SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 4 to
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Marvel Enterprises,Inc.
(formerly Toy Biz, Inc.)
-----------------------
(Name of Issuer)
Common Stock, $.01 par value
----------------------------
(Title of Class of Securities)
57383M 10 8
-----------
(CUSIP Number)
Alan S. Cooper
Dickstein Partners Inc.
660 Madison Avenue, 16th Floor
New York, New York 10021
(212) 754-4000
--------------
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
October 4, 1999
----------------
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13(d)-1(f) or 13d-1(g), check the following
box: |_|
Page 1 of 15 pages
<PAGE>
SCHEDULE 13D
CUSIP No.57383M 10 8 Page 2 of 15 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN & CO., L.P.
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x] see Item 5
(b) [_]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
WC, 00 (See Item 3)
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 3,526,600 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING Not Applicable
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
3,526,600 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
Not Applicable
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,526,600/1/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.8% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
- ------------
/1/ Includes 2,497,404 shares of Common Stock that the Reporting Person has the
right to acquire upon conversion of 2,403,662 shares of the Issuer's 8%
Convertible Exchangeable Preferred Stock (the "Preferred Stock") held by the
Reporting Person.
<PAGE>
SCHEDULE 13D
CUSIP No.57383M 10 8 Page 3 of 15 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN FOCUS FUND L.P.
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x] see Item 5
(b) [_]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
WC, 00 (See Item 3)
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING Not Applicable
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
Not Applicable
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No.57383M 10 8 Page 4 of 15 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN INTERNATIONAL LIMITED
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x] see Item 5
(b) [_]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
WC, 00 (See Item 3)
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 434,502 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING Not Applicable
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
434,502 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
Not Applicable
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
434,502/2/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
- -------------
/2/Includes 420,169 shares of Common Stock that the Reporting Person has the
right to acquire upon conversion of 404,398 shares of Preferred Stock held by
the Reporting Person.
<PAGE>
SCHEDULE 13D
CUSIP No.57383M 10 8 Page 5 of 15 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN PARTNERS, L.P.
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x] see Item 5
(b) [_]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
AF, 00 (See Item 3)
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF Not Applicable
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING 3,526,600 (See Item 5)
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
Not Applicable
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
3,526,600 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,526,600/3/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.8% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
- --------
/3/ Includes 2,497,404 shares of Common Stock issuable upon conversion of
2,403,662 shares of Preferred Stock that may be deemed to be beneficially owned
by the Reporting Person.
<PAGE>
SCHEDULE 13D
CUSIP No.57383M 10 8 Page 6 of 15 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN PARTNERS INC.
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x] see Item 5
(b) [_]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
AF, 00 (See Item 3)
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF Not Applicable
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING 3,961,102 (See Item 5)
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
Not Applicable
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
3,961,102 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,961,102/4/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.9% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
- --------
/4/ Includes 2,917,573 shares of Common Stock issuable upon conversion of
2,806,060 shares of Preferred Stock that may be deemed to be beneficially owned
by the Reporting Person.
<PAGE>
SCHEDULE 13D
CUSIP No.57383M 10 8 Page 7 of 15 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ELYSSA DICKSTEIN, JEFFREY SCHWARZ, AND ALAN COOPER AS TRUSTEES
U/T/A/D/ 12/27/88, MARK DICKSTEIN, GRANTOR
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x] see Item 5
(b) [_]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
PF, 00 (See Item 3)
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING Not Applicable
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
Not Applicable
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No.57383M 10 8 Page 8 of 15 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MARK DICKSTEIN AND ELYSSA DICKSTEIN, AS TRUSTEES OF THE MARK AND
ELYSSA DICKSTEIN FOUNDATION
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x] see Item 5
(b) [_]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
PF, 00 (See Item 3)
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING Not Applicable
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
Not Applicable
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No.57383M 10 8 Page 9 of 15 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MARK DICKSTEIN
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x] see Item 5
(b) [_]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
PF, AF (See Item 3)
- --------------------------------------------------------------------------------
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 16,667 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING 3,961,102 (See Item 5)
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
16,667 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
3,961,102 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,977,769/5/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.9% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- --------
/5/ Includes 2,917,573 shares of Common Stock issuable upon conversion of
2,808,060 shares of Preferred Stock that may be deemed to be beneficially owned
by the Reporting Person and 6,667 shares of Common Stock issuable upon exercise
of options held by the Reporting Person.
<PAGE>
SCHEDULE 13D
CUSIP No.57383M 10 8 Page 10 of 15 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ELYSSA DICKSTEIN
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x] see Item 5
(b) [_]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
PF, AF (See Item 3)
- --------------------------------------------------------------------------------
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 157,450 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING (See Item 5)
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
157,450 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
(See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
157,450/6/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- -------------
/6/ Consists of 157,450 shares of Common Stock that the Reporting Person has the
right to acquire upon conversion of 151,540 shares of Preferred Stock held by
the Reporting Person.
<PAGE>
Amendment No, 4
to
Schedule 13D
Introduction
This amends the Schedule 13D dated October 1, 1998 as amended by
Amendment No. 1 thereto, dated October 13, 1998, as amended by Amendment No. 2
thereto, dated March 4, 1999 and as amended by Amendment No. 3 thereto, dated
August 13, 1999 (the "Schedule 13D"), filed by Dickstein & Co., L.P. ("Dickstein
& Co."), Dickstein Focus Fund L.P. ("Dickstein Focus"), Dickstein International
Limited ("Dickstein International"), Dickstein Partners, L.P. ("Dickstein
Partners"), Dickstein Partners Inc. ("Dickstein Inc."), Elyssa Dickstein,
Jeffrey Schwarz, and Alan Cooper as Trustees U/T/A/D 12/27/88, Mark Dickstein,
Grantor (the "Dickstein Trust"), Mark Dickstein and Elyssa Dickstein, as
Trustees of the Mark and Elyssa Dickstein Foundation (the "Dickstein
Foundation"), Mark Dickstein and Elyssa Dickstein, with respect to the common
stock, $.01 par value (the "Common Stock"), of Marvel Enterprises, Inc., a
Delaware corporation (the "Company"). Dickstein & Co., Dickstein Focus,
Dickstein International, Dickstein Partners, Dickstein Inc., the Dickstein
Trust, the Dickstein Foundation, Mark Dickstein and Elyssa Dickstein are
collectively referred to as the "Reporting Persons." The Company's 8%
Convertible Exchangeable Preferred Stock is referred to as the "Preferred
Stock." Notwithstanding this Amendment No. 4, the Schedule 13D speaks as of its
respective dates.
I. Item 4 "Purpose of the Transaction" is amended by adding the
following paragraph:
"On October 4, 1999, Mark Dickstein resigned as a director of the
Issuer. Pursuant to the terms of the Stockholders' Agreement, Mr. Dickstein
designated Mr. Chaim Y. Edelstein as a successor nominee to serve as the
"Dickstein Designee" on the Company's Board of Directors."
II. Items 5(a) and 5(c) of the Schedule 13D "Interest in Securities of
the Issuer" are amended and restated as follows:
(a) The Reporting Persons beneficially own an aggregate of 4,135,219
shares of Common Stock, representing approximately 11.3%/7/ of the Common Stock
outstanding. Such shares are directly held by the Reporting Persons as follows:
<TABLE>
<CAPTION>
Common Stock Percentages of
Issuable Upon Common Stock
Conversion of Beneficially
Common Stock Preferred Stock Preferred Stock Owned
<S> <C> <C> <C> <C>
Dickstein & Co. 1,029,196 2,403,662 2,497,404 9.8%
Dickstein Focus * * * *
Dickstein International 14,333 404,398 420,169 1.3
Dickstein Trust -- * * *
Dickstein Foundation -- * * *
</TABLE>
- -----------
/7/ Percentages are based upon 33,532,222 shares of Common Stock reported
outstanding at August 27, 1999 in the Company's Proxy Statement dated September
3, 1999 for the 1999 Annual Meeting of Stockholders held on September 30, 1999.
11
<PAGE>
less than
Mark Dickstein 16,667/8/ -- -- 0.1
Elyssa Dickstein -- 151,540 157,450 0.5
Each share of Preferred Stock is convertible into 1.039 shares of Common Stock
(subject to certain anti-dilution adjustments), votes generally with the Common
Stock as a single class on the basis of the number of shares of Common Stock
into which it is convertible, and votes as a separate class on certain matters
as provided in the Company's Restated Certificate of Incorporation, to which
reference is made for a complete specification of the terms of the Preferred
Stock.
The following table sets forth the percentages of the outstanding
Common Stock, the outstanding Preferred Stock and the outstanding voting power
of the Company directly held by each of the Reporting Persons:
<TABLE>
<CAPTION>
Percentage
Percentage of Percentage of of Outstanding
Common Stock/9/ Preferred Stock/10/ Voting Power
<S> <C> <C> <C>
Dickstein & Co. 3.1% 13.1% 9.8%
Dickstein Focus -- -- --
Dickstein International less than 0.1 1.3 11.6
Dickstein Trust -- -- --
Dickstein Foundation -- -- --
Mark Dickstein less than 0.1 -- less than 0.1
Elyssa Dickstein -- 0.8 0.5
Total 3.1% 16.1% 12.5%
</TABLE>
(c) On October 4, the Reporting Persons sold an aggregate of 1,000,000
shares of Preferred Stock, in each case at a price of $6 3/8 per share in an
open market transaction as follows: Dickstein & Co. 215,400 shares, Dickstein
Focus 251,748 shares, Dickstein International 467,907 shares, Dickstein Trust
54,121 shares and Dickstein Foundation 10,824 shares.
The Company paid a regularly scheduled in-kind dividend on the
Preferred Stock on October 1, 1999 for the quarter ended September 30, 1999 to
the Reporting Persons as follows: Dickstein & Co., 51,354 shares; Dickstein
Focus, 4,936 shares; Dickstein International, 17,104.
- -----------
/8/ Includes 6,667 shares issuable upon exercise of options held by Mr.
Dickstein.
/9/ Based upon 33,532,222 shares of Common Stock outstanding. See the previous
footnote.
/10/ Based upon 18,311,276 shares of Preferred Stock outstanding following
payment of an in-kind dividend for the quarter ended September 30, 1999.
12
<PAGE>
shares; Dickstein Trust, 1,061 shares; Dickstein Foundation, 212 shares; and
Elyssa Dickstein, 2,971 shares.
Except as aforesaid and as set forth in previous amendments to the
Schedule 13D none of the persons identified in Item 2 has effected any
transactions in the Common Stock during the past 60 days.
13
<PAGE>
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: October 5, 1999
DICKSTEIN & CO., L.P.
By: Alan S. Cooper, as Vice President of
Dickstein Partners Inc., the general
partner of Dickstein Partners, L.P., the
general partner of Dickstein & Co., L.P.
By: /s/ Alan S. Cooper
-----------------------------
Name: Alan S. Cooper
DICKSTEIN FOCUS FUND L.P.
By: Alan S. Cooper, as Vice President of
Dickstein Partners Inc., the general
partner of Dickstein Partners, L.P., the
general partner of Dickstein Focus
Fund L.P.
By:/s/ Alan S. Cooper
-----------------------------
Name: Alan S. Cooper
DICKSTEIN INTERNATIONAL LIMITED
By: Alan S. Cooper, as Vice President of
Dickstein Partners Inc., the agent of
Dickstein International Limited
By: /s/ Alan S. Cooper
-----------------------------
Name: Alan S. Cooper
DICKSTEIN PARTNERS, L.P.
By: Alan S. Cooper, as Vice President of
Dickstein Partners Inc., the general
partner of Dickstein Partners, L.P.
By:/s/ Alan S. Cooper
------------------------------
Name: Alan S. Cooper
14
<PAGE>
DICKSTEIN PARTNERS INC.
By: Alan S. Cooper, as Vice President
By: /s/ Alan S. Cooper
-------------------
Name: Alan S. Cooper
MARK DICKSTEIN
By: /s/ Mark Dickstein
-------------------
Name: Mark Dickstein
ELYSSA DICKSTEIN
By: /s/ Elyssa Dickstein
-------------------
Name: Elyssa Dickstein
ELYSSA DICKSTEIN, JEFFREY SCHWARZ,
AND ALAN S. COOPER AS TRUSTEES U/T/A/D
12/27/88, MARK DICKSTEIN, GRANTOR
By: /s/ Alan S. Cooper
-------------------
Name: Alan S. Cooper
MARK DICKSTEIN AND ELYSSA DICKSTEIN
AS TRUSTEES OF THE MARK AND ELYSSA
DICKSTEIN FOUNDATION
By: /s/ Mark Dickstein
-------------------
Name: Mark Dickstein
15
