|
OMB APPROVAL
|
|
OMB Number: 3235-0145
Expires: February 28, 2009
Estimated average burden
Hours per response . . . . 14.5
|
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)
*
MI Developments Inc.
|
(Name of Issuer)
|
Class A Subordinate Voting Shares
|
(Title of Class of Securities)
|
55304X104
|
(Cusip Number)
|
Mark C. Wehrly
Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 2100
San Francisco, California 94111
(415) 421-2132
|
(Name, Address, and Telephone Number of
Person
Authorized to Receive Notices and
Communications)
|
August
25, 2008
|
(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
o
.
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 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 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Farallon Capital Partners, L.P.
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, is a
beneficial owner only of the securities reported by it on this cover
page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
WC, OO
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) OR 2(e)
[
]
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
California
|
NUMBER OF
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
681,500
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
681,500
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
681,500
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
1.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
PN
|
|
|
|
|
Page
2 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Farallon Capital Institutional Partners,
L.P.
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, is a
beneficial owner only of the securities reported by it on this cover
page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
WC
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) OR 2(e)
[
]
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
California
|
NUMBER OF
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
563,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
563,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
563,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
1.2%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
PN
|
|
|
|
|
Page
3 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Farallon Capital Institutional Partners II,
L.P.
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, is a
beneficial owner only of the securities reported by it on this cover
page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
WC
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) OR 2(e)
[
]
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
California
|
NUMBER OF
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
41,600
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
41,600
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
41,600
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
0.1%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
PN
|
|
|
|
|
Page
4 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Farallon Capital Institutional Partners III,
L.P.
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, is a
beneficial owner only of the securities reported by it on this cover
page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
WC
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) OR 2(e)
[
]
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
NUMBER OF
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
38,800
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
38,800
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
38,800
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
0.1%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
PN
|
|
|
|
|
Page
5 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Tinicum Partners, L.P.
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, is a
beneficial owner only of the securities reported by it on this cover
page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
N/A
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) OR 2(e)
[
]
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
New York
|
NUMBER OF
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
-0-
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
-0-
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
-0-
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
0.0%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
PN
|
|
|
|
|
Page
6 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Farallon Capital Offshore Investors II,
L.P.
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, is a
beneficial owner only of the securities reported by it on this cover
page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
WC, OO
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) OR 2(e)
[
]
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
|
NUMBER OF
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
826,787
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
826,787
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
826,787
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
1.8%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
PN
|
|
|
|
|
Page
7 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Farallon Capital Management, L.L.C.
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
OO
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) OR 2(e)
[
]
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
NUMBER OF
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
1,787,313
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
1,787,313
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,787,313
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
3.9%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IA, OO
|
|
|
|
|
Page
8 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Farallon Partners, L.L.C.
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) OR 2(e)
[
]
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
NUMBER OF
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
2,152,087
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
2,152,087
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,152,087
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
4.7%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
OO
|
|
|
|
|
Page
9 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
William F. Duhamel
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
10 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Richard B. Fried
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
11 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Monica R. Landry
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
12 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Douglas M. MacMahon
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
13 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
William F. Mellin
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
14 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Stephen L. Millham
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
15 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Jason E. Moment
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
16 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Ashish H. Pant
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) OR 2(e)
[
]
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
India
|
NUMBER OF
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
17 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Rajiv A. Patel
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
18 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Derek C. Schrier [See Item 2]
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
-0-
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
-0-
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
-0-
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
0.0%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
19 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Andrew J. M. Spokes
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEMS 2(d) OR 2(e)
[
]
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
United Kingdom
|
NUMBER OF
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
20 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Thomas F. Steyer
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
21 of 34 Pages
13D
1
|
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY)
Mark C. Wehrly
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
[
]
(b)
[
X
]**
**
The reporting persons making this filing hold an
aggregate of 3,939,400 Class A Shares, which is 8.5% of the class of
securities. The reporting person on this cover page, however, may be
deemed a beneficial owner only of the securities reported by it on this
cover page.
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
AF, OO
|
5
|
CHECK 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
SHARES BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
-0-
|
8
|
SHARED VOTING POWER
3,939,400
|
9
|
SOLE DISPOSITIVE POWER
-0-
|
10
|
SHARED DISPOSITIVE POWER
3,939,400
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,939,400
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES (See
Instructions)
[
]
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)
8.5%
|
14
|
TYPE OF REPORTING PERSON (See
Instructions)
IN
|
|
|
|
|
Page
22 of 34 Pages
This Amendment No. 4 to Schedule 13D amends the Schedule 13D initially
filed on May 11, 2006 (together with all prior and current amendments thereto, the
“Schedule 13D”).
Item
2
.
Identity And
Background
Item 2 is amended and restated in its entirety as follows:
(a)
This statement is filed by the entities and persons listed below, all of
whom together are referred to herein as the “Reporting Persons.”
The Farallon Funds
|
(i)
|
Farallon Capital Partners, L.P., a California limited
partnership (“FCP”), with respect to the Class A Shares
held by it;
|
|
(ii)
|
Farallon Capital Institutional Partners, L.P., a
California limited partnership (“FCIP”), with respect to
the Class A Shares held by it;
|
|
(iii)
|
Farallon Capital Institutional Partners II, L.P., a
California limited partnership (“FCIP II”), with respect to
the Class A Shares held by it;
|
|
(iv)
|
Farallon Capital Institutional Partners III, L.P., a
Delaware limited partnership (“FCIP III”), with respect to
the Class A Shares held by it;
|
|
(v)
|
Tinicum Partners, L.P., a New York limited partnership
(“Tinicum”), with respect to the Class A Shares held by it;
and
|
|
(vi)
|
Farallon Capital Offshore Investors II, L.P., a Cayman
Islands exempted limited partnership (“FCOI II”), with
respect to the Class A Shares held by it.
|
FCP, FCIP, FCIP II, FCIP III, Tinicum and FCOI II are together referred
to herein as the “Farallon Funds.”
The Management Company
|
(vii)
|
Farallon Capital Management, L.L.C., a Delaware limited
liability company (the “Management Company”), with respect
to the Class A Shares held by an account managed by the Management
Company (the “Managed Account”).
|
The Farallon General Partner
|
(viii)
|
Farallon Partners, L.L.C., a Delaware limited liability
company which is the general partner of each of the Farallon Funds (the
“Farallon General Partner”), with respect to the Class A
Shares held by each of the Farallon Funds.
|
Page
23 of 34 Pages
The Farallon Managing Members
|
(ix)
|
Each of the following persons who is, or with respect to
Schrier (as defined below) was, a managing member of both the Farallon
General Partner and the Management Company, with respect to the Class A
Shares held by the Farallon Funds and the Managed Account: William F.
Duhamel (“Duhamel”), Richard B. Fried
(“Fried”), Monica R. Landry (“Landry”), Douglas
M. MacMahon (“MacMahon”), William F. Mellin
(“Mellin”), Stephen L. Millham (“Millham”),
Jason E. Moment (“Moment”), Ashish H. Pant
(“Pant”), Rajiv A. Patel (“Patel”), Derek C.
Schrier (“Schrier”), Andrew J. M. Spokes
(“Spokes”), Thomas F. Steyer (“Steyer”) and
Mark C. Wehrly (“Wehrly”).
|
Duhamel, Fried, Landry, MacMahon, Mellin, Millham, Moment, Pant, Patel,
Schrier, Spokes, Steyer and Wehrly are together referred to herein as the
“Farallon Individual Reporting Persons.”
As of May 27, 2008, Schrier had resigned as a managing member of the
Farallon General Partner and the Management Company and no longer had investment
discretion with respect to the Class A Shares beneficially owned by the Farallon Funds
and the Managed Account. As such, Schrier may no longer be deemed a beneficial owner of
the Class A Shares beneficially owned by the Farallon Funds and Managed
Account.
(b)
The address of the principal business office of (i) the Farallon Funds,
the Farallon General Partner and the Management Company is One Maritime Plaza, Suite
2100, San Francisco, California 94111 and (ii) each of the Farallon Individual
Reporting Persons is set forth in Annex 1 hereto.
(c)
The principal business of each of the Farallon Funds is that of a
private investment fund engaging in the purchase and sale of investments for its own
account. The principal business of the Farallon General Partner is to act as the
general partner of the Farallon Funds. The principal business of the Management Company
is that of a registered investment adviser. The principal business of each of the
Farallon Individual Reporting Persons is or was set forth in Annex 1 hereto.
(d)
None of the Farallon Funds, the Management Company, the Farallon General
Partner or any of the Farallon Individual Reporting Persons has, during the last five
years, been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e)
None of the Farallon Funds, the Management Company, the Farallon General
Partner or any of the Farallon Individual Reporting Persons has, during the last five
years, been party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding 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 any
violation with respect to such laws.
(f)
The citizenship of each of the Farallon Funds, the Farallon General
Partner and the Management Company is set forth above.
Page
24 of 34 Pages
The other information required by Item 2 relating to the identity and
background of the Reporting Persons is set forth in Annex 1 hereto.
Item 3
.
Source And
Amount Of Funds And Other Consideration
Item 3 is supplemented to report the following:
The net investment cost (including commissions) for the Class A Shares
acquired by each of the Farallon Funds and the Managed Account since the filing of the
prior amendment to this Schedule 13D is set forth below:
Entity
|
Class A Shares Acquired
|
Approximate Net Investment Cost
|
FCP
|
26,500
|
$680,474
|
FCIP
|
31,600
|
$815,044
|
FCIP II
|
1,500
|
$38,505
|
FCIP III
|
1,900
|
$48,697
|
FCOI II
|
28,700
|
$737,834
|
Managed Account
|
38,000
|
$976,533
|
The consideration for such acquisitions was obtained as follows: (i)
with respect to FCIP, FCIP II and FCIP III, from working capital; (ii) with respect to
FCP and FCOI II from working capital and/or from borrowings pursuant to margin accounts
maintained in the ordinary course of business by FCP and FCOI II at Goldman, Sachs
& Co.; and (iii) with respect to the Managed Account, from the working capital of
the Managed Account and/or from borrowings pursuant to margin accounts maintained in
the ordinary course of business by the Managed Account at Goldman, Sachs & Co. FCP,
FCOI II and the Managed Account hold certain securities in their respective margin
accounts at Goldman, Sachs & Co., and the accounts may from time to time have debit
balances. It is not possible to determine the amount of borrowings, if any, used to
acquire the Class A Shares.
Item 4
.
Purpose Of
The Transaction
Item 4 is amended and restated in its entirety as follows:
Letter to Board of Directors
On August
25, 2008, the Management Company
delivered a letter to the Company's Board of Directors (the "Board") urging the Board
to resume work with management and the Company's chairman Frank Stronach on a
reorganization proposal for the Company that would be capable of receiving widespread
shareholder support. In particular, the letter stated the Reporting Persons' belief in
the importance of the Company presenting to shareholders a transaction that will: offer
a realistic way to align interests by eliminating the Company’s dual-class voting
structure; implement best-in-class corporate governance arrangements; and enable the
Company to reestablish its business relationship with Magna International,
Inc.
The letter also stated the Reporting Persons' view that there is no
business justification for the Company to provide further financial support to Magna
Entertainment Corp. ("MECA"), whether by
Page
25 of 34 Pages
purchasing
MECA or its assets, extending further loans or otherwise; and stated that Farallon
would favor ceasing the Company's financial support of MECA even if it meant that MECA
would be forced to immediately file for bankruptcy.
Termination of Support Agreement
As disclosed by the Company in its Form 6-K filed with the Securities
and Exchange Commission on March 31, 2008 (the “Form 6-K”), the Company on
that date received a reorganization proposal providing for a reorganization of the
Company on the terms set forth in the Form 6-K (the "Transaction"). In connection with
the proposed Transaction, on March 31, 2008, certain of the Reporting Persons, as
holders of the Company’s Class A Shares reported herein, entered into a Support
Agreement (the “Support Agreement”) with 2167951 Ontario Inc., a new
Ontario corporation formed for the purpose of participating in the Transaction.
Pursuant to the Support Agreement, certain of the Reporting Persons agreed, among other
things, (i) to vote (or cause to be voted) all Class A Shares of the Company owned or
controlled by such persons in favor of the Transaction, and (ii) except under certain
circumstances, not to sell or otherwise transfer any of their Class A Shares. The
Support Agreement was attached as Exhibit 4 to Amendment No. 2 to this Schedule 13D,
filed with the Securities and Exchange Commission on March 31, 2008, which exhibit is
incorporated by reference herein.
By a notice dated August 25, 2008, delivered pursuant to the terms of
the Support Agreement, the Reporting Persons party thereto terminated their obligations
under the Support Agreement. A copy of the notice is attached hereto as Exhibit
5.
Investment Purpose
The purpose of the acquisition of the Class A Shares was for investment,
and the acquisitions of the Class A Shares by each of the Farallon Funds and the
Managed Account were made in the ordinary course of business and were not made for the
purpose of acquiring control of the Company.
Although no Reporting Person has any specific plan or proposal to
acquire or dispose of Class A Shares or other securities of the Company, consistent
with its investment purpose, each Reporting Person at any time and from time to time
may acquire additional Class A Shares or may acquire other securities of the Company,
or dispose of any or all of its Class A Shares or any other securities of the Company
it may have acquired, depending upon an ongoing evaluation of the investment in such
securities, prevailing market conditions, other investment opportunities, liquidity
requirements of the Reporting Person and/or other investment considerations. No
Reporting Person has made a determination regarding a maximum or minimum number of
Class A Shares or other securities of the Company which it may hold at any point in
time.
The Reporting Persons may engage in communications regarding the Company
with one or more officers of the Company, and/or one or more members of the board of
directors of the Company and/or one or more shareholders of the Company. Such
communications may concern, without limitation, the Company's operations, structure,
potential reorganization plan(s) and financial relationship with MECA, as well as any
other potential strategies to maximize shareholder value.
Page
26 of 34 Pages
Plans or Proposals
Except to the extent the foregoing may be deemed a plan or proposal,
none of the Reporting Persons has any plans or proposals which relate to, or could
result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of
the instructions to Item 4 of Schedule 13D. The Reporting Persons may, at any time and
from time to time, review or reconsider their position and/or change their purpose
and/or formulate plans or proposals with respect thereto.
Item 5
.
Interest
In Securities Of The Issuer
Item 5 is amended and restated in its entirety as follows:
|
(a),(b)
|
The information set forth in Rows 7 through 13 of the
cover page hereto for each Farallon Fund is incorporated herein by
reference for each such Farallon Fund. The percentage amount set forth
in Row 13 for all cover pages filed herewith is calculated based upon
the 46,160,564 Class A Shares outstanding as reported by the Company in
its Form 40-F for the fiscal year ended December 31, 2007 filed with
the Securities and Exchange Commission on March 28, 2008.
|
|
(c)
|
There have been no purchases or sales of Class A Shares
by the Farallon Funds in the past 60 days.
|
|
(d)
|
The Farallon General Partner has the power to direct the
receipt of dividends relating to, or the disposition of the proceeds of
the sale of, all of the Class A Shares held by the Farallon Funds as
reported herein. The Farallon Individual Reporting Persons are managing
members of the Farallon General Partner.
|
|
(e)
|
As of June 5, 2008, Tinicum ceased to be the beneficial
owner of any Class A Shares.
|
|
(b)
|
The Management Company
|
|
(a),(b)
|
The information set forth in Rows 7 through 13 of the
cover page hereto for the Management Company is incorporated herein by
reference.
|
|
(c)
|
There have been no purchases or sales of Class A Shares
by the Management Company on behalf of the Managed Account in the past
60 days.
|
|
(d)
|
The Management Company has the power to direct the
receipt of dividends relating to, or the disposition of the proceeds of
the sale of, all of the Class A Shares held by the Managed Account as
reported herein. The Farallon Individual Reporting Persons are managing
members of the Management Company.
|
Page
27 of 34 Pages
|
(c)
|
The Farallon General Partner
|
|
(a),(b)
|
The information set forth in Rows 7 through 13 of the
cover page hereto for the Farallon General Partner is incorporated
herein by reference.
|
|
(d)
|
The Farallon General Partner has the power to direct the
receipt of dividends relating to, or the disposition of the proceeds of
the sale of, all of the Class A Shares held by the Farallon Funds as
reported herein. The Farallon Individual Reporting Persons are managing
members of the Farallon General Partner.
|
|
(d)
|
The Farallon Individual Reporting
Persons
|
|
(a),(b)
|
The information set forth in Rows 7 through 13 of the
cover page hereto for each Farallon Individual Reporting Person is
incorporated herein by reference for each such Farallon Individual
Reporting Person.
|
|
(d)
|
The Farallon General Partner has the power to direct the
receipt of dividends relating to, or the disposition of the proceeds of
the sale of, all of the Class A Shares held by the Farallon Funds as
reported herein. The Management Company has the power to direct the
receipt of dividends relating to, or the disposition of the proceeds of
the sale of, all the Class A Shares held by the Managed Account as
reported herein. The Farallon Individual Reporting Persons are managing
members of both the Farallon General Partner and the Management
Company.
|
|
(e)
|
As of May 27, 2008, Schrier may no longer be deemed the
beneficial owner of any Class A Shares.
|
The Class A Shares reported hereby for the Farallon Funds are owned
directly by the Farallon Funds and those reported by the Management Company on behalf
of the Managed Account are owned directly by the Managed Account. The Management
Company, as investment adviser to the Managed Account, may be deemed to be the
beneficial owner of all such Class A Shares owned by the Managed Account. The Farallon
General Partner, as general partner to the Farallon Funds, may be deemed to be the
beneficial owner of all such Class A Shares owned by the Farallon Funds. The Farallon
Individual Reporting Persons, other than Schrier, as managing members of both the
Farallon General Partner and the Management Company with the power to exercise
investment discretion, may each be deemed to be the beneficial owner of all such Class
A Shares owned by the Farallon Funds and the Managed Account.
Each of
the Management Company, the Farallon
Page
28 of 34 Pages
General Partner and the Farallon Individual Reporting Persons hereby
disclaims any beneficial ownership of any such Class A Shares.
In addition, as a result of the termination of the Support Agreement as
described in Item 4 above, any group which the Reporting Persons may have formed with
2167951 Ontario Inc., Stronach Trust or their affiliates within the meaning of Rule
13d-5(b)(1) under the Securities Exchange Act of 1934, as amended, has ceased to exist
and as such, the Reporting Persons may no longer be deemed to beneficially own the
Class A Shares or Class B Voting Shares owned by such entities.
Item 6
.
Contracts,
Arrangements, Understandings Or Relationships With Respect To Securities Of
The Issuer
Item 6 is amended and restated in its entirety as follows:
Except as described above, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the Reporting Persons or
between such persons and any other person with respect to any securities of the
Company, including but not limited to the transfer or voting of any securities of the
Company, finder’s fees, joint ventures, loan or option arrangements, puts or
calls, guarantees of profits, divisions of profits or loss, or the giving or
withholding of proxies.
Item 7
.
Materials
To Be Filed As Exhibits
There is filed herewith as Exhibit 5 the notice of termination of the
Support Agreement.
Page
29 of 34 Pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: August 25, 2008
/s/ Monica R. Landry
FARALLON PARTNERS, L.L.C.,
On its own behalf and
as the General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
TINICUM PARTNERS, L.P. and
FARALLON CAPITAL OFFSHORE INVESTORS II, L.P.
By Monica R. Landry,
Managing Member
/s/ Monica R. Landry
FARALLON CAPITAL MANAGEMENT, L.L.C.
By Monica R. Landry,
Managing Member
/s/ Monica R. Landry
Monica R. Landry, individually and as attorney-in-fact
for each of William F. Duhamel, Richard B. Fried, Douglas M. MacMahon,
William F. Mellin, Stephen L. Millham, Jason E. Moment, Ashish H. Pant, Rajiv A. Patel,
Derek C. Schrier, Andrew J. M. Spokes, Thomas F. Steyer and Mark C. Wehrly
The Power of Attorney executed by each of Duhamel, Fried, MacMahon, Mellin, Millham,
Moment, Pant, Patel, Schrier, Steyer and Wehrly authorizing Landry to sign and file
this Schedule 13D on his behalf, which was filed with the Schedule 13D filed with the
Securities and Exchange Commission on July 2, 2007 by such Reporting Persons with
respect to the Common Stock of Armor Holdings, Inc., is hereby incorporated by
reference. The Power of Attorney executed by Spokes authorizing Landry to sign and file
this Schedule 13D on his behalf, which was filed with the Schedule 13D filed with the
Securities and Exchange Commission on August 28, 2007 by such Reporting Person with
respect to the Common Stock of Global Gold Corporation, is hereby incorporated by
reference.
Page
30 of 34 Pages
ANNEX
1
Set forth below with respect to the Management Company and the Farallon
General Partner is the following information: (a) name; (b) address; (c) principal
business; (d) state of organization; and (e) controlling persons. Set forth below with
respect to each Farallon Individual Reporting Person is the following information: (a)
name; (b) business address; (c) principal occupation; and (d) citizenship.
1.
|
The Management Company
|
|
(a)
|
Farallon Capital Management, L.L.C.
|
|
(b)
|
One Maritime Plaza, Suite 2100
|
San Francisco, California 94111
|
(c)
|
Serves as investment adviser to various managed
accounts
|
|
(d)
|
Delaware limited liability company
|
|
(e)
|
Managing Members: Thomas F. Steyer, Senior Managing
Member; William F. Duhamel, Alice F. Evarts, Richard B. Fried, Monica
R. Landry, Douglas M. MacMahon, William F. Mellin, Stephen L. Millham,
Jason E. Moment, Ashish H. Pant, Rajiv A. Patel, Andrew J. M. Spokes,
Gregory S. Swart and Mark C. Wehrly, Managing Members.
|
2.
|
The Farallon General Partner
|
|
(a)
|
Farallon Partners, L.L.C.
|
|
(b)
|
c/o Farallon Capital Management, L.L.C.
|
One Maritime Plaza, Suite 2100
San Francisco, California 94111
|
(c)
|
Serves as general partner to investment
partnerships
|
|
(d)
|
Delaware limited liability company
|
|
(e)
|
Managing Members: Thomas F. Steyer, Senior Managing
Member; William F. Duhamel, Alice F. Evarts, Richard B. Fried, Monica
R. Landry, Douglas M. MacMahon, William F. Mellin, Stephen L. Millham,
Jason E. Moment, Ashish H. Pant, Rajiv A. Patel, Andrew J. M. Spokes,
Gregory S. Swart and Mark C. Wehrly, Managing Members.
|
3.
|
Managing Members of the Management Company and the
Farallon General Partner
|
Each of the managing members of the Management Company and the Farallon
General Partner other than Gregory S. Swart, Ashish H. Pant and Andrew J. M. Spokes is
a citizen of the United States. Gregory S. Swart is a citizen of New Zealand. Ashish H.
Pant is a citizen of India. Andrew J. M. Spokes is a citizen of the United Kingdom. The
business address of each of the managing members of the Management Company and the
Farallon General Partner is c/o Farallon Capital Management, L.L.C., One Maritime
Plaza, Suite 2100, San Francisco, California 94111. The principal occupation of Thomas
F. Steyer is serving as senior managing member of both the Management Company and the
Farallon General Partner. The principal occupation of each other managing member of the
Management Company and the Farallon General Partner is or was serving as a managing
member of both
Page
31 of 34 Pages
the Management Company and the Farallon General Partner. None of the
managing members of the Management Company and the Farallon General Partner has any
additional information to disclose with respect to Items 2-6 of the Schedule 13D that
is not already disclosed in the Schedule 13D.
Page
32 of 34 Pages
EXHIBIT INDEX
EXHIBIT 5
|
Notice of Termination of Support Agreement
|
Page
33 of 34 Pages
EXHIBIT 5
to
SCHEDULE 13D
NOTICE OF TERMINATION OF SUPPORT AGREEMENT
Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 2100
San Francisco, CA 94111
August 25, 2008
Mr. Dennis J. Mills
Chief Executive Officer and Director
MI Developments Inc.
455 Magna Drive
Aurora, Ontario
Canada L4G 7K1
Dear Mr. Mills:
We refer to the Support Agreement signed on March 30,
2008 by Farallon Capital Management, L.L.C. on behalf of certain of our managed funds
(the "Support Agreement"). Pursuant to paragraph 5 of the Support Agreement, we hereby
terminate our obligations under the Support Agreement.
|
Farallon Capital Management, L.L.C.
|
|
By:
/s/ Richard B. Fried
Managing
Member
|
Page
34 of 34 Pages