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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
Friendly Ice Cream Corporation
------------------------------
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
------------------------------
358497105
--------------
(CUSIP Number)
February 18, 1999
-------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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- -------------------------- ------------------------
CUSIP No. 358497105 13G Page 2 of 8 Pages
- -------------------------- ------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Daniel S. Loeb
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
None
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 398,307
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH None
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
398,307
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
398,307
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.3%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
-2-
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- -------------------------- ------------------------
CUSIP No. 358497105 13G Page 3 of 8 Pages
- -------------------------- ------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Third Point Management Company L.L.C.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
None
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 398,307
OWNED BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
398,307
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
398,307
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.3%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
-3-
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Item 1(a): Name of Issuer:
- ---------- ---------------
Friendly Ice Cream Corporation (the "Company").
Item 1(b): Address of Issuer's Principal Executive Offices:
- ---------- ------------------------------------------------
1855 Boston Road
Wilbraham, Massachusetts 01095
Items 2(a) Name of Person Filing; Address of Principal
and 2(b): Business Office:
- --------- -------------------------------------------
This statement is filed by and on behalf of (i)
Daniel S. Loeb, in his capacity as the managing
member of Third Point Management Company L.L.C.
("TPM") and (ii) TPM. The principal business address
of each reporting person is 277 Park Avenue, 27th
Floor, New York, New York 10172.
The shares of Common Stock, par value $.01, of the
Company ("Common Stock") which are the subject of
this statement are held directly by the managed
accounts for which TPM or Mr. Loeb serve as
discretionary investment manager (collectively, the
"Managed Accounts").
Item 2(c): Citizenship:
- ---------- ------------
Mr. Loeb is a United States citizen. TPM is a
Delaware limited liability company.
Item 2(d): Title of Class of Securities:
- ---------- -----------------------------
Common stock, par value $.01 per share.
Item 2(e): CUSIP Number:
- ---------- -------------
358497105
Item 3: If this statement is filed pursuant to
- ------ s. 240.13d-1(c), check this box. [X]
-----------------------------------------
Items 4(a)-(c): Ownership:
- --------------- ----------
As of the date of this statement:
(i) Mr. Loeb had beneficial ownership of 398,307
shares of Common Stock by virtue of his position as
the managing member of TPM. Such shares represent
5.3% of the issued and outstanding Common Stock. Mr.
Loeb shares voting power and dispositive power over
such shares with TPM.
(ii) TPM had beneficial ownership of 398,307 shares
of Common Stock by virtue of its position as
discretionary investment manager to the Managed
Accounts holding such shares of Common Stock. Such
shares represent 5.3% of the issued and outstanding
Common Stock. TPM shares voting power and
dispositive power over such shares with Mr. Loeb.
-4-
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The percentages used herein are calculated based
upon the 7,461,600 shares of Common Stock stated to
be issued and outstanding as of November 10, 1998,
as reflected in the Company's Quarterly Report on
Form 10-Q for the quarter ended September 27, 1998.
Item 5: Ownership of Five Percent or Less of a Class:
- ------- ---------------------------------------------
Not Applicable.
Item 6: Ownership of More than Five Percent on
- ------- Behalf of Another Person:
---------------------------------------
No person other than the Managed Accounts is known
to have the right to receive or the power to direct
the receipt of dividends from or the proceeds of
sale of shares of Common Stock, except that the
respective shareholders, partners or owners, as
relevant, of the Managed Accounts have the right to
participate in the receipt of dividends from, or
proceeds upon the sale of, the shares of Common
Stock held for their respective accounts.
Item 7: Identification and Classification of the Subsidiary
- ------- Which Acquired the Security Being Reported on By the
Parent Holding Company:
----------------------------------------------------
Not Applicable.
Item 8: Identification and Classification of Members of the
- ------- Group:
---------------------------------------------------
Not Applicable.
Item 9: Notice of Dissolution of Group:
- ------- -------------------------------
Not Applicable.
Item 10: Certification:
- -------- --------------
By signing below each of the undersigned certifies
that, to the best of the undersigned's knowledge and
belief, the securities referred to above were not
acquired and are not held for the purpose of or with
the effect of changing or influencing the control of
the issuer of the securities and were not acquired
and are not held in connection with or as a
participant in any transaction having that purpose
or effect.
-5-
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SIGNATURE
---------
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, each of the undersigned certifies that the information set forth in
this statement is true, complete and correct.
Dated: March 3, 1999
THIRD POINT MANAGEMENT COMPANY L.L.C.
By: /s/ Daniel S. Loeb
----------------------
Daniel S. Loeb
Managing Member
/s/ Daniel S. Loeb
----------------------
Daniel S. Loeb
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EXHIBIT INDEX
-------------
Exhibit A: Joint Filing Agreement, dated March 3, 1999, between Third
Point Management Company L.L.C. and Daniel S. Loeb.
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Exhibit A
---------
JOINT FILING AGREEMENT
PURSUANT TO RULE 13d-1(k)(1)
----------------------------
The undersigned acknowledge and agree that the foregoing
statement on Schedule 13G is filed on behalf of each of the undersigned and that
all subsequent amendments to this statement on Schedule 13G shall be filed on
behalf of each of the undersigned without the necessity of filing additional
joint filing agreements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning it contained therein, but shall not
be responsible for the completeness and accuracy of the information concerning
the others, except to the extent that it knows or has reason to believe that
such information is inaccurate. This Agreement may be executed in any number of
counterparts and all of such counterparts taken together shall constitute one
and the same instrument.
Dated: March 3, 1999
THIRD POINT MANAGEMENT COMPANY L.L.C.
By: /s/ Daniel S. Loeb
-----------------------
Daniel S. Loeb
Managing Member
/s/ Daniel S. Loeb
-----------------------
Daniel S. Loeb
