SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
Sunbeam Corporation
(Name of Issuer)
Common Stock, Par Value $.01
(Title of Class of Securities)
867071 10 2
(CUSIP Number)
Schulte Roth & Zabel
900 Third Avenue, New York, NY 10022, Attn: Andre Weiss, Esq.
(Name, address and telephone number of person
authorized to receive notices and communications)
with a copy to:
Skadden Arps Meagher & Flom
919 Third Avenue, New York, NY 10022, Attn: Richard T. Prins, Esq.
(Name, address and telephone number of person
authorized to receive notices and communications)
September 20, 1996
(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.)
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 the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
13D
CUSIP No. 867071 10 2
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Steinhardt 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 **
Not Applicable
____________________________________________________________
(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
20,915
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
20,915
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
20,915
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.03%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
<PAGE>
13D
CUSIP No. 867071 10 2
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
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 **
Not Applicable
____________________________________________________________
(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
1,234,858
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,234,858
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,234,858
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
<PAGE>
13D
CUSIP No. 867071 10 2
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
I.P. Management Company, Inc.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
Not Applicable
____________________________________________________________
(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
1,234,858
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,234,858
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,234,858
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
<PAGE>
13D
CUSIP No. 867071 10 2
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Steinhardt Management Company, Inc.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
Not Applicable
____________________________________________________________
(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
1,089,469
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,089,469
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,089,469
_____________________________________________________________________________
(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 **
CO
_____________________________________________________________________________
<PAGE>
13D
CUSIP No. 867071 10 2
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Michael H. Steinhardt
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
Not Applicable
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
1,182,949
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
2,406,250
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
1,182,949
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
2,406,250
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
3,589,199
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
4.4%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
<PAGE>
13D
CUSIP No. 867071 10 2
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Mutual Shares Fund
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
Not Applicable
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
11,260,174
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
11,260,174
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
11,260,174
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
13.7%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IC
_____________________________________________________________________________
<PAGE>
13D
CUSIP No. 867071 10 2
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Mutual Qualified Fund
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
Not Applicable
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
4,800,554
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
4,800,554
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
4,800,554
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
5.8%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IC
_____________________________________________________________________________
<PAGE>
13D
CUSIP No. 867071 10 2
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Mutual Beacon Fund
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
Not Applicable
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
1,480,670
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,480,670
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,480,670
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.8%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IC
_____________________________________________________________________________
<PAGE>
13D
CUSIP No. 867071 10 2
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Heine Securities Corporation
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
Not Applicable
____________________________________________________________
(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
17,541,398
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
17,541,398
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
17,541,398
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
21.4%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
<PAGE>
13D
CUSIP No. 867071 10 2
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Michael F. Price
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
Not Applicable
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
17,541,398
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
17,541,398
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
17,541,398
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
21.4%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
<PAGE>
The Schedule 13D, initially filed on April 8, 1993, as amended by
Amendment No. 1, filed on July 23, 1993, Amendment No. 2, filed on April 20,
1994, Amendment No. 3, filed on November 23, 1994, Amendment No. 4, filed on
December 8, 1994, Amendment No. 5 filed on January 2, 1996, and Amendment No.
6 filed on September 18, 1996 (collectively, the "Schedule 13D"), of
Steinhardt Partners, L.P. ("Steinhardt Partners"), Institutional Partners,
L.P. ("Institutional"), I.P. Management Company, Inc. ("IP Management"),
Steinhardt Management Company, Inc. ("Steinhardt Management"), Michael H.
Steinhardt, Mutual Shares Fund ("MSF"), Mutual Beacon Fund ("MBF"), Mutual
Qualified Fund ("MQF"), Heine Securities Corporation ("HSC")and Michael F.
Price, relating to the Common Stock, par value $0.01 per share (the
"Common Stock"), issued by Sunbeam Corporation, a Delaware corporation whose
principle executive offices are located at 2100 New River Center, 200 East Las
Olas Boulevard, Fort Lauderdale, FL 33301 (the "Company"), is hereby amended
and restated by this Amendment No. 7 to the Schedule 13D as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and restated in its entirety as follows:
(a) As a result of the distribution on September 20, 1996, of shares of
Common Stock by each of Steinhardt Partners, Institutional and SP
International to their respective investors, (i) Steinhardt Partners owns
20,915 shares of Common Stock representing approximately .03% of the issued
and outstanding shares of Common Stock; (ii)Institutional owns 1,234,858
shares of Common Stock representing approximately 1.5% of the issued and
outstanding shares of Common Stock; (iii) SP International owns 1,089,469
shares of Common Stock representing approximately 1.3% of the issued and
outstanding shares of Common Stock; (iv) IP Management owns directly no shares
of Common Stock;(v) Steinhardt Management owns directly no shares of Common
Stock; and (vi) Mr. Steinhardt owns (1)directly 1,182,949 shares of Common
Stock representing approximately 1.4% of the issued and outstanding shares of
Common Stock, and (2) indirectly through a family partnership controlled by
him 61,008 shares representing approximately .07% of the issued and
outstanding shares of Common Stock. By reason of the provisions of Rule 13d-3
under the Securities Exchange Act of 1934, as amended (the "Act"), Steinhardt
Management may be deemed to own beneficially the shares of Common Stock owned
by SP International (1,089,469 shares of Common Stock representing
approximately 1.3% of the issued and outstanding shares of Common Stock), IP
Management may be deemed to own beneficially the shares of Common Stock owned
by Institutional (1,234,858 shares of Common Stock representing approximately
1.5% of the issued and outstanding shares of Common Stock), and Mr. Steinhardt
may be deemed to own beneficially the shares of Common Stock owned by
Steinhardt Partners, Institutional, SP International and his family
partnership (together with the shares of Common Stock owned directly by Mr.
Steinhardt, 3,589,199 shares of Common Stock representing approximately 4.4%
of the issued and outstanding shares of Common Stock).
MSF owns 11,260,174 shares of Common Stock representing approximately
13.7% of the issued and outstanding shares of Common Stock, MPF owns 4,800,544
shares of Common Stock representing approximately 5.8% of the issued and
outstanding shares of Common Stock and MBF owns 1,480,670 shares of Common
Stock representing approximately 1.8% of the issued and outstanding shares of
Common Stock.
Mr. Price and HSC own directly no shares of Common Stock. By reason of
the provisions of Rule 13d-3 under the Act, Mr. Price and HSC may be deemed to
own beneficially the shares of Common Stock owned by MSF, MQF, and MBF
(17,541,398 representing approximately 21.4% of the issued and outstanding
shares of Common Stock).
The percentages used in this paragraph (a) are calculated based upon
82,068,351 shares of Common Stock stated to be issued and outstanding at
July 22, 1996 as reflected in the Company's Form 10-Q filed with the
Securities and Exchange Commission by the Company.
(b) Each of Steinhardt Partners and Institutional has the power to vote
and to dispose of the shares of Common Stock owned by them, which power
may be exercised by Mr. Steinhardt, as Managing Partner, of each of Steinhardt
Partners and Institutional. Institutional is also a party to an investment
management agreement with IP Management, pursuant to which IP Management has
investment responsibility with respect to the portfolio of Institutional. As
principal of IP Management, Mr. Steinhardt has the power to vote (or to direct
the vote of) and to dispose (or to direct the disposition of) the shares of
Common Stock held by Institutional. SP International is a party to an
investment management agreement with Steinhardt Management pursuant to which
Steinhardt Management has investment responsibility with respect to the
portfolio of SP International. As principal of Steinhardt Management, Mr.
Steinhardt has the power to vote (or to direct the vote of) and to dispose of
(or to direct the disposition of) the shares of Common Stock held by the SP
International. In addition, Mr. Steinhardt has the power to vote and to
dispose of the shares of Common Stock held by his family partnership.
Each of MSF, MQF and MBF is a party to a separate investment management
agreement with HSC pursuant to which HSC has investment responsibility with
respect to the portfolios of MSF, MQF and MBF. As principal of HSC, Mr. Price
has the power to vote (or direct the vote of) and to dispose (or to direct the
disposition of) the shares of Common Stock held by MSF, MQF and MBF.
(c) Effective as of September 20,1996, each of Steinhardt Partners,
Institutional and SP International distributed shares of Common stock to
investors pro rata in accordance with ownership percentages. No consideration
was paid in connection therewith. Steinhardt Partners distributed 4,715,262
shares of Common Stock. Institutional distributed 6,063,503 shares of Common
Stock. SP International distributed 3,153,377 shares of Common Stock.
Michael H. Steinhardt acquired 466,513 shares of Common Stock as a result of
the distribution of shares of Common Stock by Steinhardt Partners and
Institutional, and his family partnership acquired 61,008 shares of Common
Stock as a result of the distribution of shares of Common Stock by Steinhardt
Partners.
(d) Not applicable.
(e) As of September 20, 1996, each of Steinhardt Partners,
Institutional, I.P. Management, Steinhardt Management, and Michael H.
Steinhardt (together with Mr. Steinhardt's family partnership and other
general partners of Steinhardt Partners that received shares in the
distribution) ceased individually or as a group to be the beneficial owners of
more than five percent of the Common Stock outstanding.
Item 6. Contracts, Agreements, Understandings or Relationships with Respect
to Securities of the Issuer.
Item 6 is hereby amended and restated in its entirety as follows:
The Stockholders Agreement that was filed as Exhibit B to Amendment
No. 5 to the Schedule 13D has terminated.
<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. This Amendment No. 7 may be executed in
counterparts, each of which shall be deemed an original and all of which,
taken together, shall constitute but one and the same instrument.
DATED: September 20, 1996 /s/ Lisa Addeo, attorney-in-fact for
Michael H. Steinhardt, individually
and as managing partner of each of
STEINHARDT PARTNERS, L.P. and
INSTITUTIONAL PARTNERS, L.P., and as
president of each of I.P. MANAGEMENT COMPANY,
INC. and STEINHARDT MANAGEMENT COMPANY,
INC.
/s/ Peter A. Langerman
Peter A. Langerman, as executive vice
president of each of MUTUAL SHARES FUND, a
series of Mutual Series Fund, Inc., MUTUAL
QUALIFIED FUND, a series of Mutual Series
Fund, Inc., and MUTUAL BEACON FUND, a series
of Mutual Series Fund, Inc.
/s/ Bradley Takahashi, attorney-in-fact for
Michael F. Price, individually and as
president of HEINE SECURITIES CORPORATION
