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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 5)
ALLCITY INSURANCE COMPANY
(Name of Issuer)
COMMON SHARES, $1 PAR VALUE 016752107
(Title of class of securities) (CUSIP number)
ANDREA A. BERNSTEIN, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NY 10153
(212) 310-8000
(Name, address and telephone number of person authorized to
receive notices and communications)
JANUARY 15, 2003
(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 [_].
Check the following box if a fee is being paid with the statement [_].
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
Note: When filing this statement in paper format, six copies of this statement,
including exhibits, should be filed with the Commission. See Rule 13d-1(a) for
other parties to whom copies are to be sent.
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-------------------------------------------------------------------------- ----------------------------------------
CUSIP No. 016752107 13D
-------------------------------------------------------------------------- ----------------------------------------
--------------- ---------------------------------------------------------- --------------------------------------------------------
1 NAME OF REPORTING PERSON: LEUCADIA NATIONAL CORPORATION
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) [_]
--------------- -------------------------------------------------------------------------------------------------------------------
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: NEW YORK
--------------------------- -------- ----------------------------------------------------- ----------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
-------- ----------------------------------------------------- ----------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 6,458,808 (SEE ITEM 5)
OWNED BY
-------- ----------------------------------------------------- ----------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
-------- ----------------------------------------------------- ----------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 6,458,808 (SEE ITEM 5)
--------------- -------------------------------------------------------------------------- ----------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 6,458,808 (SEE ITEM 5)
--------------- ------------------------------------------------------------------------------------------------------------ ------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
--------------- ------------------------------------------------------------------------------------------------------------ ------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 91.2%
--------------- ---------------------------------------------------------- --------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
--------------- ---------------------------------------------------------- --------------------------------------------------------
2
-------------------------------------------------------------------------- ----------------------------------------
CUSIP No. 016752107 13D
-------------------------------------------------------------------------- ----------------------------------------
--------------- ---------------------------------------------------------- --------------------------------------------------------
1 NAME OF REPORTING PERSON: WMAC INVESTMENT CORPORATION
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) [_]
--------------- -------------------------------------------------------------------------------------------------------------------
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: WISCONSIN
--------------------------- -------- ----------------------------------------------------- ----------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
-------- ----------------------------------------------------- ----------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 299,370 (SEE ITEM 5)
OWNED BY
-------- ----------------------------------------------------- ----------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
-------- ----------------------------------------------------- ----------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 299,370 (SEE ITEM 5)
--------------- -------------------------------------------------------------------------- ----------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 299,370 (SEE ITEM 5)
--------------- ------------------------------------------------------------------------------------------------------------ ------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
--------------- ------------------------------------------------------------------------------------------------------------ ------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.2%
--------------- ---------------------------------------------------------- --------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
--------------- ---------------------------------------------------------- --------------------------------------------------------
3
------------------------------------------------------------------------------ --------------- ------------------------------------
CUSIP No. 016752107 13D
-----------------------------------------------------------------------------------------------------------------------------------
------------------- ---------------------------------------------------------- ----------------------------------------------------
1 NAME OF REPORTING PERSON: PHLCORP, INC.
------------------- -------------------------------------------------------------------------- ------------------------------------
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) [_]
------------------- ---------------------------------------------------------------------------------------------------------------
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: PENNSYLVANIA
------------------------------- --------- ---------------------------------------------------- ------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------------------- --------- ---------------------------------------------------- ------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 6,458,808 (SEE ITEM 5)
OWNED BY
------------------------------- --------- ---------------------------------------------------- ------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------------------------------- --------- ---------------------------------------------------- ------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 6,458,808 (SEE ITEM 5)
------------------- -------------------------------------------------------------------------- ------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 6,458,808 (SEE ITEM 5)
------------------- ------------------------------------------------------------------------------------------------------------- -
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ------------------------------------------------------------------------------------------------------------- -
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 91.2%
------------------- ---------------------------------------------------------- ----------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ---------------------------------------------------------- ----------------------------------------------------
4
---------------------------------------------------------------------------------- ---------------------------------
CUSIP No. 016752107 13D
---------------------------------------------------------------------------------- ---------------------------------
---------------------- ----------------------------------------------------------- ------------------------------------------------
1 NAME OF REPORTING PERSON: 330 MAD. PARENT CORP.
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) [_]
---------------------- ------------------------------------------------------------------------------------------------------------
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
----------------------------------- -------- ---------------------------------------------------- ---------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
-------- ---------------------------------------------------- ---------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 6,159,438 (SEE ITEM 5)
OWNED BY
-------- ---------------------------------------------------- ---------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
-------- ---------------------------------------------------- ---------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 6,159,438 (SEE ITEM 5)
---------------------- -------------------------------------------------------------------------- ---------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 6,159,438 (SEE ITEM 5)
---------------------- ------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
---------------------- ------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 87.0%
---------------------- ----------------------------------------------------------- ------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
---------------------- ----------------------------------------------------------- ------------------------------------------------
5
---------------------------------------------------------------------------------- ---------------------------------
CUSIP No. 016752107 13D
---------------------------------------------------------------------------------- ---------------------------------
---------------------- ----------------------------------------------------------- ------------------------------------------------
1 NAME OF REPORTING PERSON: BALDWIN ENTERPRISES, INC.
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) [_]
---------------------- ------------------------------------------------------------------------------------------------------------
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: COLORADO
----------------------------------- -------- ---------------------------------------------------- ---------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
-------- ---------------------------------------------------- ---------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 6,159,438 (SEE ITEM 5)
OWNED BY
-------- ---------------------------------------------------- ---------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
-------- ---------------------------------------------------- ---------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 6,159,438 (SEE ITEM 5)
---------------------- -------------------------------------------------------------------------- ---------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 6,159,438 (SEE ITEM 5)
---------------------- ------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
---------------------- ------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 87.0%
---------------------- ----------------------------------------------------------- ------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
---------------------- ----------------------------------------------------------- ------------------------------------------------
6
---------------------------------------------------------------------------------- ---------------------------------
CUSIP No. 016752107 13D
---------------------------------------------------------------------------------- ---------------------------------
---------------------- ----------------------------------------------------------- ------------------------------------------------
1 NAME OF REPORTING PERSON: BELLPET, INC.
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) [_]
---------------------- ------------------------------------------------------------------------------------------------------------
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
----------------------------------- -------- ---------------------------------------------------- ---------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
-------- ---------------------------------------------------- ---------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 5,688,031 (SEE ITEM 5)
OWNED BY
-------- ---------------------------------------------------- ---------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
-------- ---------------------------------------------------- ---------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 5,688,031 (SEE ITEM 5)
---------------------- -------------------------------------------------------------------------- ---------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 5,688,031 (SEE ITEM 5)
---------------------- ------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
---------------------- ------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 80.4%
---------------------- ----------------------------------------------------------- ------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
---------------------- ----------------------------------------------------------- ------------------------------------------------
7
---------------------------------------------------------------------------------- ---------------------------------
CUSIP No. 016752107 13D
---------------------------------------------------------------------------------- ---------------------------------
---------------------- ----------------------------------------------------------- ------------------------------------------------
1 NAME OF REPORTING PERSON: EMPIRE INSURANCE COMPANY
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) [_]
---------------------- ------------------------------------------------------------------------------------------------------------
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: NEW YORK
----------------------------------- -------- ---------------------------------------------------- ---------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
-------- ---------------------------------------------------- ---------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 5,987,401
OWNED BY
-------- ---------------------------------------------------- ---------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
-------- ---------------------------------------------------- ---------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 5,987,401
---------------------- -------------------------------------------------------------------------- ---------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 5,987,401
---------------------- ------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
---------------------- ------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 84.6%
---------------------- ----------------------------------------------------------- ------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
---------------------- ----------------------------------------------------------- ------------------------------------------------
8
Item 1. Security and Issuer.
This Statement constitutes Amendment No. 5 ("Amendment No. 5") to the
Statement on Schedule 13D (the "Schedule 13D") filed with the Securities and
Exchange Commission by Leucadia National Corporation ("Leucadia") and its
subsidiaries, Phlcorp, Inc. ("Phlcorp"), WMAC Investment Corporation ("WMAC"),
330 MAD. PARENT CORP. ("330 Mad. Parent"), Baldwin Enterprises, Inc. ("BEI"),
BELLPET, Inc. ("Bellpet") and Empire Insurance Company ("Empire") (collectively,
the "Controlling Entities").
This Statement relates to the common stock, par value $1.00 (the
"Common Stock"), of Allcity Insurance Company (the "Company"). The address of
the principal executive office of the Company is 45 Main Street, Brooklyn, New
York 11201.
Unless otherwise indicated, all capitalized terms used herein have
the meanings ascribed to them in the Schedule 13D.
Item 2. Identity and Background.
(a) - (c) Empire is a New York corporation. The address of its
principal office is 45 Main Street, Brooklyn, New York 11201. Empire's
principal business is property and casualty insurance. All of the outstanding
common shares of Empire are owned indirectly by Leucadia through subsidiaries.
WMAC is a Wisconsin corporation with its principal office at 529 East
South Temple, Salt Lake City, Utah 84102. WMAC is a holding company for certain
of Leucadia's investments and operations. All of WMAC's outstanding shares of
common stock are owned by Phlcorp.
Bellpet is a Delaware corporation. The address of its principal
office is 529 East South Temple, Salt Lake City, Utah 84102. Bellpet is engaged
in making investments for its own account. All of Bellpet's outstanding shares
of common stock are owned by BEI.
BEI is a Colorado corporation. The address of its principal office is
529 East South Temple, Salt Lake City, Utah 84102. BEI is engaged in making
investments for its own account. All of BEI's outstanding shares of common stock
are owned by 330 Mad. Parent.
330 Mad. Parent is a Delaware corporation. The address of its
principal office is 529 East South Temple, Salt Lake City, Utah 84102. Bellpet
is engaged in making investments for its own account. All of 330 Mad. Parent's
outstanding shares of common stock are owned by Phlcorp.
Phlcorp is a Pennsylvania corporation. The address of its principal
office is Two Plaza East, Suite 1280, 303 East Kilbourne Avenue, Milwaukee,
Wisconsin 53202. Phlcorp is a holding company for subsidiaries primarily engaged
in the insurance business. All of Phlcorp's outstanding shares of common stock
are owned by Leucadia.
Leucadia is a New York corporation with its principal office at 315
Park Avenue South, New York, New York 10010. Leucadia is a holding company
principally engaged in a variety of businesses, including banking and lending,
9
property and casualty insurance, manufacturing, winery operations, real estate
activities and development of a copper mine. Approximately 32.7% of the common
shares of Leucadia outstanding at January 14, 2003 (including shares issuable
pursuant to currently exercisable warrants) is beneficially owned (directly and
through family members) by Ian M. Cumming, Chairman of the Board of Directors of
Leucadia, and Joseph S. Steinberg, a director and President of Leucadia
(excluding an additional 2.0% of the common shares of Leucadia beneficially
owned by trusts for the benefit of Mr. Steinberg's children, as to which Mr.
Steinberg disclaims beneficial ownership). Private charitable foundations
independently established by each of Messrs. Cumming and Steinberg each
beneficially own less than one percent of the outstanding common shares of
Leucadia. Mr. Cumming and Mr. Steinberg each disclaim beneficial ownership of
the common shares of Leucadia held by their respective private charitable
foundation. Mr. Cumming and Mr. Steinberg have an oral agreement pursuant to
which they will consult with each other as to the election of a mutually
acceptable Board of Directors of Leucadia.
The following information with respect to each executive officer and
director of WMAC is set forth in Amendment Number 1 to Schedule A to this
Amendment No. 5: (i) name, (ii) business address, (iii) principal occupation or
employment and (iv) name of any corporation or other organization in which such
employment is conducted, together with the principal business and address of any
such corporation or organization other than the Controlling Entities for which
such information is set forth above.
(d) - (f) During the last five years, none of the Controlling
Entities and, to their knowledge, none of the other persons identified pursuant
to Paragraphs (a) through (c) of this Item 2, has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or was a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which such person was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws. To the knowledge of the Controlling
Entities, each of the individuals identified pursuant to Paragraphs (a) through
(c) is a United States citizen.
Item 4. Purpose of Transaction.
On January 15, 2003, Leucadia presented a letter (the "Letter") to
the Chairman of the Special Committee of the Company's Board of Directors that
advised the Company of a potential tender offer by Leucadia to purchase all
shares of Common Stock not already owned by Leucadia and its affiliates at price
of $2.00 per share, subject to customary conditions and the tendering of
sufficient shares of Common Stock to increase to 95% Leucadia's beneficial
ownership of the outstanding Common Stock of the Company. As provided in the
Letter, if Leucadia obtains beneficial ownership of 95% or more of the shares of
Common Stock, subject to the approval of the New York Insurance Department of
the Merger (as defined below), Leucadia intends to, and to cause its
subsidiaries which own shares of Common Stock to, contribute such shares to
Empire such that Empire would directly own at least 95% of the shares of Common
Stock. After receiving the contributions of Common Stock and subject to the
approval of the New York Insurance Department, Empire would merge with the
Company pursuant to a short form merger pursuant to Section 7118 of the New York
10
Insurance Law (the "Merger") in which all outstanding shares of Common Stock not
owned by Leucadia and its affiliates would be converted into the right to
receive $2.00 per share. Empire will be the surviving company in the Merger and
the certificate of incorporation and by-laws of Empire prior to the effective
time of the merger will become the certificate of incorporation and by-laws of
the Company upon completion of the Merger. The transactions contemplated by
Leucadia's proposal would only be consummated following a favorable
recommendation by the Special Committee to the Company's shareholders. A copy of
the Letter is attached hereto as Exhibit 2 and incorporated herein by reference.
Upon consummation of the Merger, the separate existence of the
Company will cease and the shares of Common Stock will no longer be outstanding.
Further, in the event that there are less than 300 record holders of the Common
Stock following consummation of the tender offer, the registration of the shares
of Common Stock under the Securities Exchange Act of 1934, as amended, may be
terminated upon application by the Company to the Securities and Exchange
Commission (the "SEC").
In addition to the foregoing, subject to and depending upon
availability at prices deemed favorable by Leucadia, Leucadia, directly or
through its subsidiaries, may purchase additional shares of Common Stock from
time to time in the open market, in privately negotiated transactions with third
parties or otherwise. As stated above, Leucadia may consider increasing its
ownership of Common Stock above current levels by proposing a merger or other
business combination or otherwise, in which event its involvement may be through
or together with entities in which it has an interest.
Except as set forth above, none of the Controlling Entities have any
present plans or intentions which would result in or relate to any of the
transactions described in subparagraphs (a) through (j) of Item 4 of Schedule
13D.
Leucadia's proposal is merely an expression of interest and is not
intended to be legally binding in any way. If an offer were to be made, it would
be made in accordance with all applicable securities laws and would involve the
filing of appropriate materials with the Securities and Exchange Commission and
the mailing of appropriate materials to the public shareholders of the Company.
Any communications regarding the potential tender offer, including
the Letter, will be filed with the SEC on Schedule TO as "pre-commencement
communications" to a tender offer. When it becomes available, shareholders
should read the tender offer statement on Schedule TO (including a "going
private" statement on Schedule 13e-3) to be filed by Leucadia as it will contain
important information about the tender offer. When it becomes available,
shareholders can obtain such tender offer statement on Schedule TO free of
charge from the U.S. Securities and Exchange Commission's website at http:
www.sec.gov or from Leucadia by directing a request to Leucadia National
Corporation, 315 Park Avenue South, New York, New York 10010.
11
Item 5. Interest in Securities of the Issuer.
(a) The Controlling Entities beneficially own the following shares of
Common Stock:
(i) Empire is the direct owner of 5,987,401 shares of Common
Stock representing approximately 84.6% of the outstanding shares of Common Stock
(such outstanding shares being determined in accordance with Rule 13d-3(d)(1)
under the Exchange Act to equal the number of shares outstanding as of November
11, 2002 (i.e., 7,078,625 shares), as reported in the Company's Quarterly Report
on Form 10-Q for the quarterly period ended September 30, 2002.
(ii) By virtue of its ownership of 5% of the outstanding
shares of Empire, for purposes of this Amendment No. 5, WMAC may be deemed to
share voting and dispositive power with respect to Common Stock owned of record
by Empire and therefore may be deemed to be a beneficial owner of the shares of
Common Stock beneficially owned by Empire.
(iii) By virtue of its ownership of 95% of the outstanding
shares of Empire, for purposes of this Amendment No. 5, Bellpet may be deemed to
share voting and dispositive powers with respect to Common Stock owned of record
by Empire and therefore may be deemed to be a beneficial owner of the shares of
Common Stock beneficially owned by Empire.
(iv) BEI is the direct owner of 471,407 shares of Common Stock
representing approximately 6.7% of the Common Stock currently outstanding. In
addition, by virtue of its ownership of all of the outstanding shares of
Bellpet, for the purposes of this Amendment No. 5, BEI may be deemed to share
voting and dispositive powers with respect to Common Stock owned of record by
Empire, and therefore may be deemed to be a beneficial owner of all of the
shares of Common Stock beneficially owned by Bellpet.
(v) By virtue of its ownership of all of the outstanding
shares of BEI, for purposes of this Amendment No. 5, 330 Mad. Parent may be
deemed to share voting and dispositive power with respect to Common Stock owned
of record by Empire and BEI, and therefore may be deemed to be a beneficial
owner of all of the shares of Common Stock beneficially owned by BEI.
(vi) By virtue of its ownership of all of the outstanding
shares of 330 Mad Parent and WMAC, for purposes of this Amendment No. 5, Phlcorp
may be deemed to share voting and dispositive power with respect to Common Stock
owned of record by Empire and BEI, and therefore may be deemed to be a
beneficial owner of all of the shares of Common Stock beneficially owned by 330
Mad. Parent and WMAC.
(vii) By virtue of its ownership of all of the outstanding
shares of Phlcorp, for purposes of this Amendment No. 5, Leucadia may be deemed
to share voting and dispositive power with respect to Common Stock owned of
record by Empire and BEI, and therefore may be deemed to be a beneficial owner
of all of the shares of Common Stock beneficially owned by Phlcorp.
12
(viii) By virtue of their ownership of Leucadia common shares
and their positions with Leucadia, for purposes of this Amendment No. 5, Ian M.
Cumming and Joseph S. Steinberg may be deemed to share voting and disposition
powers with respect to Common Stock beneficially owned by Empire and BEI and
therefore may be deemed to be beneficial owners of all of the shares of Common
Stock beneficially owned by Leucadia.
(ix) Except as set forth in Paragraph (i) through (viii) of
this Item 5(a), to the best knowledge of the Controlling Entities, none of the
other persons identified pursuant to Item 2 above beneficially owns any shares
of Common Stock.
(b) Item 5(a) is incorporated herein by reference.
(c) Item 2 is incorporated herein by reference. Except as otherwise
described herein, none of the persons identified pursuant to Item 2 above has
effected any transactions in Common Stock during the past sixty days.
(d) Not applicable.
(e) Not applicable.
Item 7. Material to be Filed as Exhibits.
1. Agreement among the Controlling Entities with respect to the
filing of this Schedule 13D.
2. Letter dated January 15, 2003, from Leucadia National Corporation
to the Special Committee of the Board of Directors of Allcity
Insurance Company.
13
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 15, 2003
LEUCADIA NATIONAL CORPORATION
By: /s/ Joseph A. Orlando
---------------------------------
Name: Joseph A. Orlando
Title: Vice President and
Chief Financial Officer
14
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 15, 2003
WMAC INVESTMENT CORPORATION
By: /s/ Joseph A. Orlando
--------------------------------------
Name: Joseph A. Orlando
Title: Vice President
15
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 15, 2003
PHLCORP, INC.
By: /s/ Joseph A. Orlando
--------------------------------------
Name: Joseph A. Orlando
Title: Vice President
16
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 15, 2003
330 MAD. PARENT CORP.
By: /s/ Corinne Maki
--------------------------------------
Name: Corinne Maki
Title: Vice President, Secretary and
Controller
17
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 15, 2003
BALDWIN ENTERPRISES, INC.
By: /s/ Joseph A. Orlando
--------------------------------------
Name: Joseph A. Orlando
Title: Vice President
18
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 15, 2003
BELLPET, INC.
By: /s/ Corinne Maki
--------------------------------------
Name: Corinne Maki
Title: Vice President, Secretary and
Controller
19
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 15, 2003
EMPIRE INSURANCE COMPANY
By: /s/ Rocco Nittoli
-------------------------------------------
Name: Rocco Nittoli
Title: Chief Operating Officer
20
AMENDMENT NUMBER 1 TO SCHEDULE A
--------------------------------
Directors and Executive Officers of WMAC
----------------------------------------
Set forth below are the name, business address, present principal occupation or
employment of each director and executive officer of WMAC. To the knowledge of
the Controlling Entities, each person listed below is a United States citizen.
For purposes of this schedule, Leucadia is "(a)", WMAC is "(b)",
Phlcorp is "(c)", 330 Mad. Parent is "(d)", BEI is "(e)", Bellpet is "(f)" and
Empire is "(g)".
Director- Principal Occupation or
Name and Business Address ships Offices Employment
------------------------- --------- ------- -----------------------
Ian M. Cumming (a), (b), (e) and Chairman of the Board of (a) Chairman of the Board of (a)
c/o Leucadia National Corporation (g) and (e)
529 E. South Temple
Salt Lake City, Utah 84102
Joseph S. Steinberg (a),(b), (e) and President of (a) and (e) President of (a)
c/o Leucadia National Corporation (g)
315 Avenue South
New York, NY 10010
Joseph A. Orlando (b), (c), (d), Vice President and Chief Vice President and Chief Financial
c/o Leucadia National Corporation (e), (f) and (g) Financial Officer of (a); Officer of (a)
315 Avenue South President of (b); Vice
New York, NY 10010 President and Treasurer of
(c); Vice President of (e)
Corinne Maki -- Vice President and Vice President, Secretary and
c/o 330 Mad. Parent Corp Controller of (b); Vice Controller of (d); Assistant
529 East South Temple President, Secretary and Secretary of (a)
Salt Lake City, Utah 84102 Comptroller of (d) and (f);
Assistant Secretary of (e)
Mark Hornstein (c) Vice President of (a), (b), Vice President of (a)
c/o Leucadia National Corporation (c) and (e)
315 Avenue South
New York, NY 10010
Philip M. Cannella (b), (d) and (f) Vice President and Treasurer Assistant Vice President of (a)
c/o Leucadia National Corporation of (b); Assistant Vice
315 Avenue South President of (a); Vice
New York, NY 10010 President of (c) and (e)
Barbara L. Lowenthal -- Vice President and Vice President and Comptroller of
c/o Leucadia National Corporation Comptroller of (a); Vice (a)
315 Avenue South President of (b) and (e)
New York, NY 10010
Laura E. Ulbrandt -- Secretary of (a), (b), (c) Secretary of (a)
c/o Leucadia National Corporation and (e)
315 Avenue South
New York, NY 10010
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