<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
DELTA AND PINE LAND COMPANY
---------------------------
(Name of Issuer)
Common Stock, $0.10 Par Value
-----------------------------
(Title of Class of Securities)
247357106
---------
(CUSIP Number)
December 31, 1998
-----------------
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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 the
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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- ---------------------------------- -----------------------
CUSIP No. 247357106 13G Page 2 of 11 Pages
------------------------ --- ----
- ---------------------------------- -----------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Soros Fund Management LLC
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
1,975,921
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,975,921
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,975,9211
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.14%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO, IA
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
- --------------------------
1 Position as of February 11, 1999.
Page 2 of 11 Pages
<PAGE>
- ---------------------------------- -----------------------
CUSIP No. 247357106 13G Page 3 of 11 Pages
------------------------ --- ----
- ---------------------------------- -----------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
George Soros (in the capacity described herein)
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,975,921
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,975,921
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,975,9212
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.14%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
- --------------------------
2 Position as of February 11, 1999.
Page 3 of 11 Pages
<PAGE>
- ---------------------------------- -----------------------
CUSIP No. 247357106 13G Page 4 of 11 Pages
------------------------ --- ----
- ---------------------------------- -----------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stanley F. Druckenmiller (in the capacity described herein)
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,975,921
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,975,921
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,975,9213
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.14%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
- --------------------------
3 Position as of February 11, 1999.
Page 4 of 11 Pages
<PAGE>
- ---------------------------------- -----------------------
CUSIP No. 247357106 13G Page 5 of 11 Pages
------------------------ --- ----
- ---------------------------------- -----------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Duquesne Capital Management, L.L.C.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
PENNSYLVANIA
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-4
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.00%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO, IA
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
- --------------------------
4 Position as of February 11, 1999.
Page 5 of 11 Pages
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Item 1(a) Name of Issuer:
- --------- ---------------
Delta and Pine Land Company (the "Issuer")
Item 1(b) Address of Issuer's Principal Executive Offices:
- --------- ------------------------------------------------
One Cotton Row
Scott, Mississippi 38772
Items 2(a) Name of Person Filing:
- ---------- ----------------------
This Statement is filed on behalf of the following persons
(collectively, the "Reporting Persons"):
i) Soros Fund Management LLC, a Delaware limited liability
company ("SFM LLC");
ii) Mr. George Soros ("Mr. Soros");
iii) Mr. Stanley F. Druckenmiller ("Mr. Druckenmiller"); and
iv) Due to a recent disposition of all of the Shares (as defined
herein) held for the accounts of the Duquesne Clients (as
defined herein), this Schedule 13G will no longer include
Duquesne Capital Management, L.L.C., a Pennsylvania limited
liability company, as a Reporting Person.
This Statement relates to Shares (as defined herein) held for the
accounts of Quantum Partners, Quasar Partners and the Duquesne
LLC Clients (each as defined herein). SFM LLC serves as principal
investment manager to Quantum Partners LDC, a Cayman Islands
exempted limited duration company ("Quantum Partners") and, as
such, has been granted investment discretion over portfolio
investments, including the Shares held for the account of Quantum
Partners. Pursuant to a combination of Quasar International Fund
N.V. ("Quasar Fund") with and into Quantum Industrial Holdings
Ltd. ("QIH"), effective February 1, 1999, portfolio investments
previously held indirectly by Quasar Fund (including the Shares
held for the account of Quasar International Partners, C.V., a
Page 6 of 11 Pages
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Netherlands Antilles limited partnership ("Quasar Partners")),
were transferred to, and are held indirectly by, QIH. SFM LLC
serves as principal investment manager to both Quasar Partners
and QIH, and remains the principal investment manager of such
portfolio investments. Mr. Soros is the Chairman of SFM LLC. Mr.
Druckenmiller is the Lead Portfolio Manager and a Member of the
Management Committee of SFM LLC. Mr. Druckenmiller also owns a
75% interest in, and is the sole managing member of, Duquesne
LLC, an investment advisory firm that serves as a discretionary
investment advisor to a limited number of institutional clients
(the "Duquesne LLC Clients").
Item 2(d) Title of Class of Securities:
- --------- -----------------------------
Common Stock, par value $0.10 per share (the "Shares")
Item 2(e) CUSIP Number:
- --------- -------------
247357106
Item 4. Ownership:
- ------- ----------
Item 4(a) Amount Beneficially Owned:
- --------- --------------------------
As of February 11, 1999, each of the Reporting Persons may be
deemed the beneficial owner of the following number of Shares:
i) SFM LLC, Mr. Soros and Mr. Druckenmiller may be deemed to be
the beneficial owner of 1,975,921 Shares. This number consists of
(A) 1,934,577 Shares held for the account of Quantum Partners and
(B) 41,344 Shares held for the account of Quasar Partners.
ii) Duquesne LLC may be deemed the beneficial owner of -0- Shares
held for the accounts of the Duquesne LLC Clients.
Item 4(b) Percent of Class:
- --------- -----------------
i) The number of Shares of which each of SFM LLC, Mr. Soros and
Mr. Druckenmiller may be deemed to be the beneficial owner
constitutes approximately 5.14% of the total number of Shares
outstanding.
Page 7 of 11 Pages
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ii) The number of Shares of which Duquesne LLC may be deemed to
be the beneficial owner constitutes 0.00% the total number of
Shares outstanding.
Item 4(c) Number of shares as to which such person has:
- --------- ---------------------------------------------
SFM LLC
-------
(i) Sole power to vote or to direct the vote: 1,975,921
(ii) Shared power to vote or to direct the vote: -0-
(iii) Sole power to dispose or to direct the disposition of:
1,975,921
(iv) Shared power to dispose or to direct the disposition of:
-0-
Mr. Soros
---------
(i) Sole power to vote or to direct the vote: -0-
(ii) Shared power to vote or to direct the vote: 1,975,921
(iii) Sole power to dispose or to direct the disposition of:
-0-
(iv) Shared power to dispose or to direct the disposition of:
1,975,921
Mr. Druckenmiller
-----------------
(i) Sole power to vote or to direct the vote: -0-
(ii) Shared power to vote or to direct the vote: 1,975,921
(iii) Sole power to dispose or to direct the disposition of:
-0-
(iv) Shared power to dispose or to direct the disposition of:
1,975,921
Page 8 of 11 Pages
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Duquesne LLC
------------
(i) Sole power to vote or to direct the vote: -0-
(ii) Shared power to vote or to direct the vote: -0-
(iii) Sole power to dispose or to direct the disposition of:
-0-
(iv) Shared power to dispose or to direct the disposition of:
-0-
Item 6 Ownership of More than Five Percent on Behalf of Another Person:
- ------ ----------------------------------------------------------------
The shareholders of Quantum Partners, including Quantum Fund
N.V., a Netherlands Antilles company, have the right to
participate in the receipt of dividends from, or proceeds from
the sale of, the Shares held for the account of Quantum Partners
in accordance with their ownership interests in Quantum Partners.
The partners of Quasar Partners, including Quantum Industrial
Partners LDC, a Cayman Islands Limited Duration Company, have the
right to participate in the receipt of dividends from, or
proceeds from the sale of, securities (including the Shares) held
for the account of Quasar Partners in accordance with their
partnership interests in Quasar Partners.
Duquesne LLC expressly disclaims beneficial ownership of any
Shares.
Item 7 Identification and Classification of the
- ------ ----------------------------------------
Subsidiary Which Acquired the Security Being
--------------------------------------------
Reported on By the Parent Holding Company:
------------------------------------------
Not Applicable
Item 8 Identification and Classification of Members of the Group:
- ------ ----------------------------------------------------------
Not Applicable
Item 9 Notice of Dissolution of Group:
- ------ -------------------------------
Not Applicable
Page 9 of 11 Pages
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Item 10 Certification:
- ------- --------------
By signing below each signatory certifies that, to the best of his/its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the Issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
Page 10 of 11 Pages
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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 statement is true, complete and
correct.
Dated: February 12, 1999 SOROS FUND MANAGEMENT LLC
By: /s/ Michael C. Neus
----------------------------
Michael C. Neus
Assistant General Counsel
Dated: February 12, 1999 GEORGE SOROS
By: /s/ Michael C. Neus
----------------------------
Michael C. Neus
Attorney-in-Fact
Dated: February 12, 1999 STANLEY F. DRUCKENMILLER
By: /s/ Michael C. Neus
----------------------------
Michael C. Neus
Attorney-in-Fact
Dated: February 12, 1999 DUQUESNE CAPITAL MANAGEMENT, L.L.C.
By: /s/ Gerald Kerner
----------------------------
Gerald Kerner
Managing Director
Page 11 of 11 Pages
