-----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, KPcik2Hr0g067D1rMOLggvd2aVcFEQBktcozlbaM9PLcbQrzEliIM/Q2XVR7R7lB ttWJA8gMHcNWPoKQCHDQSQ== 0000950172-96-000696.txt : 19961031 0000950172-96-000696.hdr.sgml : 19961031 ACCESSION NUMBER: 0000950172-96-000696 CONFORMED SUBMISSION TYPE: SC 14D9/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19961030 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MCNEIL REAL ESTATE FUND XXVII LP CENTRAL INDEX KEY: 0000810481 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE DEALERS (FOR THEIR OWN ACCOUNT) [6532] IRS NUMBER: 330214387 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D9/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-41314 FILM NUMBER: 96650099 BUSINESS ADDRESS: STREET 1: 13760 NOEL ROAD STREET 2: SUITE 700 LB70 CITY: DALLAS STATE: TX ZIP: 75240 BUSINESS PHONE: 2144485800 MAIL ADDRESS: STREET 2: 13760 NOEL ROAD SUITE 700 LB 70 CITY: DALLAS STATE: TX ZIP: 75240 FORMER COMPANY: FORMER CONFORMED NAME: SOUTHMARK PRIME PLUS L P DATE OF NAME CHANGE: 19920413 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MCNEIL PARTNERS LP CENTRAL INDEX KEY: 0000898847 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D9/A BUSINESS ADDRESS: STREET 1: 13760 NOEL ROAD STREET 2: SUITE 700 CITY: DALLAS STATE: TX ZIP: 75240 BUSINESS PHONE: 2144485800 MAIL ADDRESS: STREET 1: 13760 NOEL ROAD STREET 2: SUITE 700 CITY: DALLAS STATE: TX ZIP: 75240 SC 14D9/A 1 SCHEDULE 14D9 - AMENDMENT NO. 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14D-9 SOLICITATION/RECOMMENDATION STATEMENT PURSUANT TO SECTION 14(D)(4) OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1) MCNEIL REAL ESTATE FUND IX, LTD. MCNEIL REAL ESTATE FUND XX, L.P. MCNEIL REAL ESTATE FUND X, LTD. MCNEIL REAL ESTATE FUND XXIV, L.P. MCNEIL REAL ESTATE FUND XI, LTD. MCNEIL REAL ESTATE FUND XXV, L.P. MCNEIL REAL ESTATE FUND XIV, LTD. MCNEIL REAL ESTATE FUND XXVI, L.P. MCNEIL REAL ESTATE FUND XV, LTD. MCNEIL REAL ESTATE FUND XXVII, L.P. (NAME OF SUBJECT COMPANY) MCNEIL PARTNERS, L.P. (NAME OF PERSON FILING STATEMENT) Units of Limited Partnership Interests (TITLE OF CLASS OF SECURITIES) 582568 10 1 None 582568 20 0 582568 88 7 582568 30 9 582568 87 9 582568 88 7 None 582568 50 7 810481 (CUSIP NUMBERS OF CLASSES OF SECURITIES) Donald K. Reed MCNEIL PARTNERS, L.P. 13760 Noel Road, Suite 700, LB70 Dallas, Texas 75240 (214) 448-5800 (NAME, ADDRESS, AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF THE PERSON(S) FILING STATEMENT) Copies to: Patrick J. Foye, Esq. Scott Wallace, Esq. SKADDEN, ARPS, SLATE, MEAGHER & FLOM HAYNES AND BOONE, L.L.P. 919 Third Avenue 901 Main Street, Suite 3100 New York, New York 10022 Dallas, Texas 75202 (212) 735-2274 (214) 651-5587 This Amendment No. 1 amends and supplements the following Items of the Solicitation/Recommendation Statements on Schedule 14D-9 of the Partnerships filed with the Securities and Exchange Commission on October 4, 1996 (the "Schedules 14D-9"). Unless otherwise indicated, all capitalized terms used but not defined in this Amendment No. 1 have the meanings set forth in the Schedules 14D-9. ITEM 6. RECENT TRANSACTIONS AND INTENT WITH RESPECT TO SECURITIES Items 6 (a) is hereby supplemented by adding the following: On October 17, 1996, Mr. McNeil purchased 260,334 Units of McNeil Real Estate Fund XXVII, L.P. at $8.00 per Unit in a privately negotiated transaction. Mr. McNeil acquired 260,334 Units with his own personal funds. ITEM 8. ADDITIONAL INFORMATION TO BE FURNISHED Items 8 is hereby supplemented by adding the following: The trial of the California Federal Action was held on Thursday, October 17, 1996. Judge Stephen V. Wilson denied the McNeil Partnerships' requests for a permanent and preliminary injunction to enjoin High River's tender offers and granted High River's request for an order directing the McNeil Partnerships to turn over current lists of Unitholders to High River forthwith. The McNeil Partnerships had claimed that they were not required to provide the lists to High River because High River's tender offers were illegal, misleading and violative of the terms of various McNeil Partnerships' partnership agreements. Judge Wilson directed the parties to submit proposals within the next two weeks regarding the terms of a final order. In the interim, Judge Wilson requested High River to submit a separate order requiring the McNeil Partnerships to immediately provide High River with the Unitholder lists. On November 24, 1996, the McNeil Partnerships delivered the Unitholder lists to High River. ITEM 9. MATERIAL TO BE FILED AS EXHIBITS Items 9 is hereby supplemented by adding the following: (c)(10) Form of Press Release issued by McNeil Partners on October 17, 1996. 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: October 30, 1996 MCNEIL PARTNERS, L.P. General Partner of each of the Partnerships By: McNeil Investors, Inc. General Partner By: /s/ Donald K. Reed Donald K. Reed President EXHIBIT INDEX Exhibit Description Page (C)(10) Press Release issued by McNeil Partners on October 17, 1996. Exhibit (C)(4) McNEIL REAL ESTATE FUND XXVII, L.P. REJECTS $6.50 OFFER FROM UNAFFILIATED THIRD PARTY; REJECTED OFFER EXCEEDED ICAHN OFFER BY APPROXIMATELY 16% DALLAS, TEXAS, OCTOBER 17,1996 - McNEIL REAL ESTATE FUND XXVII, L.P. announced today that it has received an unsolicited offer to acquire all outstanding Units of the Partnership at $6.50 per Unit from an unaffiliated third party. The offer, which is not conditioned on receipt of financing or due diligence, was made by a privately held real estate company. After meeting with the offeror in Dallas and considering the $6.50 offer, the Partnership has rejected it as being inadequate. The Partnership said that this offer follows on the heels of an offer by Carl Icahn to buy all Units of the Partnership for $5.62 per Unit. On October 4, 1996, the Partnership determined that Mr. Icahn's offer was inadequate, not in the best interests of either the Partnership or Unitholders and strongly recommended that Unitholders reject the Icahn offer. At that time, the Partnership received the opinion of its financial advisor, Crosson Dannis, Inc. that Mr. Icahn's offer price is inadequate from a financial point of view to Unitholders. Crosson Dannis estimated that the present estimated liquidation value of the Partnership's Units was between $8.37 and $8.64 per Unit. The Partnership also said that the $6.50 per Unit offer confirms the Partnership's decision to reject the $5.62 Icahn tender offer. For more information, please contact: The Herman Group, Inc. (800)658-2007 -----END PRIVACY-ENHANCED MESSAGE-----