- Amended Statement of Beneficial Ownership (SC 13D/A)
July 30 2009 - 4:41PM
Edgar (US Regulatory)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Under the Securities Exchange Act of 1934
(Amendment No. 10)*
Southern Union Company
(Name of Issuer)
Common Stock
(Title of Class of Securities)
844030106
(CUSIP Number)
Sandell Asset Management Corp.
40 West 57th Street
26th Floor
New York, NY 10019
Attention: Richard Gashler, General Counsel
212-603-5700
With a Copy to:
Marc Weingarten, Esq.
David Rosewater, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, NY 10019
212-756-2000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
July 28, 2009
(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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7 for other parties
to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 9 Pages)
* 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).
---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 2 of 9 Pages
---------------------------- ----------------------------
------------- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
Castlerigg Master Investments Ltd.
------------- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
------------- -----------------------------------------------------------------
3 SEC USE ONLY
------------- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC
------------- -----------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
------------- -----------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 8,751,966
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 8,751,966
------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,751,966
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
7.1%
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
------------- -----------------------------------------------------------------
|
---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 3 of 9 Pages
---------------------------- ----------------------------
------------- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
Sandell Asset Management Corp.
------------- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
------------- -----------------------------------------------------------------
3 SEC USE ONLY
------------- -----------------------------------------------------------------
4 SOURCE OF FUNDS
AF
------------- -----------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |X|
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
------------- -----------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 8,751,966
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 8,751,966
------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,751,966
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
7.1%
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
------------- -----------------------------------------------------------------
|
---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 4 of 9 Pages
---------------------------- ----------------------------
------------- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
Castlerigg International Limited
------------- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
------------- -----------------------------------------------------------------
3 SEC USE ONLY
------------- -----------------------------------------------------------------
4 SOURCE OF FUNDS
AF
------------- -----------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
------------- -----------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 8,751,966
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 8,751,966
------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,751,966
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
7.1%
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
------------- -----------------------------------------------------------------
|
---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 5 of 9 Pages
---------------------------- ----------------------------
------------- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
Castlerigg International Holdings Limited
------------- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
------------- -----------------------------------------------------------------
3 SEC USE ONLY
------------- -----------------------------------------------------------------
4 SOURCE OF FUNDS
AF
------------- -----------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
------------- -----------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 8,751,966
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 8,751,966
------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,751,966
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
7.1%
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
------------- -----------------------------------------------------------------
|
---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 6 of 9 Pages
---------------------------- ----------------------------
------------- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
Thomas E. Sandell
------------- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
------------- -----------------------------------------------------------------
3 SEC USE ONLY
------------- -----------------------------------------------------------------
4 SOURCE OF FUNDS
AF
------------- -----------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |X|
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Sweden
------------- -----------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 8,751,966
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 8,751,966
------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,751,966
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
7.1%
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
------------- -----------------------------------------------------------------
|
---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 7 of 9 Pages
---------------------------- ----------------------------
This Amendment No. 10 is filed with respect to the shares of the common
stock, par value $1.00 per share (the "Common Stock"), of Southern Union
Company, a Delaware corporation (the "Issuer"), beneficially owned by the
Reporting Persons (as defined below) as of July 29, 2009 and amends and
supplements the Schedule 13D filed on June 26, 2006, as heretofor amended
(collectively, the "Schedule 13D"). Except as set forth herein, the Schedule 13D
is unmodified.
ITEM 2. IDENTITY AND BACKGROUND
Paragraph (a) of Item 2 is hereby amended by deleting Nick Graziano, who is
no longer a reporting person for purposes of this Schedule 13D as he is no
longer affiliated with SAMC, and by deleting Castlerigg Global Select Fund,
Limited, CGS, Ltd., and Castlerigg GS Holdings, Ltd. (collectively with Mr.
Graziano, the "Former Reporting Persons"). These entities are no longer
reporting persons for purposes of this Schedule 13D as a result of the merger of
CGS, Ltd. into Castlerigg Master Investments.
Paragraphs (b), (c) and (f) are hereby amended by deleting any references
to all Former Reporting Persons that appear therein.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Paragraphs (a) through (c) of Item 5 of the Schedule 13D are hereby amended and
restated in the entirety as follows:
(a) Each of Castlerigg Master Investments, SAMC, Castlerigg International,
Castlerigg Holdings and Sandell (collectively, the "Reporting Persons") may be
deemed to beneficially own the 8,751,966 shares of Common Stock held by
Castlerigg Master Investments, representing approximately 7.1% of the
outstanding shares of Common Stock, and such parties may be deemed to be a
"group" with respect to such shares of Common Stock. The filing of this
statement on Schedule 13D and any future amendments hereto, and the inclusion of
information herein and therein, shall not be construed as an admission that any
of the Reporting Persons, for the purpose of Section 13(d) of the Act or
otherwise, is the beneficial owner of any shares of Common Stock which such
person does not own. The percentages used herein are based upon the 124,047,270
shares of Common Stock reported to be outstanding as of May 1, 2009 by the
Issuer in its quarterly report on Form 10-Q for the period ended March 31, 2009.
(b) None of the Reporting Persons has sole power to vote or direct the vote or
sole power to dispose or direct the disposition of shares of Common Stock. Each
of Castlerigg Master Investments, SAMC, Castlerigg International, Castlerigg
Holdings and Sandell has shared power to vote or direct the vote and shared
power to dispose or direct the disposition of the 8,751,966 shares of Common
Stock held by Castlerigg Master Investments.
(c) Information concerning transactions in the shares of Common Stock that were
effected by the Reporting Persons during the past sixty days is set forth on
Appendix I.
|
---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 8 of 9 Pages
---------------------------- ----------------------------
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: July 30, 2009
CASTLERIGG MASTER INVESTMENTS LTD.
By: Sandell Asset Management Corp.,
its Investment Manager
By: /s/ Thomas E. Sandell
---------------------
Thomas E. Sandell, Chief Executive Officer
CASTLERIGG INTERNATIONAL LIMITED
By: Sandell Asset Management Corp.,
its Investment Manager
By: /s/ Thomas E. Sandell
---------------------
Thomas E. Sandell, Chief Executive Officer
CASTLERIGG INTERNATIONAL HOLDINGS LIMITED
By: Sandell Asset Management Corp.,
its Investment Manager
By: /s/ Thomas E. Sandell
---------------------
Thomas E. Sandell, Chief Executive Officer
SANDELL ASSET MANAGEMENT CORP.
By: /s/ Thomas E. Sandell
---------------------
Thomas E. Sandell, Chief Executive Officer
/s/ Thomas E. Sandell
---------------------
Thomas E. Sandell
|
---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 9 of 9 Pages
---------------------------- ----------------------------
APPENDIX I
TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS
(All market transactions were effected on the New York Stock Exchange)
Castlerigg Master Investments
------------------------ ---------------------- --------------------------------
Date of Transaction Amount of Securities
Bought/ (Sold) Price per share or unit
------------------------ ---------------------- --------------------------------
06/17/09 (300,000) 17.31
------------------------ ---------------------- --------------------------------
06/17/09 (150,000) 17.32
------------------------ ---------------------- --------------------------------
06/17/09 (50,000) 17.27
------------------------ ---------------------- --------------------------------
06/18/09 (350,000) 17.22
------------------------ ---------------------- --------------------------------
06/18/09 (82,600) 17.19
------------------------ ---------------------- --------------------------------
06/25/09 (200,000) 17.37
------------------------ ---------------------- --------------------------------
07/21/09 (15,000) 18.88
------------------------ ---------------------- --------------------------------
07/21/09 (75,000) 18.93
------------------------ ---------------------- --------------------------------
07/28/09 (362,240) 19.61
------------------------ ---------------------- --------------------------------
07/29/09 (300,000) 19.15
------------------------ ---------------------- --------------------------------
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