<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(AMENDMENT NO. 4)
Under the Securities Exchange Act of 1934
AutoZone, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
053332-10-2
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(CUSIP Number)
Janice V. Sharry, Esq.
Haynes and Boone, LLP
901 Main Street, Suite 3100
Dallas, Texas 75202
(214) 651-5562
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
September 17, 1999
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(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 Sections 240.13d-1(e), (f) or (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 Section 240.13d-7(b) 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> 2
SCHEDULE 13D
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CUSIP No. 053332-10-2
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ESL Partners, L.P., a Delaware limited partnership
22-2875193
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
10,775,083
-------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 10,775,083
WITH -------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
21,761,400
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
N/A
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.62%(1)
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14 TYPE OF REPORTING PERSON
PN
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(1) Based on 148,831,823 shares of Common Stock issued and outstanding as of
June 18, 1999, as disclosed in the Issuer's 10-Q filed with the Securities
and Exchange Commission on June 22, 1999.
<PAGE> 3
- --------------------------------------
CUSIP No. 053332-10-2
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ESL Limited, a Bermuda corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
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7 SOLE VOTING POWER
2,645,021
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 2,645,021
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
21,761,400
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)EXCLUDES
CERTAIN SHARES [ ]
N/A
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.62%(1)
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14 TYPE OF REPORTING PERSON
CO
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(1) Based on 148,831,823 shares of Common Stock issued and outstanding as of
June 18, 1999, as disclosed in the Issuer's 10-Q filed with the
Securities and Exchange Commission on June 22, 1999.
<PAGE> 4
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CUSIP No. 053332-10-2
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ESL Institutional Partners, L.P., a Delaware limited partnership
06-1456821
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
348,528
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 348,528
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
21,761,400
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
N/A
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.62%(1)
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14 TYPE OF REPORTING PERSON
PN
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(1) Based on 148,831,823 shares of Common Stock issued and outstanding as of
June 18, 1999, as disclosed in the Issuer's 10-Q filed with the
Securities and Exchange Commission on June 22, 1999.
<PAGE> 5
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CUSIP No. 053332-10-2
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Acres Partners, L.P., a Delaware limited partnership
06-1458694
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
6,867,928
-------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 6,867,928
WITH -------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
21,761,400
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
N/A
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.62%(1)
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14 TYPE OF REPORTING PERSON
PN
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(1) Based on 148,831,823 shares of Common Stock issued and outstanding as of
June 18, 1999, as disclosed in the Issuer's 10-Q filed with the
Securities and Exchange Commission on June 22, 1999.
<PAGE> 6
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CUSIP No. 053332-10-2
- --------------------------------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Marion Partners, L.P., a Delaware limited partnership
06-1527654
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
1,124,840
-------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,124,840
WITH -------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
21,761,400
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
N/A
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.62%(1)
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14 TYPE OF REPORTING PERSON
PN
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(1) Based on 148,831,823 shares of Common Stock issued and outstanding as of
June 18, 1999, as disclosed in the Issuer's 10-Q filed with the
Securities and Exchange Commission on June 22, 1999.
<PAGE> 7
This Amendment No. 4 to Schedule 13D (this "Amendment No. 4") amends and
supplements the Amendment No. 3 to Schedule 13D filed by ESL Partners, L.P.
("ESL"), ESL Limited ("Limited"), ESL Institutional Partners, L.P.
("Institutional"), Acres Partners, L.P. ("Acres"), and Marion Partners, L.P.
("Marion") (collectively, the "Filing Persons") by furnishing the information
set forth below. Unless set forth below, all previous Items are unchanged.
Capitalized terms used herein which are not defined herein have the meanings
given to them in the Schedule 13D previously filed with the Securities and
Exchange Commission.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended in its entirety as follows:
The total amount of funds required by ESL for the purchase of 70,680 Shares
was approximately $1,691,433 and was obtained from working capital. The total
amount of funds required by Limited for the purchase of 36,993 Shares was
approximately $882,683 and was obtained from working capital. The total amount
of funds required by Institutional for the purchase of 2,727 Shares was
approximately $65,209 and was obtained from working capital.
Item 4. Purpose of Transaction.
Item 4 is hereby amended in its entirety as follows:
In August 1999, ESL, Limited, Acres, and Marion (the "Purchasers") notified
the Issuer and federal antitrust authorities that they each had a present good
faith intention to acquire more than 15% of the Shares and might, depending on
market conditions, acquire more of such Shares. These notifications under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "Act"),
designated the 15% acquisition threshold. The federal antitrust authorities
granted early termination of the applicable waiting period under the Act, which
has the effect of permitting each of the Purchasers to acquire up to 24.9% of
the outstanding Shares without further notification under the Act.
The Filing Persons have held discussions from time to time with the
Issuer's management and certain of its directors regarding the Issuer's recent
operating performance and means of enhancing shareholder value over time.
Following such discussions, at a Board of Directors meeting of the Issuer held
on September 17, 1999, the Board of Directors voted to expand the Board from
nine members to ten and nominated Edward S. Lampert for election to the Board of
Directors. Through Mr. Lampert's representation on the Board, the Filing Persons
anticipate that they will continue to have discussions and other communications
with the Issuer's management and members of its Board of Directors in the future
regarding the foregoing and other matters.
Any alternatives that the Filing Persons may pursue will depend upon a
variety of factors, including, without limitation, current and anticipated
future trading prices of the Shares, changes to the composition of the Board of
Directors of the Issuer, the financial condition, results of operations and
prospects of the Issuer and general economic, financial market and industry
conditions. Depending upon the foregoing factors, the Filing Persons may also
acquire additional shares, or sell all or part of their Shares, in open market
or privately negotiated transactions. Any open market or privately negotiated
purchases or sales may be made at any time without prior notice.
<PAGE> 8
Although the foregoing reflects activities presently contemplated by the
Filing Persons with respect to the Issuer, the foregoing is subject to change at
any time, and there can be no assurance that any of the Filing Persons will take
any of the actions set forth above. Except as set forth above, the Filing
Persons have no plans or proposals with respect to any of the matters set forth
in paragraphs (a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended in its entirety as follows:
(a) Pursuant to that certain Joint Filing Agreement, entered into by and
among the Filing Persons, dated as of July 21, 1999 (previously filed as Exhibit
1 to the Amendment No. 2 to Schedule 13D filed by the Filing Persons with the
Securities and Exchange Commission on July 21, 1999, and incorporated herein by
reference), each of ESL, Limited, Institutional, Acres and Marion may be deemed
to beneficially own 21,761,400 Shares (which is approximately 14.62% of the
Shares outstanding as of June 18, 1999, as disclosed in the Issuer's 10-Q filed
with the Securities and Exchange Commission on June 22, 1999).
<TABLE>
<CAPTION>
(b)
Sole Shared Sole Shared
Voting Voting Dispositive Dispositive
Power Power Power Power
---------- -------- ----------- -----------
<S> <C> <C> <C> <C>
ESL Partners, L.P. 10,775,083 0 10,775,083 0
ESL Limited 2,645,021 0 2,645,021 0
ESL Institutional Partners, L.P. 348,528 0 348,528 0
Acres Partners, L.P. 6,867,928 0 6,867,928 0
Marion Partners, L.P. 1,124,840 0 1,124,840 0
</TABLE>
(c) Since the most recent filing on Schedule 13D, the only transactions in
the Shares by ESL were the purchase of (i) 14,924 Shares on August 31, 1999 for
a purchase price per share of $23.78, (ii) 14,016 Shares on September 1, 1999
for a purchase price per share of $23.79, and (iii) 41,740 Shares on September
3, 1999 for a purchase price per share of $24.04. Since the most recent filing
on Schedule 13D, the only transactions in the Shares by Limited were the
purchase of (i) 18,667 Shares on August 31, 1999 for a purchase price per share
of $23.78, (ii) 6,482 Shares on September 1, 1999 for a purchase price per share
of $23.79, and (iii) 11,844 Shares on September 3, 1999 for a purchase price per
share of $24.04. Since the most recent filing on Schedule 13D, the only
transactions in the Shares by Institutional were the purchase of (i) 809 Shares
on August 31, 1999 for a purchase price per share of $23.78, (ii) 502 Shares on
September 1, 1999 for a purchase price per share of $23.79, and (iii) 1,416
Shares on September 3, 1999 for a purchase price per share of $24.04. Since the
most recent filing on Schedule 13D, there were no transactions in the Shares by
Acres or Marion.
<PAGE> 9
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Amendment No. 4 is true, complete
and correct.
Date: September 20, 1999
ESL PARTNERS, L.P.
By: RBS Partners, L.P., its general partner
By: ESL Investments, Inc., its general partner
By: /s/ EDWARD S. LAMPERT
-------------------------------------
Edward S. Lampert
Chief Executive Officer
ESL LIMITED
By: ESL Investment Management, LLC,
its investment manager
By: /s/ EDWARD S. LAMPERT
-------------------------------------
Edward S. Lampert
Managing Member
ESL INSTITUTIONAL PARTNERS, L.P.
By: RBS Investment Management, LLC,
its general partner
By: /s/ EDWARD S. LAMPERT
-------------------------------------
Edward S. Lampert
Managing Member
ACRES PARTNERS, L.P.
By: ESL Investments, Inc., its general partner
By: /s/ EDWARD S. LAMPERT
-------------------------------------
Edward S. Lampert
Chief Executive Officer
MARION PARTNERS, L.P.
By: ESL Investments, Inc., its general partner
By: /s/ EDWARD S. LAMPERT
-------------------------------------
Edward S. Lampert
Chief Executive Officer
