ESL PARTNERS LP
SC 13G, 1999-07-16
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<PAGE>   1

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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                   Under the Securities Exchange Act of 1934*





                              McKesson HBOC, Inc.
- -------------------------------------------------------------------------------
                                (Name of Issuer)

                     Common Stock, par value $.01 per share
- -------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   58155Q103
- -------------------------------------------------------------------------------
                                 (CUSIP Number)

                                  July 6, 1999
- -------------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)



Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:             [ ] Rule 13d-1(b)
                               [X] Rule 13d-1(c)
                               [ ] Rule 13d-1(d)


* 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 the
disclosures provided in a prior cover page.

The information required in 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).




Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.



<PAGE>   2


                                  SCHEDULE 13G



- ---------------------                                        ------------------
CUSIP No. - 58155Q103                                        Page 2 of 15 Pages
- ---------------------                                        ------------------

<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
<S>          <C>
             NAME OF REPORTING PERSON
             S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      1
               ESL Partners, L.P., a Delaware limited partnership
               22-2875193
- -------------------------------------------------------------------------------
      2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP            (a) [X]
                                                                         (b) [ ]
- -------------------------------------------------------------------------------
      3      SEC USE ONLY

- -------------------------------------------------------------------------------
             CITIZENSHIP OR PLACE OR ORGANIZATION
      4
               Delaware
- -------------------------------------------------------------------------------
            NUMBER OF                 5       SOLE VOTING POWER
             SHARES                              7,163,140
                                    -------------------------------------------
          BENEFICIALLY                6       SHARED VOTING POWER
            OWNED BY                             0
                                    -------------------------------------------
              EACH                    7       SOLE DISPOSITIVE POWER
           REPORTING                             7,163,140
                                    -------------------------------------------
             PERSON                   8       SHARED DISPOSITIVE POWER
              WITH                               0
- -------------------------------------------------------------------------------
           9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     16,374,116
- -------------------------------------------------------------------------------
          10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
                     SHARES                                                  [ ]
- -------------------------------------------------------------------------------
          11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                     5.8%
- -------------------------------------------------------------------------------
          12       TYPE OF REPORTING PERSON
                     PN
- -------------------------------------------------------------------------------
</TABLE>


<PAGE>   3
- ---------------------                                        ------------------
CUSIP No. - 58155Q103                                        Page 3 of 15 Pages
- ---------------------                                        ------------------

<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
<S>          <C>
             NAME OF REPORTING PERSON
             S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      1
               ESL Limited, a Bermuda corporation
- -------------------------------------------------------------------------------
      2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP            (a) [X]
                                                                         (b) [ ]
- -------------------------------------------------------------------------------
      3      SEC USE ONLY

- -------------------------------------------------------------------------------
             CITIZENSHIP OR PLACE OR ORGANIZATION
      4
               Bermuda
- -------------------------------------------------------------------------------
                                      5       SOLE VOTING POWER
            NUMBER OF                            1,751,546
             SHARES                   -----------------------------------------
          BENEFICIALLY                6       SHARED VOTING POWER
            OWNED BY                             0
              EACH                    -----------------------------------------
           REPORTING                  7       SOLE DISPOSITIVE POWER
             PERSON                              1,751,546
              WITH                    -----------------------------------------
                                      8       SHARED DISPOSITIVE POWER
                                                 0
- -------------------------------------------------------------------------------
           9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     16,374,116
- -------------------------------------------------------------------------------
          10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
                     SHARES                                                  [ ]
- -------------------------------------------------------------------------------
          11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                     5.8%
- -------------------------------------------------------------------------------
          12       TYPE OF REPORTING PERSON
                     CO
- -------------------------------------------------------------------------------
</TABLE>


<PAGE>   4

- ---------------------                                        ------------------
CUSIP No. - 58155Q103                                        Page 4 of 15 Pages
- ---------------------                                        ------------------

<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
<S>          <C>
             NAME OF REPORTING PERSON
             S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      1
               ESL Institutional Partners, L.P., a Delaware limited partnership
               06-1456821
- -------------------------------------------------------------------------------
      2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP            (a) [X]
                                                                         (b) [ ]
- -------------------------------------------------------------------------------
      3      SEC USE ONLY

- -------------------------------------------------------------------------------
             CITIZENSHIP OR PLACE OR ORGANIZATION
      4
               Delaware
- -------------------------------------------------------------------------------
                                      5       SOLE VOTING POWER
            NUMBER OF                            232,098
             SHARES                   -----------------------------------------
          BENEFICIALLY                6       SHARED VOTING POWER
            OWNED BY                             0
              EACH                    -----------------------------------------
           REPORTING                  7       SOLE DISPOSITIVE POWER
             PERSON                              232,098
              WITH                    -----------------------------------------
                                      8       SHARED DISPOSITIVE POWER
                                                 0
- -------------------------------------------------------------------------------
           9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     16,374,116
- -------------------------------------------------------------------------------
          10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
                     SHARES                                                  [ ]
- -------------------------------------------------------------------------------
          11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                     5.8%
- -------------------------------------------------------------------------------
          12       TYPE OF REPORTING PERSON
                     PN
- -------------------------------------------------------------------------------
</TABLE>


<PAGE>   5

- ---------------------                                        ------------------
CUSIP No. - 58155Q103                                        Page 5 of 15 Pages
- ---------------------                                        ------------------

<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
<S>          <C>
             NAME OF REPORTING PERSON
             S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      1
               CBL Partners, L.P., a Delaware limited partnership
               06-1526810
- -------------------------------------------------------------------------------
      2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP            (a) [X]
                                                                         (b) [ ]
- -------------------------------------------------------------------------------
      3      SEC USE ONLY

- -------------------------------------------------------------------------------
             CITIZENSHIP OR PLACE OR ORGANIZATION
      4
               Delaware
- -------------------------------------------------------------------------------
            NUMBER OF                 5       SOLE VOTING POWER
             SHARES                              4,951,527
                                    -------------------------------------------
          BENEFICIALLY                6       SHARED VOTING POWER
            OWNED BY                             0
                                    -------------------------------------------
              EACH                    7       SOLE DISPOSITIVE POWER
           REPORTING                             4,951,527
                                    -------------------------------------------
             PERSON                   8       SHARED DISPOSITIVE POWER
              WITH                               0
- -------------------------------------------------------------------------------
           9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     16,374,116
- -------------------------------------------------------------------------------
          10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
                     SHARES                                                  [ ]
- -------------------------------------------------------------------------------
          11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                     5.8%
- -------------------------------------------------------------------------------
          12       TYPE OF REPORTING PERSON
                     PN
- -------------------------------------------------------------------------------
</TABLE>


<PAGE>   6


- ---------------------                                        ------------------
CUSIP No. - 58155Q103                                        Page 6 of 15 Pages
- ---------------------                                        ------------------

<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
<S>          <C>
             NAME OF REPORTING PERSON
             S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      1
               MSD Portfolio L.P. - Investments, a Delaware limited partnership
               13-4019104
- -------------------------------------------------------------------------------
      2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP            (a) [ ]
                                                                         (b) [X]
- -------------------------------------------------------------------------------
      3      SEC USE ONLY

- -------------------------------------------------------------------------------
             CITIZENSHIP OR PLACE OR ORGANIZATION
      4
               Delaware
- -------------------------------------------------------------------------------
                                      5       SOLE VOTING POWER
            NUMBER OF                            1,472,016
             SHARES                   -----------------------------------------
          BENEFICIALLY                6       SHARED VOTING POWER
            OWNED BY                             0
              EACH                    -----------------------------------------
           REPORTING                  7       SOLE DISPOSITIVE POWER
             PERSON                              1,472,016
              WITH                    -----------------------------------------
                                      8       SHARED DISPOSITIVE POWER
                                                 0
- -------------------------------------------------------------------------------
           9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     1,524,516*
- -------------------------------------------------------------------------------
          10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
                     SHARES                                                  [ ]
- -------------------------------------------------------------------------------
          11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                     0.5%*
- -------------------------------------------------------------------------------
          12       TYPE OF REPORTING PERSON
                     PN
- -------------------------------------------------------------------------------
</TABLE>



          *MSD disclaims beneficial ownership of all shares that are
          beneficially owned by ESL, Limited, Institutional, CBL and Ziff
          and the filing of this Schedule 13G shall not be construed as an
          admission beyond the scope of Section 13(d) of the Act that MSD
          is a member of a group with ESL, Limited, Institutional, CBL,
          and Ziff. All defined terms used herein are defined below.


<PAGE>   7


- ---------------------                                        ------------------
CUSIP No. - 58155Q103                                        Page 7 of 15 Pages
- ---------------------                                        ------------------

<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
<S>          <C>
             NAME OF REPORTING PERSON
             S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      1
               RPKS Investments, LLC, a Delaware limited liability company
               51-0381490
- -------------------------------------------------------------------------------
      2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP            (a) [ ]
                                                                         (b) [X]
- -------------------------------------------------------------------------------
      3      SEC USE ONLY

- -------------------------------------------------------------------------------
             CITIZENSHIP OR PLACE OR ORGANIZATION
      4
               Delaware
- -------------------------------------------------------------------------------
                                      5       SOLE VOTING POWER
            NUMBER OF                            26,250
             SHARES                   -----------------------------------------
          BENEFICIALLY                6       SHARED VOTING POWER
            OWNED BY                             0
              EACH                    -----------------------------------------
           REPORTING                  7       SOLE DISPOSITIVE POWER
             PERSON                              26,250
              WITH                    -----------------------------------------
                                      8       SHARED DISPOSITIVE POWER
                                                 0
- -------------------------------------------------------------------------------
           9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     1,524,516*
- -------------------------------------------------------------------------------
          10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
                     SHARES                                                  [ ]
- -------------------------------------------------------------------------------
          11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                     0.5%*
- -------------------------------------------------------------------------------
          12       TYPE OF REPORTING PERSON
                     OO
- -------------------------------------------------------------------------------
</TABLE>


          *RPKS disclaims beneficial ownership of all shares that are
          beneficially owned by ESL, Limited, Institutional, CBL and Ziff
          and the filing of this Schedule 13G shall not be construed as an
          admission beyond the scope of Section 13(d) of the Act that RPKS
          is a member of a group with ESL, Limited, Institutional, CBL,
          and Ziff. All defined terms used herein are defined below.


<PAGE>   8


- ---------------------                                        ------------------
CUSIP No. - 58155Q103                                        Page 8 of 15 Pages
- ---------------------                                        ------------------

<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
<S>          <C>
             NAME OF REPORTING PERSON
             S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      1
               Triple Marlin Investments, LLC, a Delaware limited company
               51-0381487
- -------------------------------------------------------------------------------
      2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP            (a) [ ]
                                                                         (b) [X]
- -------------------------------------------------------------------------------
      3      SEC USE ONLY

- -------------------------------------------------------------------------------
             CITIZENSHIP OR PLACE OR ORGANIZATION
      4
               Delaware
- -------------------------------------------------------------------------------
                                      5       SOLE VOTING POWER
                                                 26,250
            NUMBER OF                 -----------------------------------------
             SHARES                   6       SHARED VOTING POWER
          BENEFICIALLY                           0
            OWNED BY                  -----------------------------------------
              EACH                    7       SOLE DISPOSITIVE POWER
            REPORTING                            26,250
             PERSON                   -----------------------------------------
              WITH                    8       SHARED DISPOSITIVE POWER
                                                 0
- -------------------------------------------------------------------------------
           9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     1,524,516*
- -------------------------------------------------------------------------------
          10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
                     SHARES                                                  [ ]
- -------------------------------------------------------------------------------
          11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                     0.5%*
- -------------------------------------------------------------------------------
          12       TYPE OF REPORTING PERSON
                     OO
- -------------------------------------------------------------------------------
</TABLE>


           *Triple disclaims beneficial ownership of all shares that
           are beneficially owned by ESL, Limited, Institutional, CBL
           and Ziff and the filing of this Schedule 13G shall not be
           construed as an admission beyond the scope of Section 13(d)
           of the Act that Triple is a member of a group with ESL,
           Limited, Institutional, CBL, and Ziff. All defined terms
           used herein are defined below.


<PAGE>   9


- ---------------------                                        ------------------
CUSIP No. - 58155Q103                                        Page 9 of 15 Pages
- ---------------------                                        ------------------

<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
<S>          <C>
             NAME OF REPORTING PERSON
             S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      1
               Ziff Asset Management, L.P., a Delaware limited partnership
               13-3791746
- -------------------------------------------------------------------------------
      2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP            (a) [ ]
                                                                         (b) [X]
- -------------------------------------------------------------------------------
      3      SEC USE ONLY

- -------------------------------------------------------------------------------
             CITIZENSHIP OR PLACE OR ORGANIZATION
      4
               Delaware
- -------------------------------------------------------------------------------
            NUMBER OF                 5       SOLE VOTING POWER
             SHARES                              750,789
          BENEFICIALLY                6       SHARED VOTING POWER
            OWNED BY                             0
              EACH                    7       SOLE DISPOSITIVE POWER
           REPORTING                             750,789
             PERSON                   8       SHARED DISPOSITIVE POWER
              WITH                               0
- -------------------------------------------------------------------------------
           9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     750,789*
- -------------------------------------------------------------------------------
          10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
                     SHARES                                                  [ ]
- -------------------------------------------------------------------------------
          11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                     0.3%*
- -------------------------------------------------------------------------------
          12       TYPE OF REPORTING PERSON
                     PN
- -------------------------------------------------------------------------------
</TABLE>


           *Ziff disclaims beneficial ownership of all shares that are
           beneficially owned by ESL, Limited, Institutional, CBL, MSD,
           RPKS and Triple and the filing of this Schedule 13G shall not be
           construed as an admission beyond the scope of Section 13(d) of
           the Act that Ziff is a member of a group with ESL, Limited,
           Institutional, CBL, MSD, RPKS and Triple. All defined terms used
           herein are defined below.


<PAGE>   10

- ---------------------                                        -------------------
CUSIP No. - 58155Q103                                        Page 10 of 15 Pages
- ---------------------                                        -------------------


<TABLE>
<S>               <C>
Item 1(a)         Name of Issuer:

                  McKesson HBOC, Inc.

Item 1(b)         Address of Issuer's Principal Executive Offices:

                  One Post Street, McKesson Plaza
                  San Francisco, CA 94104

Item 2(a)         Names of Persons Filing:

                  ESL Partners, L.P.
                  ESL Limited
                  ESL Institutional Partners, L.P.
                  CBL Partners, L.P.
                  MSD Portfolio L.P. - Investments
                  RPKS Investments, LLC
                  Triple Marlin Investments, LLC
                  Ziff Asset Management, L.P.

Item 2(b)         Addresses of Principal Business Offices:

                  ESL Partners, L.P., ESL Institutional Partners, L.P., and CBL
                    Partners, L.P.:
                  One Lafayette Place
                  Greenwich, CT 06830

                  ESL Limited
                  Hemisphere House
                  9 Church Street
                  Hamilton, Bermuda

                  MSD Portfolio L.P. - Investments, RPKS Investments, LLC and
                    Triple Marlin Investments, LLC:
                  c/o MSD Capital L.P.
                  780 3rd Avenue
                  43rd Floor
                  New York, New York 10017

                  Ziff Asset Management, L.P.:
                  c/o PBK Holdings, Inc.
                  283 Greenwich Avenue
                  Third Floor
                  Greenwich, CT 06830
</TABLE>


<PAGE>   11

- ---------------------                                        -------------------
CUSIP No. - 58155Q103                                        Page 11 of 15 Pages
- ---------------------                                        -------------------

<TABLE>
<S>               <C>
Item 2(c)         Citizenship:

                  ESL Partners, L.P. -- Delaware
                  ESL Limited -- Bermuda
                  ESL Institutional Partners, L.P. -- Delaware
                  CBL Partners, L.P. -- Delaware
                  MSD Portfolio L.P. - Investments -- Delaware
                  RPKS Investments, LLC -- Delaware
                  Triple Marlin Investments, LLC -- Delaware
                  Ziff Asset Management, L.P. -- Delaware

Item 2(d)         Title of Class of Securities:

                  Common Stock, par value $.01 per share

Item 2(e)         CUSIP Number:

                  58155Q103

Item 3            Status of Persons Filing:

                  (a) [ ] Broker or dealer registered under section 15 of the
                          Act (15 U.S.C. 78o);
                  (b) [ ] Bank as defined in section 3(a)(6) of the Act
                          (15 U.S.C. 78c);
                  (c) [ ] Insurance company as defined in section 3(a)(19) of
                          the Act (15 U.S.C.78c);
                  (d) [ ] Investment company registered under section 8 of the
                          Investment Company Act of 1940 (15 U.S.C. 80a-8);
                  (e) [ ] An investment adviser in accordance with section
                          240.13d-1(b)(1)(ii)(E);
                  (f) [ ] An employee benefit plan or endowment fund in
                          accordance with section 240.13d-1(b)(1)(ii)(F);
                  (g) [ ] A parent holding company or control person in
                          accordance with section 240.13d-1(b)(1)(ii)(G);
                  (h) [ ] A savings association as defined in Section 3(b) of
                          the Federal Deposit Insurance Act (12 U.S.C. 1813);
                  (i) [ ] A church plan that is excluded from the definition of
                          an investment company under section 3(c)(14) of the
                          Investment Company Act of 1940 (15 U.S.C. 80a-3).
                  (j) [ ] Group, in accordance with section 40.13d-1(b)(1)(ii)(J).

Item 4            Ownership:

                  (a) Amount Beneficially Owned: 16,374,116 shares of Common
                      Stock.
</TABLE>


<PAGE>   12

- ---------------------                                        -------------------
CUSIP No. - 58155Q103                                        Page 12 of 15 Pages
- ---------------------                                        -------------------


                  This statement is filed on behalf of a group consisting of
                  ESL Partners, L.P., a Delaware limited partnership ("ESL"),
                  ESL Limited, a Bermuda corporation ("Limited"), ESL
                  Institutional Partners, L.P., a Delaware limited partnership
                  ("Institutional"), CBL Partners, L.P., a Delaware limited
                  partnership ("CBL"), MSD Portfolio L.P. - Investments, a
                  Delaware limited partnership ("MSD"), RPKS Investments, LLC,
                  a Delaware limited liability company ("RPKS"), Triple Marlin
                  Investments, LLC, a Delaware limited liability company
                  ("Triple") and Ziff Asset Management, L.P. ("Ziff"). The
                  general partner of ESL is RBS Partners, L.P. (the "General
                  Partner"). The general partner of the General Partner is ESL
                  Investments, Inc., a Delaware corporation ("Investments").
                  ESL Investment Management, LLC, a Delaware limited liability
                  company, is the investment manager of Limited. RBS Investment
                  Management, LLC, a Delaware limited liability company, is the
                  general partner of Institutional. Investments is the general
                  partner of CBL. MSD Capital, L.P., a Delaware limited
                  partnership ("MSD Capital"), is the general partner of MSD.
                  Glenn Fuhrman and John Phelan are the managing principals of
                  MSD Capital. Glenn Fuhrman is the managing member of RPKS.
                  John Phelan is the managing member of Triple. PBK Holdings,
                  Inc., a Delaware corporation, is the general partner of Ziff.
                  In the aforementioned capacities, ESL, Limited,
                  Institutional, CBL, MSD, RPKS, Triple and Ziff each may be
                  deemed to be the beneficial owner of the shares of McKesson
                  HBOC, Inc. common stock ("Common Stock") beneficially owned
                  by the other members of the group; PROVIDED, HOWEVER, Ziff
                  disclaims beneficial ownership of all shares that are
                  beneficially owned by ESL, Limited, Institutional, CBL, MSD,
                  RPKS and Triple and the filing of this Schedule 13G shall not
                  be construed as an admission beyond the scope of Section
                  13(d) of the Act that Ziff is a member of a group with ESL,
                  Limited, Institutional, CBL, MSD, RPKS and Triple; PROVIDED
                  FURTHER, MSD, RPKS and Triple each disclaim beneficial
                  ownership of all shares that are beneficially owned by ESL,
                  Limited, Institutional, CBL and Ziff and the filing of this
                  Schedule 13G shall not be construed as an admission beyond
                  the scope of Section 13(d) of the Act that MSD, RPKS and
                  Triple are members of a group with ESL, Limited,
                  Institutional, CBL, and Ziff.

                  As of July 16, 1999, the members of the group beneficially
                  owned an aggregate of 16,374,116 shares of Common Stock as
                  follows: (i) ESL was the record owner of 7,163,140 shares of
                  Common Stock; (ii) Limited was the record owner of 1,751,546
                  shares of Common Stock; (iii) Institutional was the record
                  owner of 232,098 shares of Common Stock; (iv) CBL was the
                  record owner of 4,951,527 shares of Common Stock; (v) MSD was
                  the record owner of 1,472,016 shares of Common Stock; (vi)
                  RPKS was the record owner of 26,250 shares of Common Stock,
                  (vii) Triple was the record owner of 26,250 shares of Common
                  Stock and (viii) Ziff was the record owner of 750,789 shares
                  of Common Stock.


<PAGE>   13

- ---------------------                                        -------------------
CUSIP No. - 58155Q103                                        Page 13 of 15 Pages
- ---------------------                                        -------------------


                  (b)    Percent of Class: 5.8%.

                  (c) Number of shares as to which each person has:

                         (i)   sole power to vote or to direct the vote:

                                    See Item 5 of each cover page.

                         (ii)  shared power to vote or to direct the vote: 0

                         (iii) sole power to dispose or to direct the
                               disposition of:

                                    See Item 7 of each cover page.

                         (iv)  shared power to dispose or to direct the
                               disposition of: 0

Item 5            Ownership of 5% or Less of a Class:

                  Not applicable.

Item 6            Ownership of More than 5% on Behalf of Another Person:

                  Not applicable.

Item 7            Identification and Classification of the Subsidiary which
                  Acquired the Security Being Reported on By The Parent Holding
                  Company:

                  Not applicable

Item 8            Identification and Classification of Members of the Group:

                  See Item 4(a).

Item 9            Notice of Dissolution of Group:

                  Not applicable

Item 10           Certification:

                  By signing below I certify that, to the best of my knowledge
                  and belief, the securities referred to above were not
                  acquired and are not held for the purpose of or with the
                  effect of changing or influencing the control of the issuer
                  of the securities and were not acquired and are not held in
                  connection with or as a participant in any transaction having
                  that purpose or effect.


<PAGE>   14

- ---------------------                                        -------------------
CUSIP No. - 58155Q103                                        Page 14 of 15 Pages
- ---------------------                                        -------------------


                                   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: July 16, 1999
                               ESL PARTNERS, L.P.

                               By:    RBS Partners, L.P., its general partner
                                      By:   ESL Investments, Inc., its general
                                            partner

                                      By:   /s/  Edward S. Lampert
                                            -----------------------------------
                                                 Edward S. Lampert
                                                 Chief Executive Officer

                               ESL LIMITED

                               By:    ESL Investment Management, LLC,
                                      its investment manager

                                      By:   /s/  Edward S. Lampert
                                            -----------------------------------
                                                 Edward S. Lampert
                                                 Managing Member

                               ESL INSTITUTIONAL PARTNERS, L.P.

                               By:    RBS Investment Management, LLC,
                                      its general partner

                                      By:   /s/  Edward S. Lampert
                                            -----------------------------------
                                                 Edward S. Lampert
                                                 Managing Member

                               CBL PARTNERS, L.P.

                               By:    ESL Investments, Inc., its general partner

                                      By:   /s/  Edward S. Lampert
                                            -----------------------------------
                                                 Edward S. Lampert
                                                 Chief Executive Officer


<PAGE>   15

- ---------------------                                        -------------------
CUSIP No. - 58155Q103                                        Page 15 of 15 Pages
- ---------------------                                        -------------------


                               MSD PORTFOLIO L.P. - INVESTMENTS

                               By:    MSD CAPITAL, L.P., its general partner

                                      By:   /s/  John Phelan
                                            -----------------------------------
                                                 John Phelan
                                                 Managing Principal

                               RPKS INVESTMENTS, LLC

                                      By:   /s/  Glenn Fuhrman
                                            -----------------------------------
                                                 Glenn Fuhrman
                                                 Managing Member

                               TRIPLE MARLIN INVESTMENTS, LLC

                                      By:   /s/  John Phelan
                                            -----------------------------------
                                                 John Phelan
                                                 Managing Member

                               ZIFF ASSET MANAGEMENT, L.P.

                               By:    PBK HOLDINGS, INC., its general partner

                                      By:   /s/  Mark A. Beaudoin
                                            -----------------------------------
                                                 Mark A. Beaudoin
                                                 Treasurer



<PAGE>   16



                                    EXHIBITS

Exhibit 1    Joint Filing Agreement, dated as of July 16, 1999, entered into
             by and among ESL Partners, L.P., ESL Limited, ESL Institutional
             Partners, L.P., CBL Partners, L.P., MSD Portfolio L.P. -
             Investments, RPKS Investments, LLC, Triple Marlin Investments, LLC
             and Ziff Asset Management, L.P.


<PAGE>   1


                                                                      EXHIBIT 1

                             JOINT FILING AGREEMENT

       In accordance with Rule 13d-1(k) promulgated under the Securities
Exchange Act of 1934, as amended, the persons named below agree to the joint
filing on behalf of each of them a Statement on Schedule 13G (including
amendments thereto) with regard to the common stock of McKesson HBOC, Inc., and
further agree that this Joint Filing Agreement be included as an Exhibit to
such joint filings. In evidence thereof, the undersigned, being duly
authorized, hereby execute this Agreement as of the 16th day of July, 1999.


                      ESL PARTNERS, L.P.

                      By:    RBS Partners, L.P., its general partner
                             By:   ESL Investments, Inc., its general partner

                                   By:      /s/  Edward S. Lampert
                                            ----------------------------------
                                                 Edward S. Lampert
                                                 Chief Executive Officer

                      ESL LIMITED

                      By:    ESL Investment Management, LLC,
                             its investment manager

                                   By:      /s/  Edward S. Lampert
                                            ----------------------------------
                                                 Edward S. Lampert
                                                 Managing Member

                      ESL INSTITUTIONAL PARTNERS, L.P.

                      By:    RBS Investment Management, LLC,
                             its general partner

                                   By:      /s/  Edward S. Lampert
                                            ----------------------------------
                                                 Edward S. Lampert
                                                 Managing Member


<PAGE>   2


                                                                      EXHIBIT 1


                        CBL PARTNERS, L.P.

                        By:    ESL Investments, Inc., its general partner

                               By:      /s/ Edward S. Lampert
                                        ---------------------------------------
                                            Edward S. Lampert
                                            Chief Executive Officer

                        MSD PORTFOLIO L.P. - INVESTMENTS

                        By:    MSD CAPITAL, L.P., its general partner

                               By:      /s/ John Phelan
                                        ---------------------------------------
                                            John Phelan
                                            Managing Principal

                        RPKS INVESTMENTS, LLC

                               By:      /s/ Glenn Fuhrman
                                        ---------------------------------------
                                            Glenn Fuhrman
                                            Managing Member

                        TRIPLE MARLIN INVESTMENTS, LLC

                               By:      /s/ John Phelan
                                        ---------------------------------------
                                            John Phelan
                                            Managing Member

                        ZIFF ASSET MANAGEMENT, L.P.

                        By:    PBK HOLDINGS, INC., its general partner

                               By:      /s/ Mark A. Beaudoin
                                        ---------------------------------------
                                            Mark A. Beaudoin
                                            Treasurer




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