SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 5 to
SCHEDULE 13D
Under the Securities Exchange Act of 1934
The Leslie Fay Company Inc.
---------------------------
(Name of Issuer)
Common Stock, $ .01 par value
(Title of Class of Securities)
527016109
---------
(CUSIP Number)
Abbe L. Dienstag, Esq.
Kramer, Levin, Naftalis & Frankel
919 Third Avenue
New York, New York 10022
(212) 715-9100
--------------
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
September 18, 19971
---------------
(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: |_|
Page 1 of 12 pages
- --------
1 The Reporting Persons believe that the Common Stock, $.01 par value, of the
Issuer has not been registered pursuant to Section 12 of the Securities
Exchange Act (the "Act") and, therefore, they are not required pursuant to
Rule 13(d)1 of the Act to file this Amendment No. 4 to Schedule 13D.
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 2 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN & CO., L.P. 13-3321472
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 806,368 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 806,368 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
806,368 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.7% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- 2 -
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 3 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN FOCUS FUND L.P. 13-3746015
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 143,100 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 143,100 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
143,100 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.2% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- 3 -
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 4 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN INTERNATIONAL LIMITED
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 143,696 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 143,696 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
143,696 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.2% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- 4 -
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 5 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN PARTNERS, L.P. 13-3544838
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 949,468 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 949,468 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
949,468 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.9% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- 5 -
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 6 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN PARTNERS INC. 13-3537972
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 1,093,164 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 1,093,164 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,093,164 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
32.2% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- 6 -
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 7 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MARK DICKSTEIN
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
PF, AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
31,879
NUMBER
OF 8) SHARED VOTING POWER
SHARES 1,093,164 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH 31,879
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
1,093,064 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,125,043 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.1% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- 7 -
<PAGE>
Amendment No. 5 to
Schedule 13D
This amends the Schedule 13D dated August 15, 1997 (the "Schedule
13D"), as amended by Amendment No. 1 dated August 21, 1997, Amendment No. 2
dated August 28, 1997, Amendment No. 3 dated September 5, 1997 and Amendment No.
4 dated September 10, 1997 filed by Dickstein & Co., L.P. ("Dickstein & Co."),
Dickstein Focus Fund L.P. ("Dickstein Focus"), Dickstein International Limited
("Dickstein International"), Dickstein Partners, L.P. ("Dickstein Partners"),
Dickstein Partners Inc. ("Dickstein Inc.") and Mark Dickstein with respect to
the Common Stock, $.01 par value (the "Common Stock"), of The Leslie Fay
Company, Inc., a Delaware corporation (the "Company"). Notwithstanding this
Amendment No. 5, the Schedule 13D speaks as of its date. Capitalized terms used
without definition have the meanings ascribed to them in the Schedule 13D.
I. Item 3 of the Schedule 13D "Source and Amount of Funds or Other
Consideration," is amended and restated as follows:
"The shares of Common Stock reported to be owned by Dickstein & Co.,
Dickstein Focus, Dickstein International and Mark Dickstein were acquired in the
open market. The total cost of the reported shares by Dickstein & Co., Dickstein
Focus, Dickstein International and Mark Dickstein is $6,824,822.60,
$1,179,694.25, $1,191,447.00 and $167,380.00, respectively. Such costs were
funded out of working capital (and in the case of Mark Dickstein, personal
funds), which may, at any given time, include margin loans made by brokerage
firms in the ordinary course of business."
II. Items 5(a) and 5(c) of the Schedule 13D "Interest in Securities of
the Issuer" are amended and restated as follows:
"(a) The Reporting Persons beneficially own an aggregate of 1,125,043
shares of Common Stock, representing approximately 33.1 % of the Common Stock
outstanding. Dickstein & Co. owns 806,368 of such shares, representing
approximately 23.7% of the Common Stock outstanding, Dickstein Focus owns
143,100 of such shares, representing approximately 4.2% of the Common Stock
outstanding, Dickstein International owns 143,696 of such shares, representing
approximately 4.2% of the Common Stock outstanding, and Mark Dickstein owns
31,879 of such shares, representing approximately 1% of the Common Stock
outstanding.2 The Common Stock was issued pursuant to the Issuer's Amended Joint
Plan of Reorganization (the "POR") dated December 5, 1996. The POR was
consummated on June 4, 1997. On May 1, 1997, certain of the Reporting Persons
agreed to purchase, in an open market transaction, on an "if and when issued"
basis, an aggregate of 540,000 shares of Common Stock. 430,368 of the shares of
Common Stock included in this transaction settled on July 23, 1997 after the
consummation of the POR and are included in the percentages stated above. The
balance of the shares (109,632) are scheduled to settle on or about November 3,
1997 for a price of $5.25 per share. 85,269 of these shares will be acquired by
Dickstein & Co., 16,242 of these shares will be acquired by Dickstein
International and 8,121 of these shares will be acquired by Mark Dickstein.
These shares are not included in the percentages stated above.
- -------- 2
Percentages are based upon 3,400,000 shares of Common Stock reported outstanding
as of August 2, 1997 in the Company's Quarterly Report on Form 10-Q for the
quarter ended July 5, 1997.
-8-
<PAGE>
On August 20, 1997, certain of the Reporting Persons agreed to acquire
from a third party ("Seller"), on a so-called "if and when issued" basis, an
aggregate of up to 133,995 shares (the "Subject Shares") of Common Stock at a
price (including commission) of $7.83 per share. The Seller's obligation to sell
the Subject Shares to the Reporting Persons is contingent upon the issuance
pursuant to the POR of such shares to Seller's counter-party upon the resolution
of certain pre-petition claims. 94,995 of these shares will be acquired by
Dickstein & Co., 17,000 of these shares will be acquired by Dickstein
International and 22,000 of these shares will be acquired by Dickstein Focus.
These shares are not included in the percentages stated above.
On September 4, 1997, certain of the Reporting Persons agreed to
acquire from Seller on the same basis described in the preceding paragraph, up
to an additional 30,198 shares (the "Additional Subject Shares") of Common Stock
at a price (including commission) of $11.08 per share. 21,198 of these shares
will be acquired by Dickstein & Co., 3,800 of these shares will be acquired by
Dickstein International and 5,200 of these shares will be acquired by Dickstein
Focus. These shares are not included in the percentages stated above.
Mark Kaufman, a Vice President of Dickstein Inc., owns 1,000 shares of
Common Stock.
(c) Except for the transactions described in Item 5(a) above and the
transactions set forth on Schedule II annexed hereto, Schedule II to the
Schedule 13D, Schedule II to the Amendment No. 1 to the Schedule 13D, Schedule
II to Amendment No. 2 to the Schedule 13D, Schedule II to Amendment No. 3 to the
Schedule 13D and Schedule II to Amendment No. 4 to the Schedule 13D, none of the
persons identified in Item 2 has effected any transactions in the Common Stock
during the past 60 days. All such transactions were effected in the open
market."
- 9 -
<PAGE>
SIGNATURE
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: September 19, 1997
DICKSTEIN & CO., L.P.
By: Alan Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Dickstein
Partners, L.P., the general partner of Dickstein &
Co., L.P.
/s/ Alan Cooper
--------------------
Name: Alan Cooper
DICKSTEIN FOCUS FUND L.P.
By: Alan Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Partners,
L.P., the general partner of Dickstein Focus Fund
L.P.
/s/ Alan Cooper
--------------------
Name: Alan Cooper
DICKSTEIN INTERNATIONAL LIMITED
By: Alan Cooper, as Vice President of Dickstein
Partners Inc., the agent of Dickstein
International Limited
/s/ Alan Cooper
--------------------
Name: Alan Cooper
DICKSTEIN PARTNERS, L.P.
By: Alan Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Dickstein
Partners, L.P.
/s/ Alan Cooper
--------------------
Name: Alan Cooper
- 10 -
<PAGE>
DICKSTEIN PARTNERS INC.
By: Alan Cooper, as Vice President
/s/ Alan Cooper
--------------------
Name: Alan Cooper
Mark Dickstein
/s/ Mark Dickstein
---------------------
Name: Mark Dickstein
- 11 -
<PAGE>
SCHEDULE II
TRANSACTIONS IN COMMON
STOCK OF
THE LESLIE FAY COMPANY, INC.
Shares Purchased by Dickstein & Co., L.P.
Number of
Shares Price per Total
Date Purchased share Commission Cost
- ---- --------- ----- ---------- ----
9/18/97 202,937 12.00 $10,161.85 $2,445,405.85
Shares Purchased by Dickstein International Limited
Number of
Shares Price per Total
Date Purchased share Commission Cost
- ---- --------- ----- ---------- ----
9/18/97 35,000 12.00 $ 1,765.00 $ 421,765.00
- 12 -
