SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 1
To
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Acme-Cleveland Corporation
--------------------------
(Name of Issuer)
Common Stock, $1.00 par value
-----------------------------
(Title of Class of Securities)
004626107
--------------
(CUSIP Number)
David P. Levin, Esq.
Kramer, Levin, Naftalis, Nessen, Kamin & Frankel
919 Third Avenue
New York, New York 10022
(212) 715-9100
--------------------------------------
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
June 3, 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: |_|
Page 1 of 12 pages
<PAGE>
SCHEDULE 13D
CUSIP No. 004626107 Page 2 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN & CO., L.P. 13-3321472
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
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
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 300,000 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 300,000 (See Item 5)
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 300,000 (See Item 5)
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7% (See Item 5)
14) TYPE OF REPORTING PERSON
PN
- 2 -
<PAGE>
SCHEDULE 13D
CUSIP No. 004626107 Page 3 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN FOCUS FUND L.P. 13-3746015
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
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
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 60,000 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 60,000 (See Item 5)
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 60,000 (See Item 5)
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.9% (See Item 5)
14) TYPE OF REPORTING PERSON
PN
- 3 -
<PAGE>
SCHEDULE 13D
CUSIP No. 004626107 Page 4 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN INTERNATIONAL LIMITED
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
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
BRITISH VIRGIN ISLANDS
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 45,000 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 45,000 (See Item 5)
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 45,000 (See Item 5)
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.7% (See Item 5)
14) TYPE OF REPORTING PERSON
CO
- 4 -
<PAGE>
SCHEDULE 13D
CUSIP No. 004626107 Page 5 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN PARTNERS, L.P. 13-3544838
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
3) SEC USE ONLY
4) SOURCE OF FUNDS
AF
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
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 360,000 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 360,000 (See Item 5)
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 360,000 (See Item 5)
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.6% (See Item 5)
14) TYPE OF REPORTING PERSON
PN
- 5 -
<PAGE>
SCHEDULE 13D
CUSIP No. 004626107 Page 6 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN PARTNERS INC. 13-3537972
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
3) SEC USE ONLY
4) SOURCE OF FUNDS
AF
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
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 405,000 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 405,000 (See Item 5)
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 405,000 (See Item 5)
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3% (See Item 5)
14) TYPE OF REPORTING PERSON
CO
- 6 -
<PAGE>
SCHEDULE 13D
CUSIP No. 004626107 Page 7 of 12 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MARK DICKSTEIN
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
3) SEC USE ONLY
4) SOURCE OF FUNDS
AF
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
6) CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 405,000 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 405,000 (See Item 5)
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 405,000 (See Item 5)
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3% (See Item 5)
14) TYPE OF REPORTING PERSON
IN
- 7 -
<PAGE>
Amendment No. 1 to Schedule 13D
This statement amends the Schedule 13D, dated March 22, 1996,
(the "Schedule 13D") filed by Dickstein & Co., L.P. ("Dickstein & Co."),
Dickstein Focus Fund L.P. ("Dickstein Focus"), Dickstein International Limited
("Dickstein International"), Dickstein Partners, L.P. ("Dickstein Partners"),
Dickstein Partners Inc. ("Dickstein Inc.") and Mark Dickstein with respect to
the Common Stock, $1.00 par value (the "Common Stock"), of Acme-Cleveland
Corporation, an Ohio corporation (the "Company"). Notwithstanding this Amendment
No. 1, the Schedule 13D speaks as of its date. Capitalized terms used without
definition have the meanings ascribed to them in the Schedule 13D.
I. Item 3 of the Schedule 13D, "Source and Amount of Funds or Other
Consideration", is amended and restated in its entirety as follows:
"The shares of Common Stock reported to be owned by Dickstein
& Co., Dickstein Focus and Dickstein International were acquired in the open
market. Giving effect to certain purchases and sales of the Common Stock made by
each such entity, the total cost of the reported shares by Dickstein & Co.,
Dickstein Focus and Dickstein International is $9,410,691, $1,883,743 and
$1,411,546, respectively. Such costs were funded out of working capital, which
may, at any given time, include margin loans made by brokerage firms in the
ordinary course of business.
II. Items 5(a) and 5(c) of the Schedule 13D, "Interest in Securities of the
Issuer", are amended and restated as follows:
"(a) The Reporting Persons beneficially own an aggregate of
405,000 shares of Common Stock, representing approximately 6.3% of the Common
Stock outstanding. Dickstein & Co. owns 300,000 of such shares, representing
approximately 4.7% of the Common Stock outstanding, Dickstein Focus owns 60,000
of such shares, representing approximately .9% of the Common Stock outstanding
and Dickstein International beneficially owns 45,000 of such shares,
representing approximately .7% of the Common Stock outstanding.(1)
(c) Except for the transactions set forth on Schedule II
annexed hereto, none of the persons identified in Item 2 has effected any
transactions in the Common Stock during the past 60 days. All such transactions
were effected in the open market.
(1) Percentages are based upon 6,424,578 shares of Common Stock reported
outstanding as of April 17, 1996 in the Company's Quarterly Report on
Form 10-Q for the quarter ended March 31, 1996.
- 8 -
<PAGE>
SIGNATURE
After reasonable inquiry and to the best knowledge and belief
of the undersigned, the undersigned certifies that the information set forth in
this Statement is true, complete and correct.
Date: June 5, 1996
DICKSTEIN & CO., L.P.
By: Alan Cooper, as Vice President
of Dickstein Partners Inc.,
the general partner of
Dickstein Partners, L.P., the
general partner of Dickstein &
Co., L.P.
/s/ Alan Cooper
Name: Alan Cooper
DICKSTEIN FOCUS FUND L.P.
By: Alan Cooper, as Vice President
of Dickstein Partners Inc.,
the general partner of
Partners, L.P., the general
partner of Dickstein Focus
Fund L.P.
/s/ Alan Cooper
Name: Alan Cooper
DICKSTEIN INTERNATIONAL LIMITED
By: Alan Cooper, as Vice President
of Dickstein Partners Inc.,
the agent of Dickstein
International Limited
/s/ Alan Cooper
Name: Alan Cooper
DICKSTEIN PARTNERS, L.P.
By: Alan Cooper, as Vice President
of Dickstein Partners Inc.,
the general partner of
Dickstein Partners, L.P.
/s/ Alan Cooper
Name: Alan Cooper
- 9 -
<PAGE>
DICKSTEIN PARTNERS INC.
By: Alan Cooper, as Vice President
/s/ Alan Cooper
Name: Alan Cooper
/s/ Mark Dickstein
Mark Dickstein
- 10 -
<PAGE>
SCHEDULE II
TRANSACTIONS IN COMMON
STOCK OF ACME-CLEVELAND CORPORATION
DURING THE PRECEDING 60 DAYS
<TABLE>
<CAPTION>
Shares Purchased by Dickstein & Co., L.P.
- -----------------------------------------
Number of
Shares Price per
Date Purchased share Commission Total Cost
- ---- --------- ----- ---------- ----------
<S> <C> <C> <C> <C>
4/11/96 2,000 $30.6250 $135.00 $61,385.00
4/12/96 1,300 30.6250 93.00 39,905.50
4/16/96 3,700 31.1250 237.00 115,399.50
4/16/96 2,200 30.7500 147.00 67,797.00
4/17/96 1,700 30.7500 117.00 52,392.00
4/18/96 26,600 30.1250 1,611.00 802,936.00
</TABLE>
<TABLE>
<CAPTION>
Shares Sold by Dickstein & Co., L.P.
- ------------------------------------
Number of
Shares Price per Total
Date Sold share Commission Proceeds
- ---- ---- ----- ---------- --------
<S> <C> <C> <C> <C>
4/9/96 11,500 $30.5000 $ 716.70 $350,033.30
4/10/96 22,000 30.5620 1,357.42 671,006.58
5/30/96 27,000 29.6250 1,661.67 798,213.33
6/3/96 143,500 29.7500 8,752.30 4,260,372.70
</TABLE>
<TABLE>
<CAPTION>
Shares Purchased by Dickstein International Limited
- ---------------------------------------------------
Number of
Shares Price per
Date Purchased share Commission Total Cost
- ---- --------- ----- ---------- ----------
<S> <C> <C> <C> <C>
4/15/96 1,000 $30.8875 $ 75.00 $30,962.50
4/18/96 4,000 30.1250 255.00 120,755.00
</TABLE>
<TABLE>
<CAPTION>
Shares Sold by Dickstein International Limited
- ----------------------------------------------
Number of
Shares Price per Total
Date Sold share Commission Proceeds
- ---- ---- ----- ---------- --------
<S> <C> <C> <C> <C>
4/09/96 1,700 $30.5000 $ 118.73 $51,731.27
4/10/96 3,000 30.5620 198.06 91,487.94
5/30/96 4,000 29.6250 258.95 118,241.05
6/3/96 20,900 29.7500 1,274.73 620,500.27
</TABLE>
- 11 -
<PAGE>
<TABLE>
<CAPTION>
Shares Purchased by Dickstein Focus Fund L.P.
- ---------------------------------------------
Number of
Shares Price per
Date Purchased share Commission Total Cost
- ---- --------- ----- ---------- ----------
<S> <C> <C> <C> <C>
4/16/96 1,500 $31.1250 $105.00 $46,792.50
4/18/96 5,400 30.1250 339.00 163,014.00
</TABLE>
<TABLE>
<CAPTION>
Shares Sold by Dickstein Focus Fund L.P.
- ----------------------------------------
Number of
Shares Price per Total
Date Sold share Commission Proceeds
- ---- ---- ----- ---------- --------
<S> <C> <C> <C> <C>
4/9/96 2,300 $30.5000 $ 155.34 $ 69,994.66
4/10/96 5,000 30.5620 305.10 152,504.90
5/30/96 5,500 29.6250 350.44 162,587.06
6/3/96 27,900 29.7500 1,701.67 828,323.33
</TABLE>
- 12 -
