-----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, UVyY1lVMro/9zG7oD+TPFkokaFELuOhdhpOCWTm8XeJIcxN8+9dLpsF1EF5HNlhe L2z4zkTXZs5exiyjzDtCnw== 0000909518-01-000304.txt : 20010319 0000909518-01-000304.hdr.sgml : 20010319 ACCESSION NUMBER: 0000909518-01-000304 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20010316 GROUP MEMBERS: ALFRED D. KINGSLEY GROUP MEMBERS: GARY K. DUBERSTEIN GROUP MEMBERS: GREENBELT CORP. GROUP MEMBERS: GREENHOUSE PARTNERS, L.P. GROUP MEMBERS: GREENHUT L.L.C. GROUP MEMBERS: GREENHUT OVERSEAS, L.L.C. GROUP MEMBERS: GREENSEA OFFSHORE, L.P. GROUP MEMBERS: GREENTREE PARTNERS, L.P. GROUP MEMBERS: GREENWAY PARTNERS L P SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BETHLEHEM STEEL CORP /DE/ CENTRAL INDEX KEY: 0000011860 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 240526133 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-34016 FILM NUMBER: 1570373 BUSINESS ADDRESS: STREET 1: 1170 EIGHTH AVE CITY: BETHLEHEM STATE: PA ZIP: 18016-7699 BUSINESS PHONE: 6106942424 MAIL ADDRESS: STREET 1: 1170 EIGHTH AVE CITY: BETHLEHEM STATE: PA ZIP: 18016-7699 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GREENWAY PARTNERS L P CENTRAL INDEX KEY: 0000938356 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 277 PARK AVE 27TH FL CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2123505100 MAIL ADDRESS: STREET 1: 277 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 SC 13D/A 1 0001.txt ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2) ----------- BETHLEHEM STEEL CORPORATION (Name of Issuer) ----------- Common Stock, $1.00 par value per share 087509105 (Title of class of securities) (CUSIP number) Gary K. Duberstein, Esq. Greenway Partners, L.P. 277 Park Avenue, 27th Floor New York, New York 10172 (212) 350-5100 (Name, address and telephone number of person authorized to receive notices and communications) MARCH 12, 2001 (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 ss.ss. 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. Seess. 240.13d-7 for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 15 pages) ================================================================================ 56392.0003
- ----------------------------------------------------- ------------------------------------------------------- CUSIP No. 087509105 13D Page 2 of 15 Pages - ----------------------------------------------------- ------------------------------------------------------- - ---------------------- ----------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON GREENWAY PARTNERS, L.P. S.S. OR I.R.S. IDENTIFICATION NO. 13-3714238 OF ABOVE PERSON - ---------------------- ----------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ----------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC, 00 - ---------------------- ----------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ----------------------- ------------------ ------------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER: 1,959,500 SHARES - ------------------ ------------------------------------------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY - ------------------ ------------------------------------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER: 1,959,500 REPORTING - ------------------ ------------------------------------------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ----------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,959,500 - ---------------------- ----------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.5% - ---------------------- ----------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ---------------------- ----------------------------------------------------------------------------------------------------------- - ----------------------------------------------------- -------------------------------------------------------- CUSIP No. 087509105 13D Page 3 of 15 Pages - ----------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON GREENTREE PARTNERS, L.P. S.S. OR I.R.S. IDENTIFICATION NO. 13-3752875 OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------------ 4 SOURCE OF FUNDS: WC, 00 - ---------------------- ------------------------------------------------------------------------------------------------------------ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ----------------------- ------------------ ------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 425,000 SHARES - ------------------ ------------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY - ------------------ ------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 425,000 REPORTING - ------------------ ------------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 425,000 - ---------------------- ------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.3% - ---------------------- ------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON: PN - ---------------------- ------------------------------------------------------------------------------------------------------------ - ----------------------------------------------------- -------------------------------------------------------- CUSIP No. 087509105 13D Page 4 of 15 Pages - ----------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON GREENHOUSE PARTNERS, L.P. S.S. OR I.R.S. IDENTIFICATION NO. 13-3793447 OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------------ 4 SOURCE OF FUNDS: WC, AF, 00 - ---------------------- ------------------------------------------------------------------------------------------------------------ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ----------------------- ------------------ ------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES - ------------------ ------------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 1,959,500 OWNED BY - ------------------ ------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING - ------------------ ------------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,959,500 - ---------------------- ------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,959,500 - ---------------------- ------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.5% - ---------------------- ------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON: PN - ---------------------- ------------------------------------------------------------------------------------------------------------ - ----------------------------------------------------- ------------------------------------------------------- CUSIP No. 087509105 13D Page 5 of 15 Pages - ----------------------------------------------------- ------------------------------------------------------- - ---------------------- ----------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON GREENHUT L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. 13-3793450 OF ABOVE PERSON - ---------------------- ----------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ----------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC, AF, 00 - ---------------------- ----------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ----------------------- ------------------ ------------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER: 0 SHARES - ------------------ ------------------------------------------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER: 425,000 OWNED BY - ------------------ ------------------------------------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING - ------------------ ------------------------------------------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER: 425,000 - ---------------------- ----------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 425,000 - ---------------------- ----------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.3% - ---------------------- ----------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - ---------------------- ----------------------------------------------------------------------------------------------------------- - ----------------------------------------------------- ------------------------------------------------------- CUSIP No. 087509105 13D Page 6 of 15 Pages - ----------------------------------------------------- ------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON GREENBELT CORP. S.S. OR I.R.S. IDENTIFICATION NO. 13-3791931 OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------------ 4 SOURCE OF FUNDS: 00 - ---------------------- ------------------------------------------------------------------------------------------------------------ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ----------------------- ------------------ ------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 3,330,000 SHARES - ------------------ ------------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY - ------------------ ------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 3,330,000 REPORTING - ------------------ ------------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------ ------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 3,330,000 - ---------------------- ------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 2.6% - ---------------------- ------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON: CO - ---------------------- ------------------------------------------------------------------------------------------------------------ - ----------------------------------------------------- ------------------------------------------------------- CUSIP No. 087509105 13D Page 7 of 15 Pages - ----------------------------------------------------- ------------------------------------------------------- - ---------------------- ----------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON GREENSEA OFFSHORE, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ----------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ----------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC, 00 - ---------------------- ----------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Cayman Islands - ----------------------- ------------------ ------------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER: 1,800,000 SHARES - ------------------ ------------------------------------------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY - ------------------ ------------------------------------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER: 1,800,000 REPORTING - ------------------ ------------------------------------------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ----------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,800,000 - ---------------------- ----------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.4% - ---------------------- ----------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ---------------------- ----------------------------------------------------------------------------------------------------------- - ----------------------------------------------------- ------------------------------------------------------- CUSIP No. 087509105 13D Page 8 of 15 Pages - ----------------------------------------------------- ------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON GREENHUT OVERSEAS, L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. 13-3868906 OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------------ 4 SOURCE OF FUNDS: WC, AF, 00 - ---------------------- ------------------------------------------------------------------------------------------------------------ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ----------------------- ------------------ ------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES - ------------------ ------------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 1,800,000 OWNED BY - ------------------ ------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING - ------------------ ------------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,800,000 - ---------------------- ------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,800,000 - ---------------------- ------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ---------------------- ------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.4% - ---------------------- ------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON: OO - ---------------------- ------------------------------------------------------------------------------------------------------------ - ----------------------------------------------------- ------------------------------------------------------- CUSIP No. 087509105 13D Page 9 of 15 Pages - ----------------------------------------------------- ------------------------------------------------------- - ---------------------- ----------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON ALFRED D. KINGSLEY S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ----------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ----------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: PF, AF, 00 - ---------------------- ----------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States - ----------------------- ------------------ ------------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER: 656,900 SHARES - ------------------ ------------------------------------------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER: 7,514,500 OWNED BY - ------------------ ------------------------------------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER: 656,900 REPORTING - ------------------ ------------------------------------------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER: 7,514,500 - ---------------------- ----------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 8,171,400 - ---------------------- ----------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 6.3% - ---------------------- ----------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- ----------------------------------------------------------------------------------------------------------- - ----------------------------------------------------- ------------------------------------------------------- CUSIP No.087509195 13D Page 10 of 15 Pages - ----------------------------------------------------- ------------------------------------------------------- - ---------------------- ----------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON GARY K. DUBERSTEIN S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ----------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ----------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: PF, AF, 00 - ---------------------- ----------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States - ----------------------- ------------------ ------------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER: 5,000 SHARES - ------------------ ------------------------------------------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER: 7,514,500 OWNED BY - ------------------ ------------------------------------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER: 5,000 REPORTING - ------------------ ------------------------------------------------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER: 7,514,500 - ---------------------- ----------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 7,519,500 - ---------------------- ----------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ---------------------- ----------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 5.8% - ---------------------- ----------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- -----------------------------------------------------------------------------------------------------------
This Amendment No. 2 (this "Amendment No. 2") amends the Statement on Schedule 13D, filed on August 16, 1999 and Amendment No. 1, filed November 13, 2000 (the "Schedule 13D") by and on behalf of Greenway Partners, L.P. ("Greenway"), Greentree Partners, L.P. ("Greentree"), Greenhouse Partners, L.P. ("Greenhouse"), Greenhut, L.L.C. ("Greenhut"), Greenbelt Corp. ("Greenbelt"), Greensea Offshore, L.P. ("Greensea"), Greenhut Overseas, L.L.C. ("Greenhut Overseas"), Alfred D. Kingsley ("Kingsley") and Gary K. Duberstein ("Duberstein" and, together with the foregoing persons, the "Reporting Persons"). Capatalized terms used herein and not defined herein have the meanings ascribed thereto in the Schedule 13D. ITEM 4. PURPOSE OF THE TRANSACTION On November 9, 2000, in compliance with applicable advance notice requirements, Greenway submitted a shareholder proposal and supporting statement to Bethlehem Steel Corporation (the "Company" or "Bethlehem") dealing with, among other issues, the need for Bethlehem to become a catalyst for consolidation in the domestic steel industry (the "November Proposal"). After discussions with Bethlehem and in light of recent developments in the worldwide steel industry, Greenway agreed to certain changes in the November Proposal, and Bethlehem indicated it would support the proposal as revised (the "Revised Proposal"). The Revised Proposal and the Comments and Recommendations of the Board of Directors of Bethlehem as they appear in Bethlehem's Proxy Statement, dated March 12, 2001, are annexed hereto as Exhibit 4 and incorporated herein by reference. The Reporting Persons are pleased with Bethlehem's endorsement of the Revised Proposal and Bethlehem's stated support of consolidation in the domestic steel industry. Except as indicated above, the information set forth in Item 4 of the Schedule 13D remains unchanged. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a) As of the date of this Statement, the Reporting Persons beneficially owned in the aggregate 8,176,400 Shares constituting 6.3% of the outstanding Shares (the percentage of Shares owned being based upon 129,780,254 Shares outstanding at March 5, 2001, as set forth in the Company's Definitive Proxy Statement filed with the Securities and Exchange Commission on March 12, 2001). The Reporting Persons may be deemed to have direct beneficial ownership of Shares as follows: Approximate Number of Percentage of Name Shares Outstanding Shares - ---- ------ ------------------ Greenway 1,959,500 1.5% Greentree 425,000 0.3% Greenbelt 3,330,000 2.6% Greensea 1,800,000 1.4% Kingsley 656,900 0.5% Duberstein 5,000 less than 0.1% Greenhouse, as the general partner of Greenway, may be deemed to own beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) Shares that Greenway may be deemed to possess direct beneficial ownership. Each of Kingsley and Duberstein, as general partners of Greenhouse, may be deemed to beneficially own Shares which Greenhouse may be deemed to beneficially own. Each of Kingsley and Duberstein disclaims beneficial ownership of such Shares for all other purposes. Greenhut, as the general partner of Greentree, may be deemed to own beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) Shares which Greentree may be deemed to possess direct beneficial ownership. Each of Kingsley and Duberstein, as members of 11 Greenhut, may be deemed to beneficially own Shares that Greenhut may be deemed to beneficially own. Each of Kingsley and Duberstein disclaims beneficial ownership of such Shares for all other purposes. Greenhut Overseas, as the investment general partner of Greensea, may be deemed to own beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) Shares which Greensea may be deemed to possess direct beneficial ownership. Each of Kingsley and Duberstein, as members of Greenhut Overseas, may be deemed to beneficially own Shares that Greenhut Overseas may be deemed to beneficially own. Each of Kingsley and Duberstein disclaims beneficial ownership of such Shares for all other purposes. Greenbelt has direct beneficial ownership of the Shares in the accounts which it manages. Each of Kingsley and Duberstein, as executive officers and directors of Greenbelt, may be deemed to beneficially own Shares that Greenbelt beneficially owns. Each of Kingsley and Duberstein hereby disclaims beneficial ownership of such Shares for all other purposes. (b) Greenway has the sole power to vote or direct the vote of 1,959,500 Shares and the sole power to dispose or to direct the disposition of such Shares. Greenhouse and Kingsley and Duberstein may be deemed to share with Greenway the power to vote or to direct the vote and to dispose or to direct the disposition of such Shares. Greentree has the sole power to vote or direct the vote of 425,000 Shares and the sole power to dispose or direct the disposition of such Shares. Greenhut and Kingsley and Duberstein may be deemed to share with Greentree the power to vote or to direct the vote and to dispose or to direct the disposition of such Shares. Greensea has the sole power to vote or direct the vote of 1,800,000 Shares and the sole power to dispose or direct the disposition of such Shares. Greenhut Overseas and Kingsley and Duberstein may be deemed to share with Greensea the power to vote or to direct the vote and to dispose or to direct the disposition of such Shares. Greenbelt has the sole power to vote or direct the vote of 3,330,000 Shares and the sole power to dispose or direct the disposition of such Shares. Kingsley and Duberstein may be deemed to share with Greenbelt the power to vote or to direct the vote and to dispose or to direct the disposition of such Shares. Kingsley has the sole power to vote or direct the vote of 656,900 Shares and the sole power to dispose or direct the disposition of such Shares. Duberstein has the sole power to vote or direct the vote of 5,000 Shares and the sole power to dispose or direct the disposition of such Shares. (c) Information concerning transactions in the Shares by the Reporting Persons during the past 60 days is set forth in Exhibit 5 attached hereto, which is incorporated herein by reference. (d) 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, the Shares, except the dividends from, or proceeds from the sale of Shares in each respective account managed by Greenbelt will be delivered into each such respective account. None of such individual managed accounts has an interest in more than five percent of the class of outstanding Shares. (e) Not applicable. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS The following Exhibit is filed herewith: 4. Revised Proposal, submitted to the Company pursuant to Rule 14a-8 and the comments and recommendations of the Board of Directors of Bethlehem. 12 5. Information concerning transactions in the Shares effected by the Reporting Persons in the last sixty days. [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 13 SIGNATURES After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information contained in this Statement is true, complete and correct. Dated: March 15, 2001 GREENHOUSE PARTNERS, L.P. GREENWAY PARTNERS, L.P. By: Greenhouse Partners, L.P., its By: /s/ Gary K. Duberstein general partner ------------------------------ Gary K. Duberstein, general partner By: /s/ Gary K. Duberstein --------------------------------- Gary K. Duberstein, general partner GREENHUT, L.L.C. GREENTREE PARTNERS, L.P. By: Greenhut, L.L.C., its general By: /s/ Gary K. Duberstein partner ------------------------------ Gary K. Duberstein, Member By: /s/ Gary K. Duberstein --------------------------------- Gary K. Duberstein, Member GREENHUT OVERSEAS, L.L.C. GREENSEA OFFSHORE, L.P. By: Greenhut Overseas, L.L.C., its By: /s/ Gary K. Duberstein investment general partner ------------------------------ Gary K. Duberstein, Member By: /s/ Gary K. Duberstein --------------------------------- Gary K. Duberstein, Member GREENBELT CORP. By: /s/ Alfred D. Kingsley ------------------------------------- Alfred D. Kingsley, President /s/ Alfred D. Kingsley ----------------------------------------- Alfred D. Kingsley /s/ Gary K. Duberstein ----------------------------------------- Gary K. Duberstein 14 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION - ----------- ----------- 4. Amended Proposal, submitted to the Company pursuant to Rule 14a-8 and the comments and recommendations of the Board of Directors of Bethlehem. 5. Information concerning transactions in the Shares effected by the Reporting Persons in the last sixty days. 15 EX-99 2 0002.txt 4 Exhibit 4 A. Revised Proposal: ---------------- WHEREAS, the price of Bethlehem Steel Common Stock has plummeted to historic lows under $3 per share, thus valuing the common equity of Bethlehem at under $400 million at a time when virtually the entire domestic steel industry is similarly depressed. RESOLVED, the shareholders urge the Board to take BOLD steps to counter the low stock price, such as by implementing a substantial stock buyback program. The Board must not be blind to the crisis engulfing Bethlehem Steel. The depression level share prices afforded Bethlehem as well as many of its industry peers, indicates a crisis of market confidence in Bethlehem and the steel industry. We urge the Board to be BOLD, and to demonstrate its confidence in Bethlehem by purchasing a substantial amount of its stock. Such action would turn the present crisis into an opportunity. No one would have imagined a few years ago that a $100 million investment by Bethlehem in a buyback program could reduce outstanding shares by approximately 25%. With the price of Bethlehem stock at such low levels, we would be surprised if any other investment Bethlehem could make would surpass the rate of return on a substantial stock buyback. When the industry situation improves, Bethlehem's remaining shares will then receive the double benefit of increased earnings and fewer shares. We believe the resulting improved earnings per share will lead to a substantially higher stock price for Bethlehem's shares. Funds for a stock buyback can be generated by asset sales. Over the years, Bethlehem has amassed interests in a large number of assets, including joint ventures, transportation companies and mining operations. Through sales and/or sale and leaseback transactions involving certain of these assets, we believe Bethlehem could raise several hundred million dollars without materially adversely affecting its steelmaking operations. Proceeds from these transactions could be divided between a substantial stock buyback and debt repayment. BOLD steps are also required to deal with the worldwide oversupply of steel that forces down prices and profitability. While Bethlehem's repeated actions against dumping of foreign steel is important, it is not enough. In light of Bethlehem's losses, we urge the Board to cut expenses even deeper and faster than planned. More than that, we urge Bethlehem to take the lead in fostering major industry consolidation in the United States. As noted in numerous articles, there is general acknowledgment that the major players must close inefficient plants, scale back production and consolidate. Such action already appears underway across the Atlantic where Usinor, Europe's largest steel producer, recently announced plans to merge with Aceralia of Spain and Arbed of Luxembourg in what would create the world's biggest steelmaker. Greenway Partners and its affiliates are among the largest shareholders of Bethlehem Steel. After receiving our proposal, Bethlehem's Board in early December took the positive step of authorizing the repurchase of up to 25 million shares. However, as of December 31, 2000, only approximately 2.7 million shares had been repurchased. We ask our fellow shareholders to join with us and send a message calling for BOLD action in taking the lead in fostering major steel industry consolidation in the United States and in repurchasing additional shares. Present circumstances dictate a need for more than just "business as usual". The time has come for action." B. Comments and Recommendations of the Bethlehem Board of Directors: ---------------------------------------------------------------- Bethlehem's management and its Board of Directors are supportive of the proposal made by Greenway Partners. Bethlehem and most of the domestic steel industry are facing an intensively competitive business environment characterized by excess global steel capacity, unfairly traded steel imports, a highly fragmented industry, a consolidating customer and supplier base and high exit costs. Given this difficult business environment, Bethlehem has taken, and is taking, bold actions to improve its overall competitiveness and long-term performance and to increase the value of Bethlehem for its stockholders. In this regard, Bethlehem has taken the following actions: o Bethlehem's Board of Directors has considered, and will continue to consider, the repurchase of its common and preferred stock and the declaration of a common stock dividend on the basis of attained financial results and business outlook. On December 7, 2000, the Board authorized the repurchase of up to 25 million shares of Common Stock depending on price and availability. As of the Record Date, Bethlehem has purchased approximately 2.7 million shares under this program. o Bethlehem has aggressively re-deployed assets to more productive uses. Since 1995, Bethlehem has sold assets totaling $818 million. During 2000, Bethlehem had asset sales of $126 million including the sale of its stainless steel operations in Massillon, Ohio, sale and leasebacks of a lake vessel and the new wide continuous slab casting equipment at Sparrows Point and the sale of its ownership interest in Presque Isle Corporation. Bethlehem is currently marketing for sale various non-strategic assets including the South Buffalo Railway Company and its ownership interest in two iron ore properties, Hibbing Taconite and MBR. o During 2000, Bethlehem took a number of actions to aggressively reduce costs and improve the management of its assets. For example, Bethlehem consolidated its three major flat rolled products divisions into two, eliminating Bethlehem Lukens Plate, it established a shared services unit and a smaller corporate center, and it reduced the size of its work force company-wide by approximately 2,000 employees. Further significant cost reduction initiatives are being implemented including further reductions in the work force. Bethlehem also made strategic capital expenditures including the new Cold Mill, wide caster and pulverized coal injection at Sparrows Point. o Bethlehem has explored, and will continue to explore, opportunities for joint ventures, partnerships, facility sharing arrangements and mergers. Recent examples include Bethlehem's acquisition of Lukens Inc. and various joint ventures including Columbus Coatings Company, which will provide coated products to the automotive market, and BethNova, which will provide automakers a premium source of tubing for hydroforming applications. Bethlehem believes that bold and urgent actions must be taken by steel companies, the steelworkers union and the government to address the problems endemic to the industry. Consolidation of the domestic industry, including the permanent elimination of non-competitive facilities, needs to occur. Capital, whether it be private or public, should be allocated to those companies that are capable of operating successfully in a fair marketplace. Full and effective enforcement of our existing trade laws would be a major step in correcting unfair steel trade. Finally, a workable solution to health care and related legacy costs must be found. Bethlehem's vision is to be the "Premier Steel Company". To be Premier, we must create value for our stockholders. Bethlehem's management and its Board of Directors are committed to pursuing all appropriate actions that they believe will increase the value of Bethlehem for its stockholders. The Board of Directors recommends that stockholders vote "For" the proposal. Such a vote will indicate your recommendation that Bethlehem's management and Board of Directors continue to take all appropriate actions to increase stockholder value. 2 EX-99 3 0003.txt 5 Exhibit 5 TRANSACTIONS IN SHARES OF THE COMPANY The Reporting Persons engaged in the following transactions in Shares of the Company during the past 60 days. All transactions involved purchases of Shares on the New York Stock Exchange.
Reporting Person With Direct Beneficial Date of Number of Price Per Share Ownership Transaction Shares (Excluding Commission) --------- ----------- ------ ---------------------- Greenbelt 01/31/01 141,900 $2.4439 Greenbelt 02/01/01 58,100 $2.2700
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