DEUTSCHE BANK AG\
SC 13G/A, 1999-03-11
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  ------------

                                 SCHEDULE 13G/A

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                                (Amendment No. 3)

                                   BUNZL PLC.
- --------------------------------------------------------------------------------
                                (Name of issuer)

                                  COMMON STOCK
- --------------------------------------------------------------------------------
                         (Title of class of securities)

                                   1207383076
- --------------------------------------------------------------------------------
                                 (CUSIP number)

                                  MARCH 4, 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)



<PAGE>




- ---------------------------------                                ---------------
      CUSIP No. 1207383076                     13G                              
- ---------------------------------                                ---------------



- -------- -----------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         Deutsche Bank A.G.
- -------- -----------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP              (a) |_|
                                                                       (b) |_|
- -------- -----------------------------------------------------------------------
3        SEC USE ONLY

- -------- -----------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION

         Federal Republic of Germany
- ---------------------------- ------ --------------------------------------------
NUMBER OF SHARES             5      SOLE VOTING POWER
                                    0
                             ------ --------------------------------------------
BENEFICIALLY OWNED BY               SHARED VOTING POWER
                             6      42,099,262
                             ------ --------------------------------------------
EACH REPORTING                      SOLE DISPOSITIVE POWER
                             7      0
                             ------ --------------------------------------------
PERSON WITH                         SHARED DISPOSITIVE POWER
                             8      48,086,695
- -------- -----------------------------------------------------------------------
 9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         48,086,695
- -------- -----------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES                                                    |_|
- -------- -----------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         10.6%
- -------- -----------------------------------------------------------------------
12       TYPE OF REPORTING PERSON

         HC, BK, CO
- -------- -----------------------------------------------------------------------


<PAGE>




- ---------------------------------                                ---------------
      CUSIP No. 1207383076                     13G                              
- ---------------------------------                                ---------------



- -------- -----------------------------------------------------------------------
   1     NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         Morgan Grenfell Asset Management Limited
- -------- -----------------------------------------------------------------------
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP              (a) |_|
                                                                       (b) |_|
- -------- -----------------------------------------------------------------------
   3     SEC USE ONLY

- -------- -----------------------------------------------------------------------
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         England and Wales
- ------------------------------ ------- -----------------------------------------
NUMBER OF SHARES                 5     SOLE VOTING POWER
                                       0
                               ------- -----------------------------------------
BENEFICIALLY OWNED BY                  SHARED VOTING POWER
                                 6     42,064,557
                               ------ ------------------------------------------
EACH REPORTING                         SOLE DISPOSITIVE POWER
                                 7     0
                               ------ ------------------------------------------
PERSON WITH                            SHARED DISPOSITIVE POWER
                                 8     48,051,990
- -------- -----------------------------------------------------------------------
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         48,051,990
- -------- -----------------------------------------------------------------------
  10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES                                                    |_|
- -------- -----------------------------------------------------------------------
  11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         10.6%
- -------- -----------------------------------------------------------------------
  12     TYPE OF REPORTING PERSON

         HC, IA
- -------- -----------------------------------------------------------------------


<PAGE>




- ---------------------------------                                ---------------
      CUSIP No. 1207383076                     13G                              
- ---------------------------------                                ---------------



- -------- -----------------------------------------------------------------------
   1     NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         Morgan Grenfell Investment Management Limited
- -------- -----------------------------------------------------------------------
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP              (a) |_|
                                                                       (b) |_|
- -------- -----------------------------------------------------------------------
   3     SEC USE ONLY

- -------- -----------------------------------------------------------------------
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         England and Wales
- ------------------------------ ------- -----------------------------------------
NUMBER OF SHARES                 5     SOLE VOTING POWER
                                       0
                               ------- -----------------------------------------
BENEFICIALLY OWNED BY                  SHARED VOTING POWER
                                 6     40,036,733
                               ------ ------------------------------------------
EACH REPORTING                        SOLE DISPOSITIVE POWER
                                 7    0
                               ------ ------------------------------------------
PERSON WITH                           SHARED DISPOSITIVE POWER
                                 8    45,967,766
- -------- -----------------------------------------------------------------------
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         45,967,766
- -------- -----------------------------------------------------------------------
  10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES                                                    |_|
- -------- -----------------------------------------------------------------------
  11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         10.1%
- -------- -----------------------------------------------------------------------
  12     TYPE OF REPORTING PERSON

         HC, IA
- -------- -----------------------------------------------------------------------
<PAGE>
ITEM 1(A).     NAME OF ISSUER:
               
               Bunzl Plc.(the "Issuer")

ITEM 1(B).     ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

               The address of the Issuer's  principal  executive  offices is 110
Park Street, London, W1Y 3RB, United Kingdom.

ITEM 2(A).     NAME OF PERSON FILING:

               This  statement is filed on behalf of Deutsche  Bank AG ("DBAG"),
Morgan Grenfell Asset Management Limited ("MGAM") and Morgan Grenfell Investment
Management  Limited  ("MGIM" and,  together with DBAG and MGAM,  the  "Reporting
Persons").  This Schedule 13G/A is being filed pursuant to Rule 13d-2(d) because
MGIM has  surpassed  the 10%  filing  threshold.  To avoid  confusion  as to the
aggregate beneficial ownership by DBAG and its subsidiaries,  DBAG and MGAM have
joined in this filing.

ITEM 2(B).     ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

               The  principal  place of  business  of DBAG is  Taunusanlage  12,
D-60325, Frankfurt am Main, Federal Republic of Germany.

               The  principal  place of business of MGAM is 20 Finsbury  Circus,
London, EC2M 1NB, England.

               The  principal  place of business of MGIM is 20 Finsbury  Circus,
London, EC2M INB, England.

ITEM 2(C).     CITIZENSHIP:

               The citizenship of each of the Reporting  Persons is set forth on
the applicable cover page.

ITEM 2(D).     TITLE OF CLASS OF SECURITIES:

               The  title of the  securities  is  common  stock,  which  also
includes  securities  held in the  form of  American  Depository  Receipts  (the
"Common Stock").

ITEM 2(E).     CUSIP NUMBER:

               The CUSIP  number of the Common  Stock is set forth on each cover
page.

ITEM 3.        IF THIS  STATEMENT  IS  FILED  PURSUANT  TO  RULES  13D-1(B),  OR
               13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:

               (a) |_|  Broker or dealer registered under section 15 of the Act;

               (b) |_|  Bank as defined in section 3(a)(6) of the Act;

               (c) |_|  Insurance  Company as defined in section 3(a)(19) of the
                        Act;

               (d) |_|  Investment  Company  registered  under  section 8 of the
                        Investment Company Act of 1940;

               (e) |_|  An  investment  adviser  in  accordance  with Rule 13d-1
                        (b)(1)(ii)(E);

               (f) |_|  An  employee   benefit  plan,   or  endowment   fund  in
                        accordance with Rule 13d-1 (b)(1)(ii)(F);

               (g) |_|  A parent holding company or control person in accordance
                        with Rule 13d-1 (b)(1)(ii)(G);

               (h) |_|  A savings  association as defined in section 3(b) of the
                        Federal Deposit Insurance Act;

               (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;

               (j) |_| Group, in accordance with Rule 13d-1 (b)(1)(ii)(J).

               If this statement is filed pursuant to Rule 13d-1 (c), check this
box. |X|

ITEM 4.        OWNERSHIP.

               (A)  AMOUNT BENEFICIALLY OWNED:

                    Each of the Reporting  Persons owns the amount of the Common
               Stock as set forth on the applicable cover page.

               (B)  PERCENT OF CLASS:

                    Each of the  Reporting  Persons owns the  percentage  of the
               Common Stock as set forth on the applicable cover page.

               (C)  NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:

                    (I)  SOLE POWER TO VOTE OR TO DIRECT THE VOTE:

                         Each of the  Reporting  Persons  has the sole  power to
                    vote or direct the vote of the Common  Stock as set forth on
                    the applicable cover page.

                   (II)  SHARED POWER TO VOTE OR TO DIRECT THE VOTE:

                         Each of the  Reporting  Persons has the shared power to
                    vote or direct the vote of the Common  Stock as set forth on
                    the applicable cover page.

                  (III)  SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF:

                         Each of the  Reporting  Persons  has the sole  power to
                    dispose or direct the disposition of the Common Stock as set
                    forth on the applicable cover page.

                   (IV)  SHARED  POWER TO  DISPOSE OR  TO DIRECT THE DISPOSITION
                         OF:

                         Each of the  Reporting  Persons has the shared power to
                    dispose or direct the disposition of the Common Stock as set
                    forth on the applicable cover page.

ITEM 5.        OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

               Not applicable.

ITEM 6.        OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

               Investment  management  clients of the Reporting Persons have the
ultimate right to any dividends from Common Stock and the proceeds from the sale
of Common Stock.

ITEM 7.        IDENTIFICATION   AND   CLASSIFICATION  OF  THE  SUBSIDIARY  WHICH
               ACQUIRED THE  SECURITY  BEING  REPORTED ON BY THE PARENT  HOLDING
               COMPANY.

               The  following  are  subsidiaries  of DBAG and/or MGAM which hold
Common  Stock  included  in the  figures  on the cover  pages:  Morgan  Grenfell
Investment  Services  Limited,  Morgan  Grenfell  International  Fund Management
Limited,  Morgan  Grenfell & Co. Ltd.,  Morgan  Grenfell  Investment  Management
Limited,  Morgan  Grenfell Trust  Management and Deutsche Morgan Grenfell (C.I.)
Limited.

ITEM 8.        IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

               Not applicable.

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>
                                    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.

Dated:  March 10, 1999



                                            DEUTSCHE BANK AG



                                            By: /s/ Dr. Dieter Eisele           
                                               ---------------------------------
                                               Name:   Dr. Dieter Eisele
                                               Title:  Group Head of Compliance



                                            By: /s/ Dr. Rainer Grimberg
                                               ---------------------------------
                                               Name:   Dr. Rainer Grimberg
                                               Title:  Vice President

                                                                       EXHIBIT 1
                                                                       ---------


               Consent of Morgan Grenfell Asset Management Limited
               ---------------------------------------------------


                  The  undersigned  agrees that the Schedule  13G/A  executed by
Deutsche  Bank AG to which this  statement is attached as an exhibit is filed on
behalf of Deutsche Bank AG, Morgan Grenfell Asset Management  Limited and Morgan
Grenfell  Investment  Management  Limited  pursuant to Rule  13d-1(f)(1)  of the
Securities Exchange Act of 1934.

Dated:  March 11, 1999



                                        MORGAN GRENFELL ASSET MANAGEMENT LIMITED


 
                                        By: /s/ William Slattery
                                           -----------------------------
                                           Name:   William Slattery
                                           Title:  Head of Business Risk

                                                                       EXHIBIT 2
                                                                       ---------


            Consent of Morgan Grenfell Investment Management Limited
            --------------------------------------------------------


                  The  undersigned  agrees that the Schedule  13G/A  executed by
Deutsche  Bank AG to which this  statement is attached as an exhibit is filed on
behalf of Deutsche Bank AG, Morgan Grenfell Asset Management  Limited and Morgan
Grenfell  Investment  Management  Limited  pursuant to Rule  13d-1(f)(1)  of the
Securities Exchange Act of 1934.

Dated:  March 11, 1999



                                   MORGAN GRENFELL INVESTMENT MANAGEMENT LIMITED



                                   By: /s/ William Slattery
                                      ------------------------------------------
                                      Name: William Slattery
                                      Title:  Head of Business Risk


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