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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
Agere Systems Inc.
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of class of securities)
00845V308
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(CUSIP number)
CLIFTON S. ROBBINS
BLUE HARBOUR GROUP, LP
240 GREENWICH AVENUE, 3RD FLOOR
GREENWICH, CONNECTICUT 06830
(203) 422-6540
AND
LEON G. COOPERMAN
88 PINE STREET
WALL STREET PLAZA - 31ST FLOOR
NEW YORK, NY 10005
(212) 495-5210
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(Name, address and telephone number of person authorized to receive
notices and communications)
December 18, 2006
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(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[ ].
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CUSIP No. 755267101 13D Page 2
-------------------------- --------------------------
---------------- --------------------------------------------------------
1 NAME OF REPORTING PERSON: Blue Harbour Group, LP
IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
56-2457376
---------------- --------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [_]
(b) [X]
---------------- --------------------------------------------------------
3 SEC USE ONLY
---------------- --------------------------------------------------------
4 SOURCE OF FUNDS N/A
---------------- --------------------------------------------------------
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
---------------- --------------------------------------------------------
7 SOLE VOTING POWER:
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER:
SHARES 6,732,547
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
6,732,547
---------------- --------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON: 6,732,547
---------------- --------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------- --------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
4.0%
---------------- --------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
---------------- --------------------------------------------------------
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CUSIP No. 755267101 13D Page 3
-------------------------- --------------------------
---------------- --------------------------------------------------------
1 NAME OF REPORTING PERSON: Blue Harbour Strategic Value
Partners Master Fund, LP
IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
98-0450159
---------------- --------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [_]
(b) [X]
---------------- --------------------------------------------------------
3 SEC USE ONLY
---------------- --------------------------------------------------------
4 SOURCE OF FUNDS WC
---------------- --------------------------------------------------------
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,
British West Indies
---------------- --------------------------------------------------------
7 SOLE VOTING POWER:
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER:
SHARES 5,428,185
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
5,428,185
---------------- --------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON: 5,428,185*
---------------- --------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------- --------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
3.2%
---------------- --------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
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* The aggregate amount in Row 11 excludes shares directly and
beneficially owned by Blue Harbour Institutional Partners Master
Fund, L.P.
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CUSIP No. 755267101 13D Page 4
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---------------- --------------------------------------------------------
1 NAME OF REPORTING PERSON: Blue Harbour Institutional
Partners Master Fund, L.P.
IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
98-0495357
---------------- --------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [_]
(b) [X]
---------------- --------------------------------------------------------
3 SEC USE ONLY
---------------- --------------------------------------------------------
4 SOURCE OF FUNDS WC
---------------- --------------------------------------------------------
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,
British West Indies
---------------- --------------------------------------------------------
7 SOLE VOTING POWER:
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER:
SHARES 1,304,362
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
1,304,362
---------------- --------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON: 1,304,362*
---------------- --------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------- --------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
0.8%
---------------- --------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
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* The aggregate amount in Row 11 excludes shares directly and
beneficially owned by Blue Harbour Strategic Value Partners
Master Fund, LP.
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CUSIP No. 755267101 13D Page 5
-------------------------- --------------------------
---------------- --------------------------------------------------------
1 NAME OF REPORTING PERSON: Blue Harbour GP, LLC
IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
20-1590782
---------------- --------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [_]
(b) [X]
---------------- --------------------------------------------------------
3 SEC USE ONLY
---------------- --------------------------------------------------------
4 SOURCE OF FUNDS N/A
---------------- --------------------------------------------------------
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
---------------- --------------------------------------------------------
7 SOLE VOTING POWER:
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER:
SHARES 6,732,547
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
6,732,547
---------------- --------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON: 6,732,547
---------------- --------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------- --------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
4.0%
---------------- --------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
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CUSIP No. 755267101 13D Page 6
-------------------------- --------------------------
---------------- --------------------------------------------------------
1 NAME OF REPORTING PERSON: Blue Harbour Holdings, LLC
IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
20-1590711
---------------- --------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [_]
(b) [X]
---------------- --------------------------------------------------------
3 SEC USE ONLY
---------------- --------------------------------------------------------
4 SOURCE OF FUNDS N/A
---------------- --------------------------------------------------------
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
---------------- --------------------------------------------------------
7 SOLE VOTING POWER:
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER:
SHARES 6,732,547
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
6,732,547
---------------- --------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON: 6,732,547
---------------- --------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------- --------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
4.0%
---------------- --------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
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CUSIP No. 755267101 13D Page 7
-------------------------- --------------------------
---------------- --------------------------------------------------------
1 NAME OF REPORTING PERSON: Clifton S. Robbins
IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
---------------- --------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [_]
(b) [X]
---------------- --------------------------------------------------------
3 SEC USE ONLY
---------------- --------------------------------------------------------
4 SOURCE OF FUNDS N/A
---------------- --------------------------------------------------------
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
of America
---------------- --------------------------------------------------------
7 SOLE VOTING POWER:
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER:
SHARES 6,732,547
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING 0
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
6,732,547
---------------- --------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON: 6,732,547
---------------- --------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------- --------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
4.0%
---------------- --------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
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CUSIP No. 755267101 13D Page 8
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---------------- --------------------------------------------------------
1 NAME OF REPORTING PERSON: Leon G. Cooperman
IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
---------------- --------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [_]
(b) [X]
---------------- --------------------------------------------------------
3 SEC USE ONLY
---------------- --------------------------------------------------------
4 SOURCE OF FUNDS N/A
---------------- --------------------------------------------------------
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
of America
---------------- --------------------------------------------------------
7 SOLE VOTING POWER:
3,425,200
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER:
SHARES 2,308,700
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING 3,425,200
PERSON WITH
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
2,308,700
---------------- --------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON: 5,733,900
---------------- --------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
---------------- --------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
3.4%
---------------- --------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
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This Amendment No. 2 (this "Amendment") amends the Statement on Schedule 13D
filed on May 1, 2006 (the "Original Filing") by Blue Harbour Strategic Value
Partners Master Fund, LP, a Cayman Islands exempted limited partnership (the
"Fund"), Blue Harbour GP, LLC, a Delaware limited liability company ("Fund GP"),
Blue Harbour Group, LP, a Delaware limited partnership ("Manager"), Blue Harbour
Holdings, LLC, a Delaware limited liability company ("Manager GP"), Clifton S.
Robbins, a citizen of the United States of America ("Mr. Robbins") and Leon G.
Cooperman, a citizen of the United States of America ("Mr. Cooperman", and
together with the Fund, Fund GP, Manager, Manager GP and Mr. Robbins, the
"Original Reporting Persons"), which Original Filing was subsequently amended by
an Amendment No. 1 filed on July 25, 2006 (the "First Amendment" and, together
with the Original Filing, the "Statement") by the Original Reporting Persons and
Blue Harbour Institutional Partners Master Fund, L.P., a Cayman Islands exempted
limited partnership ("BHIP", and together with the Fund, the "Funds", and
together with the Original Reporting Persons, the "Reporting Persons", and
together with the Fund, Fund GP, Manager, Manager GP and Mr. Robbins, the "Blue
Harbour Reporting Persons") and is filed by and on behalf of the Reporting
Persons with respect to the common stock, par value $0.01 per share ("Common
Stock"), of Agere Systems Inc., a Delaware corporation (the "Company"). Unless
otherwise indicated, all capitalized terms used herein have the meaning ascribed
to them in the Statement.
For the reasons stated in Item 4 hereof, the Blue Harbour Reporting Persons and
Mr. Cooperman have determined that they no longer desire, and have no plans, to
coordinate their actions with respect to their respective investments in the
Company. Consequently, the Blue Harbour Reporting Persons and Mr. Cooperman do
not intend to jointly file any further amendments to the Statement.
ITEM 2. IDENTITY AND BACKGROUND.
Item 2 of the Statement is hereby amended, with effect from the date of this
Amendment, by replacing the third paragraph of Item 2 with the following:
The Blue Harbour Reporting Persons and Mr. Cooperman do not have any
agreements or understandings between them relating to the acquisition,
disposition, holding or voting of Common Stock held by them and each expressly
disclaims beneficial ownership for all purposes of Common Stock held by the
others. Prior to the date hereof, the Blue Harbour Reporting Persons and Mr.
Cooperman had, on occasion, coordinated their market purchases of Common Stock
and call options to purchase Common Stock, but have no plans to do so in the
future. The Reporting Persons have filed this statement solely because they may
previously have been deemed to be a "group" for purposes of Section 13(d) of the
Securities Exchange Act of 1934, as amended (the "Act"), as a result of their
agreement to submit the May 1 Letter to the Company's Chief Executive Officer.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 of the Statement is hereby amended and restated in its entirety, with
effect from the date of this Amendment, as follows:
(1) The Blue Harbour Reporting Persons.
The 6,732,547 shares of Common Stock reported herein by the Blue
Harbour Reporting Persons were acquired by the Funds for an aggregate purchase
price of approximately $81,216,750. All such purchases of Common Stock by each
of the Funds were funded by the working capital of the respective Funds, which
9
may, at any given time, include margin loans made by brokerage firms in the
ordinary course of business.
(2) Leon G. Cooperman.
The 5,733,900 shares of Common Stock reported herein by Mr. Cooperman
were acquired for an aggregate purchase price of approximately $66,226,545.
All such purchases of Common Stock by Mr. Cooperman were funded by working
capital, which may, at any given time, include margin loans made by brokerage
firms in the ordinary course of business.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 of the Statement is hereby amended and restated in its entirety, with
effect from the date of this Amendment, as follows:
On May 1, 2006, Mr. Robbins and Mr. Cooperman sent the May 1 Letter to
the Company's Chief Executive Officer relating to value enhancing initiatives
available to the company. The Reporting Persons believe the Company has taken
under advisement many of the suggestions raised in the May 1 Letter and has
implemented initiatives which the Reporting Persons believe are likely to
achieve many of the goals outlined in that letter. On December 4, 2006, the
Company announced that it had entered into a definitive merger agreement with
LSI Logic Corporation.
In light of the foregoing, each of the Blue Harbour Reporting Persons
and Mr. Cooperman has determined that they no longer desire, and have no plans,
to coordinate their actions with respect to their respective investments in the
Company. In that regard, on December 18, 2006, the Original Reporting Persons
terminated that certain letter agreement, dated May 1, 2006, by and among the
Original Reporting Persons, which provided for the coordinated exchange of
information among the Original Reporting Persons in connection with the filing
of the Schedule 13D and amendments thereto.
The Blue Harbour Reporting Persons and Mr. Cooperman have determined
that they no longer have any agreements, arrangements or understandings that
could deem them to be a "group" (within the meaning of Section 13(d)(3) of the
Act) and, accordingly, they do not intend to jointly file any further amendments
to the Statement. None of the Blue Harbour Reporting Persons or Mr. Cooperman
beneficially owns more than five percent of the outstanding shares of Common
Stock based on the number of shares of Common Stock outstanding as of November
24, 2006 (the "Issued and Outstanding Shares").
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 of the Statement is hereby amended and restated in its entirety, with
effect from the date of this Amendment, as follows:
(1) The Blue Harbour Reporting Persons.
(a) The responses of the Blue Harbour Reporting Persons to Rows (11)
through (13) of the cover pages of this Schedule 13D are incorporated herein by
reference.
10
As of the close of business on the date hereof, the Fund beneficially
owns an aggregate of 5,428,185 shares of Common Stock, representing
approximately 3.2% of the shares of Common Stock based upon the Issued and
Outstanding Shares and BHIP beneficially owns an aggregate of 1,304,362 shares
of Common Stock, representing approximately 0.8% of the shares of Common Stock
based upon the Issued and Outstanding Shares. The Fund is the direct owner of
5,428,185 shares of Common Stock reported by the Blue Harbour Reporting Persons
on this Statement and BHIP is the direct owner of 1,304,362 shares of Common
Stock reported by the Blue Harbour Reporting Persons on this Statement. For
purposes of disclosing the number of shares beneficially owned by each of the
Blue Harbour Reporting Persons, Fund GP, as general partner of the Funds,
Manager, as the investment manager of the Funds, Manager GP as the general
partner of Manager, and Mr. Robbins, as controlling owner of Fund GP and Manager
GP (in addition to serving as Chief Executive Officer of Manager) may be deemed
to own beneficially (as that term is defined in Rule 13d-3 under the Act) all
shares of Common Stock that are owned beneficially and directly by the Funds.
Fund GP, Manager, Manager GP and Mr. Robbins disclaims beneficial ownership of
such shares for all other purposes.
(b) The responses of the Blue Harbour Reporting Persons to (i) Rows (7)
through (10) of the cover pages of this Statement and (ii) Item 5(a) hereof are
incorporated herein by reference.
(c) Except as set forth above or in the attached Schedule I (with
respect to the Blue Harbour Reporting Persons), no Blue Harbour Reporting Person
has effected any transaction in shares of Common Stock during the 60 days
preceding the date hereof. All such transactions were effected in the open
market, unless otherwise noted. The Funds have also entered into, and may from
time to time enter into, purchases and sales of shares of Common Stock with each
other.
(d) No other person is known by the Blue Harbour Reporting Persons 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 of Common Stock reported in this
Statement, except dividends from, or proceeds from the sale of, the shares of
Common Stock in the Fund and BHIP for which Manager acts as an investment
advisor, which may be distributed to the applicable limited partner entitled
thereto in accordance with their respective limited partnership interests in the
Fund and BHIP. No investment partnership or limited partner thereof has an
interest in the shares of Common Stock reported in this Statement representing
more than five percent of the Common Stock outstanding.
(e) Each of the Blue Harbour Reporting Persons and Mr. Cooperman
expressly disclaims beneficial ownership for all purposes of Common Stock held
by the others. For the reasons stated in Item 4 hereof, each of the Blue Harbour
Reporting Persons and Mr. Cooperman have determined that they no longer desire,
and have no plans, to coordinate their actions with respect to their respective
investments in the Company. Therefore, as of the date hereof, the Reporting
Persons do not intend to jointly file any further amendments to the Statement
reflecting aggregate beneficial ownership of more than five percent of the
shares of Common Stock.
(2) Leon G. Cooperman.
(a) As of the close of business on the date hereof, Mr. Cooperman may
be deemed the beneficial owner of 5,733,900 shares of Common Stock representing
approximately 3.4% of the shares of Common Stock based upon the Issued and
Outstanding Shares.
11
This consists of 1,621,000 shares of Common Stock owned by Capital LP;
563,200 shares of Common Stock owned by Equity LP; 175,200 shares of Common
Stock owned by Investors LP; 1,065,800 shares of Common Stock owned by Overseas;
and 2,308,700 shares of Common Stock owned by the Managed Accounts.
(b) The responses of Mr. Cooperman to (i) Rows (7) through (10) of the
cover pages of this Statement and (ii) Item 5(a) hereof are incorporated herein
by reference.
(c) Except as set forth above or in the attached Schedule II (with
respect to Mr. Cooperman and the foregoing entities controlled by him), none of
Mr. Cooperman or the foregoing entities controlled by him has effected any
transaction in shares of Common Stock during the 60 days preceding the date
hereof. All such transactions were effected in the open market, unless otherwise
noted.
(d) No other person is known by Mr. Cooperman or the foregoing entities
controlled by him 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 of
Common Stock reported in this Statement, except dividends from, or proceeds from
the sale of, the shares of Common Stock reported by the Managed Accounts may be
distributed to the applicable investors therein. No investment partnership or
limited partner thereof has an interest in the shares of Common Stock reported
in this Statement representing more than five percent of the Common Stock
outstanding.
(e) Each of the Blue Harbour Reporting Persons and Mr. Cooperman
expressly disclaims beneficial ownership for all purposes of Common Stock held
by the others. For the reasons stated in Item 4 hereof, each of the Blue Harbour
Reporting Persons and Mr. Cooperman have determined that they no longer desire,
and have no plans, to coordinate their actions with respect to their respective
investments in the Company. Therefore, each of the Blue Harbour Reporting
Persons and Mr. Cooperman do not own more than five percent of the shares of
Common Stock and will not be filing any further amendments to the Statement.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Item 6 of the Statement is hereby supplemented, with effect from the date of
this Amendment, by adding the following:
On December 18, 2006, the Original Reporting Persons terminated that
certain letter agreement, dated May 1, 2006, by and among the Original Reporting
Persons, which provided for the coordinated exchange of information among the
Original Reporting Persons in connection with the filing of the Schedule 13D and
amendments thereto.
12
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: December 18, 2006
BLUE HARBOUR GROUP, LP
By: Blue Harbour Holdings, LLC, its
general partner
By: /s/ Clifton S. Robbins
--------------------------------
Name: Clifton S. Robbins
Title: Managing Member
BLUE HARBOUR STRATEGIC VALUE
PARTNERS MASTER FUND, LP
By: Blue Harbour GP, LLC, its
general partner
By: /s/ Clifton S. Robbins
--------------------------------
Name: Clifton S. Robbins
Title: Managing Member
BLUE HARBOUR INSTITUTIONAL PARTNERS
MASTER FUND, L.P.
By: Blue Harbour GP, LLC, its
general partner
By: /s/ Clifton S. Robbins
--------------------------------
Name: Clifton S. Robbins
Title: Managing Member
BLUE HARBOUR GP, LLC
By: /s/ Clifton S. Robbins
--------------------------------
Name: Clifton S. Robbins
Title: Managing Member
BLUE HARBOUR HOLDINGS, LLC
By: /s/ Clifton S. Robbins
--------------------------------
Name: Clifton S. Robbins
Title: Managing Member
/s/ Clifton S. Robbins
------------------------------------
Clifton S. Robbins
13
LEON G. COOPERMAN, individually, as
Managing Member of Omega Associates,
L.L.C. on behalf of Omega Capital
Partners, L.P., Omega Capital Investors,
L.P., Omega Equity Investors, L.P., and
as President of Omega Advisors, Inc.
By: /s/ Alan M. Stark
------------------------------------
Name: Alan M. Stark
Title: Attorney-in-Fact
Power of Attorney on File
14
Schedule I
Transactions in Shares of Common Stock by Blue Harbour Reporting Persons
------------------ -------- ------------- ------------------- ------------------
REPORTING PERSON DATE TRANSACTION NUMBER OF SHARES OF PRICE PER SHARE
COMMON STOCK
------------------ -------- ------------- ------------------- ------------------
Fund 12/18/06 Purchase 25,000 $20.0179
------------------ -------- ------------- ------------------- ------------------
BHIP 12/18/06 Purchase 75,000 $20.0179
------------------ -------- ------------- ------------------- ------------------
15
Schedule II
Transactions in Shares of Common Stock by Leon G. Cooperman
------------------ ---------- ----------- --------------------- ----------------
REPORTING PERSON DATE TRANSACTION NUMBER OF SHARES OF PRICE PER SHARE
COMMON STOCK
------------------ ---------- ----------- --------------------- ----------------
Investors LP 12/18/06 Purchase 34,600 20.028
------------------ ---------- ----------- --------------------- ----------------
Overseas 12/18/06 Purchase 30,200 20.028
------------------ ---------- ----------- --------------------- ----------------
Managed Accounts 12/18/06 Purchase 35,200 20.028
------------------ ---------- ----------- --------------------- ----------------
16