<PAGE>
-----------------------------
OMB APPROVAL
-----------------------------
OMB Number:3235-0145
Expires: November 30, 1999
Estimated average burden
hours per response. . . 14.90
-----------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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. _________)1
DSP Communications, Inc.
(Name of Issuer)
Common Stock, $.001 par value
(Title of Class of Securities)
23332K106
(CUSIP Number)
Mark C. Wehrly
Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(415) 421-2132
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 16, 1999
(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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
Note. Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See Rule
13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
Page 1 of 46 Pages
Exhibit Index Found on Page 45
_____________________
1 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 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 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).
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Partners, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
WC, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
WC
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners II, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
WC
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners III, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
WC
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tinicum Partners, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
WC, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Management, L.L.C.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IA, OO
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Partners, L.L.C.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
OO
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Enrique H. Boilini
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Argentina
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David I. Cohen
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
South Africa
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Joseph F. Downes
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Duhamel
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Fleur E. Fairman
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jason M. Fish
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 14 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Andrew B. Fremder
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 15 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard B. Fried
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 16 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Mellin
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 17 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Stephen L. Millham
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 18 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Meridee A. Moore
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 19 of 46 Pages
<PAGE>
13D
===============================
CUSIP No. 23332K106
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas F. Steyer
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of 0
Shares, which is 0% of the class of securities. The reporting
person on this cover page, however, may be deemed a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 SOURCE OF FUNDS*
AF, OO
- ---------======================================================================
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
- ---------======================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------=========================================================
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- ----------------------=========================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- ---------======================================================================
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ---------======================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- ---------======================================================================
14 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 20 of 46 Pages
<PAGE>
The Reporting Persons are filing this Schedule 13D to reflect two events.
First, on November 16, 1999, the Reporting Persons acquired beneficial ownership
of more than 5% of the outstanding common shares, par value $0.01 (the "Shares")
of DSP Communications, Inc. (the "Company"). On such date, certain of the
Reporting Persons owned, in aggregate, (i) 4.8% of the outstanding Shares of the
Company and (ii) certain call options to purchase an additional 0.3% of the
outstanding Shares of the Company at a price of $30.00 per Share (the "Call
Options"). See Section 5 and Schedules A-F below for further information
regarding the Reporting Persons' beneficial ownership of the Shares and the Call
Options.
Second, on November 18, 1999 (the "Effective Date"), all of the Reporting
Persons' Shares were converted into the right to receive $36 per share pursuant
to the consummation of the merger (the "Merger ") between the Company and CWC
Acquisition Corporation ("CWC") provided for in the Agreement and Plan of Merger
among CWC, the Company and Intel Corporation dated as of October 13, 1999 (the
"Merger Agreement"), filed as Exhibit 2 to the Company's Schedule 14D-9
Solicitation/Recommendation Statement filed with the Securities and Exchange
Commission on October 20, 1999, as amended. For further information regarding
the Merger, see the Merger Agreement.
Item 1. Security And Issuer.
This statement relates to shares of Common Stock, par value $.001 per
share, of DSP Communications, Inc. The Company's principal offices are located
at 20300 Stevens Creek Boulevard, Cupertino, California.
Item 2. Identity And Background.
(a) This statement is filed by the entities and persons listed below, all
of whom together are referred to herein as the "Reporting Persons."
The Partnerships
Page 21 of 46 Pages
<PAGE>
(i) Farallon Capital Partners, L.P., a California limited
partnership ("FCP"), with respect to the Shares of which it is
the beneficial holder;
(ii) Farallon Capital Institutional Partners, L.P., a California
limited partnership ("FCIP"), with respect to the Shares of
which it is the beneficial holder;
(iii) Farallon Capital Institutional Partners II, L.P., a California
limited partnership ("FCIP II"), with respect to the Shares of
which it is the beneficial holder;
(iv) Farallon Capital Institutional Partners III, L.P., a Delaware
limited partnership ("FCIP III"), with respect to the Shares
of which it is the beneficial holder; and
(v) Tinicum Partners, L.P., a New York limited partnership
("Tinicum"), with respect to the Shares of which it is the
beneficial holder; and
FCP, FCIP, FCIP II, FCIP III and Tinicum are together referred to
herein as the "Partnerships."
The Management Company
(vii) Farallon Capital Management, L.L.C., a Delaware limited
liability company (the "Management Company"), with respect to
the Shares of which certain accounts managed by the Management
Company (the "Managed Accounts") are the beneficial holder.2
The General Partner Of The Partnerships
(viii)Farallon Partners, L.L.C., a Delaware limited liability
company which is the general partner of each of the
Partnerships (the "General Partner"), with respect to the
Shares of which each of the Partnerships is the beneficial
holder.
The Managing Members Of The General Partner And The Management Company
(ix) The following eleven persons who are managing members of
both the General Partner and the Management Company, with
respect to the Shares of which the Partnerships and the
Managed Accounts are the beneficial holder: Enrique H.
Boilini ("Boilini"), David I. Cohen ("Cohen"), Joseph F.
______________
2 Of the Shares reported by the Management Company on behalf of the Managed
Accounts, 0 Shares (equal to approximately 0% of the total Shares currently
outstanding) are held by The Absolute Return Fund of The Common Fund, a
non-profit corporation whose principal address is 450 Post Road East, Westport,
Connecticut 06881.
Page 22 of 46 Pages
<PAGE>
Downes ("Downes"), William F. Duhamel ("Duhamel"), Jason M.
Fish ("Fish"), Andrew B. Fremder ("Fremder"), Richard B.
Fried ("Fried"), William F. Mellin ("Mellin"), Stephen L.
Millham ("Millham"), Meridee A. Moore ("Moore") and Thomas
F. Steyer ("Steyer"); and
(x) the twelfth managing member of the General Partner, Fleur E.
Fairman ("Fairman"), with respect to the Shares of which the
Partnerships are the beneficial holder.
Boilini, Cohen, Downes, Duhamel, Fairman, Fish, Fremder, Fried, Mellin,
Millham, Moore, and Steyer are together referred to herein as the "Individual
Reporting Persons."
(b) The address of the principal business and principal office of (i) the
Partnerships, the General Partner and the Management Company is One Maritime
Plaza, Suite 1325, San Francisco, California 94111 and (ii) each of the
Individual Reporting Persons is set forth in Annex 1 hereto.
(c) The principal business of each of the Partnerships is that of a
private investment fund engaging in the purchase and sale of investments for its
own account. The principal business of the General Partner is to act as the
general partner of the Partnerships. The principal business of the Management
Company is that of a registered investment adviser. The principal business of
each of the Individual Reporting Persons is set forth in Annex 1 hereto.
(d) None of the Partnerships, the Management Company, the General Partner
or any of the Individual Reporting Persons has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) None of the Partnerships, the Management Company, the General Partner
or any of the Individual Reporting Persons has, during the last five years, been
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
Page 23 of 46
<PAGE>
(f) The citizenship of each of the Partnerships, the General Partner and
the Management Company is set forth above. Each of the Individual Reporting
Persons is a United States citizen other than (i) Enrique H. Boilini who is an
Argentinean citizen and (ii) David I. Cohen who is a South African citizen.
The other information required by Item 2 relating to the identity and
background of the Reporting Persons is set forth in Annex 1 hereto.
Item 3. Source And Amount Of Funds And Other Consideration.
The net investment cost (including commissions) for the Shares acquired by
each of the Partnerships and Managed Accounts is set forth below:
Entity Shares Held Approximate Net Investment Cost3
FCP 420,700 $14,782,190.05
FCIP 540,600 $18,992,628.96
FCIP II 93,100 $3,271,431.34
FCIP III 134,100 $4,712,071.41
Tinicum 41,000 $1,440,590.43
Managed
Accounts 814,600 $28,622,954.55
The consideration for such acquisitions was obtained as follows: (i) with
respect to FCIP, FCIP II and FCIP III, from working capital; (ii) with respect
to FCP and Tinicum, from working capital, and/or from borrowings pursuant to
margin accounts maintained in the ordinary course of business by FCP and Tinicum
at Goldman, Sachs & Co.; and (iii) with respect to the Managed Accounts, from
the working capital of each Managed Account and/or from borrowings pursuant to
margin accounts maintained in the ordinary course of business by some of the
Managed Accounts at Goldman, Sachs & Co. FCP, Tinicum and some of the Managed
Accounts hold certain securities
___________
3 This amount includes the consideration for the acquisition of the Call
Options purchased by such Reporting Persons (at a price (including commissions)
of $5.41 per Call Option). For further information regarding the terms of the
Call Options and the number of Call Options acquired by each Reporting Person,
see Schedules A-F of the Schedule 13D.
Page 24 of 46
<PAGE>
in their respective margin accounts at Goldman, Sachs & Co., and the accounts
may from time to time have debit balances. It is not possible to determine the
amount of borrowings, if any, used to acquire the Shares.
Item 4. Purpose Of The Transaction.
The purpose of the acquisition of the Shares was for investment, and the
acquisitions of the Shares by each of the Partnerships and the Managed Accounts
were made in the ordinary course of business and were not made for the purpose
of acquiring control of the Company.
Although no Reporting Person has any specific plan or proposal to acquire
or dispose of Shares, consistent with its investment purpose, each Reporting
Person at any time and from time to time may acquire additional Shares or
dispose of any or all of its Shares depending upon an ongoing evaluation of the
investment in the Shares, prevailing market conditions, other investment
opportunities, liquidity requirements of the Reporting Person and/or other
investment considerations. No Reporting Person has made a determination
regarding a maximum or minimum number of Shares which it may hold at any point
in time.
Also, consistent with their investment intent, the Reporting Persons may
engage in communications with one or more shareholders of the Company, one or
more officers of the Company and/or one or more members of the board of
directors of the Company and/or potential investors in the Company regarding the
Company, including but not limited to its operations.
Except to the extent the foregoing may be deemed a plan or proposal, none
of the Reporting Persons has any plans or proposals which relate to, or could
result in, any of the matters referred to in paragraphs (a) through (j),
inclusive, of the instructions to Item 4 of Schedule 13D. The Reporting Persons
may, at any time and from time to time, review or reconsider their position
and/or change their purpose and/or formulate plans or proposals with respect
thereto.
Page 25 of 46
<PAGE>
Item 5. Interest In Securities Of The Issuer.
(a) The Partnerships
(a),(b) The information set forth in Rows 7 through 13 of the cover
page hereto for each Partnership is incorporated herein by
reference for each such Partnership. The percentage amount
set forth in Row 13 of each cover page filed herewith as
well as Footnote Two hereto is calculated based upon the
40,461,426 Shares outstanding as of November 9, 1999 as
reported by the Company in its Quarterly Report on Form 10-Q
for the period ended September 30, 1999 filed with the
Securities and Exchange Commission on November 15, 1999.
(c) The trade dates, number of Shares purchased or transferred
and the price per Share (including commissions) for all
transactions of the shares by the Partnerships in the past
60 days are set forth on Schedules A-E hereto and are
incorporated herein by reference. All of such transactions
were either open-market transactions prior to the Merger or
consummated pursuant to the Merger Agreement described
above. The trade dates, number of call options purchased or
exercised and the price per call option (including
commissions) for all purchases of call options by the
Partnerships in the past 60 days are set forth on Schedules
A-E hereto and are incorporated herein by reference. All of
such transactions were open-market transactions.
(d) The General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds
of the sale of the Shares. The Individual Reporting Persons
are managing members of the General Partner.
(e) As of November 18, 1999, the Partnerships are not the
beneficial holder of any Shares.
(b) The Management Company
(a),(b) The information set forth in Rows 7 through 13 of the cover
page hereto for the Management Company is incorporated
herein by reference.
(c) The trade dates, number of Shares purchased or transferred
and the price per Share (including commissions) for all
transactions of the shares by the Management Company on
behalf of the Managed Accounts in the past 60 days are set
forth on Schedule F hereto and are incorporated herein by
reference. All of such transactions were either open-market
transactions prior to the Merger or consummated pursuant to
the Merger Agreement described above. The trade dates,
number of call options purchased or exercised and the price
per call option (including commissions) for all
Page 26 of 46
<PAGE>
purchases of call options by the Management Company on
behalf of the Managed Accounts in the past 60 days are set
forth on Schedule F hereto and are incorporated herein by
reference. All of such transactions were open-market
transactions.
(d) The Management Company, as an investment adviser, has the
power to direct the disposition of the proceeds of the sale
of the Shares held by the Managed Accounts. The Individual
Reporting Persons other than Fairman are managing members of
the Management Company.
(e) As of November 18, 1999, the Management Company is not the
beneficial holder of any Shares.
(c) The General Partner
(a),(b) The information set forth in Rows 7 through 13 of the cover
page hereto for the General Partner is incorporated herein
by reference.
(c) None.
(d) The General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds
of the sale of the Shares. The Individual Reporting Persons
are managing members of the General Partner.
(e) As of November 18, 1999, the General Partner is not the
beneficial holder of any Shares.
(d) The Individual Reporting Persons
(a),(b) The information set forth in Rows 7 through 13 of the cover
page hereto for each Individual Reporting Person is
incorporated herein by reference for each such Individual
Reporting Person.
(c) None.
(d) The General Partner has the power to direct the affairs of
the Partnerships, including the disposition of the proceeds
of the sale of the Shares. The Management Company, as an
investment adviser, has the power to direct the disposition
of the proceeds of the sale of the Shares held by the
Managed Accounts. The Individual Reporting Persons are
managing members of the General Partner. The Individual
Reporting Persons other than Fairman are managing members of
the Management Company.
(e) As of November 18, 1999, the Individual Reporting Persons
are not the beneficial holder of any Shares.
Page 27 of 46
<PAGE>
The Shares reported hereby for the Partnerships are owned directly by the
Partnerships and those reported by the Management Company on behalf of the
Managed Accounts are owned directly by the Managed Accounts. The General
Partner, as general partner to the Partnerships, may be deemed to be the
beneficial owner of all such Shares owned by the Partnerships. The Management
Company, as investment adviser to the Managed Accounts, may be deemed to be the
beneficial owner of all such Shares owned by the Managed Accounts. The eleven
Individual Reporting Persons who are managing members of both the General
Partner and the Management Company may each be deemed to be the beneficial owner
of all such Shares held by the Partnerships and the Managed Accounts. Fairman,
as a managing member of only the General Partner, may be deemed to be the
beneficial owner of all such Shares held by the Partnerships. Each of the
Management Company, the General Partner and the Individual Reporting Persons
hereby disclaims any beneficial ownership of any such Shares.
Item 6. Contracts, Arrangements, Understandings Or
Relationships With Respect To Securities Of The Issuer.
Except as described above, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the Reporting Persons
or between such persons and any other person with respect to any securities of
the Company, including but not limited to transfer or voting of any securities
of the Company, finder's fees, joint ventures, loan or option arrangements, puts
or calls, guarantees of profits, divisions of profits or loss, or the giving or
withholding of proxies.
Item 7. Materials To Be Filed As Exhibits.
There is filed herewith as Exhibit 1 a written agreement relating to the
filing of joint acquisition statements as required by Rule 13d-1(f)(1) under the
Securities Exchange Act of 1934, as amended.
Page 28 of 46
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: November 24, 1999
/s/ Thomas F. Steyer
----------------------------------------
FARALLON PARTNERS, L.L.C.,
on its own behalf and as General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
And TINICUM PARTNERS, L.P.,
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
----------------------------------------
Thomas F. Steyer, individually and as attorney-in-fact for
each of Enrique H. Boilini, David I. Cohen, Joseph F.
Downes, William F. Duhamel, Fleur E. Fairman, Jason M. Fish,
Andrew B. Fremder, Richard B. Fried, William F. Mellin,
Stephen L. Millham, and Meridee A. Moore.
The Powers of Attorney, each executed by Boilini, Cohen, Downes, Fairman, Fish,
Fremder, Mellin, Millham and Moore authorizing Steyer to sign and file this
Schedule 13D on each person's behalf, which were filed with Amendment No. 1 to
the Schedule 13D filed with the Securities and Exchange Commission on September
26, 1997, by such Reporting Persons with respect to the Common Stock of Sphere
Drake Holdings Limited, are hereby incorporated by reference. The Powers of
Attorney executed by Duhamel and Fried authorizing Steyer to sign and file this
Schedule 13D on each person's behalf, which were filed with Amendment No. 1 to
the Schedule 13G filed with the Securities and Exchange Commission on January
13, 1999, by such Reporting Persons with respect to the Callable Class A Common
Shares of CliniChem Development Inc., are hereby incorporated by reference.
Page 29 of 48
<PAGE>
ANNEX 1
Set forth below with respect to the Management Company and the General
Partner is the following information: (a) name; (b) address; (c) principal
business; (d) state of organization; and (e) controlling persons. Set forth
below with respect to each managing member of the Management Company and the
General Partner is the following: (a) name; (b) business address; (c) principal
occupation; and (d) citizenship.
1. The Management Company
(a) Farallon Capital Management, L.L.C.
(b) One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Serves as investment adviser to various managed accounts
(d) Delaware limited liability company
(e) Managing Members: Thomas F. Steyer, Senior Managing Member;
Enrique H. Boilini, David I. Cohen, Joseph F. Downes, William F.
Duhamel, Jason M. Fish, Andrew B. Fremder, Richard B. Fried,
William F. Mellin, Stephen L. Millham and Meridee A. Moore,
Managing Members.
2. The General Partner
(a) Farallon Partners, L.L.C.
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Serves as general partner to investment partnerships
(d) Delaware limited liability company
(e) Managing Members: Thomas F. Steyer, Senior Managing Member;
Enrique H. Boilini, David I. Cohen, Joseph F. Downes, William F.
Duhamel, Fleur E. Fairman, Jason M. Fish, Andrew B. Fremder,
Richard B. Fried, William F. Mellin, Stephen L. Millham and
Meridee A. Moore, Managing Members.
3. The Individual Reporting Persons
Except as stated below, each of the Individual Reporting Persons is a
United States citizen whose business address is c/o Farallon Capital Management,
L.L.C., One Maritime Plaza, Suite 1325, San Francisco, California 94111. Enrique
H. Boilini is an Argentinean citizen whose business address is c/o Farallon
Capital Management, L.L.C., 75 Holly Hill Lane, Greenwich, Connecticut 06830.
David I. Cohen is a South African citizen. The principal occupation of Thomas F.
Steyer is serving as senior managing member of the Management Company and the
General Partner. The principal occupation of Fairman is serving as a managing
member of the General Partner. The principal occupation of each other Individual
Reporting Person is serving as a managing member of both the Management Company
and the General Partner.
Page 30 of 46
<PAGE>
SCHEDULE A
FARALLON CAPITAL PARTNERS, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
10/14/99 30,000(P) $35.10
10/14/99 39,700(P) $35.02
10/14/99 60,000(P) $35.16
10/14/99 6,000(P) $34.94
10/15/99 32,000(P) $34.95
10/15/99 5,000(P) $34.93
10/18/99 44,000(P) $35.04
10/19/99 4,500(P) $35.02
10/21/99 22,500(P) $35.36
10/22/99 4,500(P) $35.33
10/25/99 4,400(P) $35.33
10/26/99 8,400(P) $35.33
10/27/99 16,500(P) $35.31
10/28/99 11,000(P) $35.24
10/28/99 6,400(P) $35.24
11/1/99 44,700(P) $35.04
11/1/99 12,000(P) $35.11
11/2/99 7,000(P) $34.99
11/2/99 15,600(P) $34.82
11/3/99 2,400(P) $34.86
11/10/99 12,600(P) $35.40
11/11/99 10,400(P) $35.83
Page 31 of 46
<PAGE>
FARALLON CAPITAL PARTNERS, L.P. (Continued)
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
11/17/99 21,100(P) **
11/18/99 420,700(T)4 N/A
** All of such Shares were acquired pursuant to the exercise of the Call
Options held by the Reporting Person. Each such option entitled the holder
to acquire 100 Shares at a price of $30.00 per Share. The Reporting Person
acquired such options as listed below.
NO. OF CALL OPTIONS PRICE
TRADE DATE PURCHASED PER CALL OPTION
10/14/99 200 $5.41
10/20/99 11 $5.41
_________________
4 On the Effective Date, pursuant to the consummation of the Merger between
the Company and CWC, the Reporting Persons' Shares were converted into the right
to receive $36.00 per share.
Page 32 of 46
<PAGE>
SCHEDULE B
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
10/14/99 45,000(P) $35.10
10/14/99 59,600(P) $35.02
10/14/99 90,000(P) $35.16
10/14/99 9,000(P) $34.94
10/15/99 48,000(P) $34.95
10/15/99 7,500(P) $34.93
10/18/99 83,000(P) $35.04
10/19/99 8,500(P) $35.02
10/21/99 42,500(P) $35.36
10/22/99 8,400(P) $35.33
10/25/99 5,500(P) $35.33
10/26/99 9,700(P) $35.33
10/27/99 18,000(P) $35.31
10/28/99 10,000(P) $35.24
10/28/99 5,700(P) $35.24
11/1/99 26,000(P) $35.04
11/1/99 7,000(P) $35.11
11/2/99 3,500(P) $34.99
11/2/99 7,800(P) $34.82
11/3/99 1,100(P) $34.86
11/10/99 8,100(P) $35.40
11/11/99 3,200(P) $35.83
Page 33 of 46
<PAGE>
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P. (Continued)
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
11/17/99 33,500(P) **
11/18/99 540,600(T)5 N/A
** All of such Shares were acquired pursuant to the exercise of the Call
Options held by the Reporting Person. Each such option entitled the holder
to acquire 100 Shares at a price of $30.00 per Share. The Reporting Person
acquired such options as listed below.
NO. OF CALL OPTIONS PRICE
TRADE DATE PURCHASED PER CALL OPTION
10/14/99 300 $5.41
10/18/99 5 $5.41
10/19/99 4 $5.41
10/20/99 26 $5.41
_________________
5 On the Effective Date, pursuant to the consummation of the Merger between
the Company and CWC, the Reporting Persons' Shares were converted into the right
to receive $36.00 per share.
Page 34 of 46
<PAGE>
SCHEDULE C
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
10/14/99 6,000(P) $35.10
10/14/99 7,900(P) $35.02
10/14/99 12,000(P) $35.16
10/14/99 1,200(P) $34.94
10/15/99 6,400(P) $34.95
10/15/99 1,000(P) $34.93
10/18/99 9,800(P) $35.04
10/19/99 1,000(P) $35.02
10/21/99 5,000(P) $35.36
10/22/99 1,000(P) $35.33
10/25/99 900(P) $35.33
10/26/99 2,200(P) $35.33
10/27/99 3,800(P) $35.31
10/28/99 3,000(P) $35.24
10/28/99 1,700(P) $35.24
11/1/99 11,200(P) $35.04
11/1/99 3,000(P) $35.11
11/2/99 1,700(P) $34.99
11/2/99 3,900(P) $34.82
11/3/99 600(P) $34.86
11/10/99 3,200(P) $35.40
11/11/99 2,400(P) $35.83
Page 35 of 46
<PAGE>
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P. (Continued)
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
11/17/99 4,200(P) **
11/18/99 93,100(T)6 N/A
** All of such Shares were acquired pursuant to the exercise of the Call
Options held by the Reporting Person. Each such option entitled the holder
to acquire 100 Shares at a price of $30.00 per Share. The Reporting Person
acquired such options as listed below.
NO. OF CALL OPTIONS PRICE
TRADE DATE PURCHASED PER CALL OPTION
10/14/99 40 $5.41
10/20/99 2 $5.41
_________________
6 On the Effective Date, pursuant to the consummation of the Merger between
the Company and CWC, the Reporting Persons' Shares were converted into the right
to receive $36.00 per share.
Page 36 of 46
<PAGE>
SCHEDULE D
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
10/14/99 12,000(P) $35.10
10/14/99 15,900(P) $35.02
10/14/99 24,000(P) $35.16
10/14/99 2,400(P) $34.94
10/15/99 6,400(P) $34.95
10/15/99 1,000(P) $34.93
10/18/99 9,800(P) $35.04
10/19/99 1,000(P) $35.02
10/21/99 5,000(P) $35.36
10/22/99 1,000(P) $35.33
10/25/99 900(P) $35.33
10/26/99 2,700(P) $35.33
10/27/99 4,500(P) $35.31
10/28/99 3,000(P) $35.24
10/28/99 1,700(P) $35.24
11/1/99 14,900(P) $35.04
11/1/99 4,000(P) $35.11
11/2/99 2,300(P) $34.99
11/2/99 5,200(P) $34.82
11/3/99 800(P) $34.86
11/10/99 4,200(P) $35.40
11/11/99 3,200(P) $35.83
Page 37 of 46
<PAGE>
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P. (Continued)
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
11/17/99 8,200(P) **
11/18/99 134,100(T)7 N/A
** All of such Shares were acquired pursuant to the exercise of the Call Options
held by the Reporting Person. Each such option entitled the holder to acquire
100 Shares at a price of $30.00 per Share. The Reporting Person acquired such
options as listed below.
NO. OF CALL OPTIONS PRICE
TRADE DATE PURCHASED PER CALL OPTION
10/14/99 80 $5.41
10/20/99 2 $5.41
_________________
7 On the Effective Date, pursuant to the consummation of the Merger between
the Company and CWC, the Reporting Persons' Shares were converted into the right
to receive $36.00 per share.
Page 38 of 46
<PAGE>
SCHEDULE E
TINICUM PARTNERS, L.P.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
10/14/99 3,000(P) $35.10
10/14/99 4,000(P) $35.02
10/14/99 6,000(P) $35.16
10/14/99 600(P) $34.94
10/15/99 3,200(P) $34.95
10/15/99 500(P) $34.93
10/18/99 4,900(P) $35.04
10/19/99 500(P) $35.02
10/21/99 2,500(P) $35.36
10/22/99 500(P) $35.33
10/25/99 500(P) $35.33
10/26/99 900(P) $35.33
10/27/99 1,500(P) $35.31
10/28/99 1,000(P) $35.24
10/28/99 600(P) $35.24
11/1/99 3,700(P) $35.04
11/1/99 1,000(P) $35.11
11/2/99 600(P) $34.99
11/2/99 1,300(P) $34.82
11/3/99 200(P) $34.86
11/10/99 1,100(P) $35.40
11/11/99 800(P) $35.83
Page 39 of 46
<PAGE>
TINICUM PARTNERS, L.P. (Continued)
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
11/17/99 2,100(P) **
11/18/99 41,000(T)8 N/A
** All of such Shares were acquired pursuant to the exercise of the Call
Options held by the Reporting Person. Each such option entitled the holder
to acquire 100 Shares at a price of $30.00 per Share. The Reporting Person
acquired such options as listed below.
NO. OF CALL OPTIONS PRICE
TRADE DATE PURCHASED PER CALL OPTION
10/14/99 20 $5.41
10/20/99 1 $5.41
_________________
8 On the Effective Date, pursuant to the consummation of the Merger between
the Company and CWC, the Reporting Persons' Shares were converted into the right
to receive $36.00 per share.
Page 40 of 46
<PAGE>
SCHEDULE F
FARALLON CAPITAL MANAGEMENT, L.L.C.
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
10/14/99 47,200(P) $35.10
10/14/99 62,600(P) $35.02
10/14/99 94,500(P) $35.16
10/14/99 9,400(P) $34.94
10/15/99 56,800(P) $34.95
10/15/99 8,900(P) $34.93
10/18/99 81,700(P) $35.04
10/19/99 8,400(P) $35.02
10/21/99 41,200(P) $35.36
10/22/99 8,300(P) $35.33
10/25/99 9,200(P) $35.33
10/26/99 17,200(P) $35.33
10/27/99 25,400(P) $35.31
10/28/99 18,500(P) $35.24
10/28/99 10,600(P) $35.24
11/1/99 74,500(P) $35.04
11/1/99 20,000(P) $35.11
11/2/99 12,700(P) $34.99
11/2/99 28,300(P) $34.82
11/3/99 4,400(P) $34.86
11/10/99 21,100(P) $35.40
11/11/99 18,200(P) $35.83
Page 41 of 46
<PAGE>
FARALLON CAPITAL MANAGEMENT, L.L.C. (Continued)
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
10/14/99 800(P) $35.10
10/14/99 1,000(P) $35.02
10/14/99 1,500(P) $35.16
10/14/99 200(P) $34.94
10/15/99 800(P) $34.95
10/15/99 100(P) $34.93
10/18/99 1,200(P) $35.04
10/19/99 100(P) $35.02
10/21/99 1,300(P) $35.36
10/22/99 300(P) $35.33
10/25/99 200(P) $35.33
10/26/99 400(P) $35.33
10/27/99 800(P) $35.31
10/28/99 500(P) $35.24
10/28/99 300(P) $35.24
11/1/99 1,900(P) $35.04
11/1/99 500(P) $35.11
11/2/99 100(P) $34.99
11/2/99 300(P) $34.82
11/3/99 100(P) $34.86
11/10/99 300(P) $35.40
11/11/99 200(P) $35.83
Page 42 of 46
<PAGE>
FARALLON CAPITAL MANAGEMENT, L.L.C. (Continued)
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
10/14/99 6,000(P) $35.10
10/14/99 7,900(P) $35.02
10/14/99 12,000(P) $35.16
10/14/99 1,200(P) $34.94
10/15/99 6,400(P) $34.95
10/15/99 1,000(P) $34.93
10/18/99 9,800(P) $35.04
10/19/99 1,000(P) $35.02
10/21/99 5,000(P) $35.36
10/22/99 1,000(P) $35.33
10/25/99 1,400(P) $35.33
10/26/99 2,700(P) $35.33
10/27/99 4,500(P) $35.31
10/28/99 3,000(P) $35.24
10/28/99 1,700(P) $35.24
11/1/99 9,300(P) $35.04
11/1/99 2,500(P) $35.11
11/2/99 1,200(P) $34.99
11/2/99 2,600(P) $34.82
11/3/99 400(P) $34.86
11/10/99 2,100(P) $35.40
11/11/99 1600P) $35.83
Page 43 of 46
<PAGE>
FARALLON CAPITAL MANAGEMENT, L.L.C. (Continued)
NO. OF SHARES
PURCHASED (P) PRICE
TRADE DATE OR TRANSFERRED (T) PER SHARE
11/17/99 33,500(P) **
11/17/99 600(P) **
11/17/99 ,200(P) **
11/18/99 814,600(T)9 N/A
** All of such Shares were acquired pursuant to the exercise of the Call
Options held by the Reporting Person. Each such option entitled the holder
to acquire 100 Shares at a price of $30.00 per Share. The Reporting Person
acquired such options as listed below.
NO. OF CALL OPTIONS PRICE
TRADE DATE PURCHASED PER CALL OPTION
10/14/99 315 $5.41
10/19/99 4 $5.41
10/20/99 16 $5.41
10/14/99 5 $5.41
10/20/99 1 $5.41
10/14/99 40 $5.41
10/20/99 2 $5.41
_________________
9 On the Effective Date, pursuant to the consummation of the Merger between
the Company and CWC, the Reporting Persons' Shares were converted into the right
to receive $36.00 per share.
Page 44 of 46
<PAGE>
EXHIBIT INDEX
EXHIBIT 1 Joint Acquisition Statement Pursuant to Rule
13D-(f)(1)
Page 45 of 46
<PAGE>
EXHIBIT 1
to
SCHEDULE 13D
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D-(f)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13D shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him, her or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the other entities or persons, except to the extent that he, she or
it knows or has reason to believe that such information is inaccurate.
Dated: November 24, 1999
/s/ Thomas F. Steyer
----------------------------------------
FARALLON PARTNERS, L.L.C.,
on its own behalf and as General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
And TINICUM PARTNERS, L.P.,
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Thomas F. Steyer,
Senior Managing Member
/s/ Thoman F. Steyer
----------------------------------------
Thomas F. Steyer, individually and as attorney-in-fact for
each of Enrique H. Boilini, David I. Cohen, Joseph F.
Downes, William F. Duhamel, Fleur E. Fairman, Jason M. Fish,
Andrew B. Fremder, Richard B. Fried, William F. Mellin,
Stephen L. Millham, and Meridee A. Moore.
Page 46 of 46
<PAGE>
