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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _____)*
THE INTERLAKE CORPORATION
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
458702 10 7
------------------------
(CUSIP Number)
December 31, 1999
-----------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
// Rule 13d-1(b)
// Rule 13d-1(c)
// Rule 13d-1(d)
*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).
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CUSIP NO. 458702 10 7 13G PAGE 2 OF 9 PAGES
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NAME OF REPORTING PERSON
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Chicago Equity Corporation 36-246372
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 Illinois
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SOLE VOTING POWER
5
NUMBER OF 8,606,557 shares
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
-0-
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 8,606,557 shares
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
-0-
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
8,606,557 shares
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11 27.08%--However, the securities held by First Chicago Equity Corporation
are only convertible into Common Stock under certain limited
circumstances.
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TYPE OF REPORTING PERSON*
12 CO
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CUSIP NO. 458702 10 7 13G PAGE 3 OF 9 PAGES
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NAME OF REPORTING PERSON
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BANK ONE CORPORATION
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 Delaware
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SOLE VOTING POWER
5
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
-0-
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
-0-
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 None except indirectly through one or more subsidiaries as reported
herein. See Item 4.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
0%
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TYPE OF REPORTING PERSON*
12
CO HC
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CUSIP NO. 458702 10 7 13G PAGE 4 OF 9 PAGES
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NAME OF REPORTING PERSON
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Chicago Financial Corporation
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 Delaware
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SOLE VOTING POWER
5
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
-0-
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0- shares
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
-0-
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 None except indirectly through one or more subsidiaries as reported
herein. See Item 4.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
0%
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TYPE OF REPORTING PERSON*
12
CO
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Item 1(a). Name of Issuer:
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The Interlake Corporation (the "Company")
Item 1(b). Address of Issuer's Principal Executive Offices:
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550 Warrenville Road
Lisle, Illinois 60532
Item 2(a). Name of Person Filing:
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BANK ONE CORPORATION ("ONE") is filing this statement on behalf of
itself and its wholly-owned subsidiaries, First Chicago Equity
Corporation ("FCEC") and First Chicago Financial Corporation
("FCFC"). FCFC is the direct parent corporation of FCEC. The
agreement of ONE, FCFC and FCEC to file joint disclosure statements
on Schedule 13G is filed as Exhibit A hereto.
Item 2(b). Address of Principal Business Office:
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For ONE, FCFC and FCEC:
One First National Plaza
Chicago, Illinois 60670
Item 2(c). Citizenship:
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FCEC is a corporation organized under the laws of the State of
Illinois. ONE and FCFC are corporations organized under the laws of
the State of Delaware.
Item 2(d). Title of Class of Securities:
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Common Stock (the "Common")
Item 2(e). CUSIP Number
------------
458702 10 7
Item 3. Type of Person Filing:
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Not applicable.
Item 4. Ownership:
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(a)-(b) Pursuant to a Preferred Stock Purchase Agreement, dated as of
March 6, 1992, as amended by Amendment No. 1 to Preferred Stock
Purchase Agreement dated as of June 11, 1992, FCEC initially purchased
31,500 shares of the Company's Series A2 Convertible Exchangeable
Preferred Stock (the "Series A Preferred") from the Company. Subject
to certain conditions and restrictions, the Series A Preferred held by
FCEC, as of December 31, 1997, is convertible into 8,606,557 Shares of
Common. To the extent the Conversion Price (as defined in the
Certificate of Designation for the Series A Preferred) relating to the
Series A Preferred is adjusted pursuant to the terms of such
Certificate of Designation, the number of shares of Common into which
the Series A Preferred may be converted will be increased.
The Series A Preferred is also exchangeable at the option of the
Company (subject to certain restrictions) into exchangeable debentures
of the Company ("Exchangeable Debentures"), and, subject to certain
conditions and restrictions, such Exchangeable Debentures are also
convertible into shares of Common. Upon the satisfaction of
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certain conditions, the Series A Preferred will automatically convert
into the Company's Series B Convertible Preferred Stock (the "Series B
Preferred"). The Series A Preferred, the Series B Preferred and the
Exchangeable Debentures are convertible into non-voting Common Stock
or, subject to certain conditions and restrictions, voting Common.
Pursuant to the terms of the Certificate of Designation, the holders of
Series A Preferred are entitled upon a Change of Control or Fundamental
Change (as defined in the Certificate of Designation), to require the
Company to redeem all or a portion of the Series A Preferred held by
holders.
The applicable Certificate of Designation and Exchange Debentures
restrict the ability of the holders of Series A Preferred, Series B
Preferred and the Exchangeable Debentures to convert such securities
into Common so long as such holders would have a Regulatory Problem (as
defined in the applicable Certificate of Designation and the Exchange
Debentures) in connection with holding Common. To the extent a holder
has a Regulatory Problem, the conversion of such securities by a holder
thereof is only permitted upon the occurrence of one or more of the
following events: (i) a public offering or public sale of Common, (ii)
a disposition of the Company's securities to a person or group of
persons if, after such disposition, such person or group of persons
would not, in the aggregate, own, control or have the right to acquire
more than two percent of the outstanding securities of any class of
voting securities of the Company, (iii) a merger, consolidation or
similar transaction if, after such transaction, a person or group of
persons in the aggregate would own or control securities which possess
in the aggregate the ordinary voting power to elect a majority of the
surviving corporation's directors, (iv) a disposition of the Company's
securities to a person or group of persons if, after such disposition,
such person or group of persons would own or control securities which
possess in the aggregate the ordinary voting power to elect a majority
of the Company's directors, or (v) the liquidation, dissolution or
winding-up of the Company.
Assuming the conversion of the Series A Preferred held by FCEC into
Common, FCEC may be deemed to own 27.08% of the outstanding Common.
However, pursuant to restrictions in the Bank Holding Company Act of
1956, as amended, FCEC is prohibited from owning more than 5 percent of
the voting Common.
ONE may be deemed to own the shares of Common solely through its
ownership of FCFC and FCEC. FCFC may be deemed to own the shares of
Common solely through its ownership of FCEC.
(c) One or more banking and investment management subsidiaries of ONE
may hold shares of Common solely in a fiduciary capacity. ONE, FCFC
and FCEC disclaim any beneficial ownership in such shares. See also
items 5 through 9 and item 11 on pages two through four hereof.
Item 5. Ownership of Five Percent or Less of a Class:
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Not applicable.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person:
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Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported On by the Parent Holding Company:
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Not applicable.
Item 8. Identification and Classification of Member of the Group:
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Not applicable.
Item 9. Notice of Dissolution of Group:
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Not applicable.
Item 10. Certification:
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Not applicable.
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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: February 10, 1999
BANK ONE CORPORATION
By: /s/ M. Eileen Kennedy
____________________________________________
M. Eileen Kennedy
Treasurer
FIRST CHICAGO FINANCIAL CORPORATION
By: /s/ M. Eileen Kennedy
____________________________________________
M. Eileen Kennedy
Assistant Treasurer
FIRST CHICAGO EQUITY CORPORATION
By: /s/ M. Eileen Kennedy
____________________________________________
M. Eileen Kennedy
Treasurer
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<PAGE>
EXHIBIT A
AGREEMENT
The undersigned hereby agree, pursuant to Section 240.13d-1(f)(1), that the
statement on Schedule 13G (including all amendments thereto) to which this
Agreement is attached is to be filed on behalf of each of the undersigned and
that BANK ONE CORPORATION may file a Schedule 13G under the Securities Exchange
Act of 1934, as amended, and all amendments to such Schedule, with respect to
the shares of Common Stock of The Interlake Corporation on behalf of the
undersigned.
Dated: February 10, 1999
BANK ONE CORPORATION
By: /s/ M. Eileen Kennedy
________________________________________
M. Eileen Kennedy
Treasurer
FIRST CHICAGO FINANCIAL CORPORATION
By: /s/ M. Eileen Kennedy
_________________________________________
M. Eileen Kennedy
Assistant Treasurer
FIRST CHICAGO EQUITY CORPORATION
By: /s/ M. Eileen Kennedy
_________________________________________
M. Eileen Kennedy
Treasurer
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