0001193125-13-443112.txt : 20131115 0001193125-13-443112.hdr.sgml : 20131115 20131115080003 ACCESSION NUMBER: 0001193125-13-443112 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20131115 DATE AS OF CHANGE: 20131115 GROUP MEMBERS: ADAM WEISS GROUP MEMBERS: JAMES CRICHTON SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Tim Hortons Inc. CENTRAL INDEX KEY: 0001345111 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 510370507 STATE OF INCORPORATION: A6 FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-82248 FILM NUMBER: 131222437 BUSINESS ADDRESS: STREET 1: 874 SINCLAIR ROAD CITY: OAKVILLE STATE: A6 ZIP: L6K 2Y1 BUSINESS PHONE: (905) 845-6511 MAIL ADDRESS: STREET 1: 874 SINCLAIR ROAD CITY: OAKVILLE STATE: A6 ZIP: L6K 2Y1 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SCOUT CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001134406 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 640 FIFTH AVENUE STREET 2: 22ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2126227849 MAIL ADDRESS: STREET 1: 640 FIFTH AVENUE STREET 2: 22ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 SC 13D/A 1 d631090dsc13da.htm AMENDMENT NO. 2 TO SCHEDULE 13D Amendment No. 2 to Schedule 13D

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)1

 

 

Tim Hortons Inc.

(Name of Issuer)

Common Shares, without par value

(Title of Class of Securities)

88706M103

(CUSIP Number)

Erin Ross

Scout Capital Management, L.L.C.

Managing Director

General Counsel & Chief Compliance Officer

317 University Avenue

Palo Alto, CA 94301

(650) 485-4110

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

November 14, 2013

(Date of Event which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ¨

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

 

 

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 (“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).

 

 

 

CUSIP No. 88706M103   13D   Page 2 of 7

 

  1   

NAMES OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Scout Capital Management, L.L.C.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ¨        (b)  ¨

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS* (SEE INSTRUCTIONS)

 

    OO

  5  

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)  ¨

 

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

    Delaware, United States

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7    

SOLE VOTING POWER

 

     8   

SHARED VOTING POWER

 

    6,445,147

     9   

SOLE DISPOSITIVE POWER

 

   10   

SHARED DISPOSITIVE POWER

 

    6,445,147

  11    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    6,445,147

  12    

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE

INSTRUCTIONS)*  ¨

 

  13    

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    4.4%

  14    

TYPE OF REPORTING PERSON*

 

    IA

*SEE INSTRUCTION BEFORE FILLING OUT

CUSIP No. 88706M103   13D   Page 3 of 7

 

  1   

NAMES OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Adam Weiss

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ¨        (b)  ¨

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS* (SEE INSTRUCTIONS)

 

    OO

  5  

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)  ¨

 

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

    United States

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7    

SOLE VOTING POWER

 

     8   

SHARED VOTING POWER

 

    6,445,147

     9   

SOLE DISPOSITIVE POWER

 

   10   

SHARED DISPOSITIVE POWER

 

    6,445,147

  11    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    6,445,147

  12    

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE

INSTRUCTIONS)*  ¨

 

  13    

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    4.4%

  14    

TYPE OF REPORTING PERSON*

 

    IN

*SEE INSTRUCTION BEFORE FILLING OUT

CUSIP No. 88706M103   13D   Page 4 of 7

 

  1   

NAMES OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

James Crichton

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ¨        (b)  ¨

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS* (SEE INSTRUCTIONS)

 

    OO

  5  

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)  ¨

 

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

    United States

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7    

SOLE VOTING POWER

 

     8   

SHARED VOTING POWER

 

    6,445,147

     9   

SOLE DISPOSITIVE POWER

 

   10   

SHARED DISPOSITIVE POWER

 

    6,445,147

  11    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    6,445,147

  12    

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE

INSTRUCTIONS)*  ¨

 

  13    

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    4.4%

  14    

TYPE OF REPORTING PERSON*

 

    IN

*SEE INSTRUCTION BEFORE FILLING OUT

CUSIP No. 88706M103   13D   Page 5 of 7

 

EXPLANATORY NOTE

This Amendment No. 2 to Schedule 13D (“Amendment No. 2”) amends and supplements, as set forth below, the Schedule 13D filed by the Reporting Persons with respect to the Issuer on June 17, 2013 (together with all subsequent amendments thereto, the “Schedule 13D”). All capitalized terms not otherwise defined herein have the meanings ascribed to them in the Schedule 13D. The Schedule 13D is amended and supplemented by adding the information contained herein. Except as specifically amended and supplemented by this Amendment No. 2, Items in the Schedule 13D remain unchanged.

This Amendment No. 2 is being filed by the Reporting Persons to report a change in ownership in the Common Shares of the Issuer held by the Reporting Persons.

 

Item 3. Source and Amount of Funds or Other Consideration

The Reporting Persons may be deemed to be the beneficial owners of, in the aggregate, 6,445,147 Common Shares by virtue of their investment and voting discretion with respect to Common Shares purchased for the account of the Funds. The net investment cost of the Common Shares purchased by the Reporting Persons on behalf of the Funds was $339,412,195.52, including brokers’ commissions. The funds used to acquire the Common Shares reported in this Schedule 13D were from the working capital of the Funds and through margin borrowing pursuant to margin accounts in which the Funds hold the Common Shares.

 

Item 5. Interest in Securities of the Issuer

(a-b) The aggregate number and percentage of Common Shares to which this Schedule 13D relates is 6,445,147 Common Shares, constituting approximately 4.4% of the Common Shares outstanding, based upon 147,091,058 Common Shares outstanding as of November 4, 2013, as reported by the Issuer on its Quarterly Report on Form 10-Q for the quarterly period ended September 29, 2013. The Reporting Persons may be deemed to beneficially own the Common Shares purchased for the account of the Funds, as set forth in Items 7 through 11 on their respective cover pages of this Schedule 13D.

Each of Scout Capital Partners II, L.P., Scout Capital Long Term, L.P., Scout Capital Master Fund, Ltd. and Scout Capital Long Term Master, Ltd. directly owns, and with Scout Capital Management as their investment manager, has shared power to vote or dispose of, or to direct the voting or disposition of, the following amounts of Common Shares, respectively: 1,715,052, 388,402, 4,132,666 and 209,027. Scout Capital, L.L.C., a Delaware limited liability company (the “General Partner”), as the general partner of Scout Capital Partners II, L.P. and Scout Capital Long Term, L.P., may be deemed to beneficially own, and have shared power to vote or dispose of, or to direct the voting or disposition of, the 2,103,454 Common Shares directly owned by such Funds. The General Partner and Scout Capital Management are owned and controlled by Mr. Crichton and Mr. Weiss.

The executive officers of Scout Capital Management do not individually own any Common Shares.

CUSIP No. 88706M103   13D   Page 6 of 7

 

(c) A list of the transactions in the Issuer’s Common Shares that were effected by Scout Capital Management on behalf of the Funds during the past 60 days is attached as Exhibit 4 hereto and is incorporated herein by reference. All of the transactions listed on Exhibit 4 were effected in the open market, including through the facilities of alternative trading systems.

(d) Other than the Reporting Persons, the General Partner and the Funds identified above, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such Common Shares.

(e) As of August 21, 2013, each of the Reporting Persons ceased to be the beneficial owner of more than five percent of the Issuer’s Common Shares.

 

Item 7. Material to Be Filed as Exhibits

 

4. List of Transactions in Issuer’s Common Shares Effected by the Reporting Persons in the Last 60 Days

CUSIP No. 88706M103   13D   Page 7 of 7

 

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.

 

November 14, 2013

Date
SCOUT CAPITAL MANAGEMENT, L.L.C.
By:   /s/ Erin Ross*
Name:   Erin Ross
Title:   Managing Director, General Counsel & Chief Compliance Officer
ADAM WEISS
/s/ Adam Weiss *
JAMES CRICHTON
/s/ James Crichton **

 

* By: Erin Ross, Attorney-in-Fact Pursuant to Power of Attorney dated May 13, 2013 previously filed with the Securities and Exchange Commission as Exhibit 3 to Schedule 13D filed by Scout Capital Management, L.L.C. on May 13, 2013 on behalf of Adam Weiss, which Power of Attorney is incorporated by reference.
** By: Erin Ross, Attorney-in-Fact Pursuant to Power of Attorney dated May 13, 2013 previously filed with the Securities and Exchange Commission as Exhibit 4 to Schedule 13D filed by Scout Capital Management, L.L.C. on May 13, 2013 on behalf of James Crichton, which Power of Attorney is incorporated by reference.

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations

(See 18 U.S.C. 1001)

EX-99.4 2 d631090dex994.htm EX-99.4 EX-99.4

Exhibit 4

LIST OF TRANSACTIONS IN ISSUER’S COMMON SHARES EFFECTED BY THE REPORTING PERSONS IN THE LAST 60 DAYS

 

Trade Date      Transaction Type    Fund    Quantity      Price (not including commission)  
  10/1/2013       Sell    Scout Capital Master Fund, Ltd.      39,500         57.82   
  10/1/2013       Buy    Scout Capital Long Term Master, Ltd.      39,500         57.82   
  10/14/2013       Sell    Scout Capital Master Fund, Ltd.      5,994         58.36   
  10/14/2013       Sell    Scout Capital Long Term Master, Ltd.      358         58.36   
  10/15/2013       Sell    Scout Capital Long Term Master, Ltd.      300         58.36   
  11/7/2013       Sell    Scout Capital Master Fund, Ltd.      46,611         60.04   
  11/7/2013       Sell    Scout Capital Long Term Master, Ltd.      3,389         60.04   
  11/8/2013       Sell    Scout Capital Master Fund, Ltd.      8,949         60.01   
  11/8/2013       Sell    Scout Capital Long Term Master, Ltd.      451         60.01   
  11/11/2013       Sell    Scout Capital Master Fund, Ltd.      9,517         59.68   
  11/11/2013       Sell    Scout Capital Master Fund, Ltd.      96         59.20   
  11/11/2013       Sell    Scout Capital Long Term Master, Ltd.      483         59.68   
  11/11/2013       Sell    Scout Capital Long Term Master, Ltd.      4         59.20   
  11/12/2013       Sell    Scout Capital Partners II, L.P.      1,289         59.31   
  11/12/2013       Sell    Scout Capital Partners II, L.P.      3,095         59.29   
  11/12/2013       Sell    Scout Capital Master Fund, Ltd.      24,187         59.31   
  11/12/2013       Sell    Scout Capital Master Fund, Ltd.      58,078         59.29   
  11/12/2013       Sell    Scout Capital Long Term Master, Ltd.      1,224         59.31   
  11/12/2013       Sell    Scout Capital Long Term Master, Ltd.      2,937         59.29   
  11/13/2013       Sell    Scout Capital Partners II, L.P.      13,846         59.60   
  11/13/2013       Sell    Scout Capital Partners II, L.P.      11,580         59.61   
  11/13/2013       Sell    Scout Capital Partners II, L.P.      5,040         59.69   
  11/13/2013       Sell    Scout Capital Master Fund, Ltd.      33,365         59.60   
  11/13/2013       Sell    Scout Capital Master Fund, Ltd.      27,899         59.61   
  11/13/2013       Sell    Scout Capital Master Fund, Ltd.      12,146         59.69   
  11/13/2013       Sell    Scout Capital Long Term Master, Ltd.      1,689         59.60   
  11/13/2013       Sell    Scout Capital Long Term Master, Ltd.      1,411         59.61   
  11/13/2013       Sell    Scout Capital Long Term Master, Ltd.      614         59.69   
  11/14/2013       Sell    Scout Capital Partners II, L.P.      18,406         59.89   
  11/14/2013       Sell    Scout Capital Partners II, L.P.      18,406         59.90   
  11/14/2013       Sell    Scout Capital Partners II, L.P.      426         59.95   
  11/14/2013       Sell    Scout Capital Partners II, L.P.      5,408         59.87   
  11/14/2013       Sell    Scout Capital Partners II, L.P.      3,271         59.73   
  11/14/2013       Sell    Scout Capital Master Fund, Ltd.      44,350         59.89   
  11/14/2013       Sell    Scout Capital Master Fund, Ltd.      44,350         59.90   
  11/14/2013       Sell    Scout Capital Master Fund, Ltd.      1,023         59.95   
  11/14/2013       Sell    Scout Capital Master Fund, Ltd.      13,033         59.87   
  11/14/2013       Sell    Scout Capital Master Fund, Ltd.      7,884         59.73   
  11/14/2013       Sell    Scout Capital Long Term Master, Ltd.      2,244         59.89   
  11/14/2013       Sell    Scout Capital Long Term Master, Ltd.      2,244         59.90   
  11/14/2013       Sell    Scout Capital Long Term Master, Ltd.      51         59.95   
  11/14/2013       Sell    Scout Capital Long Term Master, Ltd.      659         59.87   
  11/14/2013       Sell    Scout Capital Long Term Master, Ltd.      398         59.73