members of FCMLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
G. Farallon Partners, L.L.C.
(a), (b) The information set forth in rows 7, 8, 9, 10, 11, and 13 of
the cover page hereto for FPLLC is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale
of the Shares. Steyer is the senior managing member of FPLLC and
Boilini, Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and
Moore are managing members of FPLLC.
Page 21 of 32 Pages
<PAGE>
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
H. Enrique H. Boilini
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Boilini is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale
of the Shares. FCMLLC, as an investment adviser, has the power to
direct the disposition of the proceeds of the sale of the Shares
held by the Managed Accounts. Boilini is a managing member of FCMLLC
and FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
I. David I. Cohen
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Cohen is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale
of the Shares. FCMLLC, as an investment adviser, has the power to
direct the disposition of the proceeds of the sale of the Shares
held by the Managed Accounts. Cohen is a managing member of FCMLLC
and FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
J. Joseph F. Downes
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Downes is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale
of the Shares. FCMLLC, as an investment adviser, has the power to
direct the disposition of the proceeds of the sale of the Shares
held by the Managed Accounts. Downes is a managing member of FCMLLC
and FPLLC.
Page 22 of 32 Pages
<PAGE>
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
K. Fleur E. Fairman
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fairman is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. Fairman is a managing member of FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the
beneficial owner of 5% or more of the Shares.
L. Jason M. Fish
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fish is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Fish is a managing member of FCMLLC and FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
M. Andrew B. Fremder
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fremder is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Fremder is a managing member of FCMLLC and FPLLC.
Page 23 of 32 Pages
<PAGE>
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
N. William F. Mellin
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Mellin is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Mellin is a managing member of FCMLLC and FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
O. Stephen L. Millham
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Millham is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Millham is a managing member of FCMLLC and FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
P. Meridee A. Moore
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Moore is incorporated herein by reference.
(c) None.
Page 24 of 32 Pages
<PAGE>
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Moore is a managing member of FCMLLC and FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
Q. Thomas F. Steyer
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Steyer is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Steyer is the senior managing member of FCMLLC and
FPLLC.
(e) As of December 8, 1997, the Reporting Person is not the beneficial
owner of 5% or more of the Shares.
The Shares reported hereby for the Partnerships and FCMLLC on behalf of
the Managed Accounts are owned directly by such entities. Each of Boilini,
Cohen, Downes, Fish, Fremder, Mellin, Millham, Moore and Steyer may be deemed,
as managing members of FPLLC and FCMLLC, to be the beneficial owner of all such
Shares. Each of FPLLC and Fairman, as a managing member of FPLLC, may be deemed
to be the beneficial owner of all such Shares owned by the Partnerships. FCMLLC
may be deemed to be the beneficial owner of all such Shares owned by the Managed
Accounts. Each of FCMLLC, FPLLC, Boilini, Cohen, Downes, Fairman, Fish, Fremder,
Mellin, Millham, Moore and Steyer hereby disclaim any beneficial ownership of
any such Shares.
Page 25 of 32 Pages
<PAGE>
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: December 17, 1997
/s/ Thomas F. Steyer
FARALLON PARTNERS, L.L.C.,
on its own behalf and as General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL
PARTNERS, L.P., FARALLON CAPITAL
INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL
PARTNERS III, L.P. and TINICUM PARTNERS,
L.P.
by Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
FARALLON CAPITAL MANAGEMENT, L.L.C.
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
Thomas F. Steyer, individually and as
attorney-in-fact for each of Enrique H.
Boilini, David I. Cohen, Joseph F. Downes,
Fleur E. Fairman, Jason M. Fish, Andrew B.
Fremder, William F. Mellin, Stephen L.
Millham, and Meridee A. Moore.
The Powers of Attorney each executed by Boilini, Cohen, Downes, Fairman,
Fish, Fremder, Mellin, Millham and Moore authorizing Steyer to sign and file
this Schedule 13D on each person's behalf was filed with Amendment No. 1 to the
Schedule 13D filed with the SEC on September 26, 1997 by such Reporting Persons
with respect to the Common Stock of Sphere Drake Holdings Limited are hereby
incorporated by reference.
Page 26 of 32 Pages
<PAGE>
SCHEDULE A
FARALLON CAPITAL PARTNERS, L.P.
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
(including commission)
12/5/97 3,400 $43.84
12/8/97 5,700 $46.05
12/9/97 7,300 $46.50
12/10/97 3,700 $47.03
12/12/97 5,100 $46.99
12/16/97 900 $45.62
Page 27 of 32 Pages
<PAGE>
SCHEDULE B
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
(including commission)
12/5/97 2,700 $43.84
12/8/97 4,300 $46.05
12/9/97 5,700 $46.50
12/10/97 2,900 $47.03
12/12/97 4,000 $46.99
12/16/97 800 $45.62
Page 28 of 32 Pages
<PAGE>
SCHEDULE C
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
(including commission)
12/5/97 800 $43.84
12/8/97 1,300 $46.05
12/9/97 1,700 $46.50
12/10/97 900 $47.03
12/12/97 1,200 $46.99
12/16/97 200 $45.63
Page 29 of 32 Pages
<PAGE>
SCHEDULE D
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
(including commission)
12/5/97 300 $43.84
12/8/97 500 $46.05
12/9/97 700 $46.50
12/10/97 300 $47.03
12/12/97 400 $46.99
12/16/97 100 $45.62
Page 30 of 32 Pages
<PAGE>
SCHEDULE E
TINICUM PARTNERS, L.P.
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
(including commission)
12/5/97 500 $43.84
12/8/97 700 $46.05
12/9/97 400 $46.50
12/10/97 500 $47.03
12/12/97 700 $46.99
12/16/97 100 $45.62
Page 31 of 32 Pages
<PAGE>
SCHEDULE F
FARALLON CAPITAL MANAGEMENT, L.L.C.
NO. OF SHARES PRICE
TRADE DATE SOLD PER SHARE
(including commission)
12/5/97 1,200 $43.84
12/8/97 2,000 $46.05
12/9/97 2,700 $46.49
12/10/97 1,300 $47.03
12/12/97 1,800 $46.99
12/16/97 400 $45.63
12/5/97 200 $43.84
12/8/97 300 $46.05
12/9/97 400 $46.50
12/10/97 200 $47.03
12/12/97 300 $46.99
12/16/97 100 $45.62
12/5/97 600 $43.84
12/8/97 900 $46.05
12/9/97 1,200 $46.49
12/10/97 600 $47.03
12/12/97 800 $46.99
12/16/97 200 $45.63
Page 32 of 32 Pages
