SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
NUEVO ENERGY COMPANY
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of class of securities)
0067050910
(CUSIP number)
Ralph V. Whitworth
Relational Investors, LLC
4330 La Jolla Village Drive, Suite 220
San Diego, California 92122
(619) 597-9400
(Name, address and telephone number of person
authorized
to receive notices and communications)
September 22, 1998
(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-l(b)(3) or (4), check the
following
box [_].
Note: Six copies of this statement, including all exhibits, should
be filed
with the Commission. See Rule 13d-l(a) for other parties to whom
copies are to
be sent.
*The remainder of this cover page shall be filled out for a
reporting person's
initial filing on this form with respect to the subject class of
securities,
and for any subsequent amendment containing information which
would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall
not be
deemed to be "filed" for the purpose of section 18 of the
Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of
the Act but shall be subject to all other provisions of the Act
(however, see
the Notes).
<PAGE>
SCHEDULE 13D
CUSIP No. 0067050910
- ------------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RELATIONAL INVESTORS, LLC
- ------------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- ------------------------------------------------------------------
- ----------
3 SEC USE ONLY
- ------------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS
00
- ------------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- ------------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------
- ----------
7 SOLE VOTING POWER
1,914,300
NUMBER OF --------------------------------------------
- ----------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY --------------------------------------------
- ----------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,914,300
PERSON --------------------------------------------
- ----------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
1,914,300
- ------------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.65%
- ------------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON
OO
- ------------------------------------------------------------------
- ----------
<PAGE>
CUSIP No. 006705910
- ------------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RELATIONAL INVESTORS, L.P.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- ------------------------------------------------------------------
- ----------
3 SEC USE ONLY
- ------------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS
WC
- ------------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- ------------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------
- ----------
7 SOLE VOTING POWER
1,435,970
NUMBER OF --------------------------------------------
- ----------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY --------------------------------------------
- ----------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,435,970
PERSON --------------------------------------------
- ----------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
1,435,970
- ------------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.24%
- ------------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------
- ----------
<PAGE>
CUSIP No. 0067050910
- ------------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RELATIONAL FUND PARTNERS, L.P.
- ------------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- ------------------------------------------------------------------
- ----------
3 SEC USE ONLY
- ------------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS
WC/OO
- ------------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- ------------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------
- ----------
7 SOLE VOTING POWER
147,320
NUMBER OF --------------------------------------------
- ----------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY --------------------------------------------
- ----------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 147,320
PERSON --------------------------------------------
- ----------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
147,320
- ------------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.74%
- ------------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------
- ----------
<PAGE>
CUSIP No. 0067050910
- ------------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RELATIONAL COAST PARTNERS, L.P.
- ------------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- ------------------------------------------------------------------
- ----------
3 SEC USE ONLY
- ------------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS
WC/OO
- ------------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- ------------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------
- ----------
7 SOLE VOTING POWER
63,806
NUMBER OF --------------------------------------------
- ----------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY --------------------------------------------
- ----------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 63,806
PERSON --------------------------------------------
- ----------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
63,806
- ------------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.32%
- ------------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------
- ----------
<PAGE>
CUSIP No. 0067050910
- ------------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RELATIONAL PARTNERS, L.P.
- ------------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- ------------------------------------------------------------------
- ----------
3 SEC USE ONLY
- ------------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS
WC/OO
- ------------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- ------------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------
- ----------
7 SOLE VOTING POWER
228,136
NUMBER OF --------------------------------------------
- ----------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY --------------------------------------------
- ----------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 228,136
PERSON --------------------------------------------
- ----------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
228,136
- ------------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.15%
- ------------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------
- ----------
<PAGE>
CUSIP No. 0067050910
- ------------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RALPH V. WHITWORTH
- ------------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- ------------------------------------------------------------------
- ----------
3 SEC USE ONLY
- ------------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS
NA
- ------------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- ------------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------
- ----------
7 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
- ----------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,914,300
OWNED BY --------------------------------------------
- ----------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
- ----------
WITH 10 SHARED DISPOSITIVE POWER
1,914,300
- ------------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
1,914,300
- ------------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.65%
- ------------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------------
- ----------
<PAGE>
CUSIP No. 0067050910
- ------------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DAVID H. BATCHELDER
- ------------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- ------------------------------------------------------------------
- ----------
3 SEC USE ONLY
- ------------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS
NA
- ------------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- ------------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------
- ----------
7 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
- ----------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,914,300
OWNED BY --------------------------------------------
- ----------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
- ----------
WITH 10 SHARED DISPOSITIVE POWER
1,914,300
- ------------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
1,914,300
- ------------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.65%
- ------------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------------
- ----------
<PAGE>
CUSIP No. 0067050910
- ------------------------------------------------------------------
- ------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JOEL L. REED
- ------------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- ------------------------------------------------------------------
- ----------
3 SEC USE ONLY
- ------------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS
NA
- ------------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) or 2(e)
[ ]
- ------------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------
- ----------
7 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
- ----------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,914,300
OWNED BY --------------------------------------------
- ----------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
- ----------
WITH 10 SHARED DISPOSITIVE POWER
1,914,300
- ------------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
1,914,300
- ------------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.65%
- ------------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------------
- ----------
<PAGE>
This Amendment No. 3 to Schedule 13D (this "Statement")
is being filed by and on behalf of Relational Investors, L.P.
("RILP"), Relational Fund Partners, L.P. ("RFP"), Relational Coast
Partners, L.P. ("RCP"), and Relational Partners, L.P. ("RP").
Each of RILP, RFP, RCP and RP is a Delaware limited partnership.
The principal business of each of RILP, RFP, RCP and RP is
investing in securities.
This Statement is also being filed by and on behalf of
Relational Investors, LLC ("RILLC"), a Delaware limited liability
company. The principal business of RILLC is being the sole
general partner of RILP, RFP, RCP and RP. RILP, RFP, RCP, RP and
an account managed by RILLC are the beneficial owners of the
securities covered by this Statement. Pursuant to the Limited
Partnership Agreement of each of RILP, RFP, RCP and RP, and the
investment management agreement for the account managed by RILLC,
RILLC has sole investment discretion and voting authority with
respect to the securities covered by this Statement.
This Statement is also being filed by and on behalf of
Ralph V. Whitworth, David H. Batchelder and Joel L. Reed. Messrs.
Whitworth, Batchelder and Reed are the Managing Members of RILLC,
in which capacity they share voting control and dispositive power
over the securities covered by this Statement. Messrs.
Whitworth, Batchelder and Reed, therefore, may be deemed to have
shared indirect beneficial ownership of such securities. The
present principal occupation of each of Messrs. Whitworth and
Batchelder is serving as a Managing Member of RILLC. The present
principal occupation of Mr. Reed is serving as President of
Batchelder & Partners, Inc. (Messrs. Whitworth, Batchelder and
Reed, together with RILP, RFP, RCP, RP and RILLC, hereinafter, the
"Reporting Persons").
This Statement hereby amends the Schedule 13D filed on
April 20, 1998, as amended by the Schedule 13D/A filed on May 26,
1998 and Schedule 13D/A filed on July 16, 1998, as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is hereby amended in its entirety by substituting
the
following:
An account managed by RILLC purchased an aggregate of
39,068 Shares
for total consideration (including brokerage commissions) of
$1,619,448.51
derived from capital in the managed account and margin borrowings
from the
client margin account at Donaldson, Lufkin & Jenrette Securities
Corporation
("DLJ").
RILP purchased an aggregate of 1,435,970 Shares for total
Consideration (including brokerage commissions) of $55,322,628.52
derived
from the capital of RILP.
RFP purchased an aggregate of 147,320 Shares for total
consideration
(including brokerage commissions) of $5,929,829.96 derived from
the capital
of RFP and margin borrowings from a margin account at DLJ.
RCP purchased an aggregate of 63,806 Shares for total
consideration
(including brokerage commissions) of $2,613,270.51 derived from
the capital
of RCP and margin borrowings from a margin account at DLJ.
RP purchased an aggregate of 228,136 Shares for total
consideration
(including brokerage commissions) of $9,417,631.33 derived from
the capital
of RP and margin borrowings from a margin account at DLJ.
Interest on the margin debt balance of each of the margin
accounts
described above is charged at the then Federal Funds Rate plus 75
basis
points. DLJ has a lien on the Shares held by the account managed
by RILLC
and those held by each of RFP, RCP and RP to secure the repayment
of the
margin borrowings described above.
ITEM 4. PURPOSE OF THE TRANSACTION.
Item 4 is hereby amended in its entirety by substituting
the
following:
As of the date of this Statement, except as set forth
below, none of
the Reporting Persons has any present plan or intention which
would result
in or relate to any of the actions described in subparagraphs (a)
through (j) of Item 4 of Schedule 13D.
The Reporting Persons acquired the Shares covered by this
Statement because, in their opinion, such Shares are undervalued
by the
market at the present time. One factor that the Reporting Persons
believe
has historically contributed to the Shares' undervaluation is the
Company's
corporate governance structure. In particular, the Reporting
Persons
were concerned about the need for more independent directors on
the
Company's board of directors. Among the steps the Reporting
Persons
considered for positively influencing the Company's corporate
governance
was the nomination of directors to stand for election at the
Company's
1998 Annual Meeting of Stockholders. In December 1997, in
compliance
with the Company's charter and bylaws, the Reporting Persons
notified
the Company of the Reporting Persons' intention to nominate three
directors to the Company's board of directors.
After discussions with the Company's Chairman and Chief
Executive Officer and monitoring the steps the Company had taken
to
add respected independent directors to the Company's board, the
Reporting
Persons determined that it was not appropriate to proceed with
their plan
to nominate directors and by letter notified the Company of that
determination.
The Reporting Persons continue to closely monitor the
Company's performance. The Reporting Persons and their
representatives
and advisers intend to continue from time to time to discuss the
Company
and its business and management with members of the board of
directors
and management of the Company. In addition, the Reporting Persons
and
their representatives and advisers may communicate with other
shareholders, industry participants and other interested parties
concerning the Company. These communications may include
discussions
of the Company's strategic alternatives in light of its continued
underperformance. The Reporting persons may modify their plans in
the
future, and may exercise any and all of their respective rights as
shareholders of the Company in a manner consistent with their
equity
interests.
The Reporting Persons may from time-to-time (i) acquire
additional Shares (subject to availability at prices deemed
favorable)
in the open market, in privately negotiated transactions, or
otherwise,
or (ii) dispose of Shares at prices deemed favorable in the open
market,
in privately negotiated transactions or otherwise.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended in its entirety by substituting
the
following:
(a) As of the date of this Statement, the Reporting
Persons
beneficially owned in the aggregate 1,914,300 Shares constituting
9.65% of
the outstanding Shares (the percentage of Shares owned being based
upon
19,825,878 Shares outstanding at August 11, 1998 as set forth in
the
Company's Form 10-Q for the quarter ended June 30, 1998). The
Reporting
Persons may be deemed to have direct beneficial ownership of
Shares as
follows:
<TABLE>
<CAPTION>
NAME NUMBER OF SHARES PERCENT OF OUTSTANDING
SHARES
- ------ ---------------- ----------------------
- -------
<S> <C> <C>
RILLC 39,068 0.20%
RILP 1,435,970 7.24%
RFP 147,320 0.74%
RCP 63,806 0.32%
RP 228,136 1.15%
</TABLE>
RILLC, in its capacity as an investment management
consultant, may
be deemed to possess direct beneficial ownership of the 39,068
Shares that
are owned by an account which it manages. Additionally, RILLC, as
the sole
general partner of each of RILP, RFP, RCP and RP, may be deemed
indirectly
to own beneficially (as that term is defined in Rule 13d-3 under
the
Securities Exchange Act of 1934) the Shares of which any of RILP,
RFP, RCP
and RP may be deemed to possess direct beneficial ownership. Each
of Messrs.
Whitworth, Batchelder and Reed, as Managing Members of RILLC, may
be deemed
to share beneficial ownership of the Shares which RILLC may
beneficially own.
Each of Messrs. Whitworth, Batchelder and Reed disclaims
beneficial ownership
of such Shares for all other purposes.
To the best of the knowledge of each of the Reporting
Persons, other
than as set forth above, none of the persons named in Item 2 is
the
beneficial owner of any Shares.
(b) RILP has the sole power to vote or direct the vote of
1,435,970
Shares and the sole power to dispose or direct the disposition of
such
Shares.
RFP has the sole power to vote or direct the vote of
147,320 Shares
and the sole power to dispose or direct the disposition of such
Shares.
RCP has the sole power to vote or direct the vote of
63,806 Shares
and the sole power to dispose or direct the disposition of such
Shares.
RP has the sole power to vote or direct the vote of
228,136 Shares
and the sole power to dispose or direct the disposition of such
Shares.
RILLC has the sole power to vote or direct the vote of
39,068
Shares held by an account which it manages, and the sole power to
dispose or
direct the disposition of such Shares. In addition, RILLC, as sole
General
Partner of RILP, RFP, RCP and RP, may be deemed to have the sole
power to
vote or direct the vote of 1,875,232 Shares held by such Reporting
Persons,
and the sole power to dispose or direct the disposition of such
Shares.
Messrs. Batchelder, Whitworth and Reed, as the Managing Members of
RILLC, may
be deemed to share the power to vote or to direct the vote and to
dispose or
to direct the disposition of such Shares.
(c) Information concerning transactions in the Shares by
the
Reporting Persons during the past 60 days is set forth in Exhibit
1 filed
with this Statement.
(d) No other person 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 covered by this Statement, except that dividends
from, and
proceeds from the sale of, the Shares held by the account managed
by RILLC
may be delivered to such account.
(e) Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
The following Exhibit 1 filed herewith is hereby amended
in its
entirety by substituting the following:
1. Information concerning transactions in the
Shares
effected by the Reporting Persons in the
last 60
days.
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of
their
knowledge and belief, the undersigned certify that the information
contained in this Amendment No. 3 to Schedule 13D is true,
complete
and correct.
Dated: September 23, 1998
RELATIONAL INVESTORS, L.P.
RELATIONAL FUND PARTNERS, L.P.
RELATIONAL COAST PARTNERS, L.P.
RELATIONAL PARTNERS, L.P.
By: Relational Investors, LLC
----------------------------------
as general partner to each
By: /s/ Ralph V. Whitworth
------------------------------
Ralph V. Whitworth
Managing Member
RELATIONAL INVESTORS, LLC
By: /s/ Ralph V. Whitworth
----------------------------------
Ralph V. Whitworth
Managing Member
/s/ Ralph V. Whitworth
- --------------------------------------
Ralph V. Whitworth
/s/ David H. Batchelder
- --------------------------------------
David H. Batchelder
/s/ Joel L. Reed
- --------------------------------------
Joel L. Reed
<PAGE>
EXHIBIT INDEX
<TABLE>
<CAPTION>
Page No. Exhibit No. Description
- ------- ----------- -----------
<S> <C> <C>
1. Information concerning transactions in
the Shares
effected by the Reporting Persons in the
last 60
days.
</TABLE>
Exhibit 1
TRANSACTIONS IN SHARES OF THE COMPANY
DURING THE PAST 60 DAYS
The Reporting Persons engaged in the following
transactions in
Shares of the Company during the past 60 days. All transactions
involved
purchases of Shares on the New York Stock Exchange, unless marked
(T)
in the second column to indicate a purchase in the Third Market.
<TABLE>
<CAPTION>
Reporting Person with Direct Denotes Date of Number
of
Beneficial Ownership Third Party Transaction Shares
<S> <C> <C> <C>
Relational Investors, L.P. 7/30/98 7,463
Relational Partners, L.P. 7/30/98 811
Relational Fund Partners, L.P. 7/30/98 362
Relational Coast Partners, L.P. 7/30/98 294
David H. Batchelder Trust 7/30/98 70
Relational Investors, L.P. 7/31/98 25,293
Relational Partners, L.P. 7/31/98 2,748
Relational Fund Partners, L.P. 7/31/98 1,227
Relational Coast Partners, L.P. 7/31/98 996
David H. Batchelder Trust 7/31/98 236
Relational Investors, L.P. 8/3/98 8,293
Relational Partners, L.P. 8/3/98 901
Relational Fund Partners, L.P. 8/3/98 402
Relational Coast Partners, L.P. 8/3/98 327
David H. Batchelder Trust 8/3/98 77
Relational Investors, L.P. 8/4/98 37,317
Relational Partners, L.P. 8/4/98 4,055
Relational Fund Partners, L.P. 8/4/98 1,810
Relational Coast Partners, L.P. 8/4/98 1,469
David H. Batchelder Trust 8/4/98 349
Relational Investors, L.P. 8/5/98 8,293
Relational Partners, L.P. 8/5/98 901
Relational Fund Partners, L.P. 8/5/98 402
Relational Coast Partners, L.P. 8/5/98 327
David H. Batchelder Trust 8/5/98 77
Relational Investors, L.P. 8/6/98 20,733
Relational Partners, L.P. 8/6/98 2,253
Relational Fund Partners, L.P. 8/6/98 1,006
Relational Coast Partners, L.P. 8/6/98 816
David H. Batchelder Trust 8/6/98 193
Relational Investors, L.P. 8/7/98 12,439
Relational Partners, L.P. 8/7/98 1,352
Relational Fund Partners, L.P. 8/7/98 603
Relational Coast Partners, L.P. 8/7/98 490
David H. Batchelder Trust 8/7/98 116
Relational Investors, L.P. 8/10/98 1,659
Relational Partners, L.P. 8/10/98 180
Relational Fund Partners, L.P. 8/10/98 80
Relational Coast Partners, L.P. 8/10/98 65
David H. Batchelder Trust 8/10/98 16
Relational Investors, L.P. 8/12/98 4,146
Relational Partners, L.P. 8/12/98 451
Relational Fund Partners, L.P. 8/12/98 201
Relational Coast Partners, L.P. 8/12/98 163
David H. Batchelder Trust 8/12/98 39
Relational Investors, L.P. 8/13/98 4,146
Relational Partners, L.P. 8/13/98 451
Relational Fund Partners, L.P. 8/13/98 201
Relational Coast Partners, L.P. 8/13/98 163
David H. Batchelder Trust 8/13/98 39
Relational Investors, L.P. 8/17/98 4,146
Relational Partners, L.P. 8/17/98 451
Relational Fund Partners, L.P. 8/17/98 201
Relational Coast Partners, L.P. 8/17/98 163
David H. Batchelder Trust 8/17/98 39
Relational Investors, L.P. 8/26/98 8,293
Relational Partners, L.P. 8/26/98 901
Relational Fund Partners, L.P. 8/26/98 402
Relational Coast Partners, L.P. 8/26/98 327
David H. Batchelder Trust 8/26/98 77
Relational Investors, L.P. 8/27/98 5,805
Relational Partners, L.P. 8/27/98 631
Relational Fund Partners, L.P. 8/27/98 282
Relational Coast Partners, L.P. 8/27/98 229
David H. Batchelder Trust 8/27/98 53
Relational Investors, L.P. 9/22/98 4,146
Relational Partners, L.P. 9/22/98 451
Relational Fund Partners, L.P. 9/22/98 201
Relational Coast Partners, L.P. 9/22/98 163
David H. Batchelder Trust 9/22/98 39
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