-----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, S64E5y2DMzO7EIuwuAx3AASUU5yi1sHybn0B8YMdBsoyYR0g0TSp7lJcWSWL2q09 JcwygaeK91tT2tdhMEE6zA== 0001144204-10-042482.txt : 20100810 0001144204-10-042482.hdr.sgml : 20100810 20100810135317 ACCESSION NUMBER: 0001144204-10-042482 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100810 DATE AS OF CHANGE: 20100810 GROUP MEMBERS: KENNETH M. GARSCHINA GROUP MEMBERS: MICHAEL E. MARTINO FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MASON CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001218735 IRS NUMBER: 134121993 FILING VALUES: FORM TYPE: SC 13G SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Babcock & Wilcox Co CENTRAL INDEX KEY: 0001486957 STANDARD INDUSTRIAL CLASSIFICATION: ENGINES & TURBINES [3510] IRS NUMBER: 800558025 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-85605 FILM NUMBER: 101004466 BUSINESS ADDRESS: STREET 1: 13024 BALLANTYNE CORPORATE PLACE STREET 2: SUITE 700 CITY: CHARLOTTE STATE: NC ZIP: 28277 BUSINESS PHONE: 434-522-6800 MAIL ADDRESS: STREET 1: 13024 BALLANTYNE CORPORATE PLACE STREET 2: SUITE 700 CITY: CHARLOTTE STATE: NC ZIP: 28277 SC 13G 1 v193137_sc13g.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934* The Babcock & Wilcox Company - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $.01 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 05615F102 - -------------------------------------------------------------------------------- (CUSIP Number) August 4, 2010 - -------------------------------------------------------------------------------- (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 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. 05615F102 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS Mason Capital Management LLC, in its capacity as investment manager for certain investment funds and managed accounts - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES BENEFICIALLY 6,640,663 OWNED BY ----------------------------------------------------------- EACH 6 SHARED VOTING POWER REPORTING PERSON WITH -0- ----------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 6,640,663 ----------------------------------------------------------- 8 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,640,663 Shares of Common Stock - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [ ] CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.7% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) OO - -------------------------------------------------------------------------------- Page 2 of 12 Pages - ---------------------------- CUSIP No. 05615F102 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS Kenneth M. Garschina - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY ----------------------------------------------------------- EACH 6 SHARED VOTING POWER REPORTING PERSON WITH 6,640,663 ----------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- ----------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 6,640,663 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,640,663 Shares of Common Stock - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [ ] CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.7% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- Page 3 of 12 Pages - ---------------------------- CUSIP No. 05615F102 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS Michael E. Martino - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY ----------------------------------------------------------- EACH 6 SHARED VOTING POWER REPORTING PERSON WITH 6,640,663 ----------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- ----------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 6,640,663 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,640,663 Shares of Common Stock - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [ ] CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.7% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- Page 4 of 12 Pages SCHEDULE 13G ITEM 1(a). NAME OF ISSUER: --------------- The Babcock & Wilcox Company ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: ----------------------------------------------- The Harris Building 13024 Ballantyne Corporate Place Suite 700 Charlotte, North Carolina 28277 ITEM 2(a). NAME OF PERSON FILING: ---------------------- This Schedule is being filed jointly by the following reporting persons (hereinafter sometimes collectively referred to as the "Reporting Persons") pursuant to an Agreement of Joint Filing attached hereto as Exhibit A: (i) Mason Capital Management LLC, a Delaware limited liability company ("Mason Management"); (ii) Kenneth M. Garschina; and (iii) Michael E. Martino. Mason Management, Mr. Garschina and Mr. Martino are filing this Schedule with respect to 6,640,663 shares of Common Stock (the "Shares of Common Stock") directly owned by Mason Capital L.P., a Delaware limited partnership ("Mason Capital LP"), Mason Capital Master Fund, L.P., a Cayman Islands exempted limited partnership ("Mason Capital Master Fund"), and certain other funds and accounts (the "Managed Accounts"). Mason Management is the investment manager of each of Mason Capital LP, Mason Capital Master Fund and the Managed Accounts, and Mason Management may be deemed to have beneficial ownership over the Shares of Common Stock reported in this Schedule by virtue of the authority granted to Mason Management by Mason Capital LP, Mason Capital Master Fund and the Managed Accounts to vote and dispose of such shares. Mr. Garschina and Mr. Martino are managing principals of Mason Management. ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: ------------------------------------------------------------ The principal business office address of Mason Management, Mr. Garschina and Mr. Martino is: 110 East 59th Street New York, New York 10022 Page 5 of 12 Pages ITEM 2(c). CITIZENSHIP: ------------ The place of organization or citizenship of each Reporting Person is as follows: Name of Reporting Person Place of Organization/Citizenship - ------------------------ --------------------------------- Mason Capital Management LLC Delaware Kenneth M. Garschina United States Michael E. Martino United States ITEM 2(d). TITLE OF CLASS OF SECURITIES: ----------------------------- Common Stock, par value $.01 per share ITEM 2(e). CUSIP NUMBER: ------------- 05615F102 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO ss.ss. 240.13d-1(b), OR -------------------------------------------------------------- 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: ---------------------------------------------------------- Not applicable. ITEM 4. OWNERSHIP. ---------- Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (i) Mason Capital Management LLC (a) Amount beneficially owned: 6,640,663. (b) Percent of class: 5.7%. (c) Number of shares as to which the person has: (i) Sole power to vote or direct the vote 6,640,663. (ii) Shared power to vote or direct the vote -0-. (iii) Sole power to dispose or direct the disposition of 6,640,663. (iv) Shared power to dispose or direct the disposition of -0-. Page 6 of 12 Pages (ii) Kenneth M. Garschina (a) Amount beneficially owned: 6,640,663. (b) Percent of class: 5.7%. (c) Number of shares as to which the person has: (i) Sole power to vote or direct the vote -0-. (ii) Shared power to vote or direct the vote 6,640,663. (iii) Sole power to dispose or direct the disposition of -0-. (iv) Shared power to dispose or direct the disposition of 6,640,663. (iii) Michael E. Martino (a) Amount beneficially owned: 6,640,663. (b) Percent of class: 5.7%. (c) Number of shares as to which the person has: (i) Sole power to vote or direct the vote -0-. (ii) Shared power to vote or direct the vote 6,640,663. (iii) Sole power to dispose or direct the disposition of -0-. (iv) Shared power to dispose or direct the disposition of 6,640,663. The number of shares beneficially owned and the percentage of outstanding shares represented thereby for each Reporting Person have been computed in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. The percentages of ownership described above are based on 116,225,732 Shares of Common Stock outstanding as of July 31, 2010, as reported in the issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 9, 2010. ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. --------------------------------------------- If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Page 7 of 12 Pages ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. ---------------------------------------------------------------- The right to receive dividends from, or the proceeds from the sale of, all Shares of Common Stock reported in this Schedule as beneficially owned by Mason Management, Mr. Garschina and Mr. Martino is held by Mason Capital LP, Mason Capital Master Fund or the Managed Accounts, as the case may be, all of which are the advisory clients of Mason Management. To the knowledge of the Reporting Persons, none of these advisory clients holds such right with respect to more than five percent of the outstanding shares of Common Stock. Mason Management, Mr. Garschina and Mr. Martino disclaim beneficial ownership of all Shares of Common Stock reported in this Schedule pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH --------------------------------------------------------- ACQUIRED THE SECURITIES BEING REPORTED ON BY THE PARENT ------------------------------------------------------- HOLDING COMPANY OR CONTROL PERSON. ---------------------------------- Not applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. ---------------------------------------------------------- Not applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. ------------------------------- Not applicable. Page 8 of 12 Pages 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. SIGNATURE --------- After reasonable inquiry and to the best of the knowledge and belief of the undersigned Reporting Person, the undersigned Reporting Person certifies that the information set forth in this statement with respect to it is true, complete and correct. Dated: August 10, 2010 MASON CAPITAL MANAGEMENT LLC By: /s/ John Grizzetti ---------------------------- John Grizzetti Chief Financial Officer Page 9 of 12 Pages 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. SIGNATURE --------- After reasonable inquiry and to the best of the knowledge and belief of the undersigned Reporting Person, the undersigned Reporting Person certifies that the information set forth in this statement with respect to him is true, complete and correct. Dated: August 10, 2010 /s/ Kenneth M. Garschina ---------------------------- Kenneth M. Garschina Page 10 of 12 Pages 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. SIGNATURE --------- After reasonable inquiry and to the best of the knowledge and belief of the undersigned Reporting Person, the undersigned Reporting Person certifies that the information set forth in this statement with respect to him is true, complete and correct. Dated: August 10, 2010 /s/ Michael E. Martino ---------------------------- Michael E. Martino Page 11 of 12 Pages EXHIBIT A AGREEMENT OF JOINT FILING THE BABCOCK & WILCOX COMPANY COMMON STOCK In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby confirm the agreement by and among them to the joint filing on behalf of them of a Statement on Schedule 13G and any and all amendments thereto, with respect to the above referenced securities and that this Agreement be included as an Exhibit to such filing. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to constitute one and the same Agreement. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of this 10th day of August, 2010. MASON CAPITAL MANAGEMENT LLC By: /s/ John Grizzetti ---------------------------- John Grizzetti Chief Financial Officer /s/ Kenneth M. Garschina -------------------------------- Kenneth M. Garschina /s/ Michael E. Martino -------------------------------- Michael E. Martino Page 12 of 12 Pages -----END PRIVACY-ENHANCED MESSAGE-----