UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)
LTV CORPORATION
-------------------------
(Name of Issuer)
Common Stock, $.50 par value
-------------------------
(Title of Class of Securities)
501921100
-------------------------
(CUSIP Number)
October 6, 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 information required in 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).
<PAGE>
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Peter Cundill & Associates (Bermuda) Ltd.
N/A
- --------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) /X/
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
- --------- ----------------------------------------------------------------------
5
SOLE VOTING POWER
NUMBER OF
SHARES 395,000
BENEFICIALLY
OWNED BY
EACH REPORTING
PERSON WITH
--------- ----------------------------------------------
6
SHARED VOTING POWER
4,608,600
--------- ----------------------------------------------
7
SOLE DISPOSITIVE POWER
4,561,600
--------- ----------------------------------------------
8
SHARED DISPOSITIVE POWER
542,000
- ----------- --------------------------------------------------------------------
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,103,600
- ------------ -------------------------------------------------------------------
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES /_/
- ------------ -------------------------------------------------------------------
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.11%
- ------------ -------------------------------------------------------------------
12
TYPE OF REPORTING PERSON
CO, IA (Canadian)
- ------------ -------------------------------------------------------------------
<PAGE>
- --------- ----------------------------------------------------------------------
1
NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Peter Cundill Holdings (Bermuda) Ltd.
N/A
- --------- ----------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) /X/
- --------- ----------------------------------------------------------------------
3
SEC USE ONLY
- --------- ----------------------------------------------------------------------
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
- ----------------------- --------- ----------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH
REPORTING
PERSON
WITH
--------- ----------------------------------------------
6
SHARED VOTING POWER
5,003,600
--------- ----------------------------------------------
7 SOLE DISPOSITIVE POWER
0
--------- ----------------------------------------------
8 SHARED DISPOSITIVE POWER
5,103,600
- ------------ -------------------------------------------------------------------
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,103,600
- ------------ -------------------------------------------------------------------
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES /_/
- ------------ -------------------------------------------------------------------
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.11%
- ------------ -------------------------------------------------------------------
12
TYPE OF REPORTING PERSON
HC
- ------------ -------------------------------------------------------------------
<PAGE>
- --------- ----------------------------------------------------------------------
1
NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
F. Peter Cundill
N/A
- --------- ----------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) /X/
- --------- ----------------------------------------------------------------------
3
SEC USE ONLY
- --------- ----------------------------------------------------------------------
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
- ----------------------- --------- ----------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 100,000
OWNED BY
EACH
REPORTING
PERSON
WITH
--------- ----------------------------------------------
6 SHARED VOTING POWER
5,003,600
--------- ----------------------------------------------
7 SOLE DISPOSITIVE POWER
0
--------- ----------------------------------------------
8 SHARED DISPOSITIVE POWER
5,103,600
- ------------ -------------------------------------------------------------------
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,103,600
- ------------ -------------------------------------------------------------------
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES /_/
- ------------ -------------------------------------------------------------------
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.11%
- ------------ -------------------------------------------------------------------
12
TYPE OF REPORTING PERSON
IN
- ------------ -------------------------------------------------------------------
<PAGE>
Item 1. (a). Name of Issuer: LTV Corporation
(b). Address of Issuer's Principal Executive Offices:
200 Public Square
Cleveland, Ohio 44114-2308
Item 2. (a). Name of Person Filing:
(i) Peter Cundill & Associates (Bermuda) Ltd. ("PCB")
(ii) Peter Cundill Holdings (Bermuda) Ltd. ("Holdings")
(iii) F. Peter Cundill ("Cundill")
(b). Address of Principal Business Office or, if none, Residence:
PCB and Holdings:
15 Alton Hill
Southampton SN01 Bermuda
Cundill:
Grosvenor House, Apt. 104 - Park Lane
London W1A 3AA England
(c). Citizenship or Place of Organization:
PCB and Holdings: Bermuda
Cundill: Canada
(d). Title of Class of Securities: Common Stock, $.50 par value
(e). CUSIP Number: 501921100
<PAGE>
Item 3. If this statement is filed pursuant to sections
240.13d-1(b) or 240.13d-2(b) or (c), check whether the person
filing is a:
(a) [ ] Broker or dealer registered under section 15 of
the Act (15 U.S.C. 78o);
(b) [ ] Bank as defined in section 3(a)(6) of the
Act (15 U.S.C. 78c);
(c) [ ] Insurance company as defined in section
3(a)(19) of the Act (15 U.S.C. 78c.);
(d) [ ] Investment company registered under section 8
of the Investment Company Act of 1940 (15 U.S.C.
80a-8);
(e) [ ] An investment adviser in accordance with
section 240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in
accordance with section 240.13d-1(b)(1)(ii) (F);
(g) [ ] A parent holding company or control person in
accordance with section 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in section
3(b) of the Federal Deposit Insurance
Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the
definition of an investment company under
section 3(c)(14) of the Investment Company Act
of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with section 240.13d-1(b)(1)
(ii)(J).
Item 4. Ownership.
Provide the following information regarding the aggregate number
and percentage of the class of securities of the issuer identified
in Item 1.
(a). Amount beneficially owned:
(i) PCB: 5,103,600
(ii) Holdings: 5,103,600
(iii) Cundill: 5,103,600
<PAGE>
(b). Percent of class:
(i) PCB: 5.11%
(ii) Holdings: 5.11%
(iii) Cundill: 5.11%
(c). Number of shares as to which the person has:
(1) Sole power to vote or to direct the vote:
(i) PCB: 395,000
(ii) Holdings: 0
(iii) Cundill: 100,000
(2) Shared power to vote or to direct the vote:
(i) PCB: 4,608,600
(ii) Holdings: 5,003,600
(iii) Cundill: 5,003,600
(3) Sole power to dispose or to direct the
disposition of :
(i) PCB: 4,561,600
(ii) Holdings: 0
(iii) Cundill: 0
(4) Shared power to dispose or to direct the
disposition of:
(i) PCB: 542,000
(ii) Holdings: 5,103,600
(iii) Cundill: 5,103,600
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:
Not Applicable
<PAGE>
Item 7. Identification and Classification of Subsidiaries 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 I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired and
are held in the ordinary course of business and 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.
In accordance with Rule 13d-4 of the Securities Exchange Act
of 1934, each of the persons filing this statement expressly
disclaim the beneficial ownership of the securities covered by
this statement and the filing of this report shall not be
construed as an admission by such persons that they are the
beneficial owners of such securities.
<PAGE>
SIGNATURES
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.
PETER CUNDILL & ASSOCIATES
(BERMUDA) LTD.
Date: October 15, 1999 By: /s/Patrick W.D. Turley
----------------------
Patrick W.D. Turley
Attorney-in-Fact*
PETER CUNDILL HOLDINGS
(BERMUDA) LTD.
Date: October 15, 1999 By: /s/Patrick W.D. Turley
----------------------
Patrick W.D. Turley
Attorney-in-Fact*
F. PETER CUNDILL
Date: October 15, 1999 By: /s/Patrick W.D. Turley
----------------------
Patrick W.D. Turley
Attorney-in-Fact*
*Pursuant to Power of Attorney on file with the Commission and incorporated
by reference herein.
<PAGE>
EXHIBIT 1
JOINT FILING AGREEMENT AMONG PETER CUNDILL & ASSOCIATES (BERMUDA) LTD., PETER
CUNDILL HOLDINGS (BERMUDA) LTD., AND F. PETER CUNDILL
WHEREAS, in accordance with Rule 13d-1(k) under the Securities and Exchange Act
of 1934 (the "Act"), only one joint statement and any amendments thereto need to
be filed whenever one or more persons are required to file such a statement or
any amendments thereto pursuant to Section 13(d) of the Act with respect to the
same securities, provided that said persons agree in writing that such statement
or amendments thereto is filed on behalf of each of them;
NOW, THEREFORE, the parties hereto agree as follows:
PETER CUNDILL & ASSOCIATES (BERMUDA) LTD., PETER CUNDILL HOLDINGS (BERMUDA)
LTD., AND F. PETER CUNDILL hereby agree, in accordance with Rule 13d-1(k) under
the Act, to file a statement on Schedule 13G relating to their ownership of
Common Stock of the Issuer and do hereby further agree that said statement shall
be filed on behalf of each of them.
PETER CUNDILL & ASSOCIATES
(BERMUDA) LTD.
Date: October 15, 1999 By: /s/Patrick W.D. Turley
----------------------
Patrick W.D. Turley
Attorney-in-Fact*
PETER CUNDILL HOLDINGS
(BERMUDA) LTD.
Date: October 15, 1999 By: /s/Patrick W.D. Turley
----------------------
Patrick W.D. Turley
Attorney-in-Fact*
<PAGE>
F. PETER CUNDILL
Date: October 15, 1999 By: /s/Patrick W.D. Turley
----------------------
Patrick W.D. Turley
Attorney-in-Fact*
*Pursuant to Power of Attorney on file with the Commission and incorporated by
reference herein.
