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<SEC-DOCUMENT>0001033427-10-000002.txt : 20100111
<SEC-HEADER>0001033427-10-000002.hdr.sgml : 20100111
<ACCEPTANCE-DATETIME>20100111114459
ACCESSION NUMBER: 0001033427-10-000002
CONFORMED SUBMISSION TYPE: SC 13D/A
PUBLIC DOCUMENT COUNT: 2
FILED AS OF DATE: 20100111
DATE AS OF CHANGE: 20100111
GROUP MEMBERS: COLE PARTNERS LLC
GROUP MEMBERS: DAVID L. COHEN
GROUP MEMBERS: HAROLD J. LEVY
GROUP MEMBERS: IRIDIAN ASSET MANAGEMENT LLC
GROUP MEMBERS: IRIDIAN CHARTER FUND, L.P.
GROUP MEMBERS: IRIDIAN PARTNERS FUND, LP
GROUP MEMBERS: IRIDIAN PRIVATE BUSINESS VALUE EQUITY FUND, L.P.
GROUP MEMBERS: RENOMA PARTNERS LLC
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: ENZON PHARMACEUTICALS INC
CENTRAL INDEX KEY: 0000727510
STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
IRS NUMBER: 222372868
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-35587
FILM NUMBER: 10519456
BUSINESS ADDRESS:
STREET 1: 685 ROUTE 202/206
CITY: BRIDGEWATER
STATE: NJ
ZIP: 08807
BUSINESS PHONE: 908 541 8671
MAIL ADDRESS:
STREET 1: 685 ROUTE 202/206
STREET 2: ATT: GENERAL COUNSEL
CITY: BRIDGEWATER
STATE: NJ
ZIP: 08807
FORMER COMPANY:
FORMER CONFORMED NAME: ENZON PHARMACEUTICALS INC
DATE OF NAME CHANGE: 20021211
FORMER COMPANY:
FORMER CONFORMED NAME: ENZON PHARMACEUTICAL INC
DATE OF NAME CHANGE: 20021210
FORMER COMPANY:
FORMER CONFORMED NAME: ENZON INC
DATE OF NAME CHANGE: 19920703
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: IRIDIAN ASSET MANAGEMENT LLC/CT
CENTRAL INDEX KEY: 0001033427
IRS NUMBER: 061439577
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D/A
BUSINESS ADDRESS:
STREET 1: 276 POST RD WEST
CITY: WESTPORT
STATE: CT
ZIP: 06880-4704
BUSINESS PHONE: 2033417800
MAIL ADDRESS:
STREET 1: 276 POST ROAD WEST
CITY: WESTPORT
STATE: CT
ZIP: 06880-4704
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>enzonpharm13da1081909.txt
<TEXT>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Enzon Pharmaceuticals, Inc
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
293904108
- --------------------------------------------------------------------------------
(CUSIP Number)
Jeffrey M. Elliott
Executive Vice President
Iridian Asset Management LLC
276 Post Road West
Westport, CT 06880-4704
203-341-9009
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 19, 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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 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 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).
Page 1 of 13 Pages
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 2 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Iridian Asset Management LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 6,851,387
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
6,851,387
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,851,387
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 3 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
COLE Partners LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 377,870
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
377,870
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
377,870
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 4 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Iridian Private Business Value Equity Fund, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 285,860
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
285,860
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
285,860
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 5 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Iridian Partners Fund, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 92,010
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
92,010
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,010
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 6 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Renoma Partners LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 25,350
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
25,350
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,350
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 7 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Iridian Charter Fund, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 25,350
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
25,350
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,350
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
less than 0.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 8 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harold J. Levy
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PN, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 50,000
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 6,851,387
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 154,712
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
6,851,387
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,006,099
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 9 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David L. Cohen
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 6,851,387
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
6,851,387
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,851,387
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 10 of 13 Pages
Item 1. Security and Issuer
This Schedule 13D, Amendment No. 1 relates to the common stock, par value $.01
per share (the "Common Stock"), of Enzon Pharmaceuticals, Inc., a Delaware
corporation (the "Issuer").
Issuer's princpial executive offices are located at 685 Route 202/206,
Bridgewater, NJ 08807.
The information presented on the cover sheets for each filing person is based
upon ownership as of August 19, 2009. The percent of class is based upon
45,395,992 shares of Common Stock issued and outstanding as of August 3, 2009 as
reported by the Issuer on its Form 10-Q for the quarter ended June 30, 2009.
This Amendment amends Item 5 of the Schedule 13D previously filed as of July 23,
2009.
Item 5. Interest in Securities of the Issuer.
(a), (b) As of August 19, 2009, the Reporting Persons may be deemed to
beneficially own in the aggregate 6,851,387 shares of Common Stock, representing
15.1% of the outstanding Common Stock (the percentage of shares of Common Stock
owned being based upon 45,395,992 shares of Common Stock outstanding at August
3, 2009 as set forth in the Issuer's Quarterly Report on Form 10-Q for the
quarterly period ended June 30, 2009).
The Reporting Persons may be deemed to have direct beneficial ownership of
shares of Common Stock as follows:
Name Number of Shares Percentage
Iridian (1) 6,448,167 14.2%
Private Business 285,860 0.6%
Partners 92,010 0.2%
Charter 25,350 less than 0.01%
Levy (2) 154,712 0.3%
(1) The shares of Common Stock set forth above for Iridian do not include the
shares of Common Stock held by Private Business, Partners and Charter.
(2) The shares of Common Stock set forth above for Levy include 50,000 shares
owned directly, and 104,712 shares of the Common Stock which he has the right to
acquire upon conversion of 4.0% Convertible Senior Notes due 2013.
Iridian has direct beneficial ownership of the shares of Common Stock in the
accounts which it manages. In addition, Iridian is the investment adviser for
Private Business. In such capacity, Iridian has the right to vote and direct the
disposition of shares of Common Stock held by such entities and, consequently,
has beneficial ownership of such shares.
Messrs. Cohen and Levy may be deemed to possess beneficial ownership of the
shares of Common Stock beneficially owned by Iridian by virtue of their indirect
controlling ownership of Iridian, and having the power to vote and direct the
disposition of shares of Common Stock as joint Chief Investment Officers of
Iridian. Messrs. Cohen and Levy disclaim beneficial ownership of such shares.
COLE, as the sole general partner of Private Business and Partners, may be
deemed to own beneficially shares of Common Stock of which Private Business and
Partners may be deemed to possess direct beneficial ownership. Iridian, as the
sole member of COLE, may be deemed to possess beneficial ownership of the shares
of Common Stock that are beneficially owned by COLE.
Renoma, as the sole general partner of Charter, may be deemed to own
beneficially shares of Common Stock of which Charter may be deemed to possess
direct beneficial ownership. Iridian, as the sole member of Renoma, may be
deemed to possess beneficial ownership of the shares of Common Stock that are
beneficially owned by Renoma.
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 11 of 13 Pages
Iridian has the direct power to vote or direct the vote, and the direct power to
dispose or direct the disposition, of 6,851,387 shares of Common Stock. Messrs.
Cohen and Levy may be deemed to share with Iridian the power to vote or direct
the vote and to dispose or direct the disposition of such shares. Messrs. Cohen
and Levy disclaim beneficial ownership of such shares.
Iridian has the direct power to vote or direct the vote, and the direct power to
dispose or direct the disposition, of the 285,860 shares of Common Stock held by
Private Business and of the 92,010 shares of Common Stock held by Partners. COLE
(in addition to Messrs. Cohen and Levy) may be deemed to share with Iridian the
power to vote or direct the vote and to dispose or direct the disposition of
such shares.
Iridian has the direct power to vote or direct the vote, and the direct power to
dispose or direct the disposition, of the 25,350 shares of Common Stock held by
Charter. Renoma (in addition to Messrs. Cohen and Levy) may be deemed to share
with Iridian the power to vote or direct the vote and to dispose or direct the
disposition of such shares.
Levy has the direct power to vote or direct the vote, and the direct power to
dispose or direct the disposition, of the 50,000 shares of Common Stock held by
him. Levy has the direct power to dispose or direct the disposition, of 104,712
shares of the Common Stock which he has the right to acquire upon conversion of
4.0% Convertible Senior Notes due 2013.
(c) Other than the transactions described in Schedule I of this statement, no
Reporting Person nor any director or executive officer of any Reporting Person
has effected any transactions in the Common Stock during the past 60 days.
(d) No person other than the Reporting Persons has any right to receive or the
power to direct the receipt of dividends from, or the proceeds of the sale of,
any of the Common Stock beneficially owned by the Reporting Persons, except that
the dividends from, or proceeds from the sale of, shares of Common Stock in each
respective account managed by Iridian will be delivered into each such
respective account.
(e) Not applicable.
Item 7. Material to be Filed as Exhibits.
Limited Power of Attorney dated October 7, 2009 granted by David L. Cohen to
Jeffrey M. Elliott and Lane S. Bucklan
Limited Power of Attorney dated October 7, 2009 granted by Harold J. Levy to
Jeffrey M. Elliott and Lane S. Bucklan
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 12 of 13 Pages
SIGNATURE.
After reasonable inquiry and to the best of its or his knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Date: January 11, 2010
IRIDIAN ASSET MANAGEMENT LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
COLE PARTNERS LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
IRIDIAN PRIVATE BUSINESS VALUE EQUITY FUND, L.P.
By: COLE PARTNERS LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
IRIDIAN PARTNERS FUND, L.P.
By: COLE PARTNERS LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
RENOMA PARTNERS LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
IRIDIAN CHARTER FUND, LP
By: RENOMA PARTNERS LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Agent
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Agent
<PAGE>
CUSIP No. 293904108 Schedule 13D Page 13 of 13 Pages
SCHEDULE I
REPORTING PERSONS TRANSACTIONS IN COMMON STOCK
Trade Date Side Number of Shares Price per Share (1)
- ------------------------------------------------------------------------------
7/28/2009 sell 160 $8.23
7/28/2009 sell 160 $8.20
7/28/2009 sell 110 $8.18
7/29/2009 sell 460 $8.32
7/31/2009 sell 7,270 $8.39
7/31/2009 sell 6,530 $8.42
7/31/2009 sell 6,600 $8.42
7/31/2009 sell 4,470 $8.42
8/7/2009 sell 350 $8.07
8/11/2009 sell 9,060 $7.85
8/19/2009 (2) 1,280,290 (2)
(1) Price per share does not include commission.
(2) Shares over which Iridian no longer has benefical ownership.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>powerattorneycohenlevy.txt
<TEXT>
LIMITED POWER OF ATTORNEY
David L. Cohen (acting individually and on behalf of those entities for which he
exercises control, collectively referred to herein as "Grantor"), having his and
their principal place of business at c/o Iridian Asset Management LLC, 276 Post
Road West, Westport, CT 06880, is an owner of Iridian Asset Management LLC (the
"Adviser"), an investment adviser registered with the United States Securities
and Exchange Commission (the "SEC").
Grantor appoints each of Jeffrey M. Elliott, Executive Vice President and Chief
Operating Officer, and Lane S. Bucklan, General Counsel (each, the "Agent") of
the Adviser as his true and lawful attorney-in-fact for the following specific
and limited purposes only:
To exercise or perform any act, power, duty, right or obligation whatsoever that
Grantor now has, or may subsequently acquire the legal right, power or capacity
to exercise or perform, in connection with, arising from or relating to
Adviser's obligation to make filings with the SEC under Sections 13 and 16 of
the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder, including, but not limited to, the authority to prepare,
sign, and file all such forms, schedules, or other documents which may be
necessary to complete such filings.
Grantor gives and grants each Agent individually full power and authority to do
and perform all and every act and thing whatsoever necessary to be done in and
about the specific and limited premises set forth herein as fully, to all
intents and purposes, as might or could be done if personally present, with full
power of substitution and revocation, hereby ratifying and confirming all that
said Agent shall lawfully do or cause to be done by virtue hereof.
Dated: October 7, 2009
By: /s/ David L. Cohen
----------------------------------
David L. Cohen
Appointment accepted by:
/s/ Jeffrey M. Elliott
- -------------------------------------
Jeffrey M. Elliott
Executive Vice President and Chief Operating Officer
/s/ Lane S. Bucklan
- ----------------------------
Lane S. Bucklan
General Counsel
<PAGE>
LIMITED POWER OF ATTORNEY
Harold J. Levy (acting individually and on behalf of those entities for which he
exercises control, collectively referred to herein as "Grantor"), having his and
their principal place of business at c/o Iridian Asset Management LLC, 276 Post
Road West, Westport, CT 06880, is an owner of Iridian Asset Management LLC (the
"Adviser"), an investment adviser registered with the United States Securities
and Exchange Commission (the "SEC").
Grantor appoints each of Jeffrey M. Elliott, Executive Vice President and Chief
Operating Officer, and Lane S. Bucklan, General Counsel (each, the "Agent") of
the Adviser as his true and lawful attorney-in-fact for the following specific
and limited purposes only:
To exercise or perform any act, power, duty, right or obligation whatsoever that
Grantor now has, or may subsequently acquire the legal right, power or capacity
to exercise or perform, in connection with, arising from or relating to
Adviser's obligation to make filings with the SEC under Sections 13 and 16 of
the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder, including, but not limited to, the authority to prepare,
sign, and file all such forms, schedules, or other documents which may be
necessary to complete such filings.
Grantor gives and grants each Agent individually full power and authority to do
and perform all and every act and thing whatsoever necessary to be done in and
about the specific and limited premises set forth herein as fully, to all
intents and purposes, as might or could be done if personally present, with full
power of substitution and revocation, hereby ratifying and confirming all that
said Agent shall lawfully do or cause to be done by virtue hereof.
Dated: October 7, 2009
By: /s/ Harold J. Levy
----------------------------------
Harold J. Levy
Appointment accepted by:
/s/ Jeffrey M. Elliott
- -------------------------------------
Jeffrey M. Elliott
Executive Vice President and Chief Operating Officer
/s/ Lane S. Bucklan
- ----------------------------
Lane S. Bucklan
General Counsel
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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