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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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AMENDMENT NO. 3 TO SCHEDULE 14D-1
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(d)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
CEDAR INCOME FUND, LTD.
(NAME OF SUBJECT COMPANY)
CEDAR BAY COMPANY
(BIDDER)
COMMON STOCK, PAR VALUE $1.00 PER SHARE
(Title of Class of Securities)
15043810
(CUSIP Number of Class of Securities)
Leo S. Ullman
Chief Executive Officer, Cedar Bay Company
c/o SKR Management Corp.
44 South Bayles Avenue
Port Washington, New York 11050
(516) 883-5577
(Name, Address and Telephone Number of Person Authorized
To Receive Notices and Communications on Behalf of Bidder)
Copies to:
Clinton A. Stuntebeck, Esq. Joseph R. Manghisi, Esq.
Schnader Harrison Segal & Lewis LLP Schnader Harrison Segal & Lewis LLP
1600 Market Street 330 Madison Avenue
Philadelphia, Pennsylvania 19103-7286 New York, New York 10017
(215) 751-2034 (212) 973-8038
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CUSIP No. 15043810 14D-1 Page 2 of 7 Pages
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1. NAME OF REPORTING PERSON CEDAR BAY COMPANY
S.S. OR I.R.S. IDENTIFICATION 11-341-2264
NO. OF ABOVE PERSON
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS BK
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(E) AND 2(F) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION New York
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7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,893,038.335 shares of
EACH REPORTING PERSON Common Stock, par value
$1.00 per share
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8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES [ ]
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9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (7) 84%
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10. TYPE OF REPORTING PERSON PN
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This Amendment No. 3 (the "Final Amendment") to Schedule 14D-1 relates to the
termination of the tender offer (the "Offer") commenced on January 12, 1998 by
Cedar Bay Company, a New York general partnership (the "Purchaser"), for all of
the outstanding shares of common stock, par value $1.00 per share (the
"Shares"), of Cedar Income Fund, Ltd., an Iowa business corporation (the
"Company"), pursuant to which the Purchaser purchased, on April 2, 1998,
1,893,038.335 Shares at a price of $7.00 per share, net to the seller in cash in
accordance with the Offer to Purchase. The Purchaser hereby amends its Tender
Offer Statement on Schedule 14D-1, as previously amended (the "Original
Statement"). This Final Amendment is filed in compliance with General
Instruction D to Schedule 14D-1, which requires that a final amendment to the
Original Statement reporting the date of termination of the Offer and the
results of the Offer be filed with the Securities and Exchange Commission.
Capitalized terms used herein not otherwise defined herein shall have the
meanings assigned to them in the Original Statement.
2
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CUSIP No. 15043810 14D-1 Page 3 of 7 Pages
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ITEM 4. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
(a) - (c) Reference is hereby made to the information set forth in Section
7 ("Financing of the Offer") of the Offer to Purchase, which is incorporated
herein by reference. General Electric Capital Corporation ("GECC") participated
in the financing of the Offer. A portion of the amount to be funded by Titan
Management, L.P. was funded by GECC at a lower interest rate and upon terms
believed by the Purchaser to be more advantageous.
ITEM 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
Items 6(a) and 6(b) are hereby amended by adding the following: The
information contained in Exhibit (1) is incorporated herein by reference.
3
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CUSIP No. 15043810 14D-1 Page 4 of 7 Pages
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ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT
NO.
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(1) Press release issued by the Purchaser on April 7, 1998.
4
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CUSIP No. 15043810 14D-1 Page 5 of 7 Pages
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After due inquiry and to the best of my knowledge and belief, I certify
that the information in this statement is true, complete and correct.
CEDAR BAY COMPANY
By: /s/ Leo S. Ullman
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Name: Leo S. Ullman
Title: Chief Executive Officer
Dated: April 8, 1998 TRIANGLE CENTER ASSOCIATES, L.P.
By: Buttzville Corp., its
general partner
By: /s/ Leo S. Ullman
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Name: Leo S. Ullman
Title: President
THE POINT ASSOCIATES, L.P.
By: Selbridge Corp., its
general partner
By: /s/ Leo S. Ullman
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Name: Leo S. Ullman
Title: President
/s/ Leo S. Ullman
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Leo S. Ullman
5
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EXHIBIT INDEX
EXHIBIT
NO. DESCRIPTION
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(1) Press release issued by the Purchaser on April 7, 1998.
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Press Release
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Cedar Bay Company
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Cedar Bay Company has announced that pursuant to its cash tender offer, which
expired on March 27th, Cedar Bay Company has acquired 1,893,038 shares of common
stock of Cedar Income Fund, Ltd., representing approximately 84% of the
outstanding common stock of the Fund. The following persons have been elected
directors of the Cedar Income Fund.
Mr. J.A.M.H. der Kinderen
Mr. Everett B. Miller III
Mr. Leo S. Ullman
