<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
SFX Broadcasting, Inc.
----------------------------
(Name of Issuer)
Class A Common Stock, $0.01 par value
--------------------------------------
(Title of Class of Securities)
784174104
---------------
(CUSIP Number)
Andrew S. Paul, Esq.
c/o Tudor Investment Corporation
One Liberty Plaza (51st Floor)
New York, New York 10006
(212) 602-6700
---------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 10, 1998
-----------------
(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 [ ].
Page 1
<PAGE>
- --------------------
CUSIP NO. 784174104
- --------------------
- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Investment Corporation
TIN: 22-2514825
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[X ]
- -----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 488,500
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
488,500
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
488,500
- -----------------------------------------------------------------
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%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -----------------------------------------------------------------
Page 2
<PAGE>
- --------------------
CUSIP NO. 784174104
- --------------------
- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paul Tudor Jones, II
TIN:
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
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 of America
- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 532,800
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
532,800
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
532,800
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- -----------------------------------------------------------------
Page 3
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- --------------------
CUSIP NO. 784174104
- --------------------
- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Raptor Global Fund Ltd.
TIN: n/a
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- ------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 221,700
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
221,700
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
221,700
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.5%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -----------------------------------------------------------------
Page 4
<PAGE>
- --------------------
CUSIP NO. 784174104
- --------------------
- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Raptor Global Fund L.P.
TIN: 13-3735415
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
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
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 74,000
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
74,000
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
74,000
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -----------------------------------------------------------------
Page 5
<PAGE>
- --------------------
CUSIP NO. 784174104
- --------------------
- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Arbitrage Partners L.P.
TIN: 13-3496979
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
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
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 44,300
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
44,300
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
44,300
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -----------------------------------------------------------------
Page 6
<PAGE>
- --------------------
CUSIP NO. 784174104
- --------------------
- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Global Trading LLC
TIN: 13-3862744
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
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
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 44,300
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
44,300
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
44,300
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -----------------------------------------------------------------
Page 7
<PAGE>
- --------------------
CUSIP NO. 784174104
- --------------------
- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor BVI Futures, Ltd.
TIN: n/a
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
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
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 151,800
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
151,800
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
151,800
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.7%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -----------------------------------------------------------------
Page 8
<PAGE>
- --------------------
CUSIP NO. 784174104
- --------------------
- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Upper Mill Capital Appreciation Fund Ltd.
TIN: n/a
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- -----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- -----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 41,000
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
41,000
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
41,000
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -----------------------------------------------------------------
Page 9
<PAGE>
Item 1. Security and Issuer
-------------------
This Schedule 13D, dated February 19, 1998, relates to the class A common
stock, $0.01 par value per share ("Common Stock"), of SFX Broadcasting, Inc., a
Delaware corporation (the "Company"), and is filed by Tudor Investment
Corporation, a Delaware corporation ("TIC"), Paul Tudor Jones, II, a natural
person and a citizen of the United States ("Mr. Jones"), The Raptor Global Fund
Ltd., a company organized under the laws of the Cayman Islands ("Raptor Ltd."),
The Raptor Global Fund L.P., a Delaware limited partnership ("Raptor L.P."),
Tudor Arbitrage Partners L.P., a Delaware limited partnership ("TAP"), Tudor
Global Trading LLC, a Delaware limited liability company ("TGT"), Tudor BVI
Futures, Ltd., a corporation organized under the laws of the British Virgin
Islands ("Tudor BVI"), and The Upper Mill Capital Appreciation Fund Ltd., a
corporation organized under the laws of the Cayman Islands ("Upper Mill" and
collectively with TIC, Mr. Jones, Raptor Ltd., Raptor L.P., TAP, TGT, and Tudor
BVI, the "Reporting Persons").* The summaries of information on schedules
attached hereto are qualified in their entirety by reference to such schedules,
which are incorporated by reference herein.
The Company's principal executive offices are located at 150 East 58th Street,
New York, NY 10155.
Item 2. Identity and Background.
-----------------------
The Reporting Persons are TIC, Mr. Jones, Raptor Ltd., Raptor L.P., TAP, TGT,
Tudor BVI and Upper Mill. The business address of each of TIC, Mr. Jones,
Raptor L.P., TAP and TGT is c/o Tudor Investment Corporation, 600 Steamboat
Road, Greenwich, Connecticut 06830. The business address of each of Raptor
Ltd., Tudor BVI and Upper Mill is c/o Curacao International Trust Company N.V.,
Kaya Flamboyan 9, Curacao, Netherlands Antilles.
TIC is an international money management firm that provides investment advice
to Raptor Ltd., Raptor L.P., Tudor BVI and Upper Mill, among others. TIC is also
the sole general partner of Raptor L.P.
Mr. Jones' principal employment is as Chairman and Chief Executive Officer of
TIC of which he owns a majority of the capital stock and voting securities.
Each of Raptor Ltd., Raptor L.P., TAP, Tudor BVI and Upper Mill is an
investment fund which principally invests in
- -------------------------------
* For purposes of this Statement on Schedule 13D the Reporting Persons have
filed as a "group". Nevertheless, the Reporting Persons hereby disclaim that
they are members of a "group" for purposes of Section 13(d) of the Securities
Exchange Act of 1934 or for any other purpose.
Page 10
<PAGE>
debt, equity, derivative securities and other financial instruments for the
benefit of the holders of its partnership, stock and other capital securities.
TGT is the sole general partner of TAP.
The name, residence or business address, present principal occupation or
employment, the name, principal business and address of any corporation or other
organization in which such employment is conducted and the citizenship of each
natural person that is a director or executive officer of TIC, TGT, Raptor Ltd.,
Tudor BVI or Upper Mill is set forth on Schedule I hereto and is incorporated by
reference herein.
During the last five years, none of the Reporting Persons, or to the best
knowledge and belief of the Reporting Persons, any of the individuals listed on
Schedule I hereto, has been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors) or has been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction as a
result of which any Reporting Person or any person listed on Schedule I was or
is subject to a judgment, decree or final order enjoining future violations of,
or prohibiting activities subject to, federal or state securities laws or
finding any violation of such law, except as follows:
On September 12, 1996, TIC settled a proceeding with the Securities and
Exchange Commission (the "SEC") relating to alleged violations of the "uptick
rule" in connection with certain sales of stock over a two day period in March
1994. Without admitting or denying the SEC's findings, TIC paid a civil penalty
of $800,000, and agreed not to violate the uptick rule in the future.
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
The shares of Common Stock beneficially owned by each of Raptor Ltd., Raptor
L.P., TAP, Tudor BVI and Upper Mill were acquired in open market purchases for
cash. The sources of the funds used to purchase the shares of Common Stock by
each of the Reporting Persons were (i) capital contributions to such Reporting
Person,(ii) the proceeds of transactions with respect to prior investments held
by such Reporting Persons and (iii) cash borrowed pursuant to margin loans with
Morgan Stanley & Co. Incorporated, which margin loans are secured by all of the
shares of Common Stock.
Page 11
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Item 4. Purpose of Transaction.
----------------------
Each of Raptor Ltd., Raptor L.P., TAP, Tudor BVI and Upper Mill initially
acquired the Common Stock beneficially owned by such Reporting Person for
investment purposes. Each of such Reporting Persons intends to continue to
evaluate their respective investments in Common Stock based on the Company's
financial condition, results of operations and prospects as well as other then
existing or anticipated facts and circumstances including general economic,
market and other financial conditions. Accordingly, each of the Reporting
Persons reserves the right to change its plans and intentions with respect to
its investment in securities of the Company at any time, as it deems
appropriate. In particular, each of the Reporting Persons may at any time and
from time to time (i) acquire additional shares of Common Stock, (ii) dispose of
Common Stock, or (iii) enter into privately negotiated derivative transactions
with institutional counterparties to hedge the market risk of some or all of its
positions in the Common Stock. There can be no assurance that any Reporting
Person will increase or decrease its investment in the Company or as to the
number of shares of Common Stock or derivative securities that may be bought or
sold in any such transactions.
Except as set forth in this Schedule 13D, none of the Reporting Persons
currently has any plans or proposals which relate to or would result in any of
the transactions, actions or events enumerated in paragraphs (a) through (j) of
the instructions to Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
------------------------------------
Attached hereto as Schedule II is a list of the transactions by each of the
Reporting Persons in Common Stock within the past sixty days.
Because TIC is the sole general partner of Raptor L.P. and provides investment
advisory services to Raptor Ltd., Raptor L.P., Tudor BVI and Upper Mill, TIC may
be deemed to beneficially own the shares of Common Stock owned by each of such
Reporting Persons. TGT, as the sole general partner of TAP, may be deemed to
beneficially own the shares of Common Stock owned by TAP. In addition, because
Mr. Jones owns a majority of the capital stock and voting securities of TIC and
indirectly owns a majority of the equity interests in TGT, Mr. Jones may be
deemed to beneficially own the shares of Common Stock deemed beneficially owned
by TIC and TGT.
Based on information provided by the Company that there were 8,777,682 shares
of Common Stock issued and outstanding as of February 9, 1998, each Reporting
Person beneficially owns (or, with respect to TIC, Mr. Jones and TGT, may be
deemed to beneficially own) the number and percentage of outstanding shares
Page 12
<PAGE>
of Common Stock listed in the responses to Items 11 and 13, respectively, of the
cover page filed herewith for such Reporting Person. In addition, the number of
shares of Common Stock beneficially owned (or, with respect to TIC, Mr. Jones
and TGT, which may be deemed beneficially owned) by each Reporting Person with
respect to which such Reporting Person (i) has sole voting power, (ii) shares
voting power, (iii) has sole dispositive power and (iv) shares dispositive power
are listed in the responses to Items 7, 8, 9 and 10, respectively, of the cover
page filed herewith for such Reporting Person. The voting and dispositive power
is reported as shared because each of Raptor Ltd., Raptor L.P., Tudor BVI and
Upper Mill has the power to remove TIC as its investment advisor or general
partner and because TAP has the power to remove TGT as its general partner. Each
of Raptor Ltd., Raptor L.P., TAP, Tudor BVI and Upper Mill expressly disclaim
beneficial ownership of the shares of Common Stock beneficially owned by any
other such Reporting Person and each of TIC, Mr. Jones and TGT disclaim
beneficial ownership of the Common Stock beneficially owned by Raptor Ltd.,
Raptor L.P., TAP, Tudor BVI, Upper Mill and, in the case of Mr. Jones, TIC and
TGT.
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 13
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this Schedule 13D is true, complete and
correct.
Dated: February 19, 1998
TUDOR INVESTMENT CORPORATION
By: \s\ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
\s\ Paul Tudor Jones, II
---------------------------
Paul Tudor Jones, II
THE RAPTOR GLOBAL FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: \s\ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
THE RAPTOR GLOBAL FUND L.P.
By: TUDOR INVESTMENT CORPORATION,
General Partner
By: \s\ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 14
<PAGE>
TUDOR ARBITRAGE PARTNERS L.P.
By: TUDOR GLOBAL TRADING LLC,
General Partner
By: \s\ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR GLOBAL TRADING LLC
By: \s\ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR BVI FUTURES, LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: \s\ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
THE UPPER MILL CAPITAL
APPRECIATION FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Sub-Investment Manager
By: \s\ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 15
<PAGE>
Schedule I
EXECUTIVE OFFICERS AND DIRECTORS
OF THE REPORTING PERSONS
I. TIC
The name, residence or business address, present principal occupation or
employment, the name, principal business and address of any corporation or other
organization in which such employment is conducted and the citizenship of each
executive officer or director of TIC is set forth below. Unless otherwise
indicated (i) the principal occupation or employment of such person is as an
executive officer or director of TIC, (ii) the business address of such person
is c/o TIC at the address of TIC set forth under Item 2 of this Schedule 13D,
(iii) such person is a citizen of the United States and (iv) to the knowledge of
the Reporting Persons, such person does not beneficially own and has not had any
transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- ----------------
Paul Tudor Jones, II* Chairman of the Board of Directors, Chief Executive
Officer of TIC.
Mark F. Dalton Director, President and Chief Operating Officer of TIC.
James J. Pallotta Director and Vice President of TIC.
David E. Allanson Director of TIC. Mr. Allanson trades in securities and
Citizen of United other financial instruments for Tudor Proprietary
Kingdom Trading, L.L.C. and certain investment funds advised by
Tudor Capital (U.K.), L.P., both of which are located at
The Upper Mill, Kingston Road, Ewell, Surrey KT17 2AF,
England.
Andrew S. Paul Director, Vice President, General Counsel and Corporate
Secretary of TIC.
Richard L. Fisher Director of TIC. Mr. Fisher is Vice President of
Investments and Acquisitions and a Managing Director of
Dunavant Enterprises, Inc., 3797 Getwell Road, Memphis,
TN 38118.
Mark Pickard Director, Vice President and Chief Financial Officer of
TIC.
Robert P. Forlenza Director and Vice President of TIC.
- --------------------
* See Item 5 of this Schedule 13D for a discussion of Mr. Jones' potential
beneficial ownership of Common Stock.
Page 16
<PAGE>
II. RAPTOR LTD.
The name, residence or business address, present principal occupation or
employment, the name, principal business and address of any corporation or other
organization in which such employment is conducted and the citizenship of each
executive officer or director of Raptor Ltd. is set forth below. To the
knowledge of the Reporting Persons, such person does not beneficially own and
has not had any transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- ----------------
Inter Caribbean Director of Raptor Ltd. The principal place of
Services Ltd. business of Inter Caribbean Services Ltd. is c/o
Incorporated in Curacao International Trust Company N.V. ("CITCO"),
British Virgin Kaya Flamboyan 9, Curacao, Netherlands Antilles.
Islands
Bernard A. Loze Director of Raptor Ltd. Chairman and Chief Executive
Citizen of France Officer of Loze et Associe, 43, Avenue Marceau, Paris
75116, France, which is a consulting firm that provides
financial and investment advice to international
clients.
Arpad A. Busson Director of Raptor Ltd. Chairman of European
Citizen of France Investment Managers, c/o Harney, Westwood & Riegels,
P.O. Box 71, Road Town, Tortola, British Virgin Islands,
which is a consulting and money management firm.
Jean-Pierre Jacquemoud Director of Raptor Ltd. Attorney,
Citizen of Switzerland Jacquemoud & Stanislas, 2, rue Bellow, Geneva 1206,
Switzerland.
Page 17
<PAGE>
III. TUDOR GLOBAL TRADING LLC
The name and present principal occupation or employment of each executive
officer of TGT is set forth below. Each of such persons holds identical titles
for TIC and TGT. The business address of such person is c/o TIC at the address
of TIC set forth under Item 2 of this Schedule 13D, each such person is a
citizen of the United States and to the knowledge of the Reporting Persons, such
person does not beneficially own and has not had any transactions in the Common
Stock.
Name Principal Occupation
- ---- --------------------
Paul Tudor Jones, II* Chairman of the Board of Directors, Chief Executive
Officer of TIC.
Mark F. Dalton Director, President and Chief Operating Officer of TIC.
James J. Pallotta Director and Vice President of TIC.
Andrew S. Paul Director, Vice President, General Counsel and Corporate
Secretary of TIC.
Mark Pickard Director, Vice President and Chief Financial Officer of
TIC.
Robert P. Forlenza Director and Vice President of TIC.
- --------------------------------
* See Item 5 of this Schedule 13D for a discussion of Mr. Jones' potential
beneficial ownership of common stock.
Page 18
<PAGE>
IV. TUDOR BVI
The name, residence or business address, present principal occupation or
employment, the name, principal business and address of any corporation or other
organization in which such employment is conducted and the citizenship of each
executive officer or director of Tudor BVI is set forth below. To the knowledge
of the Reporting Persons, the below listed persons neither currently
beneficially own nor have had any transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- -------------------------------
Inter Caribbean Director of Tudor BVI. See information under Raptor
Services Ltd. Ltd.
David P. d'Abrumenil Director of Tudor BVI. Chairman,
Citizen of United Lionspring Enterprises Limited,
Kingdom 36 John Street, London WC1N 2AT, England, which is a
financial consulting firm.
Jean-Pierre Jacquemoud Director of Tudor BVI. See information under Raptor
Ltd.
Bernard A. Loze Director of Tudor BVI. See information under Raptor
Ltd.
Arpad A. Busson Director of Tudor BVI. See information under Raptor
Ltd.
Karl-Erbo G. Kageneck Director of Tudor BVI. Attorney,
Citizen of Germany TMW/AG, Wittelsbacher Platz 1, Munich Germany 80333
Page 19
<PAGE>
V. UPPER MILL
The name, residence or business address, present principal occupation or
employment, the name, principal business and address of any corporation or other
organization in which such employment is conducted and the citizenship of each
executive officer or director of Upper Mill is set forth below. To the knowledge
of the Reporting Persons, the below listed persons neither currently
beneficially own nor have had any transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- -------------------------------
Inter Caribbean Director of Upper Mill. See information
Services Ltd. under Raptor Ltd.
Jean-Pierre Jacquemoud Director of Upper Mill. See information under Raptor
Ltd.
Arpad A. Busson Director of Upper Mill. See information under Raptor
Ltd.
Karl-Erbo G. Kageneck Director of Upper Mill. See information under Tudor BVI.
Anthony J. Stocks Director of Upper Mill. Managing Director Curacao
Citizen of United International Trust Company N.V., Kaya Flamboyan 9,
Kingdom Curacao, Netherlands Antilles, which provides
administrative and other services to investment funds.
Page 20
<PAGE>
Schedule II
TRANSACTIONS
All shares of Common Stock were acquired in connection with the Exchange.
Tudor BVI
- -----------
Date Transaction # Shares $/Share
- ---- ----------- -------- -------
1/29/98 Purchase 38,500 $85.4375
1/29/98 Purchase 300 $84.7500
1/29/98 Purchase 3,200 $85.7500
1/30/98 Purchase 300 $86.0000
1/30/98 Purchase 1,600 $86.1250
2/3/98 Purchase 3,700 $88.0769
2/3/98 Purchase 7,100 $88.2500
2/3/98 Purchase 13,600 $88.0988
2/4/98 Purchase 6,600 $88.2565
2/5/98 Purchase 28,500 $88.4375
2/5/98 Purchase 2,800 $88.5000
2/6/98 Purchase 7,100 $89.0625
2/6/98 Purchase 4,300 $89.1667
2/9/98 Purchase 400 $88.8750
2/9/98 Purchase 2,500 $88.9375
2/10/98 Purchase 2,900 $87.9375
2/10/98 Purchase 17,100 $87.9479
2/11/98 Purchase 11,300 $89.4375
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 151,800
Raptor L.P.
- -----------
Date Transaction # Shares $/Share
- ---- ----------- --------- -------
1/29/98 Purchase 18,800 $85.4375
1/29/98 Purchase 100 $84.7500
1/29/98 Purchase 1,600 $85.7500
1/30/98 Purchase 200 $86.0000
1/30/98 Purchase 800 $86.1250
2/3/98 Purchase 1,800 $88.0769
2/3/98 Purchase 3,500 $88.2500
2/3/98 Purchase 6,500 $88.0988
2/4/98 Purchase 3,200 $88.2565
2/5/98 Purchase 13,900 $88.4375
2/5/98 Purchase 1,400 $88.5000
2/6/98 Purchase 3,500 $89.0625
2/6/98 Purchase 2,100 $89.1667
2/9/98 Purchase 100 $88.8750
2/9/98 Purchase 1,200 $88.9375
2/10/98 Purchase 1,400 $87.9375
2/10/98 Purchase 8,300 $87.9479
2/11/98 Purchase 5,600 $89.4375
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 74,000
Page 21
<PAGE>
TAP
- -----------
Date Transaction # Shares $/Share
- ---- ----------- -------- -------
1/29/98 Purchase 6,500 $85.4375
1/29/98 Purchase 100 $84.7500
1/29/98 Purchase 500 $85.7500
1/30/98 Purchase 100 $86.0000
1/30/98 Purchase 300 $86.1250
2/2/98 Purchase 4,000 $87.2583
2/3/98 Purchase 1,100 $88.0769
2/3/98 Purchase 2,100 $88.2500
2/3/98 Purchase 5,300 $88.0988
2/4/98 Purchase 1,900 $88.2565
2/5/98 Purchase 8,300 $88.4375
2/5/98 Purchase 900 $88.5000
2/6/98 Purchase 2,100 $89.0625
2/6/98 Purchase 1,200 $89.1667
2/9/98 Purchase 700 $88.9375
2/10/98 Purchase 900 $87.9375
2/10/98 Purchase 5,000 $87.9479
2/11/98 Purchase 3,300 $89.4375
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 44,300
Raptor Ltd.
- -----------
Date Transaction # Shares $/Share
- ---- ----------- -------- -------
1/29/98 Purchase 56,200 $85.4375
1/29/98 Purchase 500 $84.7500
1/29/98 Purchase 4,700 $85.7500
1/30/98 Purchase 400 $86.0000
1/30/98 Purchase 2,300 $86.1250
2/3/98 Purchase 5,400 $88.0769
2/3/98 Purchase 10,400 $88.2500
2/3/98 Purchase 20,100 $88.0988
2/4/98 Purchase 9,600 $88.2565
2/5/98 Purchase 41,600 $88.4375
2/5/98 Purchase 4,100 $88.5000
2/6/98 Purchase 10,400 $89.0625
2/6/98 Purchase 6,200 $89.1667
2/9/98 Purchase 400 $88.8750
2/9/98 Purchase 3,600 $88.9375
2/10/98 Purchase 4,000 $87.9375
2/10/98 Purchase 25,000 $87.9479
2/11/98 Purchase 16,800 $89.4375
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 221,700
Page 22
<PAGE>
Upper Mill
- -----------
Date Transaction # Shares $/Share
- ---- ----------- -------- -------
2/2/98 Purchase 11,000 $87.2583
2/3/98 Purchase 1,000 $88.0769
2/3/98 Purchase 1,900 $88.2500
2/3/98 Purchase 4,500 $88.0988
2/4/98 Purchase 1,800 $88.2565
2/5/98 Purchase 7,700 $88.4375
2/5/98 Purchase 800 $88.5000
2/6/98 Purchase 1,900 $89.0625
2/6/98 Purchase 1,200 $89.1667
2/9/98 Purchase 100 $88.8750
2/9/98 Purchase 700 $88.9375
2/10/98 Purchase 800 $87.9375
2/10/98 Purchase 4,600 $87.9479
2/11/98 Purchase 3,000 $89.4375
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 41,000
Page 23
