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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(d)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
AND
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(a)
(AMENDMENT NO. 10)
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THE PRESLEY COMPANIES
(NAME OF SUBJECT COMPANY [ISSUER])
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WILLIAM LYON
AND
WILLIAM H. LYON
(BIDDERS)
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SERIES A COMMON STOCK, PAR VALUE $0.01 PER SHARE
(TITLE OF CLASS OF SECURITIES)
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741030-10-0
(CUSIP NUMBER OF CLASS OF SECURITIES)
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WILLIAM LYON
WILLIAM H. LYON
C/O WILLIAM LYON HOMES, INC.
4490 VON KARMAN
NEWPORT BEACH, CALIFORNIA 92660
(949) 833-3600
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSONS AUTHORIZED
TO RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF BIDDERS)
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COPY TO:
DAVID A. KRINSKY, ESQ.
O'MELVENY & MYERS LLP
610 NEWPORT CENTER DRIVE, SUITE 1700
NEWPORT BEACH, CALIFORNIA 92660-6429
(949) 823-7902
CALCULATION OF FILING FEE
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TRANSACTION AMOUNT OF
VALUATION* FILING FEE**
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$6,994,608.76 $1,399.00
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* Estimated for purpose of calculating the filing fee only. This amount assumes
the purchase of 10,678,792 shares of Series A Common Stock, par value $0.01
per share, of The Presley Companies, a Delaware corporation, at a price of
$0.655 per share in accordance with the terms of the tender offer described
herein.
** The fee, calculated in accordance with Rule 0-11(d) of the Securities
Exchange Act of 1934, is 1/50th of one percent of the aggregate Transaction
Valuation.
[X] Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
and identify the filing with which the offsetting fee was previously paid.
Identify the previous filing by registration statement number, or the form
or schedule and the date of its filing.
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Amount previously paid: $1,399.00 Filing party: William Lyon
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Form or registration no.: Schedule 14D-1 Date filed: October 7, 1999
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SCHEDULE 14D-1
CUSIP NO. 741030-10-0 PAGE 2 OF 6 PAGES
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1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
WILLIAM LYON
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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* PF, AF, OO
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5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(e) OR 2(f) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES OF
AMERICA
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7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,189,589 SHARES
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8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES* [X]
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9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) 11.7%
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10. TYPE OF REPORTING PERSON* IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 14D-1
CUSIP NO. 741030-10-0 PAGE 3 OF 6 PAGES
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1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
WILLIAM H. LYON
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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* PF, AF, OO
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5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(e) OR 2(f) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES OF
AMERICA
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7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 SHARES
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8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES* [X]
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9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) 0%
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10. TYPE OF REPORTING PERSON* IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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William Lyon and William H. Lyon (collectively, the "Purchasers") hereby
amend and supplement their Tender Offer Statement on Schedule 14D-1 (the
"Schedule 14D-1") relating to the Purchasers' offer to purchase up to 10,678,792
shares (subject to adjustment) of outstanding Series A Common Stock, $0.01 par
value per share (the "Series A Shares"), of The Presley Companies, a Delaware
corporation (the "Company"), upon the terms and subject to the conditions set
forth in the Offer to Purchase, dated October 7, 1999 (the "Offer to Purchase"),
and in the related Letter of Transmittal (which, as amended from time to time,
together constitute the "Offer"). The Purchasers also hereby amend and
supplement their Statement on Schedule 13D with respect to the beneficial
ownership of Series A Shares of the Company.
The item numbers and responses thereto are in accordance with the
requirements of Schedule 14D-1. Capitalized terms not defined herein have the
meanings assigned thereto in the Offer to Purchase.
ITEM 3. PAST CONTACTS, TRANSACTIONS OR NEGOTIATIONS WITH THE SUBJECT COMPANY.
Item 3 of the Schedule 14D-1 is hereby amended and supplemented as follows:
William Lyon Homes, Inc. ("WLHI") has held preliminary discussions with
management of the Company regarding the terms of a possible option in favor of
Presley Homes to purchase certain real estate assets owned by WLHI and located
in Ontario, California. These assets are not included in the properties to be
purchased by Presley Homes or its permitted assigns pursuant to the Purchase
Agreement and Escrow Instructions entered into on October 7, 1999 by the
Company, Presley Homes, WLHI, William Lyon and William H. Lyon. While the
parties have not reached a definitive agreement with respect to an option to
purchase the Ontario property, the purchase price payable by Presley Homes
pursuant to such option is expected to be approximately $3 million.
ITEM 10. ADDITIONAL INFORMATION.
Item 10 of the Schedule 14D-1 is hereby amended and supplemented as
follows:
On October 29, 1999, the Purchasers announced that they have waived the
Minimum Condition to the Offer. A copy of the Purchasers' press release is filed
as Exhibit (a)(8) hereto and incorporated herein by reference.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
Item 11 of the Schedule 14D-1 is hereby amended and supplemented to add the
following exhibit which is filed herewith:
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(a)(8) Press Release, dated October 29, 1999.
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SIGNATURE
AFTER DUE 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.
/s/ WILLIAM LYON
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William Lyon
/s/ WILLIAM H. LYON
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William H. Lyon
Dated: October 29, 1999
Page 5 of 6 Pages
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EXHIBIT INDEX
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EXHIBIT DESCRIPTION
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(a)(8) Press Release, dated October 29, 1999.
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EXHIBIT A(8)
FOR IMMEDIATE RELEASE
NEWPORT BEACH, CALIFORNIA, October 29, 1999 - William Lyon and William H. Lyon
today announced that they have waived the minimum share tender requirement in
connection with their tender offer (the "Offer") for up to 10,678,792
outstanding shares of Series A Common Stock (the "Series A Shares") of The
Presley Companies, a Delaware corporation (NYSE: PDC), at a price of $0.655 per
share. The Offer initially was conditioned upon there being validly tendered
and not withdrawn prior to the expiration of the Offer at least 1,989,180
Series A Shares. The Offer is no longer conditioned upon the tender of a
minimum number of Series A Shares. All other terms and conditions of the Offer
remain unchanged from those set forth in the Offer to Purchase dated October 7,
1999.
For further information, please contact:
Thomas J. Leary
O'Melveny & Myers LLP
(949) 760-9600
