AMERICAN PRESIDENT COMPANIES LTD
SC 13E4/A, 1995-09-22
DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT
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<PAGE>
   AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON SEPTEMBER 21, 1995
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                            ------------------------
                                AMENDMENT NO. 1
                               (FINAL AMENDMENT)
                                       TO
                                 SCHEDULE 13E-4

                         ISSUER TENDER OFFER STATEMENT
     (Pursuant to Section 13(e)(1) of the Securities Exchange Act of 1934)
                            ------------------------
                       AMERICAN PRESIDENT COMPANIES, LTD.
                  (Name of Issuer and Person Filing Statement)

                     COMMON STOCK, PAR VALUE $.01 PER SHARE
                         (Title of Class of Securities)

                                  029103 10 8
                     (CUSIP Number of Class of Securities)

                              MARYELLEN B. CATTANI
                           Executive Vice President,
                         General Counsel and Secretary
                       AMERICAN PRESIDENT COMPANIES, LTD.
                                 1111 BROADWAY
                           OAKLAND, CALIFORNIA 94607
                                 (510) 272-8000
                 (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications
                     on Behalf of Person Filing Statement)

                                   COPIES TO:

                                STANTON D. WONG
                           Pillsbury Madison & Sutro
                                 P.O. Box 7880
                        San Francisco, California 94120
                                 (415) 983-1000

                                AUGUST 10, 1995
                      (Date Tender Offer First Published,
                       Sent or Given to Security Holders)

                           CALCULATION OF FILING FEE

<TABLE>
<S>                              <C>
-----------------------------------------------------
-----------------------------------------------------
                                   Amount of Filing
    Transaction Valuation:               Fee:
-----------------------------------------------------
        $120,000,000(*)                $24,000
-----------------------------------------------------
-----------------------------------------------------

<FN>

(*)   Determined pursuant to Rule  0-11(b)(1). Assumes the purchase of 4,000,000
     shares at $30 per share.
</TABLE>

 / /  Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
      and identify the filing with which the offsetting fee was previously paid.
      Identify the previous filing by registration statement number, or the Form
      or Schedule and the date of its filing.

<TABLE>
<S>                      <C>
Amount Previously Paid:  $24,000.
Form or Registration     Schedule 13E-4.
 No.:
Filing Party:            American President Companies, Ltd.
Date Filed:              August 10, 1995.
</TABLE>

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                         This is Page One of ___ Pages
         The Exhibit Index is located on Sequentially Numbered Page ___
<PAGE>
    This  Amendment  No.  1  amends  and  supplements  the  Issuer  Tender Offer
Statement on Schedule 13E-4  dated August 10, 1995  filed by American  President
Companies,  Ltd., a Delaware corporation (the  "Company"), relating to the offer
by the Company  to purchase 4,000,000  outstanding shares of  Common Stock,  par
value  $.01 per share  (the "Shares"), at  prices not greater  than $30 nor less
than $27 per share, net to the seller in cash.

ITEM 1. SECURITY AND ISSUER.

    Item 1 is hereby amended to add the following paragraphs at the end thereof:

    The Offer  expired  at  12:00  midnight, New  York  City  time,  on  Friday,
September  8,  1995. In  accordance with  the  terms of  the Offer,  the Company
determined that  the  Purchase  Price  was  $30  per  Share.  According  to  the
Depositary,  a total of 2,820,499  Shares were validly tendered  at or below the
Purchase Price and not withdrawn on or prior to the Expiration Date. The Company
will purchase all Shares validly tendered at or below the Purchase Price and not
withdrawn on or prior to the Expiration Date.

    The Company expects to begin mailing checks representing the Purchase  Price
of the Shares purchased pursuant to the Offer early in the week of September 18,
1995 and will be returning unpurchased Shares shortly thereafter.

ITEM 9. MATERIAL TO BE FILED AS EXHIBITS.

    Item 9 is hereby amended to add the following Exhibits:

    (a)(11)     Form of Press Release dated September 11, 1995.
    (a)(12)     Form of Press Release dated September 18, 1995.

                                       2
<PAGE>
                                   SIGNATURE

    After due 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.

    Dated: September 21, 1995

                                          AMERICAN PRESIDENT COMPANIES, LTD.

                                          By   /s/  MARYELLEN B. CATTANI
                                          --------------------------------------
                                                   Maryellen B. Cattani
                                                Executive Vice President,
                                              General Counsel and Secretary

                                       3
<PAGE>
                               INDEX TO EXHIBITS

<TABLE>
<CAPTION>
 EXHIBIT                                                                                       SEQUENTIALLY
 NUMBER                                                                                        NUMBERED PAGE
---------                                                                                    -----------------
<S>        <C>                                                                               <C>
(a)(11)    Form of Press Release dated September 11, 1995..................................              5
(a)(12)    Form of Press Release dated September 18, 1995..................................              6
</TABLE>

                                       4
<PAGE>
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[AMERICAN PRESIDENT'S LOGO]
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AMERICAN PRESIDENT COMPANIES, LTD.
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                                                                    NEWS RELEASE

    AMERICAN PRESIDENT COMPANIES, LTD. ANNOUNCES COMPLETION OF TENDER OFFER
                     AND AN OPEN MARKET REPURCHASE PROGRAM

    OAKLAND, Calif., Sept. 11 /PRNewswire/ -- American President Companies, Ltd.
(APC)  (NYSE: APS) announced today that its  "Dutch Auction" tender offer for up
to 4  million shares  of its  common stock  expired at  12:00 midnight,  Eastern
Daylight Time, on Friday, September 8, 1995. Based on a preliminary count at the
time  of expiration, approximately 2,800,000 shares, including shares subject to
guarantees  of   delivery  and   shares  subject   to  receipt   of   additional
documentation, had been tendered pursuant to the offer.

    The  company intends to  purchase at $30  per share all  the shares tendered
pursuant to the  terms of the  tender offer. The  final number of  shares to  be
purchased  will be  announced as  soon as  the results  of the  tender offer are
verified. Payment  for shares  validly  tendered will  be  made as  promptly  as
practicable.

    Following  the mandatory waiting period of 10 business days after expiration
of the tender  offer, the company  plans to initiate  an open market  repurchase
program  for up to 1,200,000 shares. The company plans to repurchase shares from
time-to-time through open market and privately negotiated transactions at prices
deemed appropriate by management.  To complete the  open market repurchase,  the
company plans to use available cash reserves.

    American  President Companies,  Ltd. and its  subsidiaries provide container
transportation and related services in Asia, the Americas, Europe and the Middle
East  through   an   intermodal  system   combining   ocean,  rail   and   truck
transportation.

    -0-                        9/11/95

    /CONTACT: Thomas R. Meier of American President Companies, 510-272-8284/

    (APS)

1111 BROADWAY
OAKLAND, CALIFORNIA 94607
U.S.A.
<PAGE>
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[AMERICAN PRESIDENT'S LOGO]
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AMERICAN PRESIDENT COMPANIES, LTD.
--------------------------------------------------------------------------------

                                                                    NEWS RELEASE

           AMERICAN PRESIDENT COMPANIES, LTD. ANNOUNCES FINAL RESULTS
                              OF ITS TENDER OFFER

    OAKLAND, Calif., Sept. 18 /PRNewswire/ -- American President Companies, Ltd.
(NYSE:  APS) announced  today that  based on  a final  count by  the depository,
2,820,499 shares had been tendered pursuant to its "Dutch Auction" tender  offer
for  up to 4  million shares of  its common stock.  As previously announced, APC
will purchase all shares validly tendered at a price of $30 per share.

    The company expects to begin mailing checks representing the purchase  price
of the shares purchased pursuant to the offer early in the week of September 18,
1995.

    American  President  Companies, Ltd.  provides container  transportation and
related services in Asia,  the Americas, Europe and  the Middle East through  an
intermodal system combining ocean, rail and truck transportation.

    -0-                        9/18/95

    /CONTACT: Thomas R. Meier of American President Companies, 510-272-8284/

    (APS)

1111 BROADWAY
OAKLAND, CALIFORNIA 94607
U.S.A.


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