SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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)
March 2, 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 4,022,282 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING Not Applicable
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
4,022,282 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
Not Applicable
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,022,282/1/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [X]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.1% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
- --------
/1/ Includes 2,564,253 shares of Common Stock that the Reporting Person has the
right to acquire upon conversion of 2,468,001 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 417,101 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING Not Applicable
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
417,101 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
Not Applicable
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
417,101/2/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [X]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
- --------
/2/ Includes 246,481 shares of Common Stock that the Reporting Person has the
right to acquire upon conversion of 237,229 shares of Preferred Stock held by
the Reporting Person.
<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 993,019 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING Not Applicable
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
993,019 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
Not Applicable
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
993,019/3/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [X]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.9% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
- --------
/3/Includes 854,052 shares of Common Stock that the Reporting Person has the
right to acquire upon conversion of 821,994 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 4,439,383 (See Item 5)
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
Not Applicable
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
4,439,383 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,439,383/4/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [X]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.2% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
- --------
/4/ Includes 2,810,734 shares of Common Stock issuable upon conversion of
2,705,230 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 5,432,402 (See Item 5)
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
Not Applicable
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
5,432,402 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,432,402/5/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [X]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.6% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
- --------
/5/ Includes 3,664,786 shares of Common Stock issuable upon conversion of
3,527,224 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 52,989 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING Not Applicable
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
52,989 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
Not Applicable
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
52,989/6/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [X]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
- --------
/6/Represents shares of Common Stock issuable upon conversion of 51,000 shares
of Preferred Stock held by the Reporting Person.
<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 10,598 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING Not Applicable
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
10,598 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
Not Applicable
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,598/7/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [X]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
less than 0.1% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
- --------
/7/Represents shares of Common Stock issuable upon conversion of 10,200 shares
of Preferred Stock held by the Reporting Person.
<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 64,167 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING 5,443,000 (See Item 5)
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
64,167 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
5,443,000 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,507,167/8/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [X]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.8% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- --------
/8/ Includes 3,675,384 shares of Common Stock issuable upon conversion of
3,537,424 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 148,369 (See Item 5)
SHARES --------------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY
EACH REPORTING 63,587 (See Item 5)
PERSON --------------------------------------------------------------
WITH 9) SOLE DISPOSITIVE POWER
148,369 (See Item 5)
--------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
63,587 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
211,956/9/ (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Item 5) [X]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- --------
/9/ Consists of 148,369 shares of Common Stock that the Reporting Person has the
right to acquire upon conversion of 142,800 shares of Preferred Stock held by
the Reporting Person and 63,587 shares of Common Stock issuable upon conversion
of 61,200 shares of Preferred Stock that may be deemed to be beneficially owned
by the Reporting Person.
<PAGE>
Amendment No, 2
to
Schedule 13D
Introduction
This amends the Schedule 13D dated October 1, 1998 as amended by
Amendment No. 1 thereto, dated October 13, 1998 (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 2, the Schedule 13D speaks as of its
respective dates.
I. 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 5,708,525
shares of Common Stock, representing approximately 15.3%/10/ 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. 1,458,029 2,468,001 2,564,253 11.1%
Dickstein Focus 170,620 237,229 246,481 1.2
Dickstein International 138,967 821,994 854,052 2.9
Dickstein Trust -- 51,000 52,989 0.2
Dickstein Foundation -- 10,200 10,598 less than 0.1
- --------
/10/ Percentages are based upon 33,452,127 shares of Common Stock reported
outstanding at November 1, 1998 in the Company's Quarterly Report on Form 10-Q
for the quarter ended September 30, 1998 plus 90,000 shares granted to the
Company's non-employee directors on January 4, 1999.
11
<PAGE>
Mark Dickstein 64,167/11/ -- -- 0.2
Elyssa Dickstein -- 142,800 148,369 0.4
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:
Percentage
Percentage of Percentage of of Outstanding
Common Stock/12/ Preferred Stock/13/ Voting Power
Dickstein & Co. 4.4% 14.3% 7.8%
Dickstein Focus 0.5 1.4 0.8
Dickstein International 0.4 4.8 1.9
Dickstein Trust -- 0.3 0.1
Dickstein Foundation -- 0.1 less than 0.1
Mark Dickstein 0.2 -- 0.1
Elyssa Dickstein -- 0.8 0.3
Total 5.5% 21.7% 11.1%
</TABLE>
(c) On March 2, 1999, Dickstein Focus sold 25,000 shares of Common
Stock and Dickstein International sold 475,000 shares of Common Stock, in each
case at a price of $5 15/16 per share, in a privately negotiated transaction.
The Company paid a regularly scheduled in-kind dividend on the Preferred Stock
on January 4, 1999 for the quarter ended December 31, 1998 to the Reporting
Persons as follows: Dickstein & Co., 48,392 shares; Dickstein Focus, 4,652
shares; Dickstein International, 16,118
- --------
/11/ Includes 6,667 issuable upon exercise of options held by Mr. Dickstein.
/12/ Based upon 33,542,127 shares of Common Stock outstanding. See the previous
footnote.
/13/ Based upon 17,238,040 shares of Preferred Stock outstanding following
payment of an in-kind dividend for the quarter ended December 31, 1998.
12
<PAGE>
shares; Dickstein Trust, 1,000 shares; Dickstein Foundation, 200 shares; and
Elyssa Dickstein, 2,800 shares. On January 4, 1999, Mark Dickstein, in his
capacity as a director of the Company, was granted 10,000 shares of Common
Stock. Except as aforesaid, none of the persons identified in Item 2 has
effected any transactions in the Common Stock during the past 60 days.
II. Item 6 of the Schedule 13D, "Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer," is amended by adding
the following:
On November 11, 1998, Mr. Dickstein in his capacity as a director of
the Company was granted options to acquire 20,000 shares of Common Stock, at an
exercise price of $6.25, one-third of which options are immediately exercisable,
and the balance of which become exercisable in equal installments on the first
two anniversaries on the date of grant. The grant of the options was subject to
stockholder approval, which was obtained as of January 20, 1999.
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: March 4, 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
