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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Ligand Pharmaceuticals Incorporated
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.001 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
53220K207
--------------------------------------------------------------------------------
(CUSIP Number)
December 31, 2004
--------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
* 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 the
disclosures provided in a prior cover page.
The information required in 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).
(Continued on following pages)
Page 1 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 791,661 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
791,661 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
791,661 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
1.1% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 2 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 725,008 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
725,008 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
725,008 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
1.0% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 3 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners II, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 131,323 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
131,323 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
131,323 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.2% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 4 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners III, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 94,811 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
94,811 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
94,811 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.1 % [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 5 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tinicum Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
New York
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 31,588 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
31,588 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
31,588 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.0% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 6 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
RR Capital Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 17,850 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
17,850 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
17,850 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.0% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 7 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Management, L.L.C.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 1,610,186 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
1,610,186 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,610,186 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
2.1% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IA, OO
------------====================================================================
Page 8 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Partners, L.L.C.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 1,792,241 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
1,792,241 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,792,241 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
2.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
OO
------------====================================================================
Page 9 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David I. Cohen [See Second Preliminary Note]
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First and Second Preliminary Notes]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
-0-
NUMBER OF ------------===========================================
SHARED VOTING POWER
SHARES 6
BENEFICIALLY 3,402,427
OWNED BY [See First and Second Preliminary Notes]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
8
3,402,427
[See First and Second Preliminary Notes]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First and Second Preliminary Notes]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First and Second Preliminary Notes]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 10 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Chun R. Ding
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 11 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Joseph F. Downes
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 12 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Duhamel
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 13 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Charles E. Ellwein
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 14 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard B. Fried
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 15 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Monica R. Landry
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 16 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Mellin
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 17 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Stephen L. Millham
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 18 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Rajiv A. Patel
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 19 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Derek C. Schrier
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 20 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas F. Steyer
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 21 of 29 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mark C. Wehrly
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing may be
deemed the beneficial owners of an aggregate of
3,402,427 Shares, which is 4.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See First Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 3,402,427 [See First Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
3,402,427 [See First Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,402,427 [See First Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.4% [See First Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 22 of 29 Pages
This Amendment No. 1 to Schedule 13G amends the Schedule 13G initially
filed on November 8, 2004 (collectively, with all amendments thereto, the
"Schedule 13G").
First Preliminary Note: The Reporting Persons (as defined below) are
filing this Schedule 13G with respect to the shares of Common Stock, par value
$0.001 per share (the "Shares"), of Ligand Pharmaceuticals Incorporated (the
"Company"). Certain of the Reporting Persons own, in aggregate, (i) $18,800,000
principal amount of 6% Convertible Subordinated Notes due 2007 (the "Convertible
Notes") issued by the Company, each $1,000 principal amount of Convertible Notes
immediately convertible to 161.9905 Shares, and (ii) Warrants (the "Warrants")
issued by the Company to purchase 357,006 Shares. Each Warrant has an exercise
price of $10 per Share, is immediately exercisable and has an expiration date of
October 6, 2006. If all of such Convertible Notes and Warrants were converted or
exercised, as applicable, the Reporting Persons would own, in aggregate,
3,402,427 Shares. All numbers and percentages contained in this Schedule 13G
represent Shares and not Convertible Notes or Warrants (unless stated
otherwise). For information regarding the Convertible Notes, see the Company's
Registration Statement on a Form S-3 filed with the Securities and Exchange
Commission on January 13, 2003, as amended. For information regarding the
Warrants, see the Company's Annual Statement on a Form 10K filed with the
Securities and Exchange Commission on March 21, 2003, as amended.
Second Preliminary Note: Effective as of January 1, 2005, each of
Noonday G.P. (U.S.), L.L.C. (the "First Noonday Sub-adviser") and Noonday Asset
Management, L.P. (the "Second Noonday Sub-adviser") entered into an investment
subadvisory agreement with the Management Company and the General Partner, under
which the First Noonday Sub-adviser and the Second Noonday Sub-adviser are
granted investment authority over certain securities and
Page 23 of 29 Pages
instruments owned by thePartnerships and Managed Accounts, including the Shares
reported herein. Noonday Capital, L.L.C. serves as the general partner of the
Second Noonday Sub-adviser. David I. Cohen serves as the managing member of the
First Noonday Sub-adviser and Noonday Capital, L.L.C. Mr. Cohen resigned as a
managing member of the Management Company and the General Partner effective
December 31, 2004. This amendment to the Schedule 13G reports that Mr. Cohen is
no longer the deemed beneficial owner of any of the Shares reported herein by
virtue of being a managing member of the Management Company and the General
Partner. Mr. Cohen, however, may be deemed to be the beneficial owner of all of
the Shares reported herein by virtue of his position as a managing member of the
First Noonday Sub-adviser and Noonday Capital, L.L.C.
Item 1. Issuer
------
(a) Name of Issuer:
--------------
Ligand Pharmaceuticals Incorporated (the "Company")
(b) Address of Issuer's Principal Executive Offices:
-----------------------------------------------
10275 Science Center Drive, San Diego, CA, 92121-1117
Item 2. Identity And Background
-----------------------
Title Of Class Of Securities And CUSIP Number (Item 2(d) and (e))
----------------------------------------------------------------
This statement relates to Shares of the Company (each such term as
defined in the First Preliminary Note above). The CUSIP number of the Shares is
53220K207.
Name Of Persons Filing, Address Of Principal Business Office And
----------------------------------------------------------------
Citizenship (Item 2(a), (b) and (c))
------------------------------------
This statement is filed by the entities and persons listed below, all
of whom together are referred to herein as the "Reporting Persons."
Page 24 of 29 Pages
The Partnerships
----------------
(i) Farallon Capital Partners, L.P., a California limited
partnership ("FCP"), with respect to the Shares
beneficially owned by it through its ownership of
Convertible Notes and/or Warrants;
(ii) Farallon Capital Institutional Partners, L.P., a
California limited partnership ("FCIP"), with respect
to the Shares beneficially owned by it through its
ownership of Convertible Notes and/or Warrants;
(iii) Farallon Capital Institutional Partners II, L.P., a
California limited partnership ("FCIP II"), with
respect to the Shares beneficially owned by it through
its ownership of Convertible Notes and/or Warrants;
(iv) Farallon Capital Institutional Partners III, L.P., a
Delaware limited partnership ("FCIP III"), with respect
to the Shares beneficially owned by it through its
ownership of Convertible Notes and/or Warrants;
(v) Tinicum Partners, L.P., a New York limited partnership
("Tinicum"), with respect to the Shares beneficially
owned by it through its ownership of Convertible Notes
and/or Warrants; and
(vi) RR Capital Partners, L.P., a Delaware limited
partnership ("RR"), with respect to the Shares
beneficially owned by it through its ownership of
Convertible Notes and/or Warrants.
FCP, FCIP, FCIP II, FCIP III, Tinicum and RR are together referred to
herein as the "Partnerships."
The Management Company
----------------------
(vii) Farallon Capital Management, L.L.C., a Delaware limited
liability company (the "Management Company"), with
respect to the Shares beneficially owned by certain
accounts managed by the Management Company (the
"Managed Accounts") through their ownership of
Convertible Notes and/or Warrants.
The General Partner Of The Partnerships
---------------------------------------
(viii) Farallon Partners, L.L.C., a Delaware limited liability
company which is the general partner of each of the
Partnerships (the "General Partner"), with respect to
the Shares beneficially owned by each of the
Partnerships through their ownership of Convertible
Notes and/or Warrants.
Page 25 of 29 Pages
The Managing Members Of the General Partner And The Management Company
----------------------------------------------------------------------
(ix) The following persons who are (or, solely with respect
to David I. Cohen, were) managing members of both the
General Partner and the Management Company, with
respect to the Shares held by the Partnerships and the
Managed Accounts: David I. Cohen ("Cohen"), Chun R.
Ding ("Ding"), Joseph F. Downes ("Downes"), William F.
Duhamel ("Duhamel"), Charles E. Ellwein ("Ellwein"),
Richard B. Fried ("Fried"), Monica R. Landry
("Landry"), William F. Mellin ("Mellin"), Stephen L.
Millham ("Millham"), Rajiv A. Patel ("Patel"), Derek C.
Schrier ("Schrier"), Thomas F. Steyer ("Steyer") and
Mark C. Wehrly ("Wehrly").
Cohen, Ding, Downes, Duhamel, Ellwein, Fried, Landry, Mellin, Millham,
Patel, Schrier, Steyer and Wehrly are together referred to herein as the
"Individual Reporting Persons."
The citizenship of each of the Partnerships, the General Partner and
the Management Company is set forth above. Each of the Individual Reporting
Persons is a United States citizen. The address of the principal business office
of each of the Reporting Persons other than Cohen is c/o Farallon Capital
Management, L.L.C., One Maritime Plaza, Suite 1325, San Francisco, California
94111. The address of the principal business office of Cohen is c/o Noonday
Asset Management, L.P., 227 West Trade Street, Suite 2140, Charlotte, North
Carolina 28202.
Item 3. If This Statement Is Filed Pursuant To Sections 240.13d-1(b) or
---------------------------------------------------------------
240.13d-2(b) or (c), Check Whether The Person Filing Is An Entity
-----------------------------------------------------------------
Specified in (a) - (j):
-----------------------
Not Applicable.
If This Statement Is Filed Pursuant To Section 240.13d-1(c), Check This
-----------------------------------------------------------------------
Box. [X]
---
Item 4. Ownership
---------
The information required by Items 4(a) - (c) and set forth in Rows 5
through 11 of the cover page for each Reporting Person hereto is incorporated
herein by reference for each such Reporting Person.
The Shares reported hereby for the Partnerships are beneficially owned
by the Partnerships and those reported by the Management Company on behalf of
the Managed Accounts are beneficially owned by the Managed Accounts through
their ownership of Convertible Notes and/or Warrants. The General Partner, as
general partner to the Partnerships, may be deemed to be the beneficial owner of
all such Shares beneficially owned by the Partnerships. The Management Company,
as investment adviser to the Managed Accounts, may be deemed to be the
beneficial owner of all such Shares beneficially owned by the Managed Accounts.
The Individual Reporting Persons other than Cohen, as managing members of both
the General Partner and the Management Company, may each be deemed to be the
beneficial owner of all such Shares beneficially owned by the Partnerships and
the Managed Accounts. Cohen, as a managing member of the First Noonday
Sub-adviser and Noonday Capital, L.L.C.,
Page 26 of 29 Pages
may be deemed to be the beneficial owner of all such Shares beneficially owned
by the Partnerships and Managed Accounts. Each of the Management Company, the
General Partner and the Individual Reporting Persons hereby disclaims any
beneficial ownership of any such Shares.
Item 5. Ownership Of Five Percent Or Less Of A Class
--------------------------------------------
If this statement is being filed to report the fact that as of
the date hereof the Reporting Persons have ceased to be the
deemed beneficial owner of more than five percent of the class
of securities, check the following: [X]
Item 6. Ownership Of More Than Five Percent On Behalf Of Another Person
---------------------------------------------------------------
Not Applicable.
Item 7. Identification And Classification Of The Subsidiary Which Acquired
------------------------------------------------------------------
The Security Being Reported On By The Parent Holding Company
------------------------------------------------------------
Not Applicable.
Item 8. Identification And Classification Of Members Of The Group
---------------------------------------------------------
The Reporting Persons are filing this Schedule 13G pursuant to
Rule 13d-1(c). Consistent with Item 2 of the cover page for each
Reporting Person above, the Reporting Persons neither disclaim nor
affirm the existence of a group among them.
Item 9. Notice Of Dissolution Of Group
------------------------------
Not Applicable.
Item 10. Certification
-------------
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in any
transaction having that purpose or effect.
Page 27 of 29 Pages
SIGNATURES
----------
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: January 25, 2005
/s/ Joseph F. Downes
----------------------------------------
FARALLON PARTNERS, L.L.C.,
on its own behalf and as General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
TINICUM PARTNERS, L.P.,
And RR CAPITAL PARTNERS, L.P.,
By Joseph F. Downes
Managing Member
/s/ Joseph F. Downes
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Joseph F. Downes
Managing Member
/s/ Joseph F. Downes
----------------------------------------
Joseph F. Downes, individually and as attorney-in-fact for
each of David I. Cohen, Chun R. Ding, William F. Duhamel,
Charles E. Ellwein, Richard B. Fried, Monica R. Landry,
William F. Mellin, Stephen L. Millham, Rajiv A. Patel,
Derek C. Schrier, Thomas F. Steyer and Mark C. Wehrly.
The Powers of Attorney, each executed by Cohen, Mellin, Millham and
Steyer authorizing Downes to sign and file this Schedule 13G on each person's
behalf, which were filed with Amendment No. 1 to the Schedule 13D filed with the
Securities and Exchange Commission on January 20, 1998, by such Reporting
Persons with respect to the Units of Spiros Development Corporation II, Inc.,
are hereby incorporated by reference. The Powers of Attorney, each executed by
Duhamel and Fried authorizing Downes to sign and file this Schedule 13G on each
person's behalf, which were filed with Amendment No. 7 to the Schedule 13D filed
with the Securities and Exchange Commission on February 9, 1999 by such
Reporting Persons with respect to the Callable Class A Common Stock of Crescendo
Pharmaceuticals Corporation, are hereby incorporated by reference. The Power of
Attorney executed by Mark C. Wehrly authorizing Downes to sign and file this
Schedule 13G on his behalf, which was filed with Amendment No. 4 to the Schedule
13D filed with the Securities and Exchange Commission on January 18, 2000, by
such Reporting Person with respect to the Class A Common Stock of Momentum
Business Applications, Inc., is hereby incorporated by reference. The Power of
Attorney executed by Monica R. Landry authorizing Downes, as well as Steyer and
Cohen, to
Page 28 of 29 Pages
sign and file this Schedule 13G on her behalf, which was filed with the Schedule
13G filed with the Securities and Exchange Commission on January 22, 2001, by
such Reporting Person with respect to the Common Stock of Korn/Ferry
International is hereby incorporated by reference. The Powers of Attorney
executed by each of Chun R. Ding and Derek C. Schrier authorizing Downes to sign
and file this Schedule 13G on his behalf, which was filed with Amendment No. 1
to the Schedule 13D filed with the Securities and Exchange Commission on July 2,
2003, by such Reporting Person with respect to the Common Stock of Salix
Pharmaceuticals, Ltd., is hereby incorporated by reference. The Powers of
Attorney executed by each of Charles E. Ellwein and Rajiv A. Patel authorizing
Downes to sign and file this Schedule 13G on his behalf, which was filed with
Amendment No. 4 to the Schedule 13G filed with the Securities and Exchange
Commission on January 8, 2004 by such Reporting Person with respect to the
Common Stock of Catalytica Energy Systems, Inc., is hereby incorporated by
reference.
Page 29 of 29 Pages