0000902664-09-000020.txt : 20090107
<sec-header>0000902664-09-000020.hdr.sgml : 20090107
<acceptance-datetime>20090106173954
ACCESSION NUMBER: 0000902664-09-000020
CONFORMED SUBMISSION TYPE: SC 13D/A
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20090107
DATE AS OF CHANGE: 20090106
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: SOUTHERN UNION CO
CENTRAL INDEX KEY: 0000203248
STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION [4922]
IRS NUMBER: 750571592
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-20968
FILM NUMBER: 09511172
BUSINESS ADDRESS:
STREET 1: 5444 WESTHEIMER RD
CITY: HOUSTON
STATE: TX
ZIP: 77056-5306
BUSINESS PHONE: (713) 989-2000
MAIL ADDRESS:
STREET 1: 5444 WESTHEIMER RD
CITY: HOUSTON
STATE: TX
ZIP: 77056-5306
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: SANDELL ASSET MANAGEMENT CORP
CENTRAL INDEX KEY: 0001140474
IRS NUMBER: 000000000
STATE OF INCORPORATION: E9
FILING VALUES:
FORM TYPE: SC 13D/A
BUSINESS ADDRESS:
STREET 1: 40 WEST 57TH STREET
STREET 2: 26TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10019
BUSINESS PHONE: 2126035700
MAIL ADDRESS:
STREET 1: 40 WEST 57TH STREET
STREET 2: 26TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10019
</acceptance-datetime></sec-header>
<document>
<type>SC 13D/A
</type><sequence>1
</sequence><filename>p08-1726sc13da.txt
</filename><description>SOUTHERN UNION COMPANY
<text>
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. 8)*
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)
January 2, 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 10 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).
<page>
- ---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 2 of 10 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 10,636,806
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 10,636,806
- ------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,636,806
- ------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- ------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
8.6%
- ------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ------------- -----------------------------------------------------------------
</page><page>
- ---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 3 of 10 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 10,636,806
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 10,636,806
- ------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,636,806
- ------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- ------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
8.6%
- ------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ------------- -----------------------------------------------------------------
</page><page>
- ---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 4 of 10 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 10,636,806
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 10,636,806
- ------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,636,806
- ------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- ------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
8.6%
- ------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ------------- -----------------------------------------------------------------
</page><page>
- ---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 5 of 10 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 10,636,806
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 10,636,806
- ------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,636,806
- ------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- ------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
8.6%
- ------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ------------- -----------------------------------------------------------------
</page><page>
- ---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 6 of 10 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 10,636,806
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 10,636,806
- ------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,636,806
- ------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- ------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
8.6%
- ------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ------------- -----------------------------------------------------------------
</page><page>
- ---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 7 of 10 Pages
- ---------------------------- ----------------------------
- ------------- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
Nick Graziano
- ------------- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
- ------------- -----------------------------------------------------------------
3 SEC USE ONLY
- ------------- -----------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ------------- -----------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
- ------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------- -----------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 100
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 0
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 100
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
- ------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100
- ------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- ------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
Less than 0.1%
- ------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ------------- -----------------------------------------------------------------
</page><page>
- ---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 8 of 10 Pages
- ---------------------------- ----------------------------
This Amendment No. 8 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 January 5, 2009 and amends and supplements the Schedule
13D filed on June 26, 2006, as amended (collectively, the "Schedule 13D").
Except as set forth herein, the Schedule 13D is unmodified.
ITEM 2. IDENTITY AND BACKGROUND
Paragraph (c) of Item 2 is hereby supplemented as follows:
Updated information concerning the Instruction C persons is set forth on
Appendix III attached hereto.
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATION
Item 3 of the Schedule 13D is hereby amended and restated in its entirety as
follows:
Funds for the purchase of Common Stock reported herein to be held by
Castlerigg Master Investments were derived from working capital and margin
account borrowings made in the ordinary course of business. Funds for the
purchase of Common Stock reported herein to be held by the Nominee were derived
from the personal funds of the Nominee. A total of approximately $309,246,378
was paid to acquire the shares of Common Stock reported herein.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended by the addition of the following
immediately preceding the penultimate paragraph thereof:
As indicated in Item 5(c) below, on January 2, 2009, Castlerigg Master
Investments distributed approximately 1.3% of the outstanding shares of Common
Stock to certain of its direct and indirect investors who will now control such
shares directly. Castlerigg Master Investments continues to hold approximately
8.6% of the outstanding shares. As previously indicated, in December 2008
Castlerigg Master Investments delivered a notice to the Issuer informing the
Issuer of its intention to propose four nominees for election to the board of
directors at the Issuer's 2009 Annual Meeting, and the Reporting Persons
currently intend to conduct a proxy solicitation seeking to elect such nominees
to the Board at the 2009 Annual Meeting.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Paragraphs (a) and (c) of Item 5 of the Schedule 13D are hereby amended as
follows:
(a) Each of Castlerigg Master Investments, SAMC, Castlerigg International,
Castlerigg Holdings and Sandell may be deemed to beneficially own the
10,636,806 shares of Common Stock held by Castlerigg Master Investments,
representing approximately 8.6% of the outstanding shares of Common Stock. The
Reporting Persons, including the Nominee, may be deemed to be a "group," which
"group" may be deemed to beneficially own an aggregate of 10,636,906 shares of
Common Stock, representing approximately 8.6% of the outstanding shares of
Common Stock. However, the other Reporting Persons expressly disclaim beneficial
ownership of the shares of Common Stock beneficially owned by the Nominee, and
the Nominee expressly disclaims beneficial ownership of the shares of Common
Stock owned by the other Reporting Persons. 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 123,982,918 shares of Common
Stock reported to be outstanding as of October 31, 2008 by the Issuer in its
quarterly report on Form 10-Q for the period ended September 30, 2008.
</page><page>
- ---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 9 of 10 Pages
- ---------------------------- ----------------------------
(c) On January 2, 2009, Castlerigg Master Investments distributed 1,613,908
shares of Common Stock to certain of its direct and indirect investors. Such
distributions were effected for no consideration.
</page><page>
- ---------------------------- ----------------------------
CUSIP No. 844030106 SCHEDULE 13D/A Page 10 of 10 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: January 6, 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
/s/ Nick Graziano
---------------------
Nick Graziano
</page><page>
APPENDIX III
INFORMATION REGARDING THE INSTRUCTION C PERSONS
Castlerigg Master Investments, SAMC, Castlerigg International and Castlerigg
Holdings have no executive officers or directors other than as follows:
Sandell serves as an executive officer of SAMC.
Sandell Director Services LLC serves as a director of SAMC, Castlerigg Master
Investments, Castlerigg International and Castlerigg Holdings.
Daniel Mignon serves as a director of Castlerigg Master Investments, Castlerigg
International and Castlerigg Holdings.
Hilmi Unver serves as a director of Castlerigg Master Investments, Castlerigg
International and Castlerigg Holdings.
To the best of the Reporting Persons' knowledge, except as set forth in this
statement on Schedule 13D, none of the Instruction C Persons during the last
five years has been convicted in a criminal proceeding (excluding traffic
violations or other similar misdemeanors) or 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 violataions of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws. To the best of the Reporting Perons' knowledge, except as set forth
in this statement on Schedule 13D, none of the Instruction C Persons owns any
shares of Common Stock.
Name Principal Occupation Address Citizenship
- -------------------------------------------------------------------------------
Thomas E. Sandell See Item 2 See Item 2 See Item 2
- -------------------------------------------------------------------------------
Sandell Director Director Services c/o Sandell Asset Delaware
Management Corp.
40 West 57th Street,
26th Floor
New York, New York
10019
- -------------------------------------------------------------------------------
Daniel Mignon Executive of an Le Prince de Galles Belgium
investment manager 10 Avenue de Grande-
Bretagne
MC-98000 Monte-Carlo
Monaco
- -------------------------------------------------------------------------------
Hilmi Unver Portfolio Manager 98 rue de Saint-Jean Switzerland
case postale 5240
CH-1211 Geneve 11
Switzerland
- -------------------------------------------------------------------------------
Timothy O'Brien Chief Financial 40 West 57th Street United
Officer of SAMC 26th Floor States
New York, New York
10019
- -------------------------------------------------------------------------------
Richard Gashler General Counsel 40 West 57th Street United
of SAMC 26th Floor States
New York, New York
10019
- -------------------------------------------------------------------------------
</page></text>
</description></document>
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