SC 13D/A 1 p09-0750sc13da.txt GENCORP INC. OMB APPROVAL UNITED STATES OMB Number: 3235-0145 SECURITIES AND EXCHANGE COMMISSION Expires: February 29, 2009 Washington, D.C. 20549 Estimated average burden hours per response. . . . . . . 14.5 ------------- SCHEDULE 13D/A (Rule 13d-102) (AMENDMENT NO. 7) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) Under the Securities Exchange Act of 1934 Gencorp Inc. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------------------------------- (Title of Class of Securities) 368682100 -------------------------------------------------------------------------------- (CUSIP Number) Sandell Asset Management Corp. 40 West 57th Street 26th Floor New York, NY 10019 Attention: Richard Gashler, General Counsel 212-603-5700 With a Copy to: Marc Weingarten, Esq. Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022 212-756-2000 ----------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 6, 2009 --------------- (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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7 for other parties to whom copies are to be sent. -------------------- * 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). (Continued on following pages) (Page 1 of 8 Pages) ------------------------------------------------------------------------------- CUSIP No 368682100 SCHEDULE 13D Page 2 of 8 ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Castlerigg Master Investments Ltd. ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] ------------------------------------------------------------------------------ 3 SEC USE ONLY ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED 3,259,810 ---------------------------------------------------------------- BY EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 ---------------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 3,259,810 ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,259,810 ------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6% ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON CO ------------------------------------------------------------------------------ ------------------------------------------------------------------------------- CUSIP No 368682100 SCHEDULE 13D Page 3 of 8 ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Sandell Asset Management Corp. ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] ------------------------------------------------------------------------------- 3 SEC USE ONLY ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS AF ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [X] ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED 3,259,810 ---------------------------------------------------------------- BY EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 ---------------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 3,259,810 ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,259,810 ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6% ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON CO ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- CUSIP No 368682100 SCHEDULE 13D Page 4 of 8 ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Castlerigg International Limited ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] ------------------------------------------------------------------------------- 3 SEC USE ONLY ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS AF ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [X] ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED 3,259,810 ---------------------------------------------------------------- BY EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 ---------------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 3,259,810 ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,259,810 ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6% ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON CO ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- CUSIP No 368682100 SCHEDULE 13D Page 5 of 8 ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Castlerigg International Holdings Limited ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] ------------------------------------------------------------------------------- 3 SEC USE ONLY ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS AF ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED 3,259,810 ---------------------------------------------------------------- BY EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 ---------------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 3,259,810 ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,259,810 ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6% ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON CO ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- CUSIP No 368682100 SCHEDULE 13D Page 6 of 8 ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Thomas E. Sandell ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] ------------------------------------------------------------------------------- 3 SEC USE ONLY ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS AF ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [X] ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Sweden ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED 3,259,810 ---------------------------------------------------------------- BY EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 ---------------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 3,259,810 ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,259,810 ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6% ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON IN ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- CUSIP No 368682100 SCHEDULE 13D Page 7 of 8 ------------------------------------------------------------------------------- This Amendment No. 7 is filed with respect to the shares of the common stock, $0.10 par value (the "Common Stock"), of GenCorp. Inc., an Ohio corporation ("Issuer"), beneficially owned by the Reporting Persons (as defined below) as of April 8, 2009 and amends and supplements the Schedule 13D filed on March 16, 2005, as amended (collectively, the "Schedule 13D"). Except as set forth herein, the Schedule 13D is unmodified. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER Paragraphs (a), (b) and (c) of Item 5 of the Schedule 13D are hereby amended and restated as follows: (a) Castlerigg Master Investments owns 3,259,810 shares of Common Stock representing approximately 5.6% of the outstanding shares of Common Stock. By virtue of control relationships, Castlerigg International, Castlerigg Holdings, SAMC and Sandell may be deemed to beneficially own the shares of Common Stock owned by Castlerigg Master Investments. The Reporting Persons as a group beneficially own 3,259,810 shares of Common Stock, representing approximately 5.6% of the outstanding shares of Common Stock. The percentages used herein are based upon the 58,500,000 shares of Common Stock reported to be outstanding as of March 23, 2009 by the Issuer in its Quarterly Report on Form 10-Q for the quarterly period ended February 28, 2009, filed with the Securities and Exchange Commission on March 27, 2009. (b) None of the Reporting Persons has sole power to vote or to direct the vote or sole power to dispose or to direct the disposition of the Shares. Each of Castlerigg Master Investments, Castlerigg International, Castlerigg Holdings, SAMC and Sandell has shared power to vote and to direct the vote and shared power to dispose and to direct the disposition of the 3,259,810 shares of Common Stock held by Castlerigg Master Investments. (c) Information concerning transactions in the shares of Common Stock effected by the Reporting Persons since the Filing of Amendment No. 6 to the Schedule 13D with the Securities and Exchange Commission on March 25, 2009 is set forth in Exhibit C hereto and is incorporated herein by reference. All of the transactions in shares of Common Stock listed on Exhibit C hereto were effected in open market sales. ITEM 6: CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER The 2 1/4% Convertible Subordinated Notes due 2024 of the Issuer referenced in Item 3 of the Schedule 13D are no longer held by the Reporting Persons. ------------------------------------------------------------------------------- CUSIP No 368682100 SCHEDULE 13D Page 8 of 8 ------------------------------------------------------------------------------- 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. Dated: April 8, 2009 CASTLERIGG MASTER INVESTMENTS LTD. By: Sandell Asset Management Corp., as investment manager By: /s/ Thomas E. Sandell ---------------------------------- Thomas E. Sandell Chief Executive Officer CASTLERIGG INTERNATIONAL LIMITED By: Sandell Asset Management Corp., as investment manager By: /s/ Thomas E. Sandell ---------------------------------- Thomas E. Sandell Chief Executive Officer CASTLERIGG INTERNATIONAL HOLDINGS LIMITED By: Sandell Asset Management Corp., as investment manager By: /s/ Thomas E. Sandell ---------------------------------- Thomas E. Sandell Chief Executive Officer SANDELL ASSET MANAGEMENT CORP. By: /s/ Thomas E. Sandell ---------------------------------- Thomas E. Sandell Chief Executive Officer /s/ Thomas E. Sandell ----------------------------------- Thomas E. Sandell EXHIBIT C TRANSACTIONS IN THE SHARES BY THE REPORTING PERSONS SINCE THE FILING OF AMENDMENT NO. 6 Castlerrigg Master Investments Shares of Common Date of Stock Purchased Price Per Purchase or Sale (Sold) Share ($) ---------------- ---------------- --------- 03/26/2009 (131,530) 2.43 03/27/2009 (96,100) 2.50 03/30/2009 (96,800) 2.05 04/2/2009 (14,200) 2.34 04/3/2009 (93,200) 2.39 04/6/2009 (89,600) 2.42 04/6/2009 (66,085) 2.40 04/7/2009 (12,800) 2.41 04/8/2009 (72,600) 2.37