UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
(AMENDMENT NO. 1)
(Rule 13d-101)
Under the Securities Exchange Act of 1934
SMURFIT-STONE CONTAINER CORPORATION
(Name of Issuer)
common stock, $.01 par value per share
(Title of Class of Securities)
832727101
(CUSIP NUMBER)
Jeffrey Tannenbaum
505 Fifth Avenue, 23rd Floor
New York, New York 10017
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
- with copies to -
Eleazer N. Klein, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, NY 10022
(212) 756-2000
February 16, 2010
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the following box
[ ]
The information required in 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, as amended (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.
Page 1 of 8
---------------------------------
CUSIP No. 832727101 13D/A
----------------------------------
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Fir Tree Value Master Fund, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)/ /
(b)/x/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
/ /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
----------------------------------------
OWNED BY
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 11,495,385
----------------------------------------
9 SOLE DISPOSITIVE POWER
0
----------------------------------------
10 SHARED DISPOSITIVE POWER
11,495,385
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
11,495,385
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES (1)
/x/
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
4.48%
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14 TYPE OF REPORTING PERSON*
PN
-------------------------------------------------------------------------------
(1) This filing does not reflect any shares of Common Stock (as defined
herein) that may be deemed to be beneficially owned by the Reporting Persons (as
defined herein) as a result of membership in a "group" within the meaning of
Section 13(d) of the Securities Exchange Act of 1934, as amended, as discussed
in Item 4, and the Reporting Persons expressly disclaim such membership.
Page 2 of 8
|
---------------------------------
CUSIP No. 832727101 13D/A
----------------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Fir Tree Capital Opportunity Master Fund, L.P.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)/ /
(b)/x/
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
/ /
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
----------------------------------------
OWNED BY
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 2,304,615
----------------------------------------
9 SOLE DISPOSITIVE POWER
0
----------------------------------------
10 SHARED DISPOSITIVE POWER
2,304,615
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
2,304,615
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES (2)
/x/
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.89%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
-------------------------------------------------------------------------------
(2) This filing does not reflect any shares of Common Stock that may be
deemed to be beneficially owned by the Reporting Persons as a result of
membership in a "group" within the meaning of Section 13(d) of the Securities
Exchange Act of 1934, as amended, as discussed in Item 4, and the Reporting
Persons expressly disclaim such membership.
Page 3 of 8
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---------------------------------
CUSIP No. 832727101 13D/A
----------------------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Fir Tree, Inc.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)/ /
(b)/x/
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
/ /
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
-------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
----------------------------------------
OWNED BY
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 13,800,000
----------------------------------------
9 SOLE DISPOSITIVE POWER
0
----------------------------------------
10 SHARED DISPOSITIVE POWER
13,800,000
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
13,800,000
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES (3)
/x/
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
5.3%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------------------------------------------------------------------------------
(3) This filing does not reflect any shares of Common Stock that may be
deemed to be beneficially owned by the Reporting Persons as a result of
membership in a "group" within the meaning of Section 13(d) of the Securities
Exchange Act of 1934, as amended, as discussed in Item 4, and the Reporting
Persons expressly disclaim such membership.
Page 4 of 8
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SCHEDULE 13D
This Amendment No. 1 (this "Amendment") amends the statement on Schedule
13D filed on February 1, 2010 (the "Original Schedule 13D", and the Original
Schedule 13D as amended, the "Schedule 13D") with respect to shares of common
stock par value $0.01 per share (the "Common Stock") of Smurfit-Stone Container
Corporation, a Delaware corporation (the "Issuer"). Capitalized terms used
herein and not otherwise defined in this Amendment have the meanings set forth
in the Original Schedule 13D. This Amendment amends Items 4 and 5 as set forth
below.
ITEM 4. PURPOSE OF THE TRANSACTION
Item 4 of the Schedule 13D is hereby amended and supplemented by the
addition of the following:
Based on information and belief and a Schedule 13D exit filing made by
Venor Capital Management LP, the current Other Holders are entities managed by
P. Schoenfeld Asset Management LP. The Reporting Persons expressly disclaim
membership in a group with the Other Holders or any other person.
If the Reporting Persons were found to be members of a group with the
Other Holders, then, based on information and belief, the aggregate number of
shares of Common Stock beneficially owned by such group would be 22,795,000 or
approximately 8.8% of the Issuer's Common Stock.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 (a), (b), (c) and the last paragraph of Item 5 are hereby amended and
restated as follows:
(a) Fir Tree Value and Fir Tree Capital Opportunity beneficially
own 11,495,385 and 2,304,615, respectively, shares of Common Stock of the
Issuer, which represents approximately 4.48% and .89%, respectively, of the
Issuer's outstanding shares of Common Stock. Fir Tree, Inc., as the investment
manager of each of Fir Tree Value and Fir Tree Capital Opportunity, may be
deemed to beneficially own the 13,800,000 shares of Common Stock held
collectively by Fir Tree Value and Fir Tree Capital Opportunity, which
represents approximately 5.3% of the Issuer's outstanding shares of Common
Stock. Such percentages were calculated by dividing the number of shares of
Common Stock beneficially owned by each of the Reporting Persons by 256,658,958,
the number of shares of Common Stock issued and outstanding as of November 4,
2009, as reported in the Issuer's Form 10-Q filed with the Securities Exchange
Commission on November 9, 2009. The filing of this statement on Schedule 13D
shall not be construed as an admission that Fir Tree, Inc., Fir Tree Value or
Fir Tree Capital Opportunity are members of a "group" within the meaning of
Section 13(d) of the Securities Exchange Act of 1934, as amended, and the
Reporting Persons expressly disclaim membership in any such group.
Page 5 of 8
(b) Fir Tree Value may direct the vote and disposition of
11,495,385 shares of Common Stock. Fir Tree Capital Opportunity may direct the
vote and disposition of 2,304,615 shares of Common Stock. Fir Tree, Inc. has
been granted investment discretion over the shares of Common Stock held by Fir
Tree Value and Fir Tree Capital Opportunity, and thus, has the shared power to
direct the vote and disposition of 13,800,000 shares of Common Stock.
The filing of this statement on Schedule 13D shall not be
construed as an admission that Fir Tree, Inc., Fir Tree Value or Fir Tree
Capital Opportunity is for the purposes of Section 13(d) or 13(g) of the
Securities Exchange Act of 1934, as amended, the beneficial owner of any of the
13,800,000 shares of Common Stock held by Fir Tree Value and Fir Tree Capital
Opportunity. Pursuant to Rule 13d-4, Fir Tree, Inc., Fir Tree Value and Fir Tree
Capital Opportunity disclaim all such beneficial ownership
(c) The transactions in the Issuer's securities by the Reporting
Persons in the last sixty days are listed as Schedule A attached hereto and made
a part hereof.
As indicated in Item 4, the Reporting Persons may be deemed members of
a "group" within the meaning of Section 13(d) of the Securities Exchange Act of
1934, as amended, with the Other Holders. The Reporting Persons expressly
disclaim membership in a group with the Other Holders or any other person. Based
on information and belief and a Schedule 13D exit filing made by Venor Capital
Management LP, the current Other Holders are entities managed by P. Schoenfeld
Asset Management LP and the aggregate number of shares of Common Stock of the
Issuer beneficially owned by all of such persons, including the Reporting
Persons, would be 22,795,000 shares, or 8.8% of the shares outstanding.
Page 6 of 8
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: February 18, 2010
FIR TREE VALUE MASTER FUND, LP
By: FIR TREE, INC., its Manager
By: /s/ Jeffrey Tannenbaum
----------------------
Name: Jeffrey Tannenbaum
Title: President
|
FIR TREE CAPITAL OPPORTUNITY MASTER
FUND, L.P.
By: FIR TREE, INC., its Manager
By: /s/ Jeffrey Tannenbaum
----------------------
Name: Jeffrey Tannenbaum
Title: President
|
FIR TREE, INC.
By: /s/ Jeffrey Tannenbaum
----------------------
Name: Jeffrey Tannenbaum
Title: President
|
Page 7 of 8
SCHEDULE A
TRANSACTIONS IN THE COMMON STOCK BY FIR TREE VALUE MASTER FUND, L.P.
DURING THE PAST 60 DAYS
Unless otherwise indicated, all trades were effected in the open market through
brokers.
Number of Shares
Date Purchased/(Sold) Price Per Share*
---- ----------------- ----------------
2/05/10 55,400 0.16370
2/08/10 785,000 0.17000
2/12/10 806,000 0.15480
2/16/10 1,440,205 0.16010
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* Excludes commissions.
TRANSACTIONS IN THE COMMON STOCK BY FIR TREE CAPITAL OPPORTUNITY MASTER FUND,
L.P. DURING THE PAST 60 DAYS
Unless otherwise indicated, all trades were effected in the open market through
brokers.
Number of Shares
Date Purchased/(Sold) Price Per Share*
---- ----------------- ----------------
2/05/10 10,540 0.16370
2/08/10 149,060 0.17000
2/12/10 194,000 0.15480
2/16/10 359,795 0.16010
|
*Excludes commissions.
Page 8 of 8
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