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UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. *)
GREYHOUND LINES
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK
- --------------------------------------------------------------------------------
(Title of Class of Securities)
398048108
-----------------------------
(CUSIP Number)
Douglas L. Hammer, Esq.
Shartsis Friese & Ginsburg
One Maritime Plaza, 18th Floor
San Francisco, CA 94111
(415) 421-6500
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
JUNE 20, 1994
----------------------------
(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 the statement [x]. (A fee
is not required only if the reporting 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.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
* 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).
<PAGE>
SCHEDULE 13D
- ------------------------ -----------------
CUSIP No. 398048108 Page 2 of 9 Pages
- ------------------------ -----------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
SNYDER CAPITAL MANAGEMENT, INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(D) or 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,226,200
EACH --------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH --------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,370,200
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,370,200
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------------ -----------------
CUSIP No. 398048108 Page 3 of 9 Pages
- ------------------------ -----------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
STIRLING PARTNERS, A California Limited Partnership
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(D) or 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 133,900
EACH --------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH --------------------------------------------------
10 SHARED DISPOSITIVE POWER
133,900
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
133,900
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------------ -----------------
CUSIP No. 398048108 Page 4 of 9 Pages
- ------------------------ -----------------
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of Common Stock (the "Stock") of Greyhound
Lines, a Delaware corporation ("GL"). The principal executive office of GL is
located at 15110 N. Dallas Parkway, Suite 600, Dallas, TX 75248.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this statement and the persons enumerated in Instruction C of
Schedule 13D and, where applicable, their respective places of organization,
general partners, directors, executive officers and controlling persons, and the
information regarding them, is as follows:
(a) Snyder Capital Management, Inc., a California corporation ("SCM");
Stirling Partners, a California Limited Partnership ("SP"); Alan B. Snyder
("Snyder"); Steven J. Block ("Block") Walter Niemasik, Jr. ("Niemasik") and
Margot Murtaugh ("Murtaugh").
(b) The business address of SCM, SP, Snyder, Block, Niemasik and Murtaugh
is 350 California Street, Suite 1460, San Francisco, CA 94104.
(c) Snyder is the President and sole shareholder of SCM. Block, Niemasik
and Murtaugh are the Vice Presidents of SCM. SCM is the General Partner of SP,
which is an investment limited partnership.
(d) During the last five years, none of such persons has been convicted in
a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the last five years, none of such persons was a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws.
(f) All such persons are citizens of the United States of America.
<PAGE>
SCHEDULE 13D
- ------------------------ -----------------
CUSIP No. 398048108 Page 5 of 9 Pages
- ------------------------ -----------------
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source and amount of funds used in purchasing the Stock were as follows:
<TABLE>
<CAPTION>
Purchaser Source of Funds Amount
- --------- --------------- ------
<S> <C> <C>
SCM Accounts under Management $11,941,803.98
SP Working Capital $ 1,255,161.90
</TABLE>
ITEM 4. PURPOSE OF TRANSACTION.
The principal purpose of the acquisitions of securities is investment. Except
as described below, the persons named in Item 2 of this statement have no plans
or proposals that relate to or would result in:
(a) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving GL or any of its subsidiaries;
(b) A sale or transfer of a material amount of assets of GL or of any of
its subsidiaries;
(c) Any change in the present board of directors or management of GL,
including any plans or proposals to change the number or term of directors or to
fill any existing vacancies on the board;
(d) Any material change in the present capitalization or dividend policy
of GL;
(e) Any other material change in GL's business or corporate structure;
(f) Changes in GL's charter, bylaws or instruments corresponding thereto
or other actions which may impede the acquisition of control of GL by any
person;
(g) Causing a class of securities of GL to be delisted from a national
securities exchange or to cease to be authorized to be quoted in an inter-dealer
quotation system of a registered national securities association;
(h) A class of equity securities of GL becoming eligible for termination
of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of
1934, as amended; or
(i) Any action similar to any of those enumerated above.
Such persons intend to communicate directly with GL's management regarding its
financial condition, management and business plan,
<PAGE>
SCHEDULE 13D
- ------------------------ -----------------
CUSIP No. 398048108 Page 6 of 9 Pages
- ------------------------ -----------------
with a view to formulating suggestions for improvement. Such persons are also
considering the advisability of discussing these matters with other significant
shareholders and are considering other ways to support and improve GL's business
operations. Such persons may acquire additional shares of Stock at any time or
may dispose of part or all of their Stock at any time. Such persons currently
do not otherwise have any specific plans or proposals regarding these matters.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The beneficial ownership of the Stock of the persons named in Item 2 of this
statement is as follows at the date hereof:
<TABLE>
<CAPTION>
Aggregate
Beneficially Owned Voting Power Dispositive Power
------------------ ------------ -----------------
Name Number Percent Sole Shared Sole Shared
- --- ------ ------- ---- ------ ---- ------
<S> <C> <C> <C> <C> <C> <C>
SCM 1,370,200 9.1% 0 1,226,200 0 1,370,200
SP 133,900 0.9% 0 133,900 0 133,900
</TABLE>
The persons filing this statement effected the following transactions in the
Stock on the dates indicated, and such transactions are the only transactions by
the persons filing this statement in the Stock since April 20, 1994:
<TABLE>
<CAPTION>
Name Purchase Date Number Price Broker
- ---- or Sale ---- of Shares Per Share Used (1)
-------- --------- --------- --------
<S> <C> <C> <C> <C> <C>
SCM P 4/20/94 50,000 10.6850 autra
SCM P 4/21/94 14,300 10.6317 bear
SCM P 4/22/94 20,800 10.5600 dres
SP P 4/29/94 3,800 10.4350 gold
SCM P 5/02/94 22,400 10.6794 dres
SCM P 5/03/94 23,400 10.8079 fahn
SCM P 5/17/94 8,500 10.0600 mcdon
SCM P 5/19/94 25,000 9.9350 mcdon
SCM P 5/23/94 54,500 9.9350 jeff
SCM P 5/24/94 8,200 9.8100 mcdon
SCM P 5/25/94 83,000 9.6690 mcdon
SP P 5/25/94 17,000 9.6690 mcdon
SCM P 5/26/94 76,000 9.3100 legg
SP P 5/26/94 24,000 9.3100 legg
SCM P 6/02/94 50,000 8.1850 bear
SCM P 6/03/94 19,400 8.1850 niko
SCM P 6/06/94 25,000 8.4350 bear
SCM P 6/07/94 20,700 8.4350 bear
SCM P 6/08/94 25,300 8.4923 wmsmit
SCM P 6/09/94 50,000 8.5600 morg
SCM P 6/13/94 9,600 8.5600 chic
SCM P 6/14/94 40,000 8.3100 chic
SCM P 6/15/94 38,400 8.2774 niko
SCM P 6/16/94 2,200 8.1850 niko
</TABLE>
<PAGE>
SCHEDULE 13D
- ------------------------ -----------------
CUSIP No. 398048108 Page 7 of 9 Pages
- ------------------------ -----------------
<TABLE>
<CAPTION>
Name Purchase Date Number Price Broker
- ---- or Sale ---- of Shares Per Share Used (1)
-------- --------- --------- --------
<S> <C> <C> <C> <C> <C>
SCM P 6/17/94 34,800 8.1850 barre
SP P 6/20/94 39,500 8.1850 bear
SCM P 6/20/94 7,500 8.1850 bear
<FN>
- ----------------
(1) Key to brokers used
bear - Bear Stearns & Co. Inc.
dres - Dresdner Securities
autra - Autranet
gold - Goldman Sachs & Co.
jeff - Jefferies & Company, Inc.
fahn - Fahnestock
mcdon - McDonald & Co. Securities, Inc.
legg - Legg Mason
niko - Louis Nicoud
wmsmit - William Smith
morg - Morgan Stanley & Co. Inc.
chic - Chicago Corp.
barre - Barre & Co.
</TABLE>
ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
SCM is the General Partner of SP, pursuant to a limited partnership agreement
providing to SCM the authority, among other things, to invest the funds of SP in
the Stock, to vote and dispose of those securities and to file this statement on
behalf of SP. Pursuant to such limited partnership agreement, the general
partner of SP is entitled to fees based on assets under management. Pursuant to
investment management agreements, SCM is authorized, among other things, to
invest funds of its various investment advisory clients, and to vote and dispose
of those securities. Such investment management agreements may be terminated by
either party on thirty days' notice, and provide for fees payable to SCM based
on assets under management.
<PAGE>
SCHEDULE 13D
- ------------------------ -----------------
CUSIP No. 398048108 Page 8 of 9 Pages
- ------------------------ -----------------
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G.
SIGNATURES
After reasonable inquiry and to the best of my knowledge, I certify that
the information set forth in this statement is true, complete and correct.
DATED: June 22, 1994.
SNYDER CAPITAL MANAGEMENT, INC. STIRLING PARTNERS, a California
Limited Partnership
By Snyder Capital Management,
By /s/ Steven J. Block Inc., General Partner
---------------------------
Steven J. Block,
Vice President By /s/ Steven J. Block
----------------------
Steven J. Block,
Vice President
<PAGE>
SCHEDULE 13D
- ------------------------ -----------------
CUSIP No. 398048108 Page 9 of 9 Pages
- ------------------------ -----------------
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
OF STATEMENT ON SCHEDULE 13D OR 13G
The undersigned agree to file jointly with the Securities and Exchange
Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G
(and any amendments or supplements thereto) required under section 13(d) of the
Securities Exchange Act of 1934, as amended, in connection with purchases by the
undersigned of securities of Greyhound Lines.
DATED: June 22, 1994.
SNYDER CAPITAL MANAGEMENT, INC. STIRLING PARTNERS, a California
Limited Partnership
By Snyder Capital Management,
By /s/ Steven J. Block Inc., General Partner
-------------------
Steven J. Block,
Vice President By /s/ Steven J. Block
--------------------
Steven J. Block,
Vice President
