SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
REYNOLDS METALS COMPANY
(Name of Issuer)
7% PRIDES (SM), Convertible Preferred Stock
(Title of Class of Securities)
761763 50 7
(CUSIP Number)
Rochelle Elias
Compliance Director
D. E. Shaw & Co., L.P.
120 West 45th Street
39th Floor
New York, New York 10036
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 13, 1996
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box. [ ]
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the 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 less than five percent 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 and 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).
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
D. E. Shaw & Co., Inc.
13-3839469
___________________________________________________________________
(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 683,500
___________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
___________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
683,500
___________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
683,500
___________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
___________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
6.2%
___________________________________________________________________
(14) TYPE OF REPORTING PERSON **
HC, CO
___________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
D. E. Shaw & Co., L.P.
13-3695715
___________________________________________________________________
(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 539,200
___________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
___________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
539,200
___________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
539,200
___________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
___________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
4.9%
___________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
___________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
D. E. Shaw Investments, L.P.
13-3470777
___________________________________________________________________
(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 539,200
____________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
____________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
539,200
____________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
539,200
____________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
____________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
4.9%
____________________________________________________________________
(14) TYPE OF REPORTING PERSON **
BD, PN
____________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
D. E. Shaw & Co. International, L.L.C.
13-3799946
___________________________________________________________________
(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 144,300
___________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
___________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
144,300
___________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
144,300
___________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
___________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
1.3%
___________________________________________________________________
(14) TYPE OF REPORTING PERSON **
OO
___________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
David E. Shaw
___________________________________________________________________
(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 683,500
___________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
___________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
683,500
___________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
683,500
___________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
___________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
6.2%
___________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
___________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
This Amendment No. 1 to the Schedule 13D, originally filed on August 8, 1996,
relates to the 7% PRIDES (SM), Convertible Preferred Stock ("PRIDES") of
Reynolds Metals Company (the "Company"). Capitalized terms used herein but not
defined herein shall have the meaning ascribed to them in the initial Schedule
13D.
ITEM 1. SECURITY AND ISSUER.
No change.
ITEM 2. IDENTITY AND BACKGROUND.
No change.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The first paragraph of Item 3 is hereby amended and restated as follows:
539,200 of the 683,500 shares of PRIDES were purchased directly by InvLP, and
the remaining 144,300 of the 683,500 shares were purchased directly by IntlLLC.
The amount of funds (excluding commissions and/or fees) used for the purchases
of the shares by InvLP was $26,788,400, and the amount of funds used for the
purchases of the shares by IntlLLC was $6,752,810.
ITEM 4. PURPOSE OF THE TRANSACTION.
No change.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and restated in its entirety as follows:
(a) The percentage of shares of PRIDES reported beneficially owned by each
person herein is based on 11,000,000 shares of PRIDES outstanding as of February
20, 1996, as indicated in the Company's most recent Proxy Statement, dated
February 23,1996.
As of July 29, 1996:
(i) DESCO Inc owns directly no shares of PRIDES. By reason of the provisions of
Rule 13d-3 of the Act, DESCO Inc may be deemed to own beneficially 683,500
shares of PRIDES, comprising the shares owned directly by InvLP and IntlLLC.
DESCO Inc may be deemed to beneficially own approximately 6.2% of the shares
outstanding.
(ii) DESCO LP owns directly no shares of PRIDES. By reason of the provisions of
Rule 13d-3 of the Act, DESCO LP may be deemed to own beneficially 539,200 shares
of PRIDES, comprising the shares owned directly by InvLP. DESCO LP may be deemed
to beneficially own approximately 4.9% of the shares outstanding.
(iii) InvLP owns directly 539,200 shares of PRIDES, constituting approximately
4.9% of the shares outstanding.
(iv) IntlLLC owns directly 144,300 shares of PRIDES, constituting approximately
1.3% of the shares outstanding.
(v) David Shaw owns directly no shares of PRIDES. By reason of the provisions of
Rule 13d-3 of the Act, David Shaw may be deemed to own beneficially 683,500
shares of PRIDES, comprising the shares owned directly by InvLP and IntlLLC.
David Shaw may be deemed to beneficially own approximately 6.2% of the
outstanding shares. David Shaw disclaims beneficial ownership of such 683,500
shares.
(b) With respect to the number of shares beneficially owned by each Reporting
Person, each Reporting Person shares voting and dispositive power with the other
Reporting Persons, except that InvLP and DESCO LP do not share voting or
dispositive power with IntlLLC and vice versa.
(c) Except for the transactions listed in Schedule A, attached hereto, there
have been no transactions with respect to the class of securities reported on by
the persons named in paragraph (a) during the period from July 30, 1996 until
August 13, 1996.
(d) No person other than each respective owner and general partner or member
manager referred to herein is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, the
shares of PRIDES.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
No Change.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
No change.
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in this statement
is true, complete and correct.
August 18, 1996
D. E. SHAW & CO., INC.
By: /s/ David E. Shaw
President
D. E. SHAW & CO., L.P.
By: /s/ David E. Shaw
Managing Director
D. E. SHAW INVESTMENTS, L.P.
By: D. E. SHAW & CO., L.P., as
General Partner
By: /s/ David E. Shaw
Managing Director
D. E. SHAW & CO. INTERNATIONAL, L.L.C.
By: D. E. SHAW & CO., INC., as
member manager
By: /s/ David E. Shaw
President
DAVID E. SHAW
/s/ David E. Shaw
SCHEDULE A
Pursuant to Item 5(c), following are the transactions in the shares of PRIDES
during the period from July 30, 1996 until August 13, 1996. All transactions
were effected on the New York Stock Exchange.
Transaction Date Of Number Of shares Price Per
Effected By Purchase Bought (Sold) Share
- ----------- -------- ------------- -----
InvLP 960730 15000 45.0625
IntlLLC 960801 13700 45.375
InvLP 960802 30000 45.4375
IntlLLC 960813 10000 46.205
InvLP 960813 43000 46.205
