SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-
1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(Amendment No. 2)
GOLDEN STATE BANCORP INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $1.00 PER SHARE
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(Title of Class of Securities)
381197 10 2
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(CUSIP Number)
Barry F. Schwartz, Esq. Gerald J. Ford
MacAndrews & Forbes Holdings Inc. Hunter's Glen/Ford, Ltd.
35 East 62nd Street 200 Crescent Court, Suite 1350
New York, New York 10021 Dallas, Texas 75201
(212) 572-8600 (214) 871-5131
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
January 21, 1999
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box ( )
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
(Continued on following pages)
(Page 1 of 9)
CUSIP No. 381197 10 2 13D Page 2 of 9 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Mafco Holdings Inc.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
( )
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7. SOLE VOTING POWER
SHARES -0-
BENEFICIALLY -------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 45,499,525*
REPORTING -------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH -0-
-------------------------------------------------------
10. SHARED DISPOSITIVE POWER
45,499,525*
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
45,499,525*
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
(X)
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.9%
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14. TYPE OF REPORTING PERSON
CO
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----------------------
* Mafco Holdings Inc. expressly disclaims any beneficial inter-
est in any shares of Common Stock beneficially owned by
Hunter's Glen/Ford, Ltd., Ford Diamond Corporation or Gerald
J. Ford.
CUSIP No. 381197 10 2 13D Page 3 of 9 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
GSB Investments Corp.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
( )
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7. SOLE VOTING POWER
SHARES -0-
BENEFICIALLY -------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 45,499,525*
REPORTING -------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH -0-
-------------------------------------------------------
10. SHARED DISPOSITIVE POWER
45,499,525*
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
45,499,525*
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
(X)
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.9%
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14. TYPE OF REPORTING PERSON
CO
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-----------------------
* GSB Investments Corp. expressly disclaims any beneficial
interest in any shares of Common Stock beneficially owned by
Hunter's Glen/Ford, Ltd., Ford Diamond Corporation or Gerald
J. Ford.
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CUSIP No. 381197 10 2 13D Page 4 of 9 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Gerald J. Ford
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
( )
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7. SOLE VOTING POWER
SHARES -0-
BENEFICIALLY -------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 16,763,782*
REPORTING -------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH -0-
-------------------------------------------------------
10. SHARED DISPOSITIVE POWER
16,763,782*
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,763,782*
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
(X)
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5%
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14. TYPE OF REPORTING PERSON
IN
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-----------------------------
* Mr. Ford expressly disclaims any beneficial interest in any
shares of Common Stock beneficially owned by Mafco Holdings
Inc. or GSB Investments Corp.
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CUSIP No. 381197 10 2 13D Page 5 of 9 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Ford Diamond Corporation
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
( )
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF 7. SOLE VOTING POWER
SHARES -0-
BENEFICIALLY -------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 16,763,782*
REPORTING -------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH -0-
-------------------------------------------------------
10. SHARED DISPOSITIVE POWER
16,763,782*
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,763,782*
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
(X)
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5%
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14. TYPE OF REPORTING PERSON
CO
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-----------------------
* Ford Diamond Corporation expressly disclaims any beneficial
interest in any shares of Common Stock beneficially owned by
Mafco Holdings Inc. or GSB Investments Corp.
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CUSIP No. 381197 10 2 13D Page 6 of 9 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON.
Hunter's Glen/Ford, Ltd.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
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3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
( )
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF 7. SOLE VOTING POWER
SHARES -0-
BENEFICIALLY -------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 16,763,782*
REPORTING -------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH -0-
-------------------------------------------------------
10. SHARED DISPOSITIVE POWER
16,763,782*
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,763,782*
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
(X)
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5%
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14. TYPE OF REPORTING PERSON
OO
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----------------------
* Hunter's Glen/Ford, Ltd. expressly disclaims any beneficial
interest in any shares of Common Stock beneficially owned by
Mafco Holdings Inc. or GSB Investments Corp.
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CUSIP No. 381197 10 2 13D Page 7 of 9 Pages
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This Amendment No. 2 to the Statement on Schedule 13D amends the
Statement on Schedule 13D, dated September 11, 1998, as amended by
Amendment No. 1 thereto, dated December 30, 1998 (as so amended, the
"Schedule 13D"), filed by (a) Mafco Holdings Inc., a Delaware corporation
("Mafco Holdings"), (b) GSB Investments Corp., a Delaware corporation and
an indirect wholly owned subsidiary of Mafco Holdings ("Investments
Corp."), (c) Gerald J. Ford, (d) Ford Diamond Corporation, a Texas
corporation ("FDC") and (e) Hunter's Glen/Ford, Ltd., a Texas limited
partnership ("Hunter's Glen"), with respect to the common stock, par value
$1.00 per share (the "Common Stock"), of Golden State Bancorp Inc., a
Delaware corporation (the "Company"). The principal executive offices of
the Company are located at 135 Main Street, San Francisco, California
94105. Capitalized terms used herein shall have the meanings ascribed to
them in the Schedule 13D unless otherwise defined.
ITEM 4. PURPOSE OF TRANSACTION.
The following is added to the response to Item 4:
Pursuant to Section 1.6 of the Reorganization Agreement, on January
21, 1999, the Company issued 4,432,255 shares of Common Stock to
Investments Corp. and 1,108,064 shares of Common Stock to Hunter's Glen, as
contingent merger consideration in the Mergers, in consideration of (i)
income tax refunds received by Cal Fed in 1998 during the period following
the consummation of the Mergers in excess of the corresponding amount of
tax refunds receivable recorded on the books of Cal Fed with respect
thereto (the "1998 Tax Refunds"), and (ii) the federal income tax savings
to Cal Fed (the "Branch Sale Tax Savings") resulting from the sale of its
branch banking business in Florida immediately prior to the closing of the
Mergers. Pursuant to the terms of the Reorganization Agreement, the
aggregate dollar amount of the 1998 Tax Refunds and the Branch Sale Tax
Savings was calculated at $102,665,485. The number of shares of Common
Stock to be issued to Investments Corp. and Hunter's Glen in respect of the
1998 Tax Refunds and the Branch Sale Tax Savings was determined by the
Company based on the daily-volume-weighted average price per share of the
Common Stock for the period beginning September 14, 1998 and ending
December 31, 1998, which was $18.0495. In accordance with the terms of the
Reorganization Agreement, Contingent Shares were issued only in respect of
the first $100 million of tax benefits described above, and Investments
Corp. and Hunter's Glen have the right to receive an additional 118,141 and
29,535 shares, respectively, in consideration of the remaining $2,665,485
in tax benefits described above in the succeeding year, subject to the
terms of the Reorganization Agreement.
Investments Corp. and Hunter's Glen also have the right to receive
additional Contingent Shares in the future based upon (a) the use by the
Company of certain other potential tax benefits of Parent Holdings, FNH and
Cal Fed and the realization of certain other potential tax assets and
liabilities of the Company and Parent Holdings, and (b) Cal Fed's net
after-tax recovery in certain specified litigation, including a percentage
of the net after-tax recovery in Cal Fed's goodwill litigation against the
United States. The number of additional Contingent Shares to be issued to
Investments Corp. and Hunter's Glen pursuant to Section 1.6 of the
Reorganization Agreement cannot be determined at the present time as such
number depends upon factors that are not subject to determination at this
time.
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CUSIP No. 381197 10 2 13D Page 8 of 9 Pages
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The Reporting Persons acquired and continue to hold the shares of
Common Stock reported herein for investment purposes. In this connection,
the Reporting Persons expect to evaluate on an ongoing basis their
investment in the Company, and may from time to time acquire additional
shares of Common Stock, dispose of shares of Comon Stock or formulate other
purposes, plans or proposals regarding the Company or the Common Stock held
by the Reporting Persons to the extent deemed advisable in light of general
investment policies, market conditions and other factors. Any such
acquisitions or dispositions may be made, subject to applicable law, in
open market or privately negotiated transactions or otherwise.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The following is added to the response to Item 5:
(a) - (b) Based on the number of outstanding shares of Common Stock as
of October 31, 1998, as disclosed by the Company in its Quarterly Report on
Form 10-Q for the quarter ended September 30, 1998, and the total number of
shares issued to Hunter's Glen and Investments Corp. on January 21, 1999,
Mafco Holdings and Investments Corp. may be deemed to share beneficial
ownership of 45,499,525 shares of Common Stock, representing 33.9% of the
Common Stock outstanding, and Mr. Ford, FDC and Hunter's Glen may be deemed
to share beneficial ownership of 16,763,782 shares of Common Stock,
representing 12.5% of the Common Stock outstanding. Mafco Holdings and
Investments Corp. expressly disclaim any beneficial ownership of or
interest in any shares of Common Stock beneficially owned by Hunter's Glen,
FDC or Mr. Ford. Mr. Ford, FDC and Hunter's Glen expressly disclaim any
beneficial ownership of or interest in any shares of Common Stock
beneficially owned by Mafco Holdings or Investments Corp.
Except as otherwise set forth in this Item 5, as amended, neither the
Reporting Persons nor, to the knowledge of the Reporting Persons, any of
the persons listed on Schedule I hereto beneficially own any shares of
Common Stock.
(c) Other than the transactions described in Item 4 of this Schedule
13D, there were no transactions by the Reporting Persons or, to the
knowledge of the Reporting Persons, any of the persons named on Schedule I
hereto during the past 60 days.
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CUSIP No. 381197 10 2 13D Page 9 of 9 Pages
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ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
The following is added to the response to Item 6:
The 4,432,255 shares of Common Stock received by Investments Corp. in
respect of the 1998 Tax Refunds and the Branch Sale Tax Savings, as well as
any additional Contingent Shares received by Investments Corp. in the
future and the capital stock of any intermediate holding companies
affiliated with Mafco Holdings, are or may be from time to time pledged to
secure certain obligations.
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.
Date: January 22, 1999
MAFCO HOLDINGS INC.
By: /s/ Glenn P. Dickes
------------------------------------
Name: Glenn P. Dickes
Title: Senior Vice President
GSB INVESTMENTS CORP.
By: /s/ Glenn P. Dickes
------------------------------------
Name: Glenn P. Dickes
Title: Vice President
FORD DIAMOND CORPORATION
By: /s/ Nancy Foederer
------------------------------------
Name: Nancy Foederer
Title: Vice President
HUNTER'S GLEN/FORD, LTD.
By: Ford Diamond Corporation,
General Partner
By: /s/ Nancy Foederer
------------------------------
Name: Nancy Foederer
Title: Vice President
