<PAGE>
----------------------------
OMB APPROVAL
----------------------------
OMB Number: 3235-0145
Expires: Aug. 31, 1999
Estimated average burden
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----------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. _________)1
Automobile Protection Corporation--APCO
(Name of Issuer)
Common Stock, par value $0.001
(Title of Class of Securities)
052905106
(CUSIP Number)
Thomas F. Steyer
Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(415) 421-2132
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 14, 1999
(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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7(b)
for other parties to whom copies are to be sent.
(Continued on following pages)
Page 1 of 47 Pages
Exhibit Index Found on Page 46
- ------------------------
1 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 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>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Partners, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
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
California
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 186,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
186,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
186,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
WC
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 128,700
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
128,700
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
128,700
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners II, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
WC
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 35,800
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
35,800
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
35,800
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners III, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
WC
- ---------======================================================================
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 43,300
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
43,300
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
43,300
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tinicum Partners, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
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
New York
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 7,700
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
7,700
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,700
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital (CP) Investors, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 14,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
14,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Management, L.L.C.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 304,500
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
304,500
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
304,500
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IA, OO
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Partners, L.L.C.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF
- ---------======================================================================
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 415,500
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
415,500
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
415,500
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.5%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
OO
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Enrique H. Boilini
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
Argentina
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David I. Cohen
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
South Africa
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Joseph F. Downes
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Duhamel
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Fleur E. Fairman
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF
- ---------======================================================================
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 415,500
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
415,500
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
415,500
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.5%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 14 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jason M. Fish
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 15 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Andrew B. Fremder
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 16 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard B. Fried
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 17 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Mellin
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 18 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Stephen L. Millham
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 19 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Meridee A. Moore
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 20 of 47 Pages
<PAGE>
13D
===============================
CUSIP No. 052905106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas F. Steyer
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
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
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 720,000
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
720,000
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
720,000
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 21 of 47 Pages
<PAGE>
Item 1. Security and Issuer.
This statement relates to shares of Common Stock, par value $0.001 per
share (the "Shares") of Automobile Protection Corporation--APCO (the "Company").
The Company's principal offices are located at 15 Dunwoody Park Drive, Suite
100, Atlanta, Georgia, 30338.
Item 2. Identity and Background.
(a) This statement is filed by: (i) Farallon Capital Partners, L.P., a
California limited partnership ("FCP"), with respect to the Shares held by it;
(ii) Farallon Capital Institutional Partners, L.P., a California limited
partnership ("FCIP"), with respect to the Shares held by it; (iii) Farallon
Capital Institutional Partners II, L.P., a California limited partnership ("FCIP
II"), with respect to the Shares held by it; (iv) Farallon Capital Institutional
Partners III, L.P., a Delaware limited partnership ("FCIP III"), with respect to
the Shares held by it; (v) Tinicum Partners, L.P., a New York limited
partnership ("Tinicum"), with respect to the Shares held by it; (vi) Farallon
Capital (CP) Investors, L.P., a Cayman Islands limited partnership ("FCCP")
(collectively with FCP, FCIP, FCIP II, FCIP III and Tinicum, the "Partnerships")
with respect to the Shares held by it; (vii) Farallon Capital Management,
L.L.C., a Delaware limited liability company ("FCMLLC"), with respect to the
Shares held by Farallon Capital Offshore Investors, Inc., a British Virgin
Islands corporation ("Offshore"), and certain other accounts managed by FCMLLC
(together with Offshore, the "Managed Accounts"1); (viii) Farallon Partners,
L.L.C., a Delaware limited liability company ("FPLLC"), with respect to the
Shares held by each of the Partnerships; (ix) each of Enrique H. Boilini
("Boilini"), David I. Cohen ("Cohen"), Joseph F. Downes ("Downes"), William F.
Duhamel ("Duhamel"), Jason M. Fish ("Fish"), Andrew B. Fremder ("Fremder"),
Richard B. Fried ("Fried"),
- -------------------------
2 Of the Shares reported by FCMLLC on behalf of the Managed Accounts, 6,200
Shares (equal to approximately 0.1% of the total Shares currently outstanding)
are held by The Absolute Return Fund of The Common Fund, a non-profit
corporation whose principal address is 450 Post Road East, Westport, Connecticut
06881.
Page 22 of 47 Pages
<PAGE>
William F. Mellin ("Mellin"), Stephen L. Millham ("Millham"), Meridee A. Moore
("Moore") and Thomas F. Steyer ("Steyer"), with respect to the Shares held by
each of the Partnerships and the Managed Accounts; and (x) Fleur E. Fairman
("Fairman") with respect to the Shares held by each of the Partnerships (FCP,
FCIP, FCIP II, FCIP III, Tinicum, FCCP, FCMLLC, FPLLC, Boilini, Cohen, Downes,
Duhamel, Fairman, Fish, Fremder, Fried, Mellin, Millham, Moore and Steyer shall
collectively be referred to hereafter as the "Reporting Persons").
The name, address, principal business, citizenship or state of
organization, executive officers, directors and controlling persons of FCMLLC
and FPLLC are set forth on Annex 1 hereto. The Shares reported hereby for the
Partnerships are owned directly by the Partnerships and those reported by FCMLLC
on behalf of the Managed Accounts are owned directly by the Managed Accounts.
FPLLC, as general partner of the Partnerships, may be deemed to be the
beneficial owner of all such Shares owned by the Partnerships. FCMLLC, as
investment adviser to the Managed Accounts, may be deemed to be the beneficial
owner of all such Shares owned by the Managed Accounts. Each of Boilini, Cohen,
Downes, Duhamel, Fish, Fremder, Fried, Mellin, Millham, Moore and Steyer may be
deemed, as a managing member of FPLLC and FCMLLC, to be the beneficial owner of
all such Shares. Fairman, as a managing member of FPLLC, may be deemed to be the
beneficial owner of all such Shares owned by the Partnerships. Each of FCMLLC,
FPLLC, Boilini, Cohen, Downes, Duhamel, Fairman, Fish, Fremder, Fried, Mellin,
Millham, Moore and Steyer hereby disclaims any beneficial ownership of any such
Shares.
(b) The address of the principal business and principal office of (i) the
Partnerships (other than FCCP), FCMLLC and FPLLC is One Maritime Plaza, Suite
1325, San Francisco, California 94111, (ii) Offshore is Craigmuir Chambers, P.O.
Box 71, Road Town, Tortola, British Virgin Islands and (iii) FCCP is c/o W.S.
Walker & Company, P.O. Box 265 GT, Walker House, Grand
Page 23 of 47 Pages
<PAGE>
Cayman, Cayman Islands and c/o FPLLC, One Maritime Plaza, Suite 1325, San
Francisco, California 94111.
(c) The principal business of each of the Partnerships and Offshore is that
of a private investment fund engaging in the purchase and sale of investments
for its own account. The principal business of FPLLC is to act as the general
partner (the "General Partner") of the Partnerships. The principal business of
FCMLLC is that of a registered investment adviser.
(d) None of the Partnerships, FCMLLC, FPLLC, Offshore or any of the persons
listed on Annex 1 hereto has, during the last five years, been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) None of the Partnerships, FCMLLC, FPLLC, Offshore or any of the persons
listed on Annex 1 hereto has, during the last five years, been 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.
Item 3. Source and Amount of Funds and Other Consideration.
The net investment cost (including commissions) is approximately
$2,384,135.60 for the 186,000 Shares held by FCP, approximately $1,649,668.95
for the 128,700 Shares held by FCIP, approximately $458,842.86 for the 35,800
Shares held by FCIP II, approximately $555,014.61 for the 43,300 Shares held by
FCIP III, approximately $98,694.77 for the 7,700 Shares held by Tinicum,
approximately $179,453.22 for the 14,000 Shares held by FCCP and approximately
$3,903,078.43 for the 304,500 Shares held by the Managed Accounts.
The consideration for such acquisitions was obtained as follows: (i) with
respect to FCIP, FCIP II and FCIP III, from working capital; (ii) with respect
to the Managed Accounts, from the working capital of each Managed Account and/or
from borrowings pursuant to margin accounts
Page 24 of 47 Pages
<PAGE>
maintained in the ordinary course of business by some of the Managed Accounts at
Goldman, Sachs & Co.; and (iii) with respect to FCP, Tinicum and FCCP, from
working capital, and/or from borrowings pursuant to margin accounts maintained
in the ordinary course of business by FCP, Tinicum and FCCP at Goldman, Sachs &
Co. FCP, Tinicum, FCCP and some of the Managed Accounts hold certain securities
in their respective margin accounts at Goldman, Sachs & Co., and the accounts
may from time to time have debit balances. It is not possible to determine the
amount of borrowings, if any, used to acquire the Shares.
Item 4. Purpose of the Transaction.
The purpose of the acquisition of the Shares is for investment, and the
acquisitions of the Shares by each of the Partnerships and the Managed Accounts
were made in the ordinary course of business and were not made for the purpose
of acquiring control of the Company.
Although no Reporting Person has any specific plan or proposal to acquire
or dispose of Shares, consistent with its investment purpose, each Reporting
Person at any time and from time to time may acquire additional Shares or
dispose of any or all of its Shares depending upon an ongoing evaluation of the
investment in the Shares, prevailing market conditions, other investment
opportunities, liquidity requirements of the Reporting Person and/or other
investment considerations. No Reporting Person has made a determination
regarding a maximum or minimum number of Shares which it may hold at any point
in time.
Also, consistent with their investment intent, the Reporting Persons may
engage in communications with one or more shareholders of the Company, one or
more officers of the Company, and/or one or more members of the board of
directors of the Company regarding the Company, including but not limited to its
operations.
Except to the extent the foregoing may be deemed a plan or proposal, none
of the Reporting Persons has any plans or proposals which relate to, or could
result in, any of the matters referred to
Page 25 of 47 Pages
<PAGE>
in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of
Schedule 13D. The Reporting Persons may, at any time and from time to time,
review or reconsider their position and/or change their purpose and/or formulate
plans or proposals with respect thereto.
Item 5. Interest in Securities of the Issuer.
A. Farallon Capital Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCP is incorporated herein by
reference. The percentage amount set forth in Row 13 of such
cover page and of each other cover page filed herewith as
well as Footnote Two hereto is calculated based upon the
11,936,716 Shares outstanding as of June 10, 1999 as
reported by the Company in its Schedule 14D-9 filed with the
Securities and Exchange Commission on June 16, 1999.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares in the past
60 days are set forth on Schedule A hereto and are incorporated
herein by reference. All of such transactions were open-market
transactions.
(d) FPLLC as General Partner has the power to direct the affairs of
FCP, including the disposition of the proceeds of the sale of the
Shares. Steyer is the senior managing member of FPLLC, and
Boilini, Cohen, Downes, Duhamel, Fairman, Fish, Fremder, Fried,
Mellin, Millham and Moore are managing members of FPLLC.
(e) Not applicable.
B. Farallon Capital Institutional Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCIP is incorporated herein by
reference.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares in the past
60 days are set forth on Schedule B hereto and are incorporated
herein by reference. All of such transactions were open-market
transactions.
(d) FPLLC as General Partner has the power to direct the affairs of
FCIP, including the disposition of the proceeds of the sale of
the Shares. Steyer is the senior managing member of FPLLC and
Boilini, Cohen, Downes, Duhamel, Fairman, Fish, Fremder, Fried,
Mellin, Millham and Moore are managing members of FPLLC.
Page 26 of 47 Pages
<PAGE>
(e) Not applicable.
C. Farallon Capital Institutional Partners II, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCIP II is incorporated herein by
reference.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares in the past
60 days are set forth on Schedule C hereto and are incorporated
herein by reference. All of such transactions were open-market
transactions.
(d) FPLLC as General Partner has the power to direct the affairs of
FCIP II, including the disposition of the proceeds of the sale of
the Shares. Steyer is the senior managing member of FPLLC and
Boilini, Cohen, Downes, Duhamel, Fairman, Fish, Fremder, Fried,
Mellin, Millham and Moore are managing members of FPLLC.
(e) Not applicable.
D. Farallon Capital Institutional Partners III, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCIP III is incorporated herein by
reference.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares in the past
60 days are set forth on Schedule D hereto and are incorporated
herein by reference. All of such transactions were open-market
transactions.
(d) FPLLC as General Partner has the power to direct the affairs of
FCIP III, including the disposition of the proceeds of the sale
of the Shares. Steyer is the senior managing member of FPLLC and
Boilini, Cohen, Downes, Duhamel, Fairman, Fish, Fremder, Fried,
Mellin, Millham and Moore are managing members of FPLLC.
(e) Not applicable.
E. Tinicum Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Tinicum is incorporated herein by
reference.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares in the past
60 days are set forth on Schedule E hereto and are incorporated
herein by reference. All of such transactions were open-market
transactions.
Page 27 of 47 Pages
<PAGE>
(d) FPLLC as General Partner has the power to direct the affairs of
Tinicum, including the disposition of the proceeds of the sale of
the Shares. Steyer is the senior managing member of FPLLC and
Boilini, Cohen, Downes, Duhamel, Fairman, Fish, Fremder, Fried,
Mellin, Millham and Moore are managing members of FPLLC.
(e) Not applicable.
F. Farallon Capital (CP) Investors, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCCP is incorporated herein by
reference.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares in the past
60 days are set forth on Schedule F hereto and are incorporated
herein by reference. All of such transactions were open-market
transactions.
(d) FPLLC as General Partner has the power to direct the affairs of
FCCP, including the disposition of the proceeds of the sale of
the Shares. Steyer is the senior managing member of FPLLC and
Boilini, Cohen, Downes, Duhamel, Fairman, Fish, Fremder, Fried,
Mellin, Millham and Moore are managing members of FPLLC.
(e) Not applicable.
G. Farallon Capital Management, L.L.C.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for FCMLLC is incorporated herein by
reference.
(c) The trade dates, number of Shares purchased or sold and the price
per Share for all purchases and sales of the Shares by the
Managed Accounts in the past 60 days by the Managed Accounts are
set forth on Schedule G hereto and are incorporated herein by
reference. All of such transactions were open-market
transactions.
(d) FCMLLC, as an investment adviser, has the power to direct the
disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Steyer is the senior managing member of FCMLLC
and Boilini, Cohen, Downes, Duhamel, Fish, Fremder, Fried,
Mellin, Millham and Moore are managing members of FCMLLC.
(e) Not applicable.
H. Farallon Partners, L.L.C.
Page 28 of 47 Pages
<PAGE>
(a), (b) The information set forth in rows 7, 8, 9, 10, 11, and 13 of
the cover page hereto for FPLLC is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. Steyer is the senior managing member of
FPLLC and Boilini, Cohen, Downes, Duhamel, Fairman, Fish,
Fremder, Fried, Mellin, Millham and Moore are managing members of
FPLLC.
(e) Not applicable.
I. Enrique H. Boilini
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Boilini is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. FCMLLC, as an investment adviser, has the
power to direct the disposition of the proceeds of the sale of
the Shares held by the Managed Accounts. Boilini is a managing
member of FCMLLC and FPLLC.
(e) Not applicable.
J. David I. Cohen
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Cohen is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. FCMLLC, as an investment adviser, has the
power to direct the disposition of the proceeds of the sale of
the Shares held by the Managed Accounts. Cohen is a managing
member of FCMLLC and FPLLC.
(e) Not applicable.
K. Joseph F. Downes
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Downes is incorporated herein by
reference.
Page 29 of 47 Pages
<PAGE>
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. FCMLLC, as an investment adviser, has the
power to direct the disposition of the proceeds of the sale of
the Shares held by the Managed Accounts. Downes is a managing
member of FCMLLC and FPLLC.
(e) Not applicable.
L. William F. Duhamel
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Duhamel is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. FCMLLC, as an investment adviser, has the
power to direct the disposition of the proceeds of the sale of
the Shares held by the Managed Accounts. Duhamel is a managing
member of FCMLLC and FPLLC.
(e) Not applicable.
M. Fleur E. Fairman
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Fairman is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. Fairman is a managing member of FPLLC.
(e) Not applicable.
N. Jason M. Fish
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Fish is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares.
Page 30 of 47 Pages
<PAGE>
FCMLLC, as an investment adviser, has the power to direct the
disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Fish is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
O. Andrew B. Fremder
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Fremder is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. FCMLLC, as an investment adviser, has the
power to direct the disposition of the proceeds of the sale of
the Shares held by the Managed Accounts. Fremder is a managing
member of FCMLLC and FPLLC.
(e) Not applicable.
P. Richard B. Fried
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Fried is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. FCMLLC, as an investment adviser, has the
power to direct the disposition of the proceeds of the sale of
the Shares held by the Managed Accounts. Fried is a managing
member of FCMLLC and FPLLC.
(e) Not applicable.
Q. William F. Mellin
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Mellin is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. FCMLLC, as an investment adviser, has the
power to direct the disposition
Page 31 of 47 Pages
<PAGE>
of the proceeds of the sale of the Shares held by the Managed
Accounts. Mellin is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
R. Stephen L. Millham
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Millham is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. FCMLLC, as an investment adviser, has the
power to direct the disposition of the proceeds of the sale of
the Shares held by the Managed Accounts. Millham is a managing
member of FCMLLC and FPLLC.
(e) Not applicable.
S. Meridee A. Moore
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Moore is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. FCMLLC, as an investment adviser, has the
power to direct the disposition of the proceeds of the sale of
the Shares held by the Managed Accounts. Moore is a managing
member of FCMLLC and FPLLC.
(e) Not applicable.
T. Thomas F. Steyer
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of
the cover page hereto for Steyer is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds of
the sale of the Shares. FCMLLC, as an investment adviser, has the
power to direct the disposition of the proceeds of the sale of
the Shares held by the Managed Accounts. Steyer is the senior
managing member of FCMLLC and FPLLC.
Page 32 of 47 Pages
<PAGE>
(e) Not applicable.
The Shares reported hereby for the Partnerships are owned directly by the
Partnerships and those reported by FCMLLC on behalf of the Managed Accounts are
owned directly by the Managed Accounts. FPLLC, as general partner of the
Partnerships, may be deemed to be the beneficial owner of all such Shares owned
by the Partnerships. FCMLLC, as investment adviser to the Managed Accounts, may
be deemed to be the beneficial owner of all such Shares owned by the Managed
Accounts. Each of Boilini, Cohen, Downes, Duhamel, Fish, Fremder, Fried, Mellin,
Millham, Moore and Steyer may be deemed, as a managing member of FPLLC and
FCMLLC, to be the beneficial owner of all such Shares. Fairman, as a managing
member of FPLLC, may be deemed to be the beneficial owner of all such Shares
owned by the Partnerships. Each of FCMLLC, FPLLC, Boilini, Cohen, Downes,
Duhamel, Fairman, Fish, Fremder, Fried, Mellin, Millham, Moore and Steyer hereby
disclaims any beneficial ownership of any such Shares.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
In connection with their analysis of the Company, FCMLLC and FPLLC from
time to time may consult with Gerald Catenacci or the investment management
companies he manages, namely Principled Capital Management, L.L.C., and
Principled Asset Administration, L.L.C. FCMLLC or FPLLC may pay a fee to Mr.
Catenacci or the companies he manages based on, among other factors, the
performance of the investment of the Partnerships and Managed Accounts in the
Shares. Some of the Partnerships hold limited partnership interests in the
ordinary course of business in an investment partnership controlled by Mr.
Catenacci (the "Investment Partnership"), which may from time to time purchase
and sell Shares. The Reporting Persons have no voting or dispositive power with
respect to these Shares. The Reporting Persons have no agreement, commitment or
understanding to engage in any concerted activity regarding the Shares or the
Company with Mr. Catenacci or the Investment Partnership.
Except as described above, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the Reporting Persons
or between such persons and any other person with respect to any securities of
the Company, including but not limited to transfer or voting of any securities
of the Company, finder's fees, joint ventures, loan or option arrangements,
Page 33 of 47 Pages
<PAGE>
puts or calls, guarantees of profits, divisions of profits or loss, or the
giving or withholding of proxies.
Item 7. Materials to be Filed as Exhibits.
There is filed herewith as Exhibit 1 a written agreement relating to the
filing of joint acquisition statements as required by Rule 13d-1(f)(1) under the
Securities Exchange Act of 1934, as amended.
Page 34 of 47 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: June 23, 1999
/s/ Joseph F. Downes
----------------------------------------
FARALLON PARTNERS, L.L.C., on its own behalf and as
General Partner of FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P., FARALLON
CAPITAL INSTITUTIONAL PARTNERS II, L.P., FARALLON
CAPITAL INSTITUTIONAL PARTNERS III, L.P., TINICUM
PARTNERS, L.P., And FARALLON CAPITAL (CP) INVESTORS,
L.P.
By Joseph F. Downes,
Managing Member
/s/ Joseph F. Downes
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Joseph F. Downes,
Managing Member
/s/ Joseph F. Downes
----------------------------------------
Joseph F. Downes, individually and as attorney-in-fact
for each of Enrique H. Boilini, David I. Cohen,
William F. Duhamel, Fleur E. Fairman, Jason M. Fish,
Andrew B. Fremder, Richard B. Fried, William F.
Mellin, Stephen L. Millham, Meridee A. Moore
and Thomas F. Steyer.
The Powers of Attorney, each executed by Boilini, Cohen, Fairman, Fish,
Fremder, Mellin, Millham, Moore and Steyer authorizing Downes to sign and file
this Schedule 13D on each person's behalf, which were filed with Amendment No. 1
to the Schedule 13D filed with the Securities and Exchange Commission on January
20, 1998, by such Reporting Persons with respect to the Units of Spiros
Development Corporation II, Inc., are hereby incorporated by reference. The
Powers of Attorney, each executed by Duhamel and Fried authorizing Downes to
sign and file this Schedule 13D on each person's behalf, which were filed with
Amendment No. 7 to the Schedule 13D filed with the Securities and Exchange
Commission on February 9, 1999 by such Reporting Persons with respect to the
Callable Class A Common Stock of Crescendo Pharmaceuticals Corporation, are
hereby incorporated by reference.
Page 35 of 47 Pages
<PAGE>
ANNEX 1
Set forth below with respect to FCMLLC and FPLLC is the following: (a)
name; (b) address; (c) principal business; (d) state of organization; and (e)
controlling persons. Set forth below with respect to each managing member of
FCMLLC and FPLLC is the following: (a) name; (b) business address; (c) principal
occupation; and (d) citizenship.
1. (a) Farallon Capital Management, L.L.C.
(b) One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Serves as investment adviser to various managed accounts
(d) Delaware limited liability company
(e) Managing Members: Thomas F. Steyer, Senior Managing Member;
Enrique H. Boilini, David I. Cohen, Joseph F. Downes, William F.
Duhamel, Jason M. Fish, Andrew B. Fremder, Richard B. Fried,
William F. Mellin, Stephen L. Millham and Meridee A. Moore,
Managing Members.
2. (a) Farallon Partners, L.L.C.
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Serves as general partner to investment partnerships
(d) Delaware limited liability company
(e) Managing Members: Thomas F. Steyer, Senior Managing Member;
Enrique H. Boilini, David I. Cohen, Joseph F. Downes, William F.
Duhamel, Fleur E. Fairman, Jason M. Fish, Andrew B. Fremder,
Richard B. Fried, William F. Mellin, Stephen L. Millham and
Meridee A. Moore, Managing Members.
3. (a) Enrique H. Boilini
(b) c/o Farallon Capital Management, L.L.C.
75 Holly Hill Lane
Greenwich, Connecticut 06830
(c) Managing Member of Farallon Partners, L.L.C.; Managing Member of
Farallon Capital Management, L.L.C.
(d) Argentinean Citizen
4. (a) David I. Cohen
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing Member of
Farallon Capital Management, L.L.C.
(d) South African Citizen
Page 36 of 47 Pages
<PAGE>
5. (a) Joseph F. Downes
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing Member of
Farallon Capital Management, L.L.C.
(d) United States Citizen
6. (a) William F. Duhamel
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing Member of
Farallon Capital Management, L.L.C.
(d) United States Citizen
7. (a) Fleur E. Fairman
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Managing Member of Farallon Partners, L.L.C.
(d) United States Citizen
8. (a) Jason M. Fish
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing Member of
Farallon Capital Management, L.L.C.
(d) United States Citizen
9. (a) Andrew B. Fremder
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing Member of
Farallon Capital Management, L.L.C.
(d) United States Citizen
10. (a) Richard B. Fried
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing Member of
Farallon Capital Management, L.L.C.
(d) United States Citizen
Page 37 of 47 Pages
<PAGE>
11. (a) William F. Mellin
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing Member of
Farallon Capital Management, L.L.C.
(d) United States Citizen
12. (a) Stephen L. Millham
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing Member of
Farallon Capital Management, L.L.C.
(d) United States Citizen
13. (a) Meridee A. Moore
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing Member of
Farallon Capital Management, L.L.C.
(d) United States Citizen
14. (a) Thomas F. Steyer
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Senior Managing Member of Farallon Partners, L.L.C.; Senior Managing
Member of Farallon Capital Management, L.L.C.
(d) United States Citizen
Page 38 of 47 Pages
<PAGE>
SCHEDULE A
FARALLON CAPITAL PARTNERS, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR SOLD (S) PER SHARE
(including commission)
06/11/99 78,800 (P) $12.83
06/11/99 32,500 (P) $12.81
06/14/99 11,500 (P) $12.81
06/14/99 39,000 (P) $12.81
06/16/99 13,000 (P) $12.81
06/18/99 4,800 (P) $12.81
06/21/99 6,400 (P) $12.81
Page 39 of 47 Pages
<PAGE>
SCHEDULE B
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR SOLD (S) PER SHARE
(including commission)
06/11/99 54,600 (P) $12.83
06/11/99 22,500 (P) $12.81
06/14/99 8,000 (P) $12.81
06/14/99 27,000 (P) $12.81
06/16/99 9,000 (P) $12.81
06/18/99 3,200 (P) $12.81
06/21/99 4,400 (P) $12.81
Page 40 of 47 Pages
<PAGE>
SCHEDULE C
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR SOLD (S) PER SHARE
(including commission)
06/11/99 12,200 (P) $12.83
06/11/99 5,000 (P) $12.81
06/14/99 2,700 (P) $12.81
06/14/99 9,000 (P) $12.81
06/16/99 4,000 (P) $12.81
06/18/99 1,200 (P) $12.81
06/21/99 1,700 (P) $12.81
Page 41 of 47 Pages
<PAGE>
SCHEDULE D
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR SOLD (S) PER SHARE
(including commission)
06/11/99 18,200 (P) $12.83
06/11/99 7,500 (P) $12.81
06/14/99 2,700 (P) $12.81
06/14/99 9,000 (P) $12.81
06/16/99 3,000 (P) $12.81
06/18/99 1,200 (P) $12.81
06/21/99 1,700 (P) $12.81
Page 42 of 47 Pages
<PAGE>
SCHEDULE E
TINICUM PARTNERS, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR SOLD (S) PER SHARE
(including commission)
06/11/99 3,000 (P) $12.83
06/11/99 1,300 (P) $12.81
06/14/99 400 (P) $12.81
06/14/99 1,500 (P) $12.81
06/16/99 500 (P) $12.81
06/18/99 400 (P) $12.81
06/21/99 600 (P) $12.81
Page 43 of 47 Pages
<PAGE>
SCHEDULE F
FARALLON CAPITAL (CP) INVESTORS, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR SOLD (S) PER SHARE
(including commission)
06/11/99 6,100 (P) $12.83
06/11/99 2,500 (P) $12.81
06/14/99 900 (P) $12.81
06/14/99 3,000 (P) $12.81
06/16/99 1,000 (P) $12.81
06/18/99 200 (P) $12.81
06/21/99 300 (P) $12.81
Page 44 of 47 Pages
<PAGE>
SCHEDULE G
FARALLON CAPITAL MANAGEMENT, L.L.C.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR SOLD (S) PER SHARE
(including commission)
06/11/99 115,200 (P) $12.83
06/11/99 47,500 (P) $12.81
06/14/99 15,900 (P) $12.81
06/14/99 54,000 (P) $12.81
06/16/99 17,500 (P) $12.81
06/18/99 7,800 (P) $12.81
06/21/99 10,600 (P) $12.81
06/11/99 3,000 (P) $12.83
06/11/99 1,200 (P) $12.81
06/14/99 400 (P) $12.81
06/14/99 1,500 (P) $12.81
06/21/99 100 (P) $12.81
06/11/99 12,100 (P) $12.83
06/11/99 5,000 (P) $12.81
06/14/99 1,800 (P) $12.81
06/14/99 6,000 (P) $12.81
06/16/99 2,000 (P) $12.81
06/18/99 1,200 (P) $12.81
06/21/99 1,700 (P) $12.81
Page 45 of 47 Pages
<PAGE>
EXHIBIT INDEX
EXHIBIT 1 Joint Acquisition Statement Pursuant to Rule 13D-
(f)(1)
Page 46 of 47 Pages
<PAGE>
EXHIBIT 1
to
SCHEDULE 13D
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D-(f)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13D shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him, her or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the other entities or persons, except to the extent that he, she or
it knows or has reason to believe that such information is inaccurate.
Dated: June 23, 1999
/s/ Joseph F. Downes
----------------------------------------
FARALLON PARTNERS, L.L.C., on its own behalf and as
General Partner of FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P., FARALLON
CAPITAL INSTITUTIONAL PARTNERS II, L.P., FARALLON
CAPITAL INSTITUTIONAL PARTNERS III, L.P., TINICUM
PARTNERS, L.P., And FARALLON CAPITAL (CP) INVESTORS,
L.P.
By Joseph F. Downes,
Managing Member
/s/ Joseph F. Downes
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Joseph F. Downes,
Managing Member
/s/ Joseph F. Downes
----------------------------------------
Joseph F. Downes, individually and as attorney-in-fact
for each of Enrique H. Boilini, David I. Cohen,
William F. Duhamel, Fleur E. Fairman, Jason M. Fish,
Andrew B. Fremder, Richard B. Fried, William F.
Mellin, Stephen L. Millham, Meridee A. Moore and
Thomas F. Steyer.
Page 47 of 47 Pages
