UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
WADDELL & REED FINANCIAL, INC.
------------------------------
(Name of Issuer)
Class A Common Stock, Par Value $0.01
Class B Common Stock, Par Value $0.01
-------------------------------------
(Title of Class of Securities)
930059100
930059209
---------
(CUSIP Number)
Murray A. Indick
Richard C. Blum & Associates, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 9, 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(b)(3) or (4), check the following
box [ ].
*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
disclosures provided in a prior cover page.
The information required on 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).
Page 1 of 11
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 2 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Common Stock 3,766,600**
BENEFICIALLY Class B Common Stock 2,064,700**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 3,766,600**
Class B Common Stock 2,064,700**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 3,766,600**
Class B Common Stock 2,064,700**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 11.8%**
Class B Common Stock 6.0%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 3 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Common Stock 3,766,600**
BENEFICIALLY Class B Common Stock 2,064,700**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 3,766,600**
Class B Common Stock 2,064,700**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 3,766,600**
Class B Common Stock 2,064,700**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 11.8%**
Class B Common Stock 6.0%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 4 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RCBA GP, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3303831
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
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 -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Common Stock 3,766,600**
BENEFICIALLY Class B Common Stock 2,064,700**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 3,766,600**
Class B Common Stock 2,064,700**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 3,766,600**
Class B Common Stock 2,064,700**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 11.8%**
Class B Common Stock 6.0%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 5 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM
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) [x]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3 below
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A.
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Common Stock 3,766,600**
BENEFICIALLY Class B Common Stock 2,064,700**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 3,766,600**
Class B Common Stock 2,064,700**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 3,766,600**
Class B Common Stock 2,064,700**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 11.8%**
Class B Common Stock 6.0%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 6 of 11
This Amendment No. 4 amends the Statement on Schedule 13D (the "Schedule 13D")
filed with the Securities and Exchange Commission (the "Commission") on
November 19, 1998 by Richard C. Blum & Associates, L.P., a California limited
partnership ("RCBA L.P."); Richard C. Blum & Associates, Inc., a California
corporation ("RCBA Inc."); RCBA GP, L.L.C., a Delaware limited liability
company ("RCBA GP"); and Richard C. Blum, the Chairman and a substantial
shareholder of RCBA Inc. and a managing member of RCBA GP (collectively, the
"Reporting Persons"). This Amendment No. 4 relates to the shares of Class A
Common Stock, par value $0.01, and Class B Common Stock, par value $0.01,
(collectively, the "Common Stock"). The principal executive office and
mailing address of the Issuer is 6300 Lamar Avenue, Overland Park, Kansas
66202. The following amendments to Items 3, 4, 5 and 6 of the Schedule 13D are
hereby made. Unless otherwise defined herein, all capitalized terms shall have
the meanings ascribed to them in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration
- ----------------------------------------------------------
Item 3 of the Schedule 13D is hereby amended to include the shares of the
Class B Common Stock as follows:
The source of funds for the purchases of the Common Stock was the working
capital of RCBA L.P.'s limited partnerships and investment advisory client
accounts and the partnership for which RCBA GP serves as the sole general
partner.
Item 4. Purpose of Transaction
- -------------------------------
Item 4 of the Schedule 13D is hereby amended to include the shares of the
Class B Common Stock as follows:
The purpose of the acquisition of the Common Stock is for investment, and the
acquisitions of the Common Stock were made in the ordinary course of business
and were not made for the purpose of acquiring control of the Issuer.
Although no Reporting Person has any specific plan or proposal to acquire or
dispose of the Common Stock, consistent with its investment purpose, each
$eporting Person at any time and from time to time may acquire additional
Common Stock or dispose of any or all of its Common Stock depending upon an
ongoing evaluation of the investment in the Common Stock, prevailing market
conditions, other investment opportunities, liquidity requirements of the
Reporting Persons and/or other investment considerations.
Also, consistent with the investment purpose, the Reporting Persons may engage
in communications with one or more shareholders of the Issuer, one or more
officers of the Issuer and/or one or more members of the board of directors of
the Issuer and/or one or more representatives of the Issuer regarding the
Issuer, including but not limited to its operations. The Reporting Persons
may discuss ideas that, if effected may result in any of the following: the
acquisition by persons of additional Common Stock of the Issuer, an
extraordinary corporate transaction involving the Issuer, and/or changes in
the board of directors or management of the Issuer.
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 7 of 11
Except to the extent the foregoing may be deemed a plan or proposal, none of
the Reporting Persons has any plans or proposals which relate to, or could
result in, any of the matters referred to in paragraphs (a) through (j),
inclusive, of the instructions to Item 4 of Schedule 13D. The Reporting
Persons may, at any time and from time to time, review or reconsider their
position and/or change their purpose and/or formulate plans or proposals with
respect thereto.
Item 5. Interest in Securities of the Issuer
- ---------------------------------------------
Item 5 of the Schedule 13D is hereby amended as follows:
(a),(b) According to the Issuer's most recent Form 10-Q, as of September 30,
1998, there were 31,875,374 shares of the Class A Common Stock issued and
outstanding and 34,325,000 shares of the Class B Common Stock issued and
outstanding. Based on such information, after taking into account the
transactions described in Item 5(c) below, the Reporting Persons report direct
holdings as follows: (i) RCBA L.P. and RCBA Inc. report holdings of 2,076,100
shares of the Class A Common Stock (6.5% of the Class A Common Stock shares
outstanding) and 677,600 shares of the Class B Common Stock (2.0% of the Class
B Common Stock shares outstanding) on behalf of the limited partnerships for
which RCBA L.P. serves as the general partner and RCBA L.P.'s investment
advisory client accounts; (ii) RCBA GP reports holdings of 1,390,500 shares of
the Class A Common Stock (4.4% of the Class A Common Stock shares outstanding)
and 1,245,900 shares of the Class B Common Stock (3.6% of the Class B Common
Stock shares outstanding) on behalf of the limited partnership for which it
serves as the general partner; and (iii) Mr. Blum reports the aggregate of
these shares for a total of 3,466,600 shares of the Class A Common Stock
(11.8% of the Class A Common Stock shares outstanding) and 1,923,500 shares of
the Class B Common Stock (5.6% of the Class B Common Stock shares
outstanding).
In addition, because RCBA L.P. has voting and investment power with respect to
300,000 shares of the Class A Common Stock and 141,200 shares of the Class B
Common Stock that are legally owned by The Common Fund for the account of its
Equity Fund ("The Common Fund"), those shares are reported as beneficially
owned by RCBA L.P. The Common Fund is principally engaged in the business of
managing investments for educational institutions. The principal
administrative office of The Common Fund is located at 450 Post Road East,
Westport, Connecticut 06881-0909. The Common Fund disclaims membership in a
group with any of the Reporting Persons, and disclaims beneficial ownership of
any shares held by the Reporting Persons.
Voting and investment power concerning the above shares are held solely by
RCBA L.P and RCBA GP. The Reporting Persons therefore may be deemed to be
members in a group, in which case each Reporting Person would be deemed to
have beneficial ownership of an aggregate of 3,766,600 shares of the Class A
Common Stock (11.8%) and 2,064,700 shares of the Class B Common Stock (6.0%).
As the sole general partner of RCBA L.P., RCBA Inc. is deemed the beneficial
owner of the securities over which RCBA L.P. has voting and investment power.
As Chairman and a substantial shareholder of RCBA Inc., Richard C. Blum might
be deemed to be the beneficial owner of the securities beneficially owned by
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 8 of 11
RCBA Inc. Additionally, Mr. Blum may be deemed to be the beneficial owner of
the securities over which RCBA GP has voting and investment power. Although
Mr. Blum is joining in this Schedule as a Reporting Person, the filing of this
Schedule shall not be construed as an admission that he, or any of the other
shareholders, directors or executive officers of RCBA Inc., or managing
members and members of RCBA GP, is, for any purpose, the beneficial owner of
any of the securities that are beneficially owned by RCBA Inc or RCBA GP,
except to the extent of any pecuniary interest therein.
(c) During the last 60 days, the Reporting Persons purchased the following
shares of Common Stock in the open market:
Trade Date Class Shares Price/Share
- ---------- -------- ------- -----------
12-14-98 Class A 10,600 22.4009
12-14-98 Class B 31,000 22.4270
12-16-98 Class A 28,500 21.7873
12-16-98 Class B 50,000 21.6584
12-18-98 Class A 48,800 21.5000
12-22-98 Class A 18,500 22.9865
12-22-98 Class B 42,000 22.8869
12-23-98 Class B 76,500 22.9653
01-04-99 Class B 85,000 23.1250
01-04-99 Class B 25,000 23.3125
01-05-99 Class B 45,000 23.1528
01-07-99 Class B 112,000 23.1250
01-08-99 Class B 14,000 23.1250
01-11-99 Class B 25,000 23.1250
01-12-99 Class B 25,000 23.1250
01-13-99 Class B 200,000 22.5625
01-14-99 Class B 19,800 22.3750
01-14-99 Class B 46,700 22.5000
01-26-99 Class A 10,000 20.4438
01-26-99 Class B 98,300 20.4434
01-27-99 Class B 150,000 20.3750
01-29-99 Class B 15,000 20.7375
02-01-99 Class B 55,000 21.0000
02-02-99 Class B 7,000 21.0000
02-03-99 Class A 37,500 20.8158
02-03-99 Class B 100,000 20.9884
02-04-99 Class B 5,000 21.2500
02-05-99 Class B 10,000 21.2500
02-09-99 Class B 200,000 20.8958
02-10-99 Class A 21,400 21.2144
02-10-99 Class B 75,000 21.2037
02-11-99 Class A 25,000 20.9770
02-11-99 Class B 100,900 21.2433
02-12-99 Class A 50,000 20.9975
02-12-99 Class B 25,000 20.4605
(d) and (e) Not applicable.
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 9 of 11
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
- ------------------------------------------------------------------------------
Item 6 of the Schedule 13D is hereby amended to include the shares of the
Class B Common Stock as follows:
None of the Reporting Persons or, to the best knowledge of the Reporting
Persons, the other persons named in Item 2, is a party to any contract,
arrangement, understanding or relationship with respect to any securities of
the Issuer, including but not limited to the transfer or voting of any
securities of the Issuer, 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 (i) as previously
disclosed, or (ii) as noted above, RCBA L.P. has voting and investment power
of the shares held by it for the benefit of the Common Fund.
Item 7. Material to be Filed as Exhibits
- -----------------------------------------
Exhibit A Joint Filing Undertaking.
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 10 of 11
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: February 18, 1999
RICHARD C. BLUM & ASSOCIATES, INC. RICHARD C. BLUM & ASSOCIATES, L.P.
By Richard C. Blum & Associates, Inc.
its general partner
By /s/ Murray A. Indick By /s/ Murray A. Indick
------------------------------- -----------------------------------
Murray A. Indick Murray A. Indick
Managing Director, General Managing Director, General Counsel,
Counsel, Chief Administrative Chief Administrative Officer and
Officer and Secretary Secretary
RCBA GP, L.L.C. /s/ Murray A. Indick
---------------------------------------
RICHARD C. BLUM
By /s/ Murray A. Indick By Murray A. Indick, Attorney-in-Fact
-------------------------------
Murray A. Indick, Member
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 11 of 11
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: February 18, 1999
RICHARD C. BLUM & ASSOCIATES, INC. RICHARD C. BLUM & ASSOCIATES, L.P.
By Richard C. Blum & Associates, Inc.
its general partner
By /s/ Murray A. Indick By /s/ Murray A. Indick
------------------------------- -----------------------------------
Murray A. Indick Murray A. Indick
Managing Director, General Managing Director, General Counsel,
Counsel, Chief Administrative Chief Administrative Officer and
Officer and Secretary Secretary
RCBA GP, L.L.C. /s/ Murray A. Indick
---------------------------------------
RICHARD C. BLUM
By /s/ Murray A. Indick By Murray A. Indick, Attorney-in-Fact
-------------------------------
Murray A. Indick, Member
