-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Uytiuh8bc7mHVfKL5KjdSNmjCN6eJuq/cYbs+CEyaG9OOR6y2FrJwGA5JstbysNk Gl5sqSh1s4eyLx2jYEvqzw== 0001202291-07-000176.txt : 20070726 0001202291-07-000176.hdr.sgml : 20070726 20070726172722 ACCESSION NUMBER: 0001202291-07-000176 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070726 DATE AS OF CHANGE: 20070726 GROUP MEMBERS: GLENHILL CAPITAL LP GROUP MEMBERS: GLENHILL CAPITAL MANAGEMENT, LLC GROUP MEMBERS: GLENN J. KREVLIN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TEKELEC CENTRAL INDEX KEY: 0000790705 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 952746131 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-38000 FILM NUMBER: 071004138 BUSINESS ADDRESS: STREET 1: 5200 PARAMOUNT PARKWAY CITY: MORRISVILLE STATE: NC ZIP: 27560 BUSINESS PHONE: 919-460-5500 MAIL ADDRESS: STREET 1: 5200 PARAMOUNT PARKWAY CITY: MORRISVILLE STATE: NC ZIP: 27560 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GLENHILL ADVISORS LLC CENTRAL INDEX KEY: 0001137521 IRS NUMBER: 134153005 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 598 MADISON AVE STREET 2: 12TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 646-432-0600 MAIL ADDRESS: STREET 1: 598 MADISON AVE STREET 2: 12TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: KREVLIN ADVISORS LLC DATE OF NAME CHANGE: 20010402 SC 13G/A 1 form13ga.htm FORM 13G/A FILED BY GLENHILL ADVISORS, LLC, ISSUER TEKELEC 7-26-07 form13ga.htm

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*


Tekelec
-------------------------------------------------------------------------------
(Name of Issuer)


Common Stock
-------------------------------------------------------------------------------
(Title of Class of Securities)


879101103
----------------------------------------
(CUSIP Number)

July 24, 2007
-------------------------------------------------------------------------------
(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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMD control number.

SEC 1745 (3-06)

Page 1 of 8 Pages
 


------------------------------------------------
CUSIP No. 879101103
------------------------------------------------
 
------------------------------------------------------------------------------------------------------------------------------
1    Name of Reporting Persons
        I.R.S. Identification Nos. of above persons (entities only)
 
       Glenhill Advisors, LLC
       13-4153005
------------------------------------------------------------------------------------------------------------------------------
2    Check the Appropriate Box if a Member of a Group (See Instruction)
 
        (a)    [   ]
        (b)    [X]
------------------------------------------------------------------------------------------------------------------------------
3    SEC Use Only
------------------------------------------------------------------------------------------------------------------------------
4    Citizen or Place of Organization
 
        Delaware
------------------------------------------------------------------------------------------------------------------------------
Number of       5        Sole Voting Power            6,500,000
            ---------------------------------------------------------------------------------------------------------
Shares
 
Beneficially      6       Shared Voting Power          0
            ---------------------------------------------------------------------------------------------------------
Owned by
 
Each                           7       Sole Dispositive Power      6,500,000
            ---------------------------------------------------------------------------------------------------------
Reporting
 
Person With:             8       Shared Dispositive Power         0
------------------------------------------------------------------------------------------------------------------------------
 
9    Aggregate Amount Beneficially Owned by Each Reporting Person
 
        6,500,000
------------------------------------------------------------------------------------------------------------------------------
10       Check if the Aggregate Amount in Row (9) Excludes Certain Shares
        (See Instructions)       [ ]
------------------------------------------------------------------------------------------------------------------------------
11       Percent of Class Represented by Amount in Row (9)
 
              9.3%
------------------------------------------------------------------------------------------------------------------------------
12       Type of Reporting Person (See Instructions)
 
         IA, HC

Page 2 of 8 Pages
 


------------------------------------------------
CUSIP No. 879101103
------------------------------------------------
 
------------------------------------------------------------------------------------------------------------------------------
1    Name of Reporting Persons
        I.R.S. Identification Nos. of above persons (entities only)
 
        Glenn J. Krevlin
------------------------------------------------------------------------------------------------------------------------------
2    Check the Appropriate Box if a Member of a Group (See Instruction)
 
        (a)    [   ]
        (b)    [X]
------------------------------------------------------------------------------------------------------------------------------
3    SEC Use Only
------------------------------------------------------------------------------------------------------------------------------
4    Citizen or Place of Organization
 
        United States
------------------------------------------------------------------------------------------------------------------------------
Number of                 5        Sole Voting Power          6,500,000
            ---------------------------------------------------------------------------------------------------------
Shares
 
Beneficially         6        Shared Voting Power                           0
            ---------------------------------------------------------------------------------------------------------
Owned by
 
Each                          7        Sole Dispositive Power    6,500,000
            ---------------------------------------------------------------------------------------------------------
Reporting
 
Person With:             8        Shared Dispositive Power                   0
------------------------------------------------------------------------------------------------------------------------------
 
9    Aggregate Amount Beneficially Owned by Each Reporting Person
 
        6,500,000
------------------------------------------------------------------------------------------------------------------------------
10       Check if the Aggregate Amount in Row (9) Excludes Certain Shares
        (See Instructions)       [ ]
------------------------------------------------------------------------------------------------------------------------------
11       Percent of Class Represented by Amount in Row (9)
 
              9.3%
------------------------------------------------------------------------------------------------------------------------------
12       Type of Reporting Person (See Instructions)
 
               IN, HC
 
Page 3 of 8 Pages
 

 
------------------------------------------------
CUSIP No. 879101103
------------------------------------------------
 
------------------------------------------------------------------------------------------------------------------------------
1    Name of Reporting Persons
        I.R.S. Identification Nos. of above persons (entities only)
 
        Glenhill Capital Management, LLC
        13-4146739
------------------------------------------------------------------------------------------------------------------------------
2    Check the Appropriate Box if a Member of a Group (See Instruction)
 
        (a)    [   ]
        (b)    [X]
------------------------------------------------------------------------------------------------------------------------------
3    SEC Use Only
------------------------------------------------------------------------------------------------------------------------------
4    Citizen or Place of Organization
 
        Delaware
------------------------------------------------------------------------------------------------------------------------------
Number of        5        Sole Voting Power            0
            ---------------------------------------------------------------------------------------------------------
Shares
 
Beneficially            6        Shared Voting Power        6,500,000
            ---------------------------------------------------------------------------------------------------------
Owned by
 
Each                              7        Sole Dispositive Power          0
            ---------------------------------------------------------------------------------------------------------
Reporting
 
Person With:                 8        Shared Dispositive Power      6,500,000
------------------------------------------------------------------------------------------------------------------------------
 
9    Aggregate Amount Beneficially Owned by Each Reporting Person
 
        6,500,000
------------------------------------------------------------------------------------------------------------------------------
10       Check if the Aggregate Amount in Row (9) Excludes Certain Shares
        (See Instructions)       [ ]
------------------------------------------------------------------------------------------------------------------------------
11       Percent of Class Represented by Amount in Row (9)
 
        9.3%
------------------------------------------------------------------------------------------------------------------------------
12       Type of Reporting Person (See Instructions)
 
        IA, HC

Page 4 of 8 Pages
 

------------------------------------------------
CUSIP No. 879101103
------------------------------------------------
 
------------------------------------------------------------------------------------------------------------------------------
1    Name of Reporting Persons
        I.R.S. Identification Nos. of above persons (entities only)
 
        Glenhill Capital LP
        13-4149785
------------------------------------------------------------------------------------------------------------------------------
2    Check the Appropriate Box if a Member of a Group (See Instruction)
 
        (a)    [   ]
        (b)    [X]
------------------------------------------------------------------------------------------------------------------------------
3    SEC Use Only
------------------------------------------------------------------------------------------------------------------------------
4    Citizen or Place of Organization
 
        Delaware
------------------------------------------------------------------------------------------------------------------------------
Number of        5        Sole Voting Power            0
            ---------------------------------------------------------------------------------------------------------
Shares
 
Beneficially            6        Shared Voting Power        3,768,580
            ---------------------------------------------------------------------------------------------------------
Owned by
 
Each                              7        Sole Dispositive Power          0
            ---------------------------------------------------------------------------------------------------------
Reporting
 
Person With:                 8        Shared Dispositive Power      3,768,580
------------------------------------------------------------------------------------------------------------------------------
 
9    Aggregate Amount Beneficially Owned by Each Reporting Person
 
        3,768,580
------------------------------------------------------------------------------------------------------------------------------
10       Check if the Aggregate Amount in Row (9) Excludes Certain Shares
        (See Instructions)       [ ]
------------------------------------------------------------------------------------------------------------------------------
11       Percent of Class Represented by Amount in Row (9)
 
        5.4%
------------------------------------------------------------------------------------------------------------------------------
12       Type of Reporting Person (See Instructions)
 
        PN
 
Page 5 of 8 Pages

   
Item 1(a)
Name of Issuer
 
Tekelec 
   
Item 1(b)
Address of Issuers Principal Executive Offices:
 
5200 Paramount Parkway
 
Morrisville, North Carolina 27560
   
Item 2(a)
Name of Persons Filing:
 
Glenhill Advisors, LLC, Glenn J. Krevlin, Glenhill Capital Management, LLC and Glenhill Capital LP. 
 
Glenn J. Krevlin is the managing member and control person of Glenhill Advisors, LLC.  Glenhill Advisors, LLC is the managing member of Glenhill Capital Management, LLC.  Glenhill Capital Management, LLC is the general partner and investment advisor of Glenhill Capital LP, a security holder of the issuer, managing member of Glenhill Concentrated Long Master Fund, LLC, a security holder of the issuer, and sole shareholder of Glenhill Capital Overseas GP Ltd.  Glenhill Capital Overseas GP Ltd. is general partner of Glenhill Capital Overseas Master Fund L.P., a security holder of the issuer.
   
Item 2(b)
Address of Principal Business Office or, if none Residence:
 
598 Madison Avenue, 12th Floor
 
New York, NY 10022
   
Item 2(c)
Citizenship:
 
See the response(s) to Item 4 on the attached cover page(s).
   
Item 2(d)
Title of Class of Securities:
 
Common Stock
   
Item 2(e)
CUSIP Number:
 
879101103
   
Item 3
If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a:
 
Not Applicable


Page 6 of 8 Pages
 


Item 4          Ownership
 
(a)        Amount Beneficially Owned:
See the response(s) to Item 9 on the attached cover page(s).
 
(b)        Percent of Class:
See the response(s) to Item 11 on the attached cover page(s).
 
(c)        Number of shares as to which the person has:
 
(i)         Sole power to vote or to direct the vote:
See the response(s) to Item 5 on the attached cover page(s).
 
(ii)        Shared power to vote or to direct the vote:
See the response(s) to Item 6 on the attached cover page(s).
 
(iii)       Sole power to dispose or direct the disposition of:
See the response(s) to Item 7 on the attached cover page(s).
 
(iv)       Shared power to dispose or direct the disposition of:
See the response(s) to Item 8 on the attached cover page(s).
 
Item 5          Ownership of five percent or less of a class.
Not Applicable.
 
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 by the Parent Holding Company.
Not Applicable
 
Item 8          Identification and Classification of Members of the Group.
Not Applicable
 
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 7 of 8 Pages
 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DATE:    July 26, 2007
    GLENHILL ADVISORS, LLC 
     
    By: /s/ GLENN J. KREVLIN
     
    Name:  Glenn J. Krevlin 
    Title:     Managing Member 
     
     
    /s/ GLENNJ. KREVLIN 
     
    Name: Glenn J. Krevlin  
     
     
    GLENHILL CAPITAL MANAGEMENT, LLC  
     
    By: GLENHILL ADVISORS, LLC 
   
         Managing Member 
     
    By: /s/ GLENN J. KREVLIN 
     
    Name:  Glenn J. Krevlin  
    Title:     Managing Member  
     
     
     
    GLENHILL CAPITAL LP 
     
    By: GLENHILL CAPITAL MANAGEMENT, LLC  
   
      General Partner 
     
    By: GLENHILL ADVISORS, LLC 
             Managing Member
     
    By: /s/ GLENN J. KREVLIN 
     
    Name: Glenn J. Krevlin 
    Title:    Managing Member 
 
 
 
Page 8 of 8 Pages
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