Page 1 of 7 Pages
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
FLEXTRONICS INTERNATIONAL, LTD.
-----------------------------------------------------
(Name of Issuer)
Ordinary Shares
-----------------------------------------------------
(Title of Class of Securities)
Y2573F103
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(CUSIP Number)
Linda S. Martinson, Esq. (212) 759-7700
450 Park Avenue, Suite 2800, New York, NY 10022
-----------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
-----------------------------------------------------
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*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
disclosures provided in a prior cover page.
The information required on 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).
SEC 1746 (12-91) <PAGE>
<PAGE>
Schedule 13D Amendment No. 1(continued)
CUSIP No. Y2573F102 Page 2 of 7 Pages
- - --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ronald Baron
- - --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- - --------------------------------------------------------------------------------
3 SEC USE ONLY
- - --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- - --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS
2(C) OR 2(E) [ ]
- - --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- - --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 195,000
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,276,300
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 195,000
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,276,300
- - --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,471,300
- - --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- - --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.4%
- - --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- - --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
<PAGE>
Page 3 of 7 Pages
Item 1. Security and Issuer
(a) Name of Issuer:
Flextronics International, Ltd.
(b) Address of Issuer's Principal Executive Offices:
514 Chai Chee Lane #04-13
Bedok Industrial Estate
Singapore 469029
(c) Title and Class of Securities:
Ordinary Shares
Item 2. Identity and Background
(a) Name:
Ronald Baron
(b) Business Address:
450 Park Avenue
Suite 2800
New York, NY 10022
(c) Present Principal Employment:
President: Baron Capital Management, Inc., BAMCO, Inc.,
Baron Capital, Inc.
450 Park Avenue
Suite 2800
New York, NY 10022
(d) Record of Convictions:
No material change.
(e) Record of Civil Proceedings:
No material change.
(f) Citizenship:
No material change.
Item 3. Source and Amount of Funds or Other Consideration
Reporting Person owns no shares of the issuer directly. As General
Partner of Baron Capital Partners, L.P. and Baron Investment
Partners, L.P. (the "Partnerships"), investment partnerships, he
directed the purchase of 195,000 shares for the account of the
Partnerships for an aggregate purchase price of $5,610,557.
Those shares were paid for by cash assets in the
Partnership's accounts and by margin borrowings pursuant to
the standard margin agreement of Spear, Leeds & Kellogg. An
additional 1,130,000 shares were purchased for an aggregate purchase
price of $33,316,479 for the accounts of two investment companies
registered under the Investment Company Act of 1940, Baron Asset Fund
and Baron Growth & Income Fund, (the "Baron Funds"), which are
advised by BAMCO, Inc. ("BAMCO"), a registered investment adviser
which is controlled by Ronald Baron. An additional 146,300 shares
were purchased for an aggregate purchase price of $4,198,466 for
the accounts of investment advisory clients of
<PAGE>
<PAGE>
Page 4 of 7 Pages
Baron Capital Management, Inc.("BCM") a registered investment company
controlled by Ronald Baron. All of those shares were paid for by cash
the assets in the accounts of the investment companies and advisory
clients.
Item 4. Purpose of Transaction
No material change.
Item 5. Interest in Securities of the Issuer
(a) Amount and percentage beneficially owned:
Reporting Person: (i) 1,276,300 shares in his capacity as a
controlling person of BAMCO and BCM . Reporting Person disclaims
that he is the beneficial owner of these shares. (ii) 195,000
shares in his capacity as General Partner of the Partnerships.
(iii) no shares personally.
(b) Number of shares as to which such person has:
(i) sole power to vote or direct the vote:
195,000
(ii) shared power to vote or direct the vote:
1,276,300
(iii) sole power to dispose or to direct the disposition:
195,000
(iv) shared power to dispose or direct the disposition:
1,276,300
Reporting Person may be deemed to share power to vote and dispose
of shares referred to herein as a result of his control of the
investment advisers for whose advisory clients he is reporting.
He may be deemed to have sole power to vote and direct the
disposition of the shares referred to above to by reason of
being a general Partnerships.
(c) A schedule of transactions effected in the last sixty days is
attached hereto.
(d) Ownership of More than Five Percent on Behalf of Another Person:
The investment advisory clients have the right to receive the
dividends from, or the proceeds from the sale of the securities
in their respective accounts. To the best of Reporting Person's
knowledge, no person has such interest relating to more than 5%
of the outstanding class of securities, except that Baron Asset
Fund owns 1,005,000 shares (7.8%).
(e) Ownership of Less than Five Percent:
Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
No material change.<PAGE>
<PAGE>
Page 5 of 7 Pages
Item 7. Material to be Filed as Exhibits
Exhibit 99 - 60 days of trading.
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: June 18, 1996
/s/ Ronald Baron
_______________________________________
Ronald Baron
Transaction Schedule
From 04-18-96 To 06-17-96
Exec.
Date Account ID Quantity Price
- - -------- -------- -------- --------
04-18-96 baf 5,000 34.375
04-19-96 baf 10,000 34.25
04-22-96 baf 15,000 33.8378
04-22-96 bcm 1,800 33.8378
04-23-96 baf 5,000 33.75
04-24-96 baf 5,000 34.125
04-25-96 baf 10,000 34.6875
05-08-96 baf 5,000 35.875
05-08-96 bcm 900 35.75
05-10-96 baf 10,000 36.125
05-13-96 baf 10,000 36.5
05-13-96 baf 100 36
05-14-96 baf 10,000 36.625
05-15-96 baf 4,900 36.625
05-16-96 baf 5,000 35.5
05-17-96 baf 20,000 35.6562
05-20-96 baf 5,000 34.5
05-21-96 baf 6,000 34.4167
05-22-96 baf 5,000 33.5
05-22-96 baf 9,300 33.7258
05-23-96 baf 20,700 31.5525
05-23-96 bgi 5,000 31.5525
05-24-96 baf 8,500 30.8
05-24-96 baf 5,000 31.625
05-24-96 bcp 2,000 30.8
05-24-96 bcp 2,000 31.625
05-24-96 bgi 2,000 30.8
05-24-96 bgi 2,000 31.625
05-29-96 baf 5,500 31.3864
05-30-96 baf 5,000 31
05-30-96 bcm 1,500 31
05-30-96 bgi 3,000 31
05-31-96 baf 5,000 31.125
05-31-96 baf 43,000 31.2813
05-31-96 bgi 2,500 31.125
05-31-96 bgi 5,000 31.2813
06-03-96 baf 14,500 30.7383
06-03-96 baf 7,500 31.375
06-03-96 bgi 2,500 30.7383
06-03-96 bip 7,500 30.7383
06-03-96 bip 2,500 31.375
06-04-96 baf 25,000 31.5
06-04-96 bcp 6,000 31.5
06-04-96 bgi 3,000 31.5
06-04-96 bip 15,000 31.5
06-05-96 baf 20,000 31.125
06-05-96 bcm 18,300 31.125
06-05-96 bcp 5,000 31.125
06-05-96 bgi 10,000 31.125
06-06-96 baf 10,000 30.875
06-06-96 bgi 5,000 30.875
06-06-96 bip 5,000 30.875
06-07-96 baf 22,600 29.8508
06-07-96 bgi 10,000 29.8508
06-10-96 baf 11,500 29.3323
06-10-96 baf 16,900 29.2322
06-10-96 bcm 6,000 29.3323
06-10-96 bcm 8,400 29.2322
06-10-96 bgi 3,000 29.3323
06-10-96 bgi 7,000 29.2322
06-11-96 baf 4,000 28.625
06-11-96 baf 10,000 28.1563
06-12-96 baf 15,000 26.625
06-12-96 baf 20,000 26.313
06-12-96 baf 25,000 26.1667
06-12-96 bgi 5,000 26.1667
06-13-96 baf 25,000 26.625
06-13-96 bcm 5,000 26.625
06-13-96 bgi 5,000 26.5
06-14-96 baf 30,000 27.277
06-14-96 bcm 2,000 27.277
06-14-96 bcm 600 27.5
06-14-96 bcp 5,000 27.125
06-14-96 bgi 5,000 27.277
06-14-96 bip 5,000 27.125
06-17-96 baf 15,000 27.125
06-17-96 bcp 5,000 27.125
