Page 1
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
Savannah Foods & Industries, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
804795102
(CUSIP Number)
Charles A. Nalbone, Bear, Stearns & Co. Inc.
115 South Jefferson Road, Whippany, NJ 07981
(201) 739-2202
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 13, 1997
(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 five
percent or less of such class. (See Rule 13d-7)
Note: When filing this statement, in paper format, six copies of
this statement, including exhibits, should be filed with the Commission.
See Rule 13d-1(a) for other parties to whom copies are to be sent.
Page 2
CUSIP NO. 804795102
13D
NAME OF REPORTING PERSON
S.S. OR I.R.S. NOTIFICATION NO. OF ABOVE PERSON:
1 BEAR, STEARNS & CO. INC.
IRS #13-3299429
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*:
(a) [ ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*:
WC, PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d)(e):
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
7 SOLE VOTING POWER:
1,651,080
8 SHARED VOTING POWER:
56,020
9 SOLE DISPOSITIVE POWER:
1,651,080
10 SHARED DISPOSITIVE POWER:
56,020
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
1,707,100
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*:
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
5.9
14 TYPE OF REPORTING PERSON*:
BD
See Instructions Before Filling Out!
Page 3
SCHEDULE 13D
Item 1: Security and Issuer
(a) Title and Class: Common Stock
(b) Name and address: Savannah Foods & Industries, Inc.
P. O. Box 339
Savannah, GA 31402-0339
Item 2: Identity and Background Identity
(a) Name: Bear, Stearns & Co. Inc. ("Bear
Stearns")
(b) Place of Organization: Delaware
(c)(i) Principal Business: Securities Broker/Dealer
(ii) Address: 245 Park Avenue
New York, NY 10167
The following information with respect to each executive officer and
director of Bear Stearns is set forth on Appendix I hereto: (i) name,
(ii) business address, and (iii) principal occupation or employment.
(d) None
(e) See Appendix II
(f) See Appendix I
Item 3: Source and Amount of Funds or Other Consideration
Working capital of Bear Stearns and personal funds of discretionary
accounts. The aggregate purchase price of the 1,719,100 shares of Common Stock
was approximately $30,514,025.
Item 4: Purpose of Transaction
Bear Stearns has acquired the Common Stock of Savannah Foods & Industries,
Inc. in the ordinary course of its business as a broker/dealer in
connection with its trading and investment activities. Bear Stearns may
acquire additional securities of the Issuer or dispose of securities of
the Issuer in connection with such trading and investment activities.
Although the foregoing represents the range of activities presently
contemplated by Bear Stearns with respect to the Issuer, it should be
noted that the possible activities of Bear Stearns are subject to change
at any time.
Except as set forth above, Bear Stearns has no present plans or
intentions which relate to or would result in any of the actions described in
subparagraph (a) through (j) of Item 4 of Schedule 13D.
Page 4
SCHEDULE 13D
Item 5: Interest in Securities of the Issuer as of 10/13/97
(a) Number: 1,707,100
Percentage: 5.9
(b) 1. Sole power to vote or to direct the vote: 1,651,080
2. Shared power to vote or to direct the vote: 56,020
3. Sole power to dispose or to direct the disposition: 1,651,080
4. Shared power to dispose or to direct the disposition: 56,020
(c) Information concerning transactions in the common stock effected by
Bear Stearns is set forth on Appendix III hereto.
(d) Inapplicable.
(e) Inapplicable.
Item 6: Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer:
None
Item 7: Material to be Filed as Exhibits:
None
Page 5
Signature:
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true,
complete and correct.
Dated: 10/22/97 BEAR, STEARNS & CO. INC.
By: /s/
Steve D. Meyer
Senior Managing Director
APPENDIX I
DIRECTORS AND EXECUTIVE OFFICERS OF BEAR, STEARNS & CO. INC.
Name Principal Occupation or Employment
Alan C. Greenberg Chairman of the Board and Director
James E. Cayne President, Chief Executive Officer and Director
Alan D. Schwartz Executive Vice President and Director
Warren J. Spector Executive Vice President and Director
Michael L. Tarnopol Executive Vice President and Director
John L. Knight Director
John M. Slade Director Emeritus
Kenneth L. Edlow Secretary
Samuel L. Molinaro, Jr. Chief Financial Officer
Michael J. Abatemarco Controller and Assistant Secretary
Michael Minikes Treasurer
Frederick B. Casey Assistant Treasurer
Mark E. Lehman Executive Vice President, General Counsel and
Director
William J. Montgoris Chief Operating Officer
John L. Knight is a citizen of the United Kingdom and his business
address is One Canada Square London E16 5AD England. Michael J. Abatemarco
is a citizen of the United States and his business address is One Metrotech
Center North, Brooklyn, New York 11201. All other Directors and Executive
Officers are citizens of the United States and their business address is 245
Park Avenue, New York, New York 10167. Bear, Stearns & Co. Inc. is a
wholly-owned subsidiary of The Bear Stearns Companies Inc. and of the persons
named, all but John L. Knight hold similar office in the parent company.
APPENDIX II Page 7
BEAR, STEARNS & CO. INC.
Savannah Foods & Industries, Inc.
Trading from 8/01/97 through 8/15/97
(Various Firm Accounts)
***** 10/13 *****
250,000 SAVANNAH FOODS & INDUSTRIES 18 15/16 4,734,375.00
INC
458,300 SAVANNAH FOODS & INDUSTRIES 18 15/16 8,679,056.25
INC
488,300 SAVANNAH FOODS & INDUSTRIES 18 15/16 9,247,181.25
INC
250,000 SAVANNAH FOODS & INDUSTRIES 18 15/16 4,734,375.00
INC
***** 09/12 *****
25,000 SAVANNAH FOODS & INDUSTRIES 19 1/4 481,250.00
INC
1,085 SAVANNAH FOODS & INDUSTRIES 19.2500 20,886.25
INC
***** 09/11 *****
22,500 SAVANNAH FOODS & INDUSTRIES 18 1/16 406,406.25
INC
***** 09/09 *****
25,000 SAVANNAH FOODS & INDUSTRIES 17 15/16 449,687.50
INC
40,000 SAVANNAH FOODS & INDUSTRIES 17.9902 719,608.00
INC
5,000- SAVANNAH FOODS & INDUSTRIES 18 89,997.00-
INC
423 SAVANNAH FOODS & INDUSTRIES 17.9902 7,609.85
INC
***** 09/08 *****
300- SAVANNAH FOODS & INDUSTRIES 17 1/16 5,118.75-
INC CXL
TO CXL PREVIOUS BUY
4,700- SAVANNAH FOODS & INDUSTRIES 17 1/8 80,487.50-
INC CXL
TO CXL PREVIOUS BUY
7,500 SAVANNAH FOODS & INDUSTRIES 17 15/16 134,531.25
INC
11,000 SAVANNAH FOODS & INDUSTRIES 17 7/8 196,625.00
INC
25,000 SAVANNAH FOODS & INDUSTRIES 18 3/16 454,687.50
INC
PRINCIPAL
1,129 SAVANNAH FOODS & INDUSTRIES 18.0375 20,364.34
INC
***** 09/05 *****
300 SAVANNAH FOODS & INDUSTRIES 17 1/16 5,118.75
INC
900 SAVANNAH FOODS & INDUSTRIES 17 1/8 15,412.50
INC
4,700 SAVANNAH FOODS & INDUSTRIES 17 1/8 80,487.50
INC
***** 09/04 *****
20,000 SAVANNAH FOODS & INDUSTRIES 17 1/4 345,000.00
INC
335 SAVANNAH FOODS & INDUSTRIES 17 1/4 5,778.75
INC
***** 09/03 *****
4,500 SAVANNAH FOODS & INDUSTRIES 17 1/4 77,625.00
INC
***** 08/28 *****
500 SAVANNAH FOODS & INDUSTRIES 17 7/16 8,718.75
INC
PRINCIPAL
AS OF 08/27/97
6,000 SAVANNAH FOODS & INDUSTRIES 17 1/2 105,000.00
INC
PRINCIPAL
AS OF 08/27/97
7,000- SAVANNAH FOODS & INDUSTRIES 17.3403 121,378.05-
INC
508 SAVANNAH FOODS & INDUSTRIES 17.3403 8,808.87
INC
***** 08/27 *****
100 SAVANNAH FOODS & INDUSTRIES 17 13/16 1,781.25
INC
25,000 SAVANNAH FOODS & INDUSTRIES 17 1/4 432,500.00
INC
(Various Discretionary Accounts)
***** 09/12 *****
972 SAVANNAH FOODS & INDUSTRIES 19.2500 18,711.00
INC
1,468 SAVANNAH FOODS & INDUSTRIES 19.2500 28,259.00
INC
3,975 SAVANNAH FOODS & INDUSTRIES 19.2500 76,518.75
INC
***** 09/11 *****
1,474 SAVANNAH FOODS & INDUSTRIES 18.0625 26,624.13
INC
6,026 SAVANNAH FOODS & INDUSTRIES 18.0625 108,844.63
INC
***** 09/10 *****
500 SAVANNAH FOODS & INDUSTRIES 18 9,030.00
INC
500 SAVANNAH FOODS & INDUSTRIES 18 9,030.00
INC
1,200 SAVANNAH FOODS & INDUSTRIES 18 21,672.00
INC
354 SAVANNAH FOODS & INDUSTRIES 17.9902 6,368.53
INC
1,400 SAVANNAH FOODS & INDUSTRIES 18 25,284.00
INC
1,400 SAVANNAH FOODS & INDUSTRIES 18 25,284.00
INC
***** 09/09 *****
951 SAVANNAH FOODS & INDUSTRIES 17.9902 17,108.68
INC
419 SAVANNAH FOODS & INDUSTRIES 17.9902 7,537.89
INC
451 SAVANNAH FOODS & INDUSTRIES 17.9902 8,113.58
INC
571 SAVANNAH FOODS & INDUSTRIES 17.9902 10,272.40
INC
765 SAVANNAH FOODS & INDUSTRIES 17.9902 13,762.50
INC
3,891 SAVANNAH FOODS & INDUSTRIES 17.9902 69,999.87
INC
1,010 SAVANNAH FOODS & INDUSTRIES 17.9902 18,170.10
INC
625 SAVANNAH FOODS & INDUSTRIES 17.9902 11,243.88
INC
**** 09/08 *****
296 SAVANNAH FOODS & INDUSTRIES 18.0375 5,339.10
INC
1,554 SAVANNAH FOODS & INDUSTRIES 18.0375 28,030.28
INC
540 SAVANNAH FOODS & INDUSTRIES 17.9902 9,714.71
INC
1,521 SAVANNAH FOODS & INDUSTRIES 18.0375 27,435.04
INC
641 SAVANNAH FOODS & INDUSTRIES 18.0375 11,562.04
INC
6,354 SAVANNAH FOODS & INDUSTRIES 18.0375 114,610.28
INC
483 SAVANNAH FOODS & INDUSTRIES 18.0375 8,712.11
INC
522 SAVANNAH FOODS & INDUSTRIES 18.0375 9,415.58
INC
**** 09/05 *****
982 SAVANNAH FOODS & INDUSTRIES 17.1213 16,813.12
INC
4,018 SAVANNAH FOODS & INDUSTRIES 17.1213 68,793.38
INC
***** 09/04 *****
757 SAVANNAH FOODS & INDUSTRIES 17 1/4 13,058.25
INC
453 SAVANNAH FOODS & INDUSTRIES 17 1/4 7,814.25
INC
3,093 SAVANNAH FOODS & INDUSTRIES 17 1/4 53,354.25
INC
362 SAVANNAH FOODS & INDUSTRIES 17 1/4 6,244.50
INC
***** 08/28 *****
1,140 SAVANNAH FOODS & INDUSTRIES 17.3403 19,767.94
INC
685 SAVANNAH FOODS & INDUSTRIES 17.3403 11,878.11
INC
4,667 SAVANNAH FOODS & INDUSTRIES 17.3403 80,927.18
INC
