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. 2)*
FLEXTRONICS INTERNATIONAL, LTD
-----------------------------------------------------
(Name of Issuer)
ORDINARY SHARES
-----------------------------------------------------
(Title of Class of Securities)
Y2573F102
-----------------------------------------------------
(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. 2(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 1,506,300
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 195,000
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,506,300
- - --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,701,300
- - --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- - --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- - --------------------------------------------------------------------------------
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"),
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
BCP's account and by margin borrowings pursuant to
the standard margin agreement of Spear, Leeds & Kellogg. An
additional 1,360,000 shares were purchased for an aggregate
purchase price of $39,262,915 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 Baron Capital Management, Inc.("BCM") a registered
<PAGE>
<PAGE>
Page 4 of 7 Pages
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) 1,506,300 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:
1,506,300
(iii) sole power to dispose or to direct the disposition:
195,000
(iv) shared power to dispose or direct the disposition:
1,506,300
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 partner of the 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 1,220,000 shares (9.5%).
(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: July 2, 1996
/s/ Ronald Baron
_______________________________________
Ronald Baron
FLEXTRONICS (FLEXF)
Transaction Schedule
From 05-01-96 To 07-01-96
Exec.
Account ID Date Quantity Price
- - ------------ -------- ---------- ---------
baf 05-08-96 5000 35.875
bcm4 05-08-96 900 35.75
baf 05-10-96 10000 36.125
baf 05-13-96 10000 36.5
baf 05-13-96 100 36
baf 05-14-96 10000 36.625
baf 05-15-96 4900 36.625
baf 05-16-96 5000 35.5
baf 05-17-96 20000 35.6562
baf 05-20-96 5000 34.5
baf 05-21-96 6000 34.4167
baf 05-22-96 5000 33.5
baf 05-22-96 9300 33.7258
baf 05-23-96 20700 31.5525
bgi 05-23-96 5000 31.5525
baf 05-24-96 8500 30.8
baf 05-24-96 5000 31.625
bcp 05-24-96 2000 30.8
bcp 05-24-96 2000 31.625
bgi 05-24-96 2000 30.8
bgi 05-24-96 2000 31.625
baf 05-29-96 5500 31.3864
baf 05-30-96 5000 31
bcm4 05-30-96 1500 31
bgi 05-30-96 3000 31
baf 05-31-96 5000 31.125
baf 05-31-96 43000 31.2813
bgi 05-31-96 2500 31.125
bgi 05-31-96 5000 31.2813
baf 06-03-96 14500 30.7383
baf 06-03-96 7500 31.375
bgi 06-03-96 2500 30.7383
bip 06-03-96 7500 30.7383
bip 06-03-96 2500 31.375
baf 06-04-96 25000 31.5
bcp 06-04-96 6000 31.5
bgi 06-04-96 3000 31.5
bip 06-04-96 15000 31.5
baf 06-05-96 20000 31.125
bcm4 06-05-96 300 31.0684
bcm4 06-05-96 2000 31.0684
bcm4 06-05-96 600 31.0684
bcm4 06-05-96 800 31.0684
bcm4 06-05-96 1100 31.0684
bcm4 06-05-96 500 31.0684
bcm4 06-05-96 7900 31.125
bcm4 06-05-96 2100 31.125
bcm4 06-05-96 3000 31.125
bcp 06-05-96 5000 31.125
Exec.
Account ID Date Quantity Price
- - ------------ -------- ---------- ---------
bgi 06-05-96 10000 31.125
baf 06-06-96 10000 30.875
bgi 06-06-96 5000 30.875
bip 06-06-96 5000 30.875
baf 06-07-96 22600 29.8508
bgi 06-07-96 10000 29.8508
baf 06-10-96 11500 29.3323
baf 06-10-96 16900 29.2322
bcm4 06-10-96 6000 29.3323
bcm4 06-10-96 100 29.2322
bcm4 06-10-96 1000 29.2322
bcm4 06-10-96 200 29.2322
bcm4 06-10-96 400 29.2322
bcm4 06-10-96 600 29.2322
bcm4 06-10-96 1300 29.2322
bcm4 06-10-96 400 29.2322
bcm4 06-10-96 300 29.2322
bcm4 06-10-96 400 29.2322
bcm4 06-10-96 1500 29.2322
bcm4 06-10-96 2200 29.2322
bgi 06-10-96 3000 29.3323
bgi 06-10-96 7000 29.2322
baf 06-11-96 4000 28.625
baf 06-11-96 10000 28.1563
baf 06-12-96 15000 26.625
baf 06-12-96 20000 26.313
baf 06-12-96 25000 26.1667
bgi 06-12-96 5000 26.1667
baf 06-13-96 25000 26.625
bcm4 06-13-96 4000 26.625
bcm4 06-13-96 1000 26.625
bgi 06-13-96 5000 26.5
baf 06-14-96 30000 27.277
bcm4 06-14-96 2000 27.277
bcm4 06-14-96 600 27.5
bcp 06-14-96 5000 27.125
bgi 06-14-96 5000 27.277
bip 06-14-96 5000 27.125
baf 06-17-96 15000 27.125
bcp 06-17-96 5000 27.125
baf 06-18-96 27500 27.375
baf 06-18-96 7500 26.375
bgi 06-18-96 2500 27.375
bgi 06-18-96 2500 26.375
baf 06-19-96 45500 25.875
baf 06-19-96 4500 26
baf 06-20-96 15000 25.875
baf 06-21-96 5000 26
baf 06-21-96 12000 25.875
baf 06-21-96 3000 25.875
baf 06-24-96 15000 25.875
baf 06-25-96 20000 25.5
baf 06-26-96 10000 25.125
bgi 06-26-96 4000 25.125
baf 06-27-96 34000 25.125
bgi 06-27-96 6000 25.125
baf 06-28-96 16000 25.375
baf 07-01-96 10000 26.9063
