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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(AMENDMENT NO. 3)
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)
August 13, 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).
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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
10,704,403
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 10,704,403
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,651,000
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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)
14.55%(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
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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 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
2,608,028
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 2,608,028
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,651,000
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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)
14.55%(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
345,801
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 345,801
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,651,000
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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)
14.55%(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 -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 6,867,928
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,651,000
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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)
14.55%(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 -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 1,124,840
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,651,000
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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)
14.55%(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. 3 to Schedule 13D (this "Amendment No. 3") amends
and supplements the Amendment No. 2 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 375,700
Shares was approximately $9,517,281 and was obtained from working capital. The
total amount of funds required by Limited for the purchase of 95,569 Shares was
approximately $2,420,827 and was obtained from working capital. The total
amount of funds required by Institutional for the purchase of 12,331 Shares was
approximately $312,322 and was obtained from working capital. The total amount
of funds required by Acres for the purchase of 181,100 Shares was approximately
$4,533,998 and was obtained from working capital.
Item 4. Purpose of Transaction.
Item 4 is hereby amended in its entirety as follows:
The Filing Persons believe that the recent operating performance of the
Issuer does not properly reflect the strength of its franchise, current
business position, and strong service culture. 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. The Filing Persons have also discussed
with management the importance of the Board of Directors of the Issuer
representing the interests of all shareholders and have indicated their
willingness, if asked, to make representatives of the Filing Persons available
to serve as members of the Board of Directors. 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, including with respect to the
possibility of having or seeking to have representatives of the Filing Persons
serve on the Board of Directors of the Issuer. The Filing Persons may also
communicate with other shareholders with respect to their investment in the
Issuer.
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.
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 21,651,000 Shares (which is approximately 14.55%
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).
(b)
<TABLE>
<CAPTION>
Sole Shared Sole Shared
Voting Voting Dispositive Dispositive
Power Power Power Power
----- ----- ----- -----
<S> <C> <C> <C> <C>
ESL Partners, L.P. 10,704,403 0 10,704,403 0
ESL Limited 2,608,028 0 2,608,028 0
ESL Institutional Partners, L.P. 345,801 0 345,801 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) 59,740 Shares on
July 21, 1999 for a purchase price per share of $25.78, (ii) 175,151 Shares on
July 22, 1999 for a purchase price per share of $25.42, (iii)
<PAGE> 8
135,074 Shares on July 28, 1999 for a purchase price per share of $25.04, and
(iv) 5,735 Shares on July 29, 1999 for a purchase price per share of $24.99.
Since the most recent filing on Schedule 13D, the only transactions in the
Shares by Limited were the purchase of (i) 14,845 Shares on July 21, 1999 for a
purchase price per share of $25.78, (ii) 45,131 Shares on July 22, 1999 for a
purchase price per share of $25.42, (iii) 32,071 Shares on July 28, 1999 for a
purchase price per share of $25.04, and (iv) 3,522 Shares on July 29, 1999 for a
purchase price per share of $24.99. Since the most recent filing on Schedule
13D, the only transactions in the Shares by Institutional were the purchase of
(i) 1,915 Shares on July 21, 1999 for a purchase price per share of $25.78, (ii)
5,718 Shares on July 22, 1999 for a purchase price per share of $25.42, (iii)
4,455 Shares on July 28, 1999 for a purchase price per share of $25.04, and (iv)
243 Shares on July 29, 1999 for a purchase price per share of $24.99. Since the
most recent filing on Schedule 13D, the only transactions in the Shares by Acres
were the purchase of (i) 171,600 Shares on July 28, 1999 for a purchase price
per share of $25.04, and (ii) 9,500 Shares on July 29, 1999 for a purchase price
per share of $24.99. Since the most recent filing on Schedule 13D, there were no
transactions by Marion.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Amendment No. 3 is true,
complete and correct.
Date: August 16, 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
