SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
Fort James Corporation
(as successor by merger to Fort Howard Corporation)*
(Name of Issuer)
Common Stock, par value $.10
(Title of Class of Securities)
347471104
(CUSIP Number)
Check the following box if a fee is being paid with this statement |_|.
- --------
* On August 13, 1997, a wholly owned subsidiary of James River
Corporation was merged with and into Fort Howard Corporation. In
connection with the merger, each shareholder of Fort Howard Corporation
received 1.375 shares of James River Common Stock in exchange for each
share held of Fort Howard Common Stock and James River Corporation was
renamed Fort James Corporation.
<PAGE>
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CUSIP No. 347471104 13G Page 2 of 20 Pages
- --------------------- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Morgan Stanley Leveraged Equity Fund II, Inc.
06-1214256
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 2,470,396
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
2,470,396
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,470,396
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.2
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP No. 347471104 13G Page 3 of 20 Pages
- --------------------- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Morgan Stanley Leveraged Equity Holdings, Inc.
13-3431127
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 389,982
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
389,982
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
389,982
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 1
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP No. 347471104 13G Page 4 of 20 Pages
- --------------------- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Morgan Stanley Equity Investors, Inc.
13-3504812
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 370,606
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
370,606
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
370,606
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 1
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP No. 347471104 13G Page 5 of 20 Pages
- --------------------- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Morgan Stanley, Dean Witter, Discover & Co. (as successor
by merger to Morgan Stanley Group, Inc.)
36-3145972
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
3,114,372
--------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES 3,230,984
BENEFICIALLY --------------------------------------------
OWNED BY 7 SOLE DISPOSITIVE POWER
EACH 3,114,372
REPORTING --------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 3,230,984
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,345,356
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.0
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP No. 347471104 13G Page 6 of 20 Pages
- --------------------- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
First Plaza Group Trust
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 8,070,881
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
8,070,881
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,070,881
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.9
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
EP
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP No. 347471104 13G Page 7 of 20 Pages
- --------------------- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
General Motors Investment Management Corporation
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 8,070,881
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
8,070,881
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,070,881
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.9
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IA, CO
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP No. 347471104 13G Page 8 of 20 Pages
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- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Long Term Investment Trust
13-3187026
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
EP
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP No. 347471104 13G Page 9 of 20 Pages
- --------------------- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Paul J. Schierl
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
41,250
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 137
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 41,250
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
137
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
41,387
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 1
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP No. 347471104 13G Page 10 of 20 Pages
- --------------------- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Paul J. Schierl Trust
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Wisconsin
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 137
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
137
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
137
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 1
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
00
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP No. 347471104 13G Page 11 of 20 Pages
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1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Dr. David A. Cofrin
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
1,498,750
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 10,312
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 1,498,750
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
10,312
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,509,062
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 1
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
Page 12 of 20 Pages
Item 1(a). Name of Issuer.
Fort James Corporation (the "Company"). On August 13, 1997, a wholly
owned subsidiary of James River Corporation ("James River") was merged with and
into Fort Howard Corporation ("Fort Howard"). In connection with the merger,
each shareholder of Fort Howard received 1.375 shares of James River Common
Stock in exchange for each share held of Fort Howard Common Stock and James
River Corporation was renamed Fort James Corporation.
Item 1(b). Address of Issuer's Principal Executive Offices.
75 Tri-State International Office Center
Suites 100 and 175
Lincolnshire, Illinois 60069
Item 2(a). Name of Person Filing.
This statement is filed on behalf of the persons identified in Item 4
below. In accordance with Rule 13d-1(f)(1) under the Securities Exchange Act of
1934, as amended (the "Exchange Act"), each person filing this statement
acknowledges that it is responsible for the completeness and accuracy of the
information concerning that person but is not responsible for the completeness
or accuracy of the information concerning the other persons making the filing,
unless such person knows or has reason to believe that such information is
inaccurate.
Item 2(b). Address of Principal Business Office or, if None, Residence.
The business address of Morgan Stanley, Dean Witter, Discover & Co.
("Morgan Stanley") is 1585 Broadway, New York, New York 10036.
The business address of each of Morgan Stanley Leveraged Equity Fund
II, Inc., Morgan Stanley Leveraged Equity Holdings, Inc. and Morgan Stanley
Equity Investors Inc. is 1221 Avenue of the Americas, New York, New York 10020.
The business address of First Plaza Group Trust is c/o Mellon Bank,
N.A., One Mellon Bank Center, Pittsburgh, Pennsylvania 15258.
The business address of General Motors Investment Management
Corporation is 767 Fifth Avenue, New York, New York 10153.
The business address of Long Term Investment Trust is c/o AT&T
Investment Management Corporation, One Oak Way, Berkeley Heights, New Jersey
07922.
The business address of Paul J. Schierl is 200 S. Washington Street,
Suite 305, Green Bay, WI 54301.
The business address of Paul J. Schierl Trust is 200 S. Washington
Street, Suite 305, Green Bay, WI 54301.
The business address of Dr. David A. Cofrin is 141 North West 46th
Street, Gainesville, FL 32607.
<PAGE>
Page 13 of 20 Pages
Item 2(c). Citizenship.
Each of the persons filing this statement is a United States citizen, a
corporation or limited partnership organized under the laws of a state of the
United States or a trust created or governed under the laws of a state of the
United States.
Item 2(d). Title of Class of Securities.
This statement relates to the Company's Common Stock, $.10 par value
per share.
Item 2(e). CUSIP Number.
347471104
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:
(a) |_| Broker or Dealer registered under Section 15 of the Act,
(b) |_| Bank as defined in Section 3(a)(6) of the Act,
(c) |_| Insurance Company as defined in Section 3(a)(19) of the Act,
(d) |_| Investment Company registered under Section 8 of the
Investment Company Act,
(e) |_| Investment Adviser registered under Section 203 of the
Investment Advisors Act of 1940,
(f) |_| Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security Act
of 1974 or Endowment Fund; see Section 240.13d-
1(b)(1)(ii)(F),
(g) |_| Parent Holding Company, in accordance with Section
240.13d-1(b)(1)(ii)(G) (Note: See Item 7),
(h) |_| Group, in accordance with Section 240.13d-1(b)(1)(ii)(H).
Not applicable.
Item 4. Ownership.
(a), (b) and (c)
The Company, Morgan Stanley (as successor by merger to Morgan Stanley
Group, Inc.), certain other investors and certain management investors (each, a
"Holder") were formerly parties to a stockholders agreement (the "Stockholders
Agreement") of Fort Howard Corporation ("Fort Howard"), which contained
<PAGE>
Page 14 of 20 Pages
certain restrictions with respect to the transferability of Fort Howard Common
Stock by certain parties thereunder, certain registration rights granted by Fort
Howard with respect to such shares and certain arrangements with respect to the
nomination of designees to the Fort Howard Board of Directors.
Under the terms of the Stockholders Agreement, if one or more Holders
(other than the management investors) (each, a "Controlling Shareholder") sold a
majority of the shares of Fort Howard Common Stock subject to the Stockholders
Agreement to a third party, certain other Holders had the right to elect to sell
on the same terms the same percentage of such other Holder's shares to the third
party as the Controlling Shareholder was selling of its shares of Common Stock.
In addition, if a Controlling Shareholder sold all of its shares of Fort Howard
Common Stock to a third party, the Controlling Stockholder had the right to
require that certain remaining Holders sell all of their shares to the third
party on the same terms. Consistent with their relationship under the
Stockholders Agreement, certain of the parties to the Stockholders Agreement and
certain of their affiliates jointly filed a Statement on Schedule 13G on
February 13, 1996 and an Amendment No. 1 to the Statement on Schedule 13-G on
February 14, 1997.
On August 13, 1997, a wholly owned subsidiary of James River was merged
with and into Fort Howard. In connection with the merger, each shareholder of
Fort Howard received 1.375 shares of James River Common Stock in exchange for
each share held of Fort Howard Common Stock. In addition, upon consummation of
the merger, the Stockholders Agreement was terminated on August 13, 1997. As a
result, certain of the parties to the Stockholders Agreement and certain of
their affiliates are filing this Amendment No. 2 to the Statement on Schedule
13-G to give notice that any group deemed to be formed as a result of the
relationship created by the Stockholders Agreement has been dissolved and that
all further filings with respect to transactions in the Company's Common Stock
will be filed, if required, by the reporting persons named herein in their
individual capacity.
The filing of this statement should not be construed as an admission by
any person that such person is, for purposes of Section 13(d) or 13(g) of the
Exchange Act, the beneficial owner of any securities covered by the statement,
other than the securities set forth opposite such person's name in the table
below. The table below indicates the beneficial ownership of Common Stock as of
December 31, 1997 of the persons filing this statement:
Beneficial Percent of
Ownership (1) Class (2)
------------- ----------
Morgan Stanley Leveraged 2,470,396 1.2
Equity Fund II, Inc. (3)
Morgan Stanley Leveraged 389,982 *
Equity Holdings, Inc. (3)
Morgan Stanley Equity Investors, Inc. (3) 370,606 *
Morgan Stanley, Dean Witter, 6,345,356 3.0
Discover & Co. (3)
First Plaza Group Trust (4) 8,070,881 3.9
<PAGE>
Page 15 of 20 Pages
Beneficial Percent of
Ownership (1) Class (2)
------------- ----------
Long Term Investment Trust (5) 0 0
Paul J. Schierl (6)(7) 41,387 *
Paul J. Schierl Trust (7) 137 *
Dr. David A. Cofrin (8) 1,509,062 *
- --------------------------------------------------------------------------------
(1) Each person has sole voting and dispositive power with respect to
the shares shown as beneficially owned, except as indicated below.
(2) Based on 209,300,000 shares of Common Stock outstanding as of
December 31, 1997.
(3) Morgan Stanley Leveraged Equity Fund II, Inc., Morgan Stanley
Leveraged Equity Holdings, Inc. and Morgan Stanley Equity Investors, Inc. are
wholly owned subsidiaries of Morgan Stanley. Morgan Stanley may be deemed to
have shared voting and dispositive power with respect to any shares held by
Morgan Stanley Leveraged Equity Fund II, Inc., Morgan Stanley Leveraged Equity
Holdings, Inc. and Morgan Stanley Equity Investors, Inc. Also, Morgan Stanley
owns directly 3,114,372 shares of Common Stock.
(4) Mellon Bank, N.A., acts as the trustee (the "Trustee") for First
Plaza Group Trust, a trust under and for the benefit of certain employee benefit
plans of General Motors Corporation and its subsidiaries. The 8,070,881 shares
of Common Stock held by the Trustee may be deemed to be beneficially owned by
General Motors Investment Management Corporation ("GMIMCo"), a wholly owned
subsidiary of General Motors Corporation. GMIMCo is serving as First Plaza Group
Trust's investment manager with respect to the 8,070,881 shares of Common Stock
held by the Trustee and in that capacity has sole power to direct the Trustee as
to voting and disposition of such shares. Because of the Trustee's limited role,
beneficial ownership by the Trustee is disclaimed.
(5) Does not include 7,519,159 shares of Common Stock held for the Long
Term Investment Trust for which State Street Global Advisors, Franklin Portfolio
Associates, Capital Guardian Trust Company, Equinox Capital Management, Inc. and
JP Morgan Investment Management, Inc. act as investment advisors. The Investment
Advisors have sole voting and dispositive power over the shares held by the Long
Term Investment Trust and, accordingly, beneficial ownership by the Long Term
Investment Trust is disclaimed.
(6) Includes 41,250 shares of Common Stock that are subject to
acquisition within 60 days pursuant to the exercise of stock options.
(7) Paul J. Schierl acts as the trustee to the Paul J. Schierl Trust
(the "Schierl Trust") and may be deemed to beneficially own the 137 Shares of
Common Stock held by the Schierl Trust.
(8) Includes 10,312 shares of Common Stock held in the name of
David A. Cofrin and Mary Ann H. Cofrin as joint tenants.
* = less than 1%
<PAGE>
Page 16 of 20 Pages
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following. |X|
Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
Not applicable.
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.
See Exhibit 1.
Item 9. Notice of Dissolution of Group.
See response to Item 4 and Exhibit 1.
Item 10. Certification.
Not applicable.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Date: February 13, 1998
MORGAN STANLEY, DEAN WITTER,
DISCOVER & CO.
By: /s/ Peter R. Vogelsang
-----------------------------------------
Name: Peter R. Vogelsang
Title: Secretary
MORGAN STANLEY LEVERAGED
EQUITY FUND II, INC.
By: /s/ Peter R. Vogelsang
-----------------------------------------
Name: Peter R. Vogelsang
Title: Secretary
MORGAN STANLEY LEVERAGED
EQUITY HOLDINGS, INC.
By: /s/ Peter R. Vogelsang
-----------------------------------------
Name: Peter R. Vogelsang
Title: Secretary
MORGAN STANLEY EQUITY
INVESTORS, INC.
By: /s/ Peter R. Vogelsang
-----------------------------------------
Name: Peter R. Vogelsang
Title: Secretary
<PAGE>
FIRST PLAZA GROUP TRUST
By: Mellon Bank, N.A., its trustee (as
directed by General Motors Investment
Management Corporation) solely in its
capacity as Trustee and not in its
individual capacity
By: /s/ Bernadette T. Rist
-----------------------------------------
Name: Bernadette Rist
Title: Authorized Signatory
GENERAL MOTORS INVESTMENT
MANAGEMENT CORPORATION
By: /s/ Margaret M. Eisen
-----------------------------------------
Name: Margaret M. Eisen
Title: Managing Director,
North American Equities
LONG TERM INVESTMENT TRUST
By: AT&T Investment Management Corporation
as named fiduciary of Trust
By: /s/ Peter Rosoff
-----------------------------------------
Name: Peter Rosoff
Title: Vice President
/s/ Paul J. Schierl
--------------------------------------------
Paul J. Schierl
PAUL J. SCHIERL TRUST
By: /s/ Paul J. Schierl
-----------------------------------------
Name: Paul J. Schierl
Title: Trustee
/s/ David A. Cofrin
--------------------------------------------
Dr. David A. Cofrin
Attention. Intentional misstatements or omissions of fact constitute
Federal criminal violations (See 18 U.S.C. 1001).
<PAGE>
Exhibit 1
On August 13, 1997, a wholly owned subsidiary of James River
Corporation ("James River") was merged with and into Fort Howard Corporation
("Fort Howard"). In connection with the merger, each shareholder of Fort Howard
received 1.375 shares of James River Common Stock in exchange for each share
held of Fort Howard Common Stock and James River Corporation was renamed Fort
James Corporation (the "Company"). In addition, upon consummation of the merger,
the Fort Howard Stockholders Agreement was terminated on August 13, 1997. As a
result, certain of the parties to the Fort Howard Stockholders Agreement and
certain of their affiliates are filing this Amendment No. 2 to the Statement on
Schedule 13-G to give notice that any group deemed to be formed as a result of
the relationship created by the Fort Howard Stockholders Agreement, has been
dissolved and that all further filings with respect to transactions in the
Company's Common Stock will be filed, if required, by the reporting persons
named below in their individual capacity.
1. Morgan Stanley, Dean Witter, Discover & Co.
(as successor by merger to Morgan Stanley Group, Inc.)
2. First Plaza Group Trust
3. Long Term Investment Trust (f/k/a AT&T Master Pension Trust)
4. Paul J. Schierl
5. Paul J. Schierl Trust
6. Dr. David A. Cofrin
7. Bankers Trust New York Corporation
<PAGE>
Exhibit 2
[MORGAN STANLEY, DEAN WITTER, DISCOVER & CO. letterhead]
MORGAN STANLEY
SECRETARY'S CERTIFICATE
-----------------------
I, Charlene R. Herzer, a duly elected and acting Assistant
Secretary of Morgan Stanley, Dean Witter, Discover & Co., a corporation
organized and existing under the laws of the State of Delaware (the
"Corporation"), certify that, as approved by a Unanimous Consent of Directors in
Lieu of a Meeting dated as of May 31, 1997, Peter R. Vogelsang is authorized to
sign any documents on behalf of the Corporation which are to be filed with any
government or regulatory agency in connection with the Merchant Banking
Division.
IN WITNESS WHEREOF, I have hereunto set my name and affixed
the seal of the Corporation as of the 11th day of February, 1998.
/s/ Charlene R. Herzer
----------------------
Charlene R. Herzer
Assistant Secretary
[SEAL]
