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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)
----------
RYERSON TULL, INC.
(Name of Issuer)
Common Stock, $1.00 par value 78375P 10 7
(Title of class of securities) (CUSIP number)
Gary K. Duberstein, Esq.
Greenway Partners, L.P.
277 Park Avenue, 27th Floor
New York, New York 10172
(212) 350-5100
(Name, address and telephone number of person authorized
to receive notices and communications)
Not Applicable.
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 16 pages)
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NY2:\887819\02\J11N02!.DOC\56392.0003
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 78375P 10 7 13D Page 2 of 16 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENWAY PARTNERS, L.P.
I.R.S. IDENTIFICATION NO. 13-3714238
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: WC, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 10,751
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 10,751
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 10,751
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
Less than
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.1%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------ -------------------------------------------------------------
2
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 78375P 10 7 13D Page 3 of 16 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENTREE PARTNERS, L.P.
I.R.S. IDENTIFICATION NO. 13-3752875
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: WC, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 149,629
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 149,629
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 149,629
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.6%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------ -------------------------------------------------------------
3
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 78375P 10 7 13D Page 4 of 16 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENHOUSE PARTNERS, L.P.
I.R.S. IDENTIFICATION NO. 13-3793447
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: WC, AF, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 10,751
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 10,751
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 10,751
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
Less than
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.1%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------ -------------------------------------------------------------
4
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 78375P 10 7 13D Page 5 of 16 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENHUT, L.L.C.
I.R.S. IDENTIFICATION NO. 13-3793450
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: WC, AF, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 149,629
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 149,629
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 149,629
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.6%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------ -------------------------------------------------------------
5
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 78375P 10 7 13D Page 6 of 16 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENBELT CORP.
I.R.S. IDENTIFICATION NO. 13-3791931
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 1,449,846
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 1,449,846
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 1,449,846
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 5.9%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------ -------------------------------------------------------------
6
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 78375P 10 7 13D Page 7 of 16 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENSEA OFFSHORE, L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: WC, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Cayman Islands
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 300,484
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 300,484
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 300,484
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.2%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------ -------------------------------------------------------------
7
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 78375P 10 7 13D Page 8 of 16 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENHUT OVERSEAS, L.L.C.
I.R.S. IDENTIFICATION NO. 13-3868906
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: WC, AF, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 300,484
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 300,484
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 300,484
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.2%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------ -------------------------------------------------------------
8
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 78375P 10 7 13D Page 9 of 16 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON ALFRED D. KINGSLEY
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: PF, AF, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 210,358
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,910,710
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 210,358
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,910,710
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 2,121,068
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.6%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
------------------ -------------------------------------------------------------
9
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 78375P 10 7 13D Page 10 of 16 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GARY K. DUBERSTEIN
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: PF, AF, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,910,710
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,910,710
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 1,910,710
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 7.7%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
------------------ -------------------------------------------------------------
10
<PAGE>
This Amendment No. 8 ("Amendment No. 8") amends and
supplements the Statement on Schedule 13D (the "Schedule 13D") filed on February
21, 1997, as amended by Amendment No. 1 filed on November 14, 1997, Amendment
No. 2 filed on December 8, 1997, Amendment No. 3 filed on December 24, 1997,
Amendment No. 4 filed on May 20, 1998, Amendment No. 5 filed on August 6, 1998,
Amendment No. 6 filed on August 13, 1998 and Amendment No. 7 filed on September
2, 1998 by and on behalf of Greenway Partners, L.P. ("Greenway"), Greentree
Partners, L.P. ("Greentree"), Greenhouse Partners, L.P. ("Greenhouse"),
Greenhut, L.L.C.("Greenhut"), Greenbelt Corp. ("Greenbelt"), Greensea Offshore,
L.P. ("Greensea"), Greenhut Overseas, L.L.C. ("Greenhut Overseas"), Alfred D.
Kingsley ("Kingsley") and Gary K. Duberstein ("Duberstein"; and together with
the foregoing persons, the "Reporting Persons"). Capitalized terms used herein
and not defined herein have the meanings ascribed thereto in the Schedule 13D.
ITEM 1. SECURITY AND ISSUER
This Schedule 13D relates to the shares of common stock
("Shares") of Ryerson Tull, Inc. (the "Company"). On February 25, 1999, Ryerson
Tull, Inc. ("RT"), a majority owned subsidiary of the Company (which was then
named "Inland Steel Industries, Inc."), merged with and into the Company and the
Company changed its name to Ryerson Tull, Inc." Pursuant to such merger (the
"Merger") each share of RT Class A common stock was converted into 0.61 Share of
the Company. The Reporting Persons owned (i) immediately prior to Merger,
360,100 shares of RT Class A common stock and 1,851,307 Shares, and (ii)
immediately after the Merger, 2,070,968 Shares. The principal executive offices
of the Company are located at 2621 West 15th Place, Chicago, Illinois 60608.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Since the filing of Amendment No. 7, accounts managed by
Greenbelt purchased an aggregate of 504,900 Shares for total consideration
(including brokerage commissions) of $6,326,984 derived from capital in the
accounts that it manages and indebtedness from Bear, Stearns & Co. Inc.
Since the filing of Amendment No. 7, Kingsley purchased an
aggregate of 200,000 Shares for total consideration (including brokerage
commissions) of $1,612,700 derived from personal funds of Mr. Kingsley and
indebtedness to Bear, Stearns & Co. Inc. and Spear, Leeds & Kellogg.
The Reporting Persons acquired 219,661 Shares in connection
with the Merger.
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons believe that, given the present low
market price of the Shares, the Company should take affirmative steps to create
shareholder value. To this end, the Reporting Persons believe that the Board of
11
<PAGE>
Directors of the Company should consider, among other value-enhancing
possibilities, a sale of the Company. The Reporting Persons intend to monitor
developments at the Company and may communicate with the Company, other
shareholder and interested parties concerning the Company.
The Reporting Persons may from time-to-time (i) acquire
additional Shares (subject to availability at prices deemed favorable) in the
open market, in privately negotiated transactions or otherwise, or (ii) dispose
of Shares at prices deemed favorable in the open market, in privately negotiated
transactions or otherwise.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of the date of this Statement, the Reporting Persons
beneficially owned in the aggregate 2,121,068 Shares constituting 8.6% of the
outstanding Shares (the percentage of outstanding Shares owned being based upon
24,772,681 Shares outstanding on November 7, 2000, as set forth in the Company's
Form 10-Q for the fiscal quarter ended September 30, 2000). The Reporting
Persons may be deemed to have direct beneficial ownership of Shares as follows:
Approximate
Number of Percentage of
Name Shares Outstanding Shares
---- ------ ------------------
Greenway 10,751 less than .1%
Greentree 149,629 0.6%
Greenbelt 1,449,846 5.9%
Greensea 300,484 1.2%
Kingsley 210,358 0.8%
Greenhouse, as the general partner of Greenway, may be
deemed to own beneficially (as that term is defined in Rule 13d-3 under the
Securities Exchange Act of 1934) Shares which Greenway may be deemed to possess
direct beneficial ownership. Each of Kingsley and Duberstein, as general
partners of Greenhouse, may be deemed to beneficially own Shares that Greenhouse
may be deemed to beneficially own. Each of Kingsley and Duberstein disclaims
beneficial ownership of such Shares for all other purposes.
Greenhut, as the general partner of Greentree, may be
deemed to own beneficially (as that term is defined in Rule 13d-3 under the
Securities Exchange Act of 1934) Shares which Greentree may be deemed to possess
direct beneficial ownership. Each of Kingsley and Duberstein, as members of
Greenhut, may be deemed to beneficially own Shares that Greenhut may be deemed
to beneficially own. Each of Kingsley and Duberstein disclaims beneficial
ownership of such Shares for all other purposes.
12
<PAGE>
Greenhut Overseas, as the investment general partner of
Greensea, may be deemed to own beneficially (as that term is defined in Rule
13d-3 under the Securities Exchange Act of 1934) Shares that Greensea may be
deemed to possess direct beneficial ownership. Each of Kingsley and Duberstein,
as members of Greenhut Overseas, may be deemed to beneficially own Shares which
Greenhut Overseas may be deemed to beneficially own. Each of Kingsley and
Duberstein disclaims beneficial ownership of such Shares for all other purposes.
Greenbelt has direct beneficial ownership of the Shares in
the accounts that it manages. Each of Kingsley and Duberstein, as executive
officers and directors of Greenbelt, may be deemed to beneficially own Shares
that Greenbelt beneficially owns. Each of Kingsley and Duberstein disclaims
beneficial ownership of such Shares for all other purposes.
(b) Greenway has the sole power to vote or direct the vote
of 10,751 Shares and the sole power to dispose or to direct the disposition of
such Shares. Greenhouse, Kingsley and Duberstein may be deemed to share with
Greenway the power to vote or to direct the vote and to dispose or to direct the
disposition of such Shares.
Greentree has the sole power to vote or direct the vote of
149,629 Shares and the sole power to dispose or direct the disposition of such
Shares. Greenhut, Kingsley and Duberstein may be deemed to share with Greentree
the power to vote or to direct the vote and to dispose or to direct the
disposition of such Shares.
Greensea has the sole power to vote or direct the vote of
300,484 Shares and the sole power to dispose or direct the disposition of such
Shares. Greenhut Overseas, Kingsley and Duberstein may be deemed to share with
Greensea the power to vote or to direct the vote and to dispose or to direct the
disposition of such Shares.
Greenbelt has the sole power to vote or direct the vote of
1,449,846 Shares held in managed accounts and the sole power to dispose or
direct the disposition of all such Shares. Kingsley and Duberstein may be deemed
to share with Greenbelt the power to vote or to direct the vote and to dispose
or to direct the disposition of such Shares.
Kingsley also has the sole power to vote or direct the vote
of 210,358 Shares and the sole power to dispose or direct the disposition of
such Shares.
(c) Information concerning transactions in the Shares by
the Reporting Persons during the past sixty days is set forth in Exhibit 15
attached hereto, which is incorporated herein by reference.
(d) No other person is known to have the right to receive
or the power to direct the receipt of dividends from, or the proceeds from the
sale of, the Shares, except the dividends from, or proceeds from the sale of
Shares in each respective account managed by Greenbelt will be delivered into
each such respective account. No such individual account has an interest in more
than five percent of the class of outstanding Shares.
13
<PAGE>
(e) Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The following Exhibits are filed herewith:
15. Information concerning transactions in the Shares
effected by the Reporting Persons in the last sixty
days.
[The remainder of this page intentionally left blank.]
14
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of their knowledge
and belief, the undersigned certify that the information contained in this
Statement is true, complete and correct.
Dated: January 11, 2001
GREENHOUSE PARTNERS, L.P. GREENWAY PARTNERS, L.P.
By: Greenhouse Partners, L.P., its
general partner
By: /s/ Gary K. Duberstein
------------------------------------
Gary K. Duberstein, general By: /s/ Gary K. Duberstein
partner -------------------------------
Gary K. Duberstein, general
partner
GREENHUT, L.L.C. GREENTREE PARTNERS, L.P.
By: Greenhut, L.L.C., its general
partner
By: /s/ Gary K. Duberstein
------------------------------------
Gary K. Duberstein, member By: /s/ Gary K. Duberstein
-------------------------------
Gary K. Duberstein, member
GREENHUT OVERSEAS, L.L.C. GREENSEA OFFSHORE, L.P.
By: Greenhut Overseas, L.L.C., its
investment general partner
By: /s/ Gary K. Duberstein
------------------------------------
Gary K. Duberstein, member By: /s/ Gary K. Duberstein
-------------------------------
Gary K. Duberstein, member
GREENBELT CORP.
By: /s/ Alfred D. Kingsley
-------------------------------
Alfred D. Kingsley, President
/s/ Alfred D. Kingsley
-------------------------------
ALFRED D. KINGSLEY
/s/ Gary K. Duberstein
-------------------------------
GARY K. DUBERSTEIN
15
<PAGE>
EXHIBIT INDEX
Exhibit No. DESCRIPTION
----------- -----------
15. Information concerning transactions in the Shares effected by
the Reporting Persons in the last sixty days.
16
