PERRY DRUG STORES INC
SC 14D1/A, 1995-02-06
DRUG STORES AND PROPRIETARY STORES
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                        SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C.  20549 

                              SCHEDULE 14D-1
                              AMENDMENT NO. 4 
                             (FINAL AMENDMENT) 
      to the Tender Offer Statement Pursuant to Section 14(d)(1)of the
                    Securities Exchange Act of 1934

                                 AND

                              SCHEDULE 13D
                             AMENDMENT NO. 3
                UNDER THE SECURITIES EXCHANGE ACT OF 1934

                      PERRY DRUG STORES, INC.
                    (NAME OF SUBJECT COMPANY)

                    LAKE ACQUISITION CORPORATION
                       RITE AID CORPORATION
                          (BIDDERS)

                    COMMON STOCK, $.05 PAR VALUE
                   (TITLE OF CLASS OF SECURITIES)

                          714611 10 0
                (CUSIP NUMBER OF CLASS OF SECURITIES)

                        FRANKLIN C. BROWN, ESQ.
        EXECUTIVE VICE PRESIDENT AND CHIEF LEGAL COUNSEL
                       RITE AID CORPORATION
                        30 HUNTER LANE
                      CAMP HILL, PA  17011
                    TELEPHONE: (717) 761-2633
     (Name, address and telephone number of person authorized to 
      receive notices and communications on behalf of bidders)

                       WITH A COPY TO:

                    NANCY A. LIEBERMAN, ESQ.
             SKADDEN, ARPS, SLATE, MEAGHER & FLOM
                     919 THIRD AVENUE
                   NEW YORK, NY  10022
                     (212) 735-3000
                                                                       

     CUSIP NO.  714611 10 0             14D-1

        1          NAME OF REPORTING PERSON
                   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
                    Lake Acquisition Corporation (IRS
                    Identification Number Applied For)

        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                              (a) ( )
                                                              (b) ( )

        3          SEC USE ONLY

        4          SOURCE OF FUNDS
                            AF

        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
                   REQUIRED PURSUANT TO ITEMS 2(e) OR 2(f).       ( )
                            N/A

        6          CITIZENSHIP OR PLACE OF ORGANIZATION
                            State of Delaware

        7          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
                   REPORTING PERSON
                            11,177,748

        8        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7)
                 EXCLUDES CERTAIN SHARES                          ( )
                             N/A

        9        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
                            92.93%

        10       TYPE OF REPORTING PERSON
                            CO



     CUSIP NO.  714611 10 0             14D-1

        1          NAME OF REPORTING PERSON
                   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
                   Rite Aid Corporation  (23-1614034)

        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                              (a) ( )
                                                              (b) ( )

        3          SEC USE ONLY

        4          SOURCE OF FUNDS
                     WC, 00

        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
                   REQUIRED PURSUANT TO ITEMS 2(e) OR 2(f).       ( )
                            N/A

        6          CITIZENSHIP OR PLACE OF ORGANIZATION
                            State of Delaware

        7          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
                   REPORTING PERSON
                            11,362,748

        8          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7)
                   EXCLUDES CERTAIN SHARES                        ( )
                              N/A

        9          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
                            94.47%

        10         TYPE OF REPORTING PERSON
                            CO


                    Rite Aid Corporation, a Delaware corporation
     ("Parent"), and Lake Acquisition Corporation, a wholly owned
     subsidiary of Parent (the "Purchaser"), hereby amend and 
     supplement (i) their Statement on Schedule 14D-1 ("Schedule 14D-
     1"), filed with the Securities and Exchange Commission (the
     "Commission") on December 29, 1994, as amended, with respect to
     the Purchaser's offer to purchase all outstanding shares of
     common stock, par value $.05 per share (the "Common Stock"), of
     Perry Drug Stores, Inc., a Michigan corporation (the "Company"),
     and the associated Preferred Stock Purchase Rights (the "Rights"
     and, together with the Common Stock, the "Shares") issued
     pursuant to the Rights Agreement, dated as of February 4, 1987,
     as amended, between the Company and State Street Bank & Trust
     Company, as successor Rights Agent (the "Rights Agreement"), at a
     price of $11.00 per Share, net to the seller in cash, without
     interest thereon and (ii) their Statement on Schedule 13D, as
     amended, filed with the Commission on January 3, 1995.  This
     Amendment No. 4 constitutes the Final Amendment to the Schedule
     14D-1.

                    Unless otherwise indicated herein, each
     capitalized term used but not defined herein shall have the
     meaning ascribed to such term in the Schedule 14D-1 or in the
     Offer to Purchase referred to therein.

     ITEM 6.  INTEREST IN SECURITIES OF THE SUBJECT COMPANY.

                    The information set forth in Items 6(a) and (b) of
     the Schedule 14D-1 is hereby amended and supplemented by the
     following information: 

                    On February 6, 1995, the Purchaser completed
     payment for the remaining Shares tendered pursuant to the Offer
     that were subject to guarantees of delivery or receipt of
     additional documentation.  

                    As a consequence of the purchase of Shares
     pursuant to the Offer, Parent and the Purchaser beneficially own
     11,362,748 Shares (including 185,000 Shares owned by Parent prior
     to the Offer), which represents approximately 94.47% of the
     12,027,382 Shares outstanding. 


                                 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:  February 6, 1995

                                     RITE AID CORPORATION

                                     By: /s/ Martin L. Grass           
                                         Name: Martin L. Grass
                                         Title:  President and
                                                  Chief Operating Officer


                                 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:  February 6, 1995

                                     LAKE ACQUISITION CORPORATION

                                     By: /s/ Martin L. Grass           
                                          Name: Martin L. Grass
                                          Title:   Vice President




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