================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. __)
-----------
TENNECO AUTOMOTIVE INC.
(Name of Issuer)
-----------
Common Stock, $0.01 par value per share 880349105
(Title of class of securities) (CUSIP number)
Gary K. Duberstein, Esq.
Greenway Partners, L.P.
277 Park Avenue, 27th Floor
New York, New York 10017
(212) 350-5100
(Name, address and telephone number of person authorized
to receive notices and communications)
August 1, 2000
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [_].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 17 pages)
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NY2:\953977\02\KG3D02!.DOC\56392.0004
<PAGE>
<TABLE>
<CAPTION>
-------------------------------------------------------------- -----------------------------------------------
CUSIP No. 880349105 13D Page 2 of 17 Pages
-------------------------------------------------------------- -----------------------------------------------
<S> <C>
---------------------------- ---------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENWAY PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3714238
OF ABOVE PERSON
---------------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
---------------------------- ---------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC, OO
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
---------------------------- ---------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
---------------------------- --- ------------------ ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 397,400
SHARES
--- ------------------ ----------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
--- ------------------ ----------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 397,400
REPORTING
--- ------------------ ----------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
---------------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 397,400
---------------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.2%
---------------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
---------------------------- ---------------------------------------------------------------------------------------------------
2
<PAGE>
-------------------------------------------------------------- -----------------------------------------------
CUSIP No. 880349105 13D Page 3 of 17 Pages
-------------------------------------------------------------- -----------------------------------------------
---------------------------- ---------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENTREE PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3752875
OF ABOVE PERSON
---------------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
---------------------------- ---------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC, OO
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
---------------------------- ---------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
---------------------------- --- ------------------ ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 231,000
SHARES
--- ------------------ ----------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
--- ------------------ ----------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 231,000
REPORTING
--- ------------------ ----------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
---------------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 231,000
---------------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (11): 0.7%
---------------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
---------------------------- ---------------------------------------------------------------------------------------------------
3
<PAGE>
-------------------------------------------------------------- -----------------------------------------------
CUSIP No. 880349105 13D Page 4 of 17 Pages
-------------------------------------------------------------- -----------------------------------------------
---------------------------- ---------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENHOUSE PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3793447
OF ABOVE PERSON
---------------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
---------------------------- ---------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC, AF, OO
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
---------------------------- ---------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
---------------------------- --- ------------------ ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
--- ------------------ ----------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 397,400
OWNED BY
--- ------------------ ----------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
--- ------------------ ----------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 397,400
---------------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 397,400
---------------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.2%
---------------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
---------------------------- ---------------------------------------------------------------------------------------------------
4
<PAGE>
-------------------------------------------------------------- -----------------------------------------------
CUSIP No. 880349105 13D Page 5 of 17 Pages
-------------------------------------------------------------- -----------------------------------------------
---------------------------- ---------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENHUT L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3793450
OF ABOVE PERSON
---------------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
---------------------------- ---------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC, AF, OO
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
---------------------------- ---------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
---------------------------- --- ------------------ ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
--- ------------------ ----------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 231,000
OWNED BY
--- ------------------ ----------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
--- ------------------ ----------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 231,000
---------------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 231,000
---------------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (11): 0.7%
---------------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
---------------------------- ---------------------------------------------------------------------------------------------------
5
<PAGE>
-------------------------------------------------------------- -----------------------------------------------
CUSIP No. 880349105 13D Page 6 of 17 Pages
-------------------------------------------------------------- -----------------------------------------------
---------------------------- ---------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENBELT CORP.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3791931
OF ABOVE PERSON
---------------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
---------------------------- ---------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC, OO
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
---------------------------- ---------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
---------------------------- --- ------------------ ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 1,980,100
SHARES
--- ------------------ ----------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
--- ------------------ ----------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 1,980,100
REPORTING
--- ------------------ ----------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
---------------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 1,980,100
---------------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 5.8%
---------------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
---------------------------- ---------------------------------------------------------------------------------------------------
6
<PAGE>
-------------------------------------------------------------- -----------------------------------------------
CUSIP No. 880349105 13D Page 7 of 17 Pages
-------------------------------------------------------------- -----------------------------------------------
---------------------------- ---------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENSEA OFFSHORE, L.P.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
---------------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
---------------------------- ---------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC, OO
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
---------------------------- ---------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Cayman Islands
---------------------------- --- ------------------ ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 204,000
SHARES
--- ------------------ ----------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
--- ------------------ ----------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 204,000
REPORTING
--- ------------------ ----------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
---------------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 204,000
---------------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.6%
---------------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
---------------------------- ---------------------------------------------------------------------------------------------------
7
<PAGE>
-------------------------------------------------------------- -----------------------------------------------
CUSIP No. 880349105 13D Page 8 of 17 Pages
-------------------------------------------------------------- -----------------------------------------------
---------------------------- ---------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENHUT OVERSEAS, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3868906
OF ABOVE PERSON
---------------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
---------------------------- ---------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC, AF, OO
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
---------------------------- ---------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
---------------------------- --- ------------------ ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
--- ------------------ ----------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 204,000
OWNED BY
--- ------------------ ----------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
--- ------------------ ----------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 204,000
---------------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 204,000
---------------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.6%
---------------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
---------------------------- ---------------------------------------------------------------------------------------------------
8
<PAGE>
-------------------------------------------------------------- -----------------------------------------------
CUSIP No. 880349105 13D Page 9 of 17 Pages
-------------------------------------------------------------- -----------------------------------------------
---------------------------- ---------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON ALFRED D. KINGSLEY
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
---------------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
---------------------------- ---------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF, AF, OO
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
---------------------------- ---------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
---------------------------- --- ------------------ ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 400,000
SHARES
--- ------------------ ----------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 2,812,500
OWNED BY
--- ------------------ ----------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 400,000
REPORTING
--- ------------------ ----------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,812,500
---------------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 3,212,500
---------------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.5%
---------------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------------- ---------------------------------------------------------------------------------------------------
9
<PAGE>
-------------------------------------------------------------- -----------------------------------------------
CUSIP No. 880349105 13D Page 10 of 17 Pages
-------------------------------------------------------------- -----------------------------------------------
---------------------------- ---------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON GARY K. DUBERSTEIN
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
---------------------------- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
---------------------------- ---------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------- ---------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF, AF, OO
---------------------------- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_]
---------------------------- ---------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
---------------------------- --- ------------------ ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
--- ------------------ ----------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 2,812,500
OWNED BY
--- ------------------ ----------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
--- ------------------ ----------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,812,500
---------------------------- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 2,812,500
---------------------------- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------------------- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.3%
---------------------------- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------------- ---------------------------------------------------------------------------------------------------
10
<PAGE>
ITEM 1. SECURITY AND ISSUER.
This Statement on Schedule 13D (this "Statement") relates
to the common stock, par value $0.01 per share (the "Shares"), of Tenneco
Automotive Inc., a Delaware corporation (the "Company"). The principal executive
offices of the Company are located at 500 North Field Drive, Lake Forest,
Illinois 60045.
ITEM 2. IDENTITY AND BACKGROUND.
This Statement is being filed by and on behalf of Greenway
Partners, L.P. ("Greenway"), Greentree Partners, L.P. ("Greentree"), Greenhouse
Partners, L.P. ("Greenhouse"), Greenhut, L.L.C. ("Greenhut"), Greenbelt Corp.
("Greenbelt"), Greensea Offshore, L.P. ("Greensea"), Greenhut Overseas, L.L.C.
("Greenhut Overseas"), Alfred D. Kingsley and Gary K. Duberstein (collectively,
the "Reporting Persons"). Each of Greenway, Greentree and Greenhouse is a
Delaware limited partnership. Each of Greenhut and Greenhut Overseas is a
Delaware limited liability company. Greenbelt is a Delaware corporation.
Greensea is an exempted limited partnership formed under the laws of the Cayman
Islands. The principal business of Greenway, Greentree and Greensea is investing
in securities. The principal business of Greenhouse is being the general partner
of Greenway. The principal business of Greenhut is being the general partner of
Greentree. The principal business of Greenhut Overseas is being the investment
general partner of Greensea. The principal business of Greenbelt is managing a
small number of accounts containing securities for which Greenbelt has voting
and dispositive power, and, consequently, is the beneficial owner. The present
principal occupation of each of Messrs. Kingsley and Duberstein is serving as
the general partners of Greenhouse and members of both Greenhut and Greenhut
Overseas. In addition, Mr. Kingsley is senior managing director, and Mr.
Duberstein is managing director, of both Greenway and Greentree. Also, Mr.
Kingsley is president, and Mr. Duberstein is vice president, secretary and
treasurer of Greenbelt. During the last five years, none of the Reporting
Persons has (i) been convicted in a criminal proceeding or (ii) been a party to
a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws. The business address of each of the
Reporting Persons (other than Greensea) is 277 Park Avenue, 27th Floor, New
York, New York 10017. The business address of Greensea is P.O. Box 1561, Mary
Street, Grand Cayman, Cayman Islands, British West Indies.
Messrs. Kingsley and Duberstein are both citizens of the
United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Greenway purchased an aggregate of 397,400 Shares for total
consideration (including brokerage commissions) of $2,660,286.00 derived from
the capital of Greenway and margin indebtedness from Bear Stearns & Co. Inc.
Greentree purchased an aggregate of 231,000 Shares for
total consideration (including brokerage commissions) of $1,429,367.50 derived
from the capital of Greentree and margin indebtedness from Bear Stearns & Co.
Inc.
Greensea purchased an aggregate of 204,000 Shares for total
consideration (including brokerage commissions) of $1,448,937.32 derived from
the capital of Greensea and margin indebtedness from Bear Stearns & Co. Inc.
Accounts managed by Greenbelt purchased an aggregate of
1,980,100 Shares for total consideration (including brokerage commissions) of
$12,276,433.44 derived from capital in the managed accounts and margin
indebtedness from Bear Stearns & Co. Inc., Fahnestock & Co. Inc. and Lehman
Brothers Inc.
11
<PAGE>
Kingsley purchased an aggregate of 400,000 Shares for total
consideration (including brokerage commissions) of $2,493,250.00 derived from
personal funds and margin indebtedness from Bear Stearns & Co. Inc.
ITEM 4. PURPOSE OF THE TRANSACTION
The Reporting Persons have acquired the Shares because, in
their opinion, such Shares are undervalued by the market at the present time
under the present circumstances.
The Reporting Persons my communicate with other
shareholders, management and their advisors and interested parties concerning
any matter relating to the business and affairs of the Company.
The Reporting Persons may from time to time (i) acquire
additional Shares (subject to availability at prices deemed favorable) in the
open market, in privately negotiated transactions or otherwise, or (ii) dispose
of Shares at prices deemed favorable in the open market, in privately negotiated
transactions or otherwise.
Except as set forth above, the Reporting Persons have no
plans or proposals that would result in or relate to any of the matters set
forth in subparagraphs (a) though (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of the date of this Statement, the Reporting Persons
beneficially owned in the aggregate 3,212,500 Shares constituting 9.5% of the
outstanding Shares (the percentage of Shares owned being based upon 33,978,558
Shares outstanding at March 31, 2000, as set forth in the Company's Quarterly
Report on Form 10-Q for the quarter ended March 31, 2000). The Reporting Persons
may be deemed to have direct beneficial ownership of Shares as follows:
Approximate
Name Number of Percentage of
---- Shares Outstanding Shares
------ ------------------
Greenway 397,400 1.2%
Greentree 231,000 0.7%
Greenbelt 1,980,100 5.8%
Greensea 204,000 0.6%
Kingsley 400,000 1.2%
Greenhouse, as the general partner of Greenway, may be
deemed to own beneficially (as that term is defined in Rule 13d-3 under the
Securities Exchange Act of 1934 (the "Exchange Act")) Shares of which Greenway
may be deemed to possess direct beneficial ownership. Each of Kingsley and
Duberstein, as general partners of Greenhouse, may be deemed to beneficially own
Shares which Greenhouse may be deemed to beneficially own. Each of Kingsley and
Duberstein disclaims beneficial ownership of such Shares for all other purposes.
Greenhut, as the general partner of Greentree, may be
deemed to own beneficially (as that term is defined in Rule 13d-3 under the
Exchange Act) Shares of which Greentree may be deemed to possess direct
beneficial ownership. Each of Kingsley and Duberstein, as members of Greenhut,
may be deemed to beneficially own Shares that Greenhut may be deemed to
beneficially own. Each of Kingsley and Duberstein disclaims beneficial ownership
of such Shares for all other purposes.
12
<PAGE>
Greenhut Overseas, as the investment general partner of
Greensea, may be deemed to own beneficially (as that term is defined in Rule
13d-3 under the Exchange Act) Shares of which Greensea may be deemed to possess
direct beneficial ownership. Each of Kingsley and Duberstein, as members of
Greenhut Overseas, may be deemed to beneficially own Shares that Greenhut
Overseas may be deemed to beneficially own. Each of Kingsley and Duberstein
disclaims beneficial ownership of such Shares for all other purposes.
Greenbelt has direct beneficial ownership of the Shares
that it manages. Each of Kingsley and Duberstein, as executive officers and
directors of Greenbelt, may be deemed to beneficially own Shares that Greenbelt
beneficially owns. Each of Kingsley and Duberstein hereby disclaims beneficial
ownership of such Shares for all other purposes.
(b) Greenway has the sole power to vote or direct the vote
of 397,400 Shares and the sole power to dispose or to direct the disposition of
such Shares. Greenhouse and Kingsley and Duberstein may be deemed to share with
Greenway the power to vote or to direct the vote and to dispose or to direct the
disposition of such Shares.
Greentree has the sole power to vote or direct the vote of
231,000 Shares and the sole power to dispose or direct the disposition of such
Shares. Greenhut and Kingsley and Duberstein may be deemed to share with
Greentree the power to vote or to direct the vote and to dispose or to direct
the disposition of such Shares.
Greensea has the sole power to vote or direct the vote of
204,000 Shares and the sole power to dispose or direct the disposition of such
Shares. Greenhut Overseas and Kingsley and Duberstein may be deemed to share
with Greensea the power to vote or to direct the vote and to dispose or to
direct the disposition of such Shares.
Greenbelt has the sole power to vote or direct the vote of
1,980,100 Shares and the sole power to dispose or direct the disposition of such
Shares. Kingsley and Duberstein may be deemed to share with Greenbelt the power
to vote or to direct the vote and to dispose or to direct the disposition of
such Shares.
Kingsley has the sole power to vote or direct the vote of
400,000 Shares and the sole power to dispose or direct the disposition of such
Shares.
(c) Information concerning transactions in the Shares by
the Reporting Persons during the past 60 days is set forth in Exhibit 1 attached
hereto, which is incorporated herein by reference.
(d) No other person is known to have the right to receive
or the power to direct the receipt of dividends from, or the proceeds from the
sale of, the Shares, except the dividends from, or proceeds from the sale of
Shares in each respective account managed by Greenbelt will be delivered into
each such respective account. None of such individual managed accounts has an
interest in more than five percent of the class of outstanding Shares.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
To the best of the knowledge of the Reporting Persons,
there are no contracts, arrangements, understandings or relationships (legal or
otherwise) among the Reporting Persons or between the Reporting Persons and any
other person with respect to any securities of the Company, including but not
limited to transfer or voting of any of the securities, finder's fees, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits,
division of profits or loss, or the giving or withholding of proxies, except as
follows: the respective partnership agreements of Greenway and Greentree each
contains provisions whereby its general partner (i.e., Greenhouse in the case of
Greenway and Greenhut in the case of Greentree) will receive annually a certain
percentage of realized and unrealized profits, if any, derived from the
partnership's investments. The agreements governing Greensea provide that
13
<PAGE>
Greenhut Overseas, as investment general partner, will receive annually a
certain percentage of realized and unrealized profits, if any, derived from
Greensea's investments. Greenbelt also receives annually a certain percentage of
realized and unrealized profits, if any, resulting from the investments in each
of its managed accounts.
14
<PAGE>
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The following Exhibits are filed herewith:
1. Information concerning transactions in the Shares
effected by the Reporting Persons in the last sixty days.
2. Joint Filing Agreement.
[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]
15
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of their knowledge
and belief, the undersigned certify that the information contained in this
Statement is true, complete and correct.
Dated: August 10, 2000
GREENHOUSE PARTNERS, L.P. GREENWAY PARTNERS, L.P.
By: Greenhouse Partners, L.P., its
By: /s/ Gary K. Duberstein general partner
------------------------------
Gary K. Duberstein, general
partner By: /s/ Gary K. Duberstein
-----------------------------
Gary K. Duberstein, general
partner
GREENHUT, L.L.C. GREENTREE PARTNERS, L.P.
By: Greenhut, L.L.C., its general
By: /s/ Gary K. Duberstein partner
-----------------------------
Gary K. Duberstein, Member By: /s/ Gary K. Duberstein
-----------------------------
Gary K. Duberstein, Member
GREENHUT OVERSEAS, L.L.C. GREENSEA OFFSHORE, L.P.
By: Greenhut Overseas, L.L.C., its
By: /s/ Gary K. Duberstein investment general partner
-----------------------------
Gary K. Duberstein, Member By: /s/ Gary K. Duberstein
-----------------------------
Gary K. Duberstein, Member
GREENBELT CORP.
By: /s/ Alfred D. Kingsley
---------------------------------
Alfred D. Kingsley, President
/s/ Alfred D. Kingsley
-------------------------------------
Alfred D. Kingsley
/s/ Gary K. Duberstein
-------------------------------------
Gary K. Duberstein
16
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
1. Information concerning transactions in the Shares effected by
the Reporting Persons in the last sixty days.
2. Joint Filing Agreement.
17
</TABLE>
