UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
CAMERON ASHLEY BUILDING PRODUCTS, INC.
(Name of Issuer)
COMMON STOCK (INCLUDING ASSOCIATED PREFERRED STOCK PURCHASE RIGHT)
(Title of Class of Securities)
13329010
(CUSIP Number)
BART A. MCLEAN
CGW, INC.
TWELVE PIEDMONT CENTER, SUITE 210
ATLANTA, GEORGIA 30305
404-816-3255
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 20, 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 which 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 for other parties
to whom copies are to be sent.
*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 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 26
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- ----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
CGW SOUTHEAST I, INC.
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- ------------------------- ------- -----------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 (See Item 5.)
NUMBER OF ------- -----------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 938,121 (See Item 5.)
EACH ------- -----------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0 (See Item 5.)
------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
938,121 (See Item 5.)
- ------------------------- ------- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
938,121 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.8% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
HC, CO
- --------- -----------------------------------------------------------------------------------------------------------
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Page 2 of 26
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- -----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
CGW SOUTHEAST PARTNERS I, L.P.
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- --------- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 (See Item 5.)
NUMBER OF ------- -----------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 938,121 (See Item 5.)
EACH ------- -----------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0 (See Item 5.)
------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
938,121 (See Item 5.)
- ------------------------- ------- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
938,121 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.8% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
- --------- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 26
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- -----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
RICHARD L. CRAVEY
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 (See Item 5.)
NUMBER OF ------- -----------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 938,121 (See Item 5.)
EACH ------- -----------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0 (See Item 5.)
------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
938,121 (See Item 5.)
- ------------------------- ------- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
938,121 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.8% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
- --------- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 26
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- -----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
EDWIN A. WAHLEN, JR.
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------- ------- -----------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0 (See Item 5.)
SHARES ------- -----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 938,121 (See Item 5.)
REPORTING ------- -----------------------------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0 (See Item 5.)
------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
938,121 (See Item 5.)
- ------------------------- ------- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
938,121 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.8% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
- --------- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 5 of 26
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- -----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
CGW, INC.
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- --------- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 (See Item 5.)
------- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 (See Item 5.)
OWNED BY ------- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0 (See Item 5.)
WITH ------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 (See Item 5.)
- ------------------------- ------- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
HC, CO
- --------- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 6 of 26
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- -----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
CGW SOUTHEAST IV, L.L.C.
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- ------------------------- ------- -----------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 (See Item 5.)
------- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 (See Item 5.)
OWNED BY ------- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0 (See Item 5.)
WITH ------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 (See Item 5.)
- ------------------------- ------- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
- --------- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 7 of 26
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- -----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
CGW SOUTHEAST PARTNERS IV, L.P.
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
BK, AF
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- ------------------------- ------- -----------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 (See Item 5.)
------- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 (See Item 5.)
OWNED BY ------- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0 (See Item 5.)
WITH ------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 (See Item 5.)
- ------------------------- ------- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
- --------- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 8 of 26
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- -----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
CBP HOLDINGS, INC.
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
BK, AF, OO
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- ------------------------- ------- -----------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 (See Item 5.)
------- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 (See Item 5.)
OWNED BY ------- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0 (See Item 5.)
WITH ------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
- --------- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 9 of 26
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- -----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
CBP ACQUISITION CORP.
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- ------------------------- ------- -----------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 (See Item 5.)
------- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 (See Item 5.)
OWNED BY ------- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0 (See Item 5.)
WITH ------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
- --------- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 10 of 26
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<TABLE>
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- -----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
RONALD R. ROSS
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------- ------- -----------------------------------------------------------------------------------
7 SOLE VOTING POWER
188,661 (See Item 5.)
------- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 (See Item 5.)
OWNED BY ------- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 188,661 (See Item 5.)
WITH ------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
188,661 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.2% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
- --------- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 11 of 26
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- -----------------------------------------------
CUSIP No. 13329010
- -----------------------------------------------
- --------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
WALTER J. MURATORI
- --------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
- --------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- --------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
292,505 (See Item 5.)
------- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 (See Item 5.)
OWNED BY ------- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 292,505 (See Item 5.)
WITH ------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
292,505 (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
- --------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.4% (See Item 5.)
- --------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
- --------- -----------------------------------------------------------------------------------------------------------
</TABLE>
Page 12 of 26
<PAGE>
This Amendment No. 1 to Schedule 13D (this "Amendment") amends the
statement on Schedule 13D (the "Schedule 13D") with respect to the common stock
and the associated preferred stock purchase rights of Cameron Ashley Building
Products, Inc., filed on January 24, 2000, by (1) CGW Southeast I, Inc., (2) CGW
Southeast Partners I, L.P., (3) Richard L. Cravey, (4) Edwin A. Wahlen, Jr., (5)
CGW, Inc., (6) CGW Southeast IV, L.L.C., (7) CGW Southeast Partners IV, L.P.,
(8) CBP Holdings, Inc., (9) CBP Acquisition Corp., (10) Ronald R. Ross, and (11)
Walter J. Muratori. Capitalized terms used and not defined in this Amendment
have the meanings given to such terms in the Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 is amended by appending the following to the end of the
disclosure in Item 3:
CBP Holdings plans to obtain additional funds to consummate the
transaction described in Item 4 from a senior preferred equity investment by
Owens Corning or its affiliate ("OC Investor") pursuant to a commitment letter
dated March 13, 2000, and a second letter dated March 13, 2000, in each case
from OC Investor to Cameron Ashley (collectively, the "OC Investor Commitment").
The OC Investor Commitment provides that if CBP Holdings increases its offer
price for Cameron Ashley above the proposed offering price of Guardian
Industries Corp., then OC Investor will provide CBP Holdings with $30 million in
unsecured financing in the form of non-voting senior preferred stock of CBP
Holdings, subject to satisfaction of the conditions precedent contained in the
merger agreement that is described in Item 4 and the execution of a mutually
acceptable supply agreement with Cameron Ashley.
The OC Investor Commitment provides, among other things, (1) that the
preferred stock will have a 7.5% cumulative annual dividend, payable in-kind on
a semi-annual basis, (2) that the preferred stock will be senior to all other
equity securities of CBP Holdings, but junior to the Junior Facility, (3) that
the preferred stock will mature in nine years, (4) that CBP Holdings may redeem
the preferred stock at any time without penalty, but must redeem the preferred
stock upon a change in control of CBP Holdings, (5) that CBP Holdings or OC
Investor may require that the preferred stock be exchanged for subordinated
notes with the same features, and (6) that the investment by OC Investor will be
subject to certain other customary financial and other covenants.
This description of the OC Investor Commitment is summary in nature,
not intended to be a complete description thereof and qualified in its entirety
by reference to the full text of the OC Investor Commitment, which is filed as
an exhibit hereto and incorporated by reference herein.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 is amended by appending the following to the end of the Item 4
disclosure:
On March 20, 2000, by letter to the Special Committee of the Board of
Directors of Cameron Ashley (the "Offer Letter"), CBP Holdings offered to
increase the purchase price to be paid by CBP Holdings from $15.10 to $18.25 per
share. The Offer Letter provides that the offer made therein expires at 5:00
p.m. (eastern time) on Monday, March 27, 2000. CBP Holdings provided with the
Offer Letter a proposed amendment to the Merger Agreement (the "First Amendment
to Merger Agreement").
Page 13 of 26
<PAGE>
If the First Amendment to Merger Agreement is executed by Cameron
Ashley, the total consideration to be paid by CBP Holdings for Cameron Ashley,
including cash to be paid in exchange for outstanding Shares and in exchange for
the cancellation of outstanding options and warrants and including the
refinancing and assumption of debt of Cameron Ashley and its subsidiaries, will
be approximately $348 million. In addition, if Cameron Ashley accepts the First
Amendment to Merger Agreement:
o Upon consummation of the merger, each outstanding stock option to
purchase Shares granted under any stock option plan, compensation
plan or arrangement of Cameron Ashley or outstanding warrant to
purchase Shares will be cancelled, and the holder thereof will be
paid by Cameron Ashley for each such option or warrant an amount
equal to the product of (i) the excess of $18.25, rather than
$15.10, over the applicable exercise price per Share and (ii) the
number of Shares such holder could have purchased pursuant to such
option or warrant immediately prior to the effective time of the
merger.
o Upon consummation of the merger, each outstanding share of Common
Stock, together with the associated preferred stock purchase rights
issued pursuant to that certain Rights Agreement, dated August 19,
1997, as amended, between Cameron Ashley and SunTrust Bank, Atlanta,
other than Shares held by CBP Holdings, will be cancelled and
converted into the right to receive $18.25, rather than $15.10, in
cash.
o The date after which a party to the Merger Agreement may terminate
the Merger Agreement would be extended from June 30, 2000, to July
31, 2000, if the Effective Time (as defined in the Merger Agreement)
does not occur by then.
References to, and descriptions of, the First Amendment to Merger
Agreement and the Offer Letter as set forth in this Item 4 are qualified in
their entirety by reference to the copies of the First Amendment to Merger
Agreement and the Offer Letter included as exhibits to this Schedule 13D and
incorporated herein.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
Item 6 is amended in its entirety to read as follows:
The information set forth in Items 2 through 5, inclusive, is hereby
incorporated herein by reference. Copies of the Merger Agreement, the First
Amendment to Merger Agreement, the Offer Letter, the Investment Letter, the
Fleet Commitment Letter, the Whitney Commitment Letter and the OC Investor
Commitment are included as exhibits to this Schedule 13D and incorporated herein
by reference. To the best of the Reporting Persons' knowledge, except as
described in this Schedule 13D, there are at present no contracts, arrangements,
understandings or relationships (legal or otherwise) among the persons named in
Item 2 hereof and between any such persons and any person with respect to any
securities of Cameron Ashley. Without limiting the generality of the immediately
preceding sentence, the Reporting Persons have not reached any agreement,
arrangement or understanding, explicit or implicit, as to the voting of any
Shares held by Messrs. Ross and Muratori. CGW I, Inc. does, however, anticipate
causing the Shares held by CGW I to be voted in favor of the merger described in
Page 14 of 26
<PAGE>
Item 4 at any meeting of Cameron Ashley shareholders held for the purpose of
voting on such merger.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Item 7 is hereby amended by appending the following to the end of the
disclosure in Item 7:
(f) Commitment Letter dated March 13, 2000, from OC Investor to CBP
Holdings, Inc., including Letter dated March 13, 2000, from OC Investor to CBP
Holdings, Inc.
(g) Letter dated March 20, 2000, from CBP Holdings, Inc. to Special
Committee of the Board of Directors of Cameron Ashley Building Products, Inc.
(h) (Proposed) Amendment No. 1 to Agreement and Plan of Merger dated
January 17, 2000, among Cameron Ashley Building Products, Inc., CBP Holdings,
Inc. and CBP Acquisition Corp.
Page 15 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
3/21/00 CGW SOUTHEAST I, INC.
- ---------------------------
Date
By: /s/ Bart A. McLean
----------------------------
Name: Bart A. McLean
---------------------------
Title: Managing Director
------------------------
Page 16 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
CGW SOUTHEAST PARTNERS I, L.P.
3/21/00
------------------------ By: CGW Southeast I, Inc.,
Date its general partner
By: /s/ Bart A. McLean
----------------------------
Name: Bart A. McLean
-------------------------
Title: Managing Director
------------------------
Page 17 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
3/21/00 /s/ Richard L. Cravey
------------------- ---------------------
Date RICHARD L. CRAVEY
Page 18 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
3/21/00 /s/ Edwin A. Wahlen, Jr.
------- ------------------------
Date EDWIN A. WAHLEN, JR.
Page 19 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
CGW, INC.
3/21/00 By: /s/ Bart A. McLean
------- ------------------
Bart A. McLean, Vice President
Page 20 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
CGW SOUTHEAST IV, L.L.C.
3/21/00 By: CGW, Inc.,
------- its manager
Date
By: /s/ Bart A. McLean
----------------------------------
Bart A. McLean, Vice President
Page 21 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
CGW SOUTHEAST PARTNERS IV, L.P.
3/21/00 By: CGW Southeast IV, L.L.C.
-------- its general partner
Date
By: CGW, Inc.
its manager
By: /s/ Bart A. McLean
-----------------------------
Bart A. McLean, Vice President
Page 22 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
3/21/00 CBP HOLDINGS, INC.
-------
Date
By: /s/ Bart A. McLean
-------------------------
Bart A. McLean, President
Page 23 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
3/21/00 CBP ACQUISITION CORP.
-------
Date
By: /s/ Bart A. McLean
---------------------------
Bart A. McLean, President
Page 24 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
3/21/00 /s/ Ronald R. Ross
------- ------------------
Date RONALD R. ROSS
Page 25 of 26
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
3/21/00 /s/ Walter J. Muratori
------- ----------------------
Date WALTER J. MURATORI
Page 26 of 26
Exhibit 7(f)
OWENS CORNING WORLD HEADQUARTERS
ONE OWENS CORNING PARKWAY
TOLEDO, OHIO 43659
413.248.8000
[OWENS CORNING LOGO]
March 13, 2000
CBP Holdings, Inc.
c/o CGW Southeast Partners IV, L.P.
Twelve Piedmont Center
Suite 210
Atlanta, GA 30305
Attention: Bart A. McLean
President
Gentlemen:
1. Commitment. This letter (the "Letter Agreement") will confirm the
commitment of Owens Corning, a Delaware corporation ("OC"), to provide $30.0
million of senior preferred equity financing (the "Financing") to CBP Holdings,
Inc., a Georgia corporation, (the "Company"), on terms and conditions
substantially as set forth on Exhibit A hereto, and subject to the terms and
conditions set forth herein. The proceeds to the Company from the Financing may
be used as part of the total financing to acquire 100% of the outstanding
capital stock (the "Transaction") of Cameron Ashley Building Products, Inc., a
Georgia corporation ("Cameron Ashley"), pursuant to the terms and conditions of
the Agreement and Plan of Merger, dated as of January 17, 2000, by and among the
Company, CBP Acquisition Corp., and certain other parties thereto (the "Merger
Agreement").
2. Conditions. Our commitment to provide the Financing hereunder is
subject to (i) the satisfaction or waiver of all conditions precedent to the
Transaction contained in the Merger Agreement; and (ii) the execution by OC and
Cameron Ashley of a mutually-acceptable Supply Agreement (collectively, the
"Conditions").
3. Termination. This Financing commitment will be effective upon the
Company's acceptance of the terms and conditions of this Letter Agreement and
will expire, unless otherwise waived by OC in its sole discretion, as of the
earlier to occur of (a) the date that is six (6) months from the date hereof or
(b) the termination of the Merger Agreement pursuant to the terms and conditions
of Section 7.1 thereof.
<PAGE>
CBP Holdings, Inc.
March 13, 2000
Page 2
4. Governing Law. This Letter Agreement shall be governed by and
construed in accordance with the internal laws of the state of New York
(excluding the provisions of such laws regarding conflicts of law).
5. Assignment, Amendment and Waiver. Neither this Letter Agreement nor
any of the rights, interests or obligations hereunder may be assigned by OC or
the Company without the prior written consent of the other. Any provision of
this Letter Agreement may be amended only with the prior written consent of OC
and the Company. Any provision of this Letter Agreement for the benefit of a
party hereto may be waived by such party (either generally or in particular and
either retroactively or prospectively), only by a written instrument signed by
the party waiving compliance.
6. Notices. All notices, requests, claims, demands and other
communications hereunder shall be in writing and delivered personally, sent by
documented overnight delivery service or, to the extent receipt is confirmed,
telecopy, telefax or other electronic transmission service to the appropriate
address or numbers as set forth below. Notices shall be effective only upon
annual receipt. Notices to the Company shall be addressed to:
CBP Holdings, Inc.
c/o CGW Southeast Partners IV, L.P.
Twelve Piedmont Center
Suite 210
Atlanta, GA 30305
Attn: Bart A. McLean
President
Fax: (404) 816-3258
with a copy (which shall not constitute notice to the Company) to:
Citicorp Venture Capital, Ltd.
399 Park Avenue, 14th Floor
New York, NY 10043
Attn: David F. Thomas
Michael Bradley
Fax: (212) 888-2940
and
Kirkland & Ellis
153 East 53rd Street
New York, NY 10022
Attn: Kirk A. Radke
(212) 446-4900
-2-
<PAGE>
CBP Holdings, Inc.
March 13, 2000
Page 3
and
Alston & Bird LLP
One Atlantic Center
1201 West Peachtree Street
Atlanta, GA 30309-3424
Attn: Teri McMahon
Fax: (404) 881-7777
or at such other address and to the attention of such other person as the
Company may designate by written notice to OC. Notices to OC shall be addressed
to:
Owens Corning
One Owens Corning Parkway
Toledo, OH 43659
Attn: Domenico Cecere
Fax: (419) 248-8445
or at such other address and to the attention of such other person as OC may
designate by written notice to the Company.
7. Complete Agreement. This Letter Agreement and the other documents
and writings referred to herein or delivered pursuant hereto contain the entire
understanding of the parties with respect to the subject matter hereof and
thereof and supersede all prior agreements and understandings, both written and
oral, between the parties with respect to the subject matter hereof and thereof.
8. No Third Party Beneficiaries. This Letter Agreement is not intended
and shall not be deemed to confer any benefit upon any person or entity other
than the parties hereto.
9. Headings. The headings contained in this Letter Agreement are for
references only and shall not affect in any way the meaning or interpretation of
this Letter Agreement.
10. Confidentiality. Neither the Company nor OC nor any of their
respective representatives or affiliates shall disclose to any third party the
terms or existence of this agreement without the written consent of the other,
except as otherwise required by law.
-3-
<PAGE>
CBP Holdings, Inc.
March 13, 2000
Page 4
Very truly yours,
OWENS CORNING
By: /s/ Domenico Cecere
_____________________
Domenico Cecere
President, BMSB
AGREED AND ACCEPTED:
CBP HOLDINGS, INC.
By: /s/ Bart A. McLean
_____________________
Bart A. McLean
President
-4-
<PAGE>
EXHIBIT A
CBP HOLDINGS, INC.
PROPOSED TERMS - SENIOR PREFERRED STOCK
<TABLE>
<CAPTION>
<S> <C>
Issuer: CBP Holdings, Inc., a Georgia corporation.
Purchaser: Owens Corning, a Delaware corporation.
Principal Amount: $30.0 million.
Dividend Rate: 7.5% cumulative dividends, payable in kind on a semi-annual basis.
Maturity: 9 years.
Rank: The Senior Preferred Stock will, with respect to dividend distributions
and distributions upon liquidation, winding-up and dissolution of the
Issuer, rank (i) junior to the subordinated indebtedness of J.H.
Whitney & Co. and (ii) senior to all other classes or series of the
Issuer's equity securities.
Security: Unsecured.
Redemptions:
Mandatory: Mandatorily redeemable, at face value, plus accrued dividends, upon a
change of control of the Issuer.
Optional: Optionally redeemable by the Issuer at any time, in whole or in part,
without premium or penalty, or face value plus accrued dividends.
Exchange: The Issuer may, at its option and at any time, or shall upon demand from Purchaser,
exchange all or any portion of the Senior Preferred Stock into subordinated notes
containing the same features of the Senior Preferred Stock.
Covenants: The Issuer shall be subject to normal and customary restrictions
regarding (i) change of control, (ii) junior payments, and (iii)
affiliate transactions.
Transfer Restrictions: The Senior Preferred Stock shall be non-transferable, except for
transfers made by the Purchaser to its affiliates.
Information Rights: The Purchaser shall be entitled to receive audited annual financial statements
of the Issuer and, to the extent desired, monthly and/or quarterly unaudited financial
statements of the Issuer.
Supply Agreements: The Issuer shall execute a Supply Agreement with the Purchaser,
substantially in the form attached hereto as Exhibit B.
Registration Rights: None.
Board Representation: None.
Voting Rights: None, except as otherwise required by law.
</TABLE>
<PAGE>
[OWENS CORNING LOGO]
OWENS CORNING WORLD HEADQUARTERS
ONE OWENS CORNING PARKWAY
TOLEDO, OHIO 43659
419.248.8000
March 13, 2000
CBP Holdings, Inc.
c/o CGW Southeast Partners IV, L.P.
Twelve Piedmont Center
Suite 210
Atlanta, GA 30305
Attention: Bart A. McLean
President
Gentlemen:
This letter is to clarify our mutual understanding regarding Owens
Corning's commitment to provide Financing as set forth in the letter agreement
between OC and the Company dated March 13, 2000 (the "Commitment Letter").
(Capitalized terms used herein and not defined shall have the meanings set forth
in the Commitment Letter.)
The Company has no obligation to effect the Financing. The intent of
the Commitment Letter is to obligate OC to provide the Financing if, and only
if, the Company decides to increase its offer price for Cameron Ashley above the
proposed purchase price of Guardian Industries. OC acknowledges that (i) the
Company has not yet determined whether to increase its offer price for Cameron
Ashley and (ii) if OC does not provide the Financing, then the Supply Agreement
with Cameron Ashley shall terminate.
Very truly yours,
OWENS CORNING
By: /s/ Stephen K. Krull
______________________
Name: Stephen K. Krull
Title: Vice President and General Counsel
Building Materials Systems Business
<PAGE>
Agreed and Accepted:
CBP HOLDINGS, INC.
By: /s/ Bart A. McLean
____________________
Name: Bart A. McLean
__________________
Title: President
__________________
-2-
Exhibit 7(g)
CBP Holdings, Inc.
12 Piedmont Center, Suite 210
Atlanta, GA 30305
P: (404) 816-3255
F: (404) 816-3258
VIA FAX: (404) 352-9987
March 20, 2000
The Special Committee of the Board of Directors of
Cameron Ashley Building Products, Inc.
c/o Lawrence P. Klamon, Esq.
2665 Dellwood Drive, NW
Atlanta, GA 30305-3519
Dear Larry:
Attached is an amendment to the Merger Agreement previously signed by CBP
Holdings, Inc., CBP Acquisition Corp., and Cameron Ashley Building Products,
Inc. on January 17, 2000. The amendment reflects an increase in the price per
share that we offer to pay for the stock of Cameron Ashley Building Products to
$18.25. We also reconfirm the understanding of all parties that under no
circumstance shall the aggregate amount owed to CBP Holdings, Inc. under
paragraphs (b), (c), and/or (d) of Section 7.3 of the Merger Agreement exceed
$5 million. To facilitate our ability to present a higher offer for the stock
of Cameron Ashley Building Products in light of Guardian's $17/share proposal,
we obtained a commitment from Owens Corning to provide $30 million of additional
equity financing.
Our offer to acquire the stock of Cameron Ashley Building Products at this
increased price as reflected in the attached amendment will remain outstanding
until 5:00 pm Monday, March 27, 2000. Please indicate your acceptance of the
revised terms of our offer as reflected in the amendment by signing the attached
amendment and returning it to me prior to such date.
Please let us know if you need any further information.
Sincerely,
CBP Holdings, Inc.
By: /s/ Bart A. McLean
____________________________
Bart A. McLean
President
Exhibit 7(h)
AMENDMENT NO. 1 TO
AGREEMENT AND PLAN OF MERGER
DATED AS OF MARCH 20, 2000
BY AND AMONG
CAMERON ASHLEY BUILDING PRODUCTS, INC.,
CBP HOLDINGS, INC.
AND
CBP ACQUISITION CORP.
<PAGE>
AMENDMENT NO. 1
TO AGREEMENT AND PLAN OF MERGER
THIS AMENDMENT NO. 1 TO AGREEMENT AND PLAN OF MERGER (this
"Amendment"), dated as of March 20, 2000, is entered into by and among Cameron
Ashley Building Products, Inc., a Georgia corporation (the "Company"), CBP
Holdings, Inc., a Georgia corporation ("Purchaser"), and CBP Acquisition Corp.,
a Georgia corporation and a wholly owned subsidiary of Purchaser ("Acquisition
Sub"). Capitalized terms used but not defined herein shall have the meanings set
forth in the Agreement and Plan of Merger dated as of January 17, 2000 and
entered into among the Company, the Purchaser and the Acquisition Sub (the
"Agreement").
WHEREAS, Purchaser, Acquisition Sub and the Company desire to amend the
Agreement on the terms set forth herein;
NOW, THEREFORE, in consideration of the premises, covenants and
agreements herein contained, and intending to be legally bound hereby,
Purchaser, Acquisition Sub and the Company hereby agree as follows:
SECTION 1
AMENDMENT OF THE AGREEMENT
Section 1.1 Revisions to Section 1.8(a) of the Agreement. Section
1.8(a) of the Agreement is hereby amended in its entirety to read as follows:
(a) Each issued and outstanding share of Common
Stock, no par value, of the Company ("Share") immediately prior to the
Effective Time, together with the associated preferred stock purchase
rights (the "Rights") issued pursuant to that certain Rights Agreement,
dated as of August 19, 1997, as amended (the "Rights Agreement"), by
and between the Company and SunTrust Bank, Atlanta, Georgia, as Rights
Agent (other than (i) any Shares to be canceled pursuant to Sections
1.8(b) and 1.8(c) and (ii) any Dissenting Shares (as defined in Section
2.1 hereof)), shall be canceled and extinguished and be converted into
the right to receive $18.25 in cash (the "Merger Consideration"),
payable to the holder thereof, without interest thereon, upon the
surrender of the certificate formerly representing such Share in the
manner provided in Section 2.2 hereof and less any required withholding
of Taxes (as hereinafter defined). From and after the Effective Time,
all such Shares shall no longer be outstanding and shall be deemed to
be canceled and retired and shall cease to exist, and each holder of a
certificate representing any such Shares shall cease to have any rights
with respect thereto, except the right to receive the Merger
Consideration therefor, without interest thereon, upon the surrender of
such certificate in accordance with Section 2.2 hereof, or the right,
if any, to receive payment from the Surviving Corporation of the "fair
value" of such Shares as determined in accordance with Article 13 of
the GBCC.
-1-
<PAGE>
Section 1.2 Revisions to Section 7.1(b) of the Agreement. Section
7.1(b) of the Agreement is hereby amended in its entirety to read as follows:
(b) by Purchaser or the Company if (i) any court or
Governmental Entity of competent jurisdiction shall have issued an
order, decree or ruling or taken any other action restraining,
enjoining or otherwise prohibiting the Merger (including the denial of
any consent of a Governmental Entity required for consummation of the
Merger) and such order, decree, ruling or other action is or shall have
become final and nonappealable or (ii) the Effective Time is not
occurring concurrently therewith on or before July 31, 2000 (the "Drop
Dead Date"); provided, however, that the right to terminate this
Agreement under this Section 7.1(b) shall not be available to any party
whose failure to fulfill any obligation under this Agreement has been
the cause of, or resulted in, the failure of the Effective Time to
occur on or before such date; or
SECTION 2
MISCELLANEOUS
Section 2.1 Entire Agreement; Assignment. The Agreement, as amended by
this Amendment, (a) constitutes the entire agreement among the parties hereto
with respect to the subject matter hereof and supersedes all other prior
agreements and understandings, both written and oral, among the parties with
respect to the subject matter thereof (including, without limitation, that
certain Confidentiality Agreement, as amended, between the Company and an
affiliate of Purchaser) and (b) shall not be assigned by operation of law or
otherwise.
Section 2.2 Validity. If any provision of this Amendment, or the
application thereof to any Person or circumstance, is held invalid or
unenforceable, the remainder of this Amendment, and the application of such
provision to other Persons or circumstances, shall not be affected thereby, and
to such end, the provisions of this Amendment are agreed to be severable.
Section 2.3 Governing Law. The Agreement, as amended by this Amendment,
shall be governed by and construed in all respects in accordance with the laws
of the State of Georgia as contracts wholly negotiated, executed and to be
performed in the State of Georgia, without regard to the principles of conflicts
of law thereof. With respect to the Agreement, as amended by this Amendment, the
parties hereto hereby agree and consent to be subject to the exclusive
jurisdiction of the United States District Court for the Northern District of
Georgia or the state courts of Fulton County, Georgia in any suit, action or
proceeding seeking to enforce any provision of, or based on any matter arising
out of or in connection with, this Amendment. Each party hereto hereby
irrevocably waives, to the fullest extent permitted by law, (a) any objection
that it may now or hereafter have to laying venue of any suit, action or
proceeding brought in such court and (b) any claim that any suit, action or
proceeding brought in such court has been brought in an inconvenient forum.
Section 8.5 of the Agreement is hereby amended in its entirety to reflect these
revisions.
-2-
<PAGE>
Section 2.4 Descriptive Headings. The descriptive headings herein are
inserted for convenience of reference only and are not intended to be part of or
to affect the meaning or interpretation of this Amendment.
Section 2.5 Signatures. This Amendment may be executed in two (2) or
more counterparts, each of which shall be deemed to be an original, but all of
which shall constitute one and the same agreement. Copies of signatures
transmitted via facsimile shall constitute original signatures for all purposes
of this Amendment.
Section 2.6 References to the Agreement. From and after the execution
of this Amendment, all references in the Agreement to "this Agreement,"
"hereof," "herein" and similar terms shall mean or refer to the Agreement, as
amended by this Amendment, and all references in other documents to the
Agreement shall mean the Agreement, as amended by this Amendment.
Section 2.7 Amendment. This Amendment shall not be modified,
supplemented or terminated in any manner whatsoever, except by an instrument in
writing signed on behalf of the parties hereto.
Section 2.8 Ratification and Confirmation. The Agreement is hereby
ratified and confirmed and, except as herein amended, remains in full force and
effect.
-3-
<PAGE>
IN WITNESS WHEREOF, each of the parties has caused this Amendment to be
duly executed on its behalf as of the day and year first above written.
CAMERON ASHLEY BUILDING PRODUCTS,
INC.
By:
_____________________________
Name:
___________________________
Title:
__________________________
CBP HOLDINGS, INC.
By: /s/ Bart A. McLean
_____________________________
Name: /s/ Bart A. McLean
___________________________
Title: President
__________________________
CBP ACQUISITION CORP.
By: /s/ Bart A. McLean
_____________________________
Name: /s/ Bart A. McLean
___________________________
Title: President
__________________________
-4-
