-----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, SqxkAeURSkDlwWmmp5V3HRAqDT2aA5DddUEM/dO+27W3M+f7i3iN9Ir/45+stNbs DQDuuTNcnGlhBa5hdDK3mA== /in/edgar/work/20000724/0000909518-00-000457/0000909518-00-000457.txt : 20000921 0000909518-00-000457.hdr.sgml : 20000921 ACCESSION NUMBER: 0000909518-00-000457 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000724 GROUP MEMBERS: INTERNATIONAL SPECIALTY PRODUCTS INC. GROUP MEMBERS: ISP INVESTMENTS INC. GROUP MEMBERS: ISP OPCO HOLDINGS INC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HERCULES INC CENTRAL INDEX KEY: 0000046989 STANDARD INDUSTRIAL CLASSIFICATION: [2890 ] IRS NUMBER: 510023450 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-15992 FILM NUMBER: 677337 BUSINESS ADDRESS: STREET 1: 1313 N MARKET ST STREET 2: HERCULES PLZ CITY: WILMINGTON STATE: DE ZIP: 19894 BUSINESS PHONE: 3025945000 MAIL ADDRESS: STREET 1: HERCULES PLAZA STREET 2: RM 8151 NW CITY: WILMINGTON STATE: DE ZIP: 19894-0001 FORMER COMPANY: FORMER CONFORMED NAME: HERCULES POWDER CO DATE OF NAME CHANGE: 19680321 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ISP OPCO HOLDINGS INC CENTRAL INDEX KEY: 0001067851 STANDARD INDUSTRIAL CLASSIFICATION: [ ] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: C/O ISP MANAGEMENT CO INC STREET 2: 1361 ALPS RD CITY: WAYNE STATE: NJ ZIP: 07470 BUSINESS PHONE: 9736283000 MAIL ADDRESS: STREET 1: C/O ISP MANAGEMENT CO INC STREET 2: 1361 ALPS RD CITY: WAYNE STATE: NJ ZIP: 07470 SC 13D 1 0001.txt ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. __) ------------------------------ HERCULES INCORPORATED (Name of Issuer) COMMON STOCK, $25/48 STATED VALUE PER SHARE 427056106 (Title of class of securities) (CUSIP number) RICHARD A. WEINBERG, ESQ. C/O ISP MANAGEMENT COMPANY, INC. 1361 ALPS ROAD WAYNE, NEW JERSEY 07470 (973) 628-4000 (Name, address and telephone number of person authorized to receive notices and communications) WITH A COPY TO: STEPHEN E. JACOBS, ESQ. WEIL, GOTSHAL & MANGES LLP 767 FIFTH AVENUE NEW YORK, NEW YORK 10153-0119 (212) 310-8000 JULY 14, 2000 (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-(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 ss. 240.13d-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 purposes of Section 18 of the Securities Exchange Act of 1934 (the "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 12 Pages) ================================================================================ NY2:\947310\01\K@Y601!.DOC\99980.0025
- ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 427056106 13D Page 2 of 12 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON ISP OPCO HOLDINGS INC. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] (b) [X] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 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: 10,719,200 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 10,719,200 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 10,719,200 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.99% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ---------------------- ------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 427056106 13D Page 3 of 12 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON ISP INVESTMENTS INC. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] (b) [X] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC, OO - ---------------------- ------------------------------------------------------------------------------------------------------- 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: 10,719,200 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 10,719,200 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 10,719,200 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.99% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ---------------------- ------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 427056106 13D Page 4 of 12 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON INTERNATIONAL SPECIALTY PRODUCTS INC. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] (b) [X] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 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: 10,719,200 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 10,719,200 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 10,719,200 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.99% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ---------------------- -------------------------------------------------------------------------------------------------------
ITEM 1. SECURITY AND ISSUER This statement of beneficial ownership on Schedule 13D ("Schedule 13D") relates to the common stock, stated value $25/48 per share ("Common Stock"), of Hercules Incorporated (the "Company"). The address of the principal executive office of the Company is Hercules Plaza, 1313 North Market Street, Wilmington, Delaware 19894-0001. ITEM 2. IDENTITY AND BACKGROUND The persons filing this Schedule 13D are ISP Opco Holdings Inc., a Delaware corporation ("ISP Opco"), ISP Investments Inc., a Delaware corporation ("ISP Investments"), and International Specialty Products Inc., a Delaware corporation ("ISP"). ISP Opco, ISP Investments and ISP have their principal place of business at 300 Delaware Avenue, Wilmington, Delaware 19801. ISP Opco, ISP Investments and ISP are sometimes hereinafter referred to as the "Reporting Persons." ISP Opco is a wholly-owned subsidiary of ISP. ISP Investments is an indirect, wholly-owned subsidiary of ISP Opco. Samuel J. Heyman beneficially owns (as defined in Rule 13d-3 of the Act) approximately 76% of the capital stock of ISP and is the Chairman of the Board of ISP. The business of ISP consists primarily of owning 100% of the outstanding common stock of ISP Opco. The business of ISP Investments consists of holding investments for ISP Opco. ISP Opco, through its wholly-owned subsidiaries, develops, manufactures, sells and distributes specialty chemicals and mineral products. The name, position, business address and citizenship of each director and executive officer of ISP Opco are set forth on Schedule A hereto. The name, position, business address and citizenship of each director and executive officer of ISP Investments are set forth on Schedule B hereto. The name, position, business address and citizenship of each director and executive officer of ISP are set forth on Schedule C hereto. None of the Reporting Persons nor any of the persons listed on Schedules A through C hereto has, during the last five years, (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding a violation with respect to such laws. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION The aggregate amount of funds used by the Reporting Persons to purchase the 10,719,200 shares of Common Stock (the "Shares") beneficially owned (or deemed, solely for purposes of Rule 13d-3, to be beneficially owned) by them, directly or indirectly, was approximately $153,185,679, including commissions. 5 The funds used to purchase such Shares were obtained by ISP Investments from working capital of ISP Investments, loans from affiliates and borrowings pursuant to standard margin arrangements. ITEM 4. PURPOSE OF TRANSACTION The Reporting Persons acquired the Shares to obtain an equity position in the Company, the Common Stock of which, in the opinion of the Reporting Persons, has been undervalued. Subject to, among other things, availability at prices deemed favorable by the Reporting Persons, the Reporting Persons may purchase additional shares of Common Stock from time to time in the open market or otherwise. The Reporting Persons also may attempt to dispose of Shares in the open market, in privately negotiated transactions or otherwise. The Reporting Persons consider their equity position to be for investment purposes only. Although the possibility of a business combination with the Company has been raised and may be considered in the future, the Reporting Persons have made no determination to seek control of the Company. Except as set forth above, the Reporting Persons have no present plans or intentions which would result in or relate to any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER As of the close of business on July 21, 2000, the Reporting Persons beneficially owned (or are deemed, solely for purposes of Rule 13d-3, to beneficially own), directly or indirectly, an aggregate of 10,719,200 Shares, representing approximately 9.99% of the Common Stock outstanding on July 21, 2000 (based on 107,198,197 shares of Common Stock believed by the Reporting Persons to be outstanding as of April 30, 2000). ISP Investments has direct beneficial ownership of all of such Shares. ISP Investments has the sole power to vote, direct the voting of, dispose of and direct the disposition of the Shares. ISP Opco, by virtue of its ownership of all of the outstanding capital stock of ISP Investments, may be deemed to own beneficially (solely for purposes of Rule 13d-3) the Shares. ISP, by virtue of its ownership of all of the outstanding common stock of ISP Opco, may be deemed to own beneficially (solely for purposes of Rule 13d-3) the Shares. Mr. Heyman, by virtue of his beneficial ownership (as defined in Rule 13d-3) of approximately 76% of the capital stock of ISP, may be deemed to own beneficially (solely for purposes of Rule 13d-3) the Shares. In the past 60 days, ISP Investments effected transactions in Shares in open market transactions as set forth in Schedule D hereto. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER None. 6 ITEM 7. MATERIAL TO BE FILED AS EXHIBITS None. [The remainder of this page intentionally left blank.] 7 SIGNATURES After reasonable inquiry and to the best of their knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct. Dated: July 24, 2000 ISP OPCO HOLDINGS INC. ISP INVESTMENTS INC. INTERNATIONAL SPECIALTY PRODUCTS INC. By: /s/ Susan B. Yoss ----------------------------------- Susan B. Yoss Senior Vice President and Treasurer 8 SCHEDULE A The name and position of the directors and executive officers of ISP Opco Holdings Inc. are set forth below. The business address of each director and executive officer is c/o ISP Management Company, Inc., 1361 Alps Road, Wayne, New Jersey 07470, except as indicated below. All executive officers and directors are citizens of the United States. Name Position - ---- -------- Sunil Kumar President and Chief Executive Officer Randall R. Lay Executive Vice President and Chief Financial Officer Richard A. Weinberg Director, Executive Vice President, General Counsel and Secretary Andrew G. Mueller Executive Vice President - Operations Barry A. Crozier Director and Vice President Arthur W. Clark Director and Manager - Banking and Cash Operations Mr. Crozier is a certified public accountant with Belfint, Lyons & Shuman, an accounting firm, the address of which is 200 West 9th Street, Suite 600, Wilmington, Delaware 19801. 9 SCHEDULE B The name and position of the directors and executive officers of ISP Investments Inc. are set forth below. The business address of each director and executive officer is c/o ISP Management Company, Inc., 1361 Alps Road, Wayne, New Jersey 07470, except as indicated below. All executive officers and directors are citizens of the United States. Name Position - ---- -------- Sunil Kumar President and Chief Executive Officer Randall R. Lay Executive Vice President and Chief Financial Officer Richard A. Weinberg Director, Executive Vice President, General Counsel and Secretary Barry A. Crozier Vice President and Director Arthur W. Clark Director and Manager - Banking and Cash Operations Mr. Crozier is a certified public accountant with Belfint, Lyons & Shuman, an accounting firm, the address of which is 200 West 9th Street, Suite 600, Wilmington, Delaware 19801. 10 SCHEDULE C The name and position of the directors and executive officers of International Specialty Products Inc. are set forth below. The business address of each director and executive officer is c/o ISP Management Company, Inc., 1361 Alps Road, Wayne, New Jersey 07470, except as indicated below. All executive officers and directors are citizens of the United States. Name Position - ---- -------- Samuel J. Heyman Director and Chairman Sunil Kumar Director, President and Chief Executive Officer Randall R. Lay Executive Vice President and Chief Financial Officer Richard A. Weinberg Executive Vice President, General Counsel and Secretary Andrew G. Mueller Executive Vice President - Operations Susan B. Yoss Senior Vice President and Treasurer Ronald E. Brandt Senior Vice President, Sales and Commercial Director--Americas Carl R. Eckardt Director Harrison J. Goldin Director Charles M. Diker Director Sanford Kaplan Director Burt Manning Director Mr. Eckardt is a former executive officer of International Specialty Products Inc. and currently serves as a consultant. Mr. Goldin is the senior managing director of Goldin Associates, L.L.C., a consulting firm, the address of which is 767 Fifth Avenue, New York, New York 10153. Mr. Diker is a non-managing principal of Weiss, Peck & Greer, an investment management firm, the address of which is 1 New York Plaza, New York, New York 10004. Mr. Kaplan is a private investor and consultant. Mr. Manning is Chairman Emeritus of J. Walter Thompson Company, a multinational advertising company, and President of Brookbound Incorporated, a strategic consultancy company, the address of which is 105 East 67th Street, New York, New York 10021. 11 SCHEDULE D The following schedule sets forth information with respect to each purchase of Shares which was effectuated by the Reporting Persons during the past 60 days. All transactions were effectuated in the open market through a broker. ISP Investments Inc. (directly and through ISP Investments Grantor Trust) ------------------------------------------------------------------------- Number of Date Shares Purchased (Sold) Price per Share* - ---- ----------------------- ---------------- 6/5/00 14,100 $16.8125 6/6/00 41,200 16.7811 6/7/00 35,000 16.7975 6/8/00 14,400 16.6875 6/9/00 16,000 16.3086 6/19/00 70,000 16.3086 6/20/00 50,000 15.6339 6/22/00 2,500 14.9375 6/23/00 25,000 15.1250 7/10/00 35,000 13.6250 7/11/00 35,000 13.6786 7/12/00 11,800 13.5000 7/14/00 5,355,000 12.8729 7/17/00 40,000 12.5963 7/20/00 3,000 12.2083 7/21/00 4,000 11.8906 *Excluding commissions 12 -----END PRIVACY-ENHANCED MESSAGE-----