SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. )
Inland Steel Industries, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
457472108
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [x].
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*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
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>
CUSIP No. 457472108 13G Page 2 of 11 Pages
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1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Morgan Stanley Dean Witter & Co.
IRS # 39-314-5972
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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. CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
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NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 1,947,078
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH
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8. SHARED DISPOSITIVE POWER
2,302,578
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,302,578
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.57%
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12. TYPE OF REPORTING PERSON*
IA, CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 457472108 13G Page 3 of 11 Pages
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1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Miller Anderson & Sherrerd, LLP
IRS # 23-1744122
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
- --------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 1,806,900
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 0
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8. SHARED DISPOSITIVE POWER
2,114,500
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,114,500
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.71%
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12. TYPE OF REPORTING PERSON*
IA, CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 457472108 13G Page 4 of 11 Pages
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1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
MAS Funds Value Portfolio
IRS # 23-6781144
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
- --------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 1,155,600
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
1,155,600
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,155,600
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.31%
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12. TYPE OF REPORTING PERSON*
IC, CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 457472108 13G Page 5 of 11 Pages
Item 1. (a) Name of Issuer:
Inland Steel Industries Inc.
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(b) Address of Issuer's Principal Executive Offices:
30 W Monroe Street
Chicago, IL 60603
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Item 2. (a) Name of Person Filing:
(a) Morgan Stanley Dean Witter & Co.
(b) Miller Anderson & Sherrerd, LLP
(c) MAS Funds Value Portfolio
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(b) Address of Principal Business Office, or if None, Residence:
(a) 1585 Broadway
New York, New York 10036
(b) 1 Tower Bridge Suite 1100
West Conshohocken, PA 19428
(c) 1 Tower Bridge Suite 1100
West Conshohocken, PA 19428
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(c) Citizenship:
Incorporated by reference to Item 4 of the
cover page pertaining to each reporting person.
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(d) Title of Class of Securities:
Common Stock
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(e) CUSIP Number:
457472108
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Item 3. (a) Morgan Stanley Dean Witter & Co. is (e) an Investment Adviser
registered under Section 203 of the Investment Advisers Act of
1940.
(b) Miller Anderson & Sherrerd, LLP is (e) an Investment Adviser
registered under Section 203 of the Investment Advisers Act of
1940.
(c) MAS Funds Value Portfolio is (d) an Investment Company
registered under Section 8 of the Investment Company Act of
1940.
<PAGE>
CUSIP No. 457472108 13-G Page 6 of 11 Pages
Item 4. Ownership.
Incorporated by reference to Items (5) - (9) and (11) of the
cover page.
Item 5. Ownership of Five Percent or Less of a Class.
Inapplicable
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Accounts managed on a discretionary basis by Miller Anderson &
Sherrerd, LLP, a wholly owned subsidiary of Morgan Stanley Dean
Witter & Co., are known to have the right to receive or the power
to direct the receipt of dividends from, or the proceeds from,
the sale of such securities. With the exception of the MAS Funds
Value Portfolio as noted herein, no such account holds more than
5 percent of the class.
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
Item 8. Identification and Classification of Members of the Group.
Item 9. Notice of Dissolution of Group.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purpose or effect.
<PAGE>
CUSIP No. 457472108 13-G Page 7 of 11 Pages
Signature.
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.
Date: December 10, 1998
Signature: /s/ Bruce Bromberg
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Name/Title Bruce Bromberg / Vice President Morgan Stanley & Co. Incorporated
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MORGAN STANLEY DEAN WITTER & CO.
Date: December 10, 1998
Signature: /s/ Paul A. Frick
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Name/Title Paul A. Frick / Vice President Miller Anderson & Sherrerd, LLP
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MILLER ANDERSON & SHERRERD, LLP
Date: December 10, 1998
Signature: /s/ Lorraine Truten
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Name/Title Lorraine Truten / Vice President MAS Funds
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MAS FUNDS VALUE PORTFOLIO
INDEX TO EXHIBITS PAGE
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EXHIBIT 1 Agreement to Make a Joint Filing 8
EXHIBIT 2 Secretary's Certificate Authorizing Bruce Bromberg 9
to Sign on behalf of Morgan Stanley Dean Witter & Co.
EXHIBIT 3 Secretary's Certificate Authorizing Paul A. Frick 10
to Sign on behalf of Miller Anderson & Sherrerd, LLP
EXHIBIT 4 Secretary's Certificate Authorizing Lorraine Truten 11
to Sign on behalf of MAS Funds
* Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
(022597DTI)
<PAGE>
CUSIP No. 457472108 13-G Page 8 of 11 Pages
EXHIBIT 1 TO SCHEDULE 13G
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DECEMBER 10, 1998
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MORGAN STANLEY DEAN WITTER & CO., MILLER ANDERSON & SHERRERD,
LLP, and MS FUNDS VALUE PORTFOLIO hereby agree that, unless
differentiated, this Schedule 13G is filed on behalf of each of
the parties.
MORGAN STANLEY DEAN WITTER & CO.
BY: /s/ Bruce Bromberg
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Bruce Bromberg / Vice President Morgan Stanley & Co. Incorporated
MILLER ANDERSON & SHERRERD, LLP
BY: /s/ Paul A. Frick
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Paul A. Frick / Vice President Miller Anderson & Sherrerd, LLP
MAS FUNDS VALUE PORTFOLIO
BY: /s/ Lorraine Truten
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Lorraine Truten / Vice President MAS Funds
* Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
<PAGE>
Page 9 of 11 Pages
EXHIBIT 2 --------------------
MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
SECRETARY'S CERTIFICATE
I, Charlene R. Herzer, a duly elected and acting Assistant Secretary of
Morgan Stanley, Dean Witter, Discover & Co., a corporation organized and
existing under the laws of the State of Delaware (the "Corporation"), certify
that as approved by a Unanimous Consent of Directors in Lieu of a Meeting dated
as of May 31, 1997, the following persons are each authorized to sign reports
to be filed under Sections 13 and 16 of the Securities Exchange Act of 1934 on
behalf of the Corporation, and such authorizations are in full force and
effect as of this date:
Stuart J.M. Breslow
Robert G. Koppenol
Bruce Bromberg
Robin Sherak
IN WITNESS WHEREOF, I have hereunto set my name and affixed the seal of
the Corporation as of the 3rd day of June, 1997.
/s/ Charlene R. Herzer
------------------------
Charlene R. Herzer
Assistant Secretaty
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Page 10 of 11 Pages
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SECRETARY'S CERTIFICATE
I, Charlene R. Herzer, a duly elected and acting Assistant Secretary
of Morgan Stanley Asset Management Holdings Inc., a corporation organized and
existing under the laws of the State of Delaware (the "Corporation"), certify
that the following resolutions were duly and validly adopted by a Consent in
Lieu of a Meeting of the Board of Directors of the Corporation dated as of
August 19, 1997 and that resolutions are in full force and effect on the date
hereof:
RESOLVED, that the resolutions adopted by the Board of Directors of
the Corporation as of June 3, 1996 relating to the authorized signatories
of Miller Anderson & Sherrerd, LLP ("Miller Anderson") are superseded by
the following resolutions; and
RESOLVED FURTHER, that the Corporation, as sole general partner of
Miller Anderson, authorizes the following individuals to enter into and
execute all agreements and other documents on behalf of Miller Anderson:
Arden C. Armstrong
Glenn E. Becker
Thomas L. Bennett
John D. Connolly
Kenneth B. Dunn
Stephen E. Esser
Paul A. Frick
J. David Germany
Robert L. Hagin
Ellen D. Harvey
Nicholas J. Kovich
Steven K. Kreider
Robert Marcin
Mary Ann Milias
Scott F. Richard
James D. Schmid
Gary Schlarbaum
Lorraine Truten
Horacio Valerias
Marna C. Whittington
Richard B. Worley
RESOLVED FURTHER, that any and all actions taken and all agreements
and other documents executed on behalf of Miller Anderson prior to the date
hereof by any of the persons listed about are ratified and approved.
RESOLVED FURTHER, that any and all actions to be taken, caused to be
taken or heretofore taken by any officer of the Corporation in executing
any and all documents, agreements, and instruments and in taking any and
all steps (including the payment of all expenses) deemed by such officer as
necessary or desireable to carry out the intents and purposes of the
foregoing resolutions are authorized, ratified, and confirmed.
IN WITNESS WHEREOF, I have hereunto set my name and affixed the seal
of the Corporation as of the 20th day of August, 1997.
/s/ CHARLENE R. HERZER
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CHARLENE R. HERZER
ASSISTANT SECRETARY
<PAGE>
Page 11 of 11 Pages
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MAS FUNDS
OFFICER'S CERTIFICATE
The undersigned, being duly elected Assistant Secretary of MAS Funds (the
"Fund"), a Pennsylvania business trust established under Pennsylvania law
by a declaration of Trust dated February 15, 1984, as amended and restated
November 18, 1993, does hereby certify that the following is a true and
complete list of MAS Funds officers duly elected by Board of Trustees of
the Fund at meetings duly held and at which a quorum was present and voting
throughout, that such list remains in full force and effect and does not
conflict with the by-laws of the Fund, and that each such officer, in
conformance with the by-laws of the Fund, has authority to sign such
documents on behalf of the Fund as required to carry out the business of
the Fund:
Thomas L. Bennett Chairman of the Board of Trustees
James D. Schmid President
Lorraine Truten Vice President
John H. Grady, Jr. Secretary
Ellen Crane Assistant Treasurer
Michael Leary Assistant Treasurer
Gregory Sackos Assistant Secretary
Christopher F. Brown Assistant Secretary
Marion Mitchell Assistant Secretary
Richard J. Shoch Assistant Secretary
February 3, 1998 /s/ Richard J. Shoch
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Richard J. Shoch
Assistant Secretary
