-----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, RLGE1dAFD3W0XTKjZuV9kc3GdInMYGgdcAJepMRtJDLeYm+gcJrW+XdsfCLM0jE1 okZ6J2M6CIWF1buvGoTi8Q== 0000921895-99-000924.txt : 19991224 0000921895-99-000924.hdr.sgml : 19991224 ACCESSION NUMBER: 0000921895-99-000924 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991223 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BELL INDUSTRIES INC /NEW/ CENTRAL INDEX KEY: 0000945489 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065] IRS NUMBER: 952039211 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-52973 FILM NUMBER: 99780282 BUSINESS ADDRESS: STREET 1: 2201 E EL SEGUDON BLVD CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3105632355 MAIL ADDRESS: STREET 1: 2201 E EL SEGUDON BLVD CITY: EL SEGUDON STATE: CA ZIP: 90245 FORMER COMPANY: FORMER CONFORMED NAME: CALIFORNIA BELL INDUSTRIES INC DATE OF NAME CHANGE: 19950519 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STEEL PARTNERS II L P CENTRAL INDEX KEY: 0000915653 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 150 EAST 52ND STREET STREET 2: 21ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-813-1500 MAIL ADDRESS: STREET 1: 150 EAST 52ND STREET, 21ST FLOOR CITY: NY STATE: NY ZIP: 10022 SC 13D/A 1 SCHEDULE 13D - AMENDMENT NO. 9 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------- SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 9)1 Bell Industries, Inc. - -------------------------------------------------------------------------------- (Name of issuer) COMMON STOCK - -------------------------------------------------------------------------------- (Title of class of securities) 078 107 109 - -------------------------------------------------------------------------------- (CUSIP number) STEVEN WOLOSKY, ESQ. OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP 505 Park Avenue New York, New York 10022 (212) 753-7200 - -------------------------------------------------------------------------------- (Name, address and telephone number of person authorized to receive notices and communications) December 20, 1999 - -------------------------------------------------------------------------------- (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 / /. Note. six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 9 Pages) Exhibit Index on Page 8 - -------- 1 The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). - -------------------------------- --------------------------- CUSIP No. 078 107 109 13D Page 2 of 9 Pages - -------------------------------- --------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS STEEL PARTNERS II, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (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 OR ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 529,230 OWNED BY EACH ---------------------------------------------------------------- REPORTING PERSON WITH 8 SHARED VOTING POWER -0- ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 529,230 ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 529,230 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ================================================================================ - -------------------------------- --------------------------- CUSIP No. 078 107 109 13D Page 3 of 9 Pages - -------------------------------- --------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS WARREN LICHTENSTEIN - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION USA - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 529,230 OWNED BY EACH ---------------------------------------------------------------- REPORTING PERSON WITH 8 SHARED VOTING POWER - 0 - ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 529,230 ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 529,230 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ================================================================================ - -------------------------------- --------------------------- CUSIP No. 078 107 109 13D Page 4 of 9 Pages - -------------------------------- --------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS NEWCASTLE PARTNERS, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (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 OR ORGANIZATION TEXAS - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 13,900 OWNED BY EACH ---------------------------------------------------------------- REPORTING PERSON WITH 8 SHARED VOTING POWER -0- ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 13,900 ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) .15% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ================================================================================ - -------------------------------- --------------------------- CUSIP No. 078 107 109 13D Page 5 of 9 Pages - -------------------------------- --------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS MARK E. SCHWARZ - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION USA - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 13,900 OWNED BY EACH ---------------------------------------------------------------- REPORTING PERSON WITH 8 SHARED VOTING POWER - 0 - ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 13,900 ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) .15% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ================================================================================ - -------------------------------- --------------------------- CUSIP No. 078 107 109 13D Page 6 of 9 Pages - -------------------------------- --------------------------- The following constitutes the Amendment No. 9 to the Schedule 13D filed by the undersigned (the "Amendment No. 9"). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Schedule 13D, as previously amended. This Amendment No. 9 amends and supplements the Schedule 13D as follows: Item 4. Purpose of Transaction. Item 4 is hereby amended and supplemented by adding the following thereto: As previously reported, the Reporting Persons acquired the Shares based on the Reporting Persons' belief that the Shares at the then-current market prices were undervalued and represented an attractive investment opportunity. In light of the recent dramatic rise in the per share trading price of the Issuer's common stock, Steel Partners II has decided to dispose of a portion of its Shares. Depending on market conditions, the Reporting Persons may dispose of additional Shares. The Reporting Persons are currently evaluating whether to continue their efforts with respect to their previously disclosed intention to commence a proxy solicitation of the shareholders of the Issuer. Item 5. Interest in Securities of the Issuer. Item 5 (a) and (c) are hereby amended and restated in its entirety as follows: (a) The aggregate percentage of Shares reported owned by each person named herein is based upon 9,608,315 Shares outstanding, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 1999. As of the close of business on December 22, 1999, Steel Partners II beneficially owns 529,230 Shares, constituting approximately 9.0% of the Shares outstanding. Mr. Lichtenstein beneficially owns 529,230 shares of Common Stock, representing approximately 5.5% of the Shares outstanding. Mr. Lichtenstein has sole voting and dispositive power with respect to the 529,230 Shares owned by Steel Partners II by virtue of his authority to vote and dispose of such Shares. As of the close of business on December 22, 1999, Newcastle beneficially owns 13,900 Shares of Common Stock, constituting approximately .15% of the shares outstanding. Mr. Schwarz has sole voting and dispositive power with respect to the 13,900 Shares owned by Newcastle by virtue of his authority to vote and dispose of such Shares. (c) Schedule A annexed hereto lists all transactions in the Issuer's Common Stock in the last sixty days by the Reporting Persons unless otherwise reported on a prior Schedule 13D. - -------------------------------- --------------------------- CUSIP No. 078 107 109 13D Page 7 of 9 Pages - -------------------------------- --------------------------- SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: December 23, 1999 STEEL PARTNERS II, L.P. By: Steel Partners, L.L.C. General Partner By: /s/ Warren G. Lichtenstein --------------------------------- Warren G. Lichtenstein Chief Executive Officer /s/ Warren G. Lichtenstein ------------------------------------- WARREN G. LICHTENSTEIN NEWCASTLE PARTNERS, L.P. By: /s/ Mark E. Schwarz --------------------------------- Mark E. Schwarz General Partner /s/ Mark E. Schwarz ------------------------------------- Mark E. Schwarz - -------------------------------- --------------------------- CUSIP No. 078 107 109 13D Page 8 of 9 Pages - -------------------------------- --------------------------- EXHIBIT INDEX Exhibit Page - ------- ---- 1. Joint Filing Agreement between Steel Partners II and Warren G. Lichtenstein (previously filed). 2. Joint Filing Agreement between Steel Partners II, L.P., Warren Lichtenstein, Sandera Partners, L.P., Newcastle Partners, L.P. and Mark E. Schwarz (previously filed). 3. Director Nomination Letter from Steel Partners II, L.P. to Bell Industries, Inc. dated January 8, 1999 (previously filed). 4. Letter to Tracy Edwards, President and Chief Executive Officer of Bell Industries, Inc. dated October 7, 1999 (previously filed). 5. Preliminary Proxy Statement of Steel Partners II, L.P. (previously filed). - -------------------------------- --------------------------- CUSIP No. 078 107 109 13D Page 9 of 9 Pages - -------------------------------- --------------------------- SCHEDULE A Transactions in the Shares During the Last 60 Days (Unless Otherwise Reported on a Prior Schedule 13D) Shares of Common Price Per Date of Stock (Sold) Share Sale STEEL PARTNERS, L.P. (547,200) 6.37 12/20/99 (256,880) 5.76 12/21/99 (338,400) 6.19 12/22/99 -----END PRIVACY-ENHANCED MESSAGE-----