================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)
----------
QUALITY DINING, INC.
(Name of Issuer)
Common Stock, no par value 747456P 10 5
(Title of class of securities) (CUSIP number)
David W. Schostak
NBO, LLC
25800 Northwestern Highway
Suite 750
Southfield, Michigan 48075
(248) 262-1000
(Name, address and telephone number of person authorized
to receive notices and communications)
February 28, 2000
(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 ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-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 ss. 240.13d-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 9 pages)
================================================================================
NY2:\882819\02\$X6R02!.DOC\72816.0003
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- --------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CUSIP No. 747456P 10 5 13D Page 2 of 9 Pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON NBO, LLC
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
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: Michigan
- ---------------------- -------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 1,200,000
SHARES ------------------- -------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY ------------------- -------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 1,200,000
REPORTING ------------------- -------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,200,000
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:
[ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.6%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
- ---------------------- -------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- --------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CUSIP No. 747456P 10 5 13D Page 3 of 9 Pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Jerome L. Schostak
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF, 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: 0
SHARES ------------------- -------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,200,000
OWNED BY ------------------- -------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING ------------------- -------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,200,000
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,200,000
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:
[ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.6%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
- ---------------------- -------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- --------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CUSIP No. 747456P 10 5 13D Page 4 of 9 Pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON David W. Schostak
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF, 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: 0
SHARES ------------------- -------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,200,000
OWNED BY ------------------- -------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING ------------------- -------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,200,000
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,200,000
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:
[ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.6%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
- ---------------------- -------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- --------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CUSIP No. 747456P 10 5 13D Page 5 of 9 Pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Robert I. Schostak
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF, 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: 0
SHARES ------------------- -------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,200,000
OWNED BY ------------------- -------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING ------------------- -------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,200,000
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,200,000
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:
[ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.6%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
- ---------------------- -------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- --------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CUSIP No. 747456P 10 5 13D Page 6 of 9 Pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Mark S. Schostak
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
(b) [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF, 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: 0
SHARES ------------------- -------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,200,000
OWNED BY ------------------- -------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING ------------------- -------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,200,000
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,200,000
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:
[ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.6%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
- ---------------------- -------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
This Amendment No. 5 ("Amendment No. 5") amends the
Statement on Schedule 13D filed on March 26, 1999, as amended by Amendment No. 1
filed on October 5, 1999, Amendment No. 2 filed on January 13, 2000, Amendment
No. 3 filed on February 22, 2000 and Amendment No. 4 filed on February 24, 2000
(the "Schedule 13D") by and on behalf of the following persons: NBO, LLC
("NBO"), Jerome L. Schostak, David W. Schostak, Robert I. Schostak and Mark S.
Schostak (collectively, the "Schostaks" and together with NBO, the "Reporting
Persons").
Except as otherwise indicated, capitalized terms used
herein and not defined herein have the meanings ascribed thereto in the Schedule
13D. As used herein, the "Company" or the "Issuer" shall mean Quality Dining,
Inc.
ITEM 4. PURPOSE OF TRANSACTION.
By letter dated February 28, 2000 (the "February 28
Letter"), David W. Schostak, on behalf of NBO, informed the Company's Board of
Directors that a financing condition would no longer be required in connection
with its $5.00 per share cash merger proposal to acquire all of the outstanding
common stock of Quality Dining.
NBO also indicated that it believed that the present
Quality Dining Board was under a fiduciary duty to consider its cash merger
proposal and urged the Quality Dining Board to embrace the auction process,
invite other bidders to participate, and offer NBO and other bona fide bidders
the opportunity to conduct diligence.
The February 28 Letter is filed as Exhibit 7 hereto and is
incorporated herein by reference.
Except as indicated above, the information set forth in
Item 4 of the Schedule 13D remains unchanged.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The following Exhibits are filed herewith:
7. Letter, dated February 28, 2000, from NBO to Quality
Dining Board of Directors.
7
<PAGE>
SIGNATURES
The undersigned, after reasonable inquiry and to the best of their knowledge and
belief, certify that the information set forth in this Statement is true,
complete and correct.
Dated: February 28, 2000
NBO, LLC
By: /s/ David W. Schostak
-----------------------------
David W. Schostak, Member
/s/ Jerome L. Schostak
--------------------------------
Jerome L. Schostak
/s/ David W. Schostak
--------------------------------
David W. Schostak
/s/ Robert I. Schostak
--------------------------------
Robert I. Schostak
/s/ Mark S. Schostak
--------------------------------
Mark S. Schostak
8
<PAGE>
EXHIBIT INDEX
Exhibit No. DESCRIPTION
- ----------- -----------
7. Letter, dated February 28, 2000, from NBO to
Quality Dining Board of Directors
9
EXHIBIT 7
NBO, LLC
25800 NORTHWESTERN HIGHWAY
SUITE 750
SOUTHFIELD, MICHIGAN 48075
TEL. (248) 262-1000 FAX (248) 357-6116
February 28, 2000
BY FACSIMILE AND FEDERAL EXPRESS
- --------------------------------
Board of Directors
Quality Dining, Inc.
4220 Edison Lakes Parkway
Mishawaka, Indiana 46545
Attn: Mr. Daniel B. Fitzpatrick,
Chairman, President and Chief Executive Officer
Re: Removal of Financing Condition
------------------------------
Dear Directors:
On February 22, 2000 we communicated to you our cash merger
proposal that would provide Quality Dining shareholders with a payment of $5.00
per share for all of the Company's outstanding shares of common stock.
Since that date, rather than considering this proposal, the
Board of Directors has postponed consideration to an indefinite date after the
annual meeting of shareholders in March. After we made our cash merger proposal,
you also communicated, through both a letter to shareholders and a company press
release, your concern that NBO had conditioned its offer on the receipt of
adequate financing.
Although we intend to finance our acquisition of Quality
Dining in a traditional manner, we are writing to advise you that we will not
require that the merger be conditioned upon our receipt of financing, i.e., our
$5.00 per share cash merger proposal is no longer subject to a financing
condition.
As we have previously communicated to you, we believe that
the Board's fiduciary duties require our proposal to be considered immediately.
We believe that this duty is attendant on the present Board at the present time.
We also believe that the time has come for the Board to embrace an auction and,
in order to maximize value to shareholders, invite other bidders into the
process and immediately allow us and other bona fide bidders to begin a standard
diligence investigation so that a transaction may be concluded promptly.
NY2:\882819\02\$X6R02!.DOC\72816.0003
<PAGE>
We look forward to your response to us as soon as possible.
Very truly yours,
/s/ David W. Schostak
David W. Schostak
cc: Philip J. Faccenda
Arthur J. Decio
James K. Fitzpatrick
Ezra H. Friedlander
Steven M. Lewis
Christopher J. Murphy III
Bruce M. Jacobson
