UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 8)*
LOEWS CORPORATION
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
540424-10-8
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(CUSIP Number)
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Barry Bloom
667 Madison Avenue
New York, New York 10021
212 545-2930
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 4, 2000
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(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 Rule 13d-1(e), 13d-1(f) or 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 Rule 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 (the "Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 11 Pages
SCHEDULE 13D
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CUSIP NO. 540424-10-8 PAGE 2 OF 11 PAGES
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(entities only)
Laurence A. Tisch
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [_]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
10,308,998
NUMBER OF -----------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 2,000,000
EACH -----------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 10,308,998
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,000,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,308,998
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5%
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14 TYPE OF REPORTING PERSON (See Instructions)
IN
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SCHEDULE 13D
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CUSIP NO. 540424-10-8 PAGE 3 OF 11 PAGES
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Andrew H. Tisch
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
NUMBER OF 1,252,000
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 20,000
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 1,252,000
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
20,000
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,272,000
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
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14. TYPE OF REPORTING PERSON (See Instructions)
IN
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SCHEDULE 13D
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CUSIP NO. 540424-10-8 PAGE 4 OF 11 PAGES
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Daniel R. Tisch
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
NUMBER OF 1,250,880
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 1,250,880
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,250,880
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
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14. TYPE OF REPORTING PERSON (See Instructions)
IN
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SCHEDULE 13D
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CUSIP NO. 540424-10-8 PAGE 5 OF 11 PAGES
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
James S. Tisch
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
NUMBER OF 1,330,000
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 58,000
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 1,330,000
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
58,000
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,388,000
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
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14. TYPE OF REPORTING PERSON (See Instructions)
IN
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SCHEDULE 13D
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CUSIP NO. 540424-10-8 PAGE 6 OF 11 PAGES
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1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Thomas J. Tisch
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
NUMBER OF 1,250,000
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 50,000
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 1,250,000
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
50,000
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,300,000
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
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14. TYPE OF REPORTING PERSON (See Instructions)
IN
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The statement on Schedule 13D previously filed by Laurence A. Tisch is
hereby amended and restated to read as set forth herein.
ITEM 1. SECURITY AND ISSUER.
The title of the class of equity securities to which this statement
relates is the Common Stock, $1.00 par value per share (the "Common Stock"), of
Loews Corporation, a Delaware corporation (the "Issuer"), whose principal
executive offices are located at 667 Madison Avenue, New York, New York 10021.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is filed jointly by Laurence A. Tisch, Andrew H. Tisch,
Daniel R. Tisch, James S. Tisch and Thomas J. Tisch (the "Reporting Persons"),
each of whom is a United States citizen.
The business address of Laurence A. Tisch is 667 Madison Avenue, New
York, N.Y. 10021. His present principal occupation is Co-Chairman of the Board
of the Issuer.
The business address of Andrew H. Tisch is 667 Madison Avenue, New
York, N.Y. 10021. His present principal occupation is Chairman of the Executive
Committee and member of the Office of the President of the Issuer.
The business address of Daniel R. Tisch is c/o Mentor Partners, L.P.,
500 Park Avenue, New York, N.Y. 10022. His present principal occupation is
General Partner, Mentor Partners, L.P. (a partnership engaged in investment
activities), 500 Park Avenue, New York, N.Y. 10022.
The business address of James S. Tisch is 667 Madison Avenue, New York,
N.Y. 10021. His present principal occupation is President and Chief Executive
Officer and member of the Office of the President of the Issuer.
The business address of Thomas J. Tisch is 667 Madison Avenue, New
York, N.Y. 10021. His present principal occupation is Managing Partner of FLF
Associates and Manager of Four Partners and 4-14 Partners (entities engaged in
investment activities), 667 Madison Avenue, New York, N.Y. 10021.
During the five years preceding the filing of this statement, none of
the Reporting Persons was convicted in a criminal proceeding (excluding traffic
violations and similar misdemeanors) or was a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction as a result of which
he was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, United States
federal or state securities laws or finding any violation with respect to such
laws.
Page 7 of 11 Pages
Because of family relationships among the Reporting Persons, they are
filing jointly solely for informational purposes. The filing of this statement
is not an admission by any Reporting Person that such Reporting Person and any
other Reporting Person or Reporting Persons constitute a "group" for purposes of
Section 13(d)(3) of the Securities Exchange Act of 1934 or Rule 13d-5 thereunder
or for any other purpose, and each Reporting Person disclaims beneficial
ownership of any shares of Common Stock owned by any other Reporting Person.
Preston R. Tisch, the brother of Laurence A. Tisch, is Co-Chairman of
the Board of the Issuer and beneficially owns 17,308,998 shares of Common Stock
of the Issuer. Laurence A. Tisch and Preston R. Tisch together may be deemed to
be "controlling" persons of the Issuer as defined in Rule 12b-2 under the
Securities Exchange Act of 1934.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source of the funds used by the Reporting Persons to acquire the
Common Stock beneficially owned by them was personal funds of the Reporting
Persons.
ITEM 4. PURPOSE OF TRANSACTION.
The shares of Common Stock of the Issuer to which this Schedule relates
were acquired for investment purposes.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The aggregate number and percentage of the outstanding Common Stock
(based upon a total of 98,614,000 shares reported as outstanding by the Issuer
as of July 31, 2000) beneficially owned by each of the Reporting Persons as of
August 4, 2000 were as follows:
Laurence A. Tisch 12,308,998 12.5%
Andrew H. Tisch 1,272,000 1.3
Daniel R. Tisch 1,250,880 1.3
James S. Tisch 1,388,000 1.4
Thomas J. Tisch 1,300,000 1.3
Laurence A. Tisch has sole voting power and sole investment power with
respect to 10,308,998 shares of Common Stock. The remaining 2,000,000 shares
beneficially owned by him are owned by Wilma S. Tisch, his wife, and accordingly
he may be deemed to share voting power and investment power with respect to such
shares.
Andrew H. Tisch has sole voting power and sole investment power as to
2,000 shares of Common Stock held by him directly and 1,250,000 shares held by
Andrew H. Tisch 1991 Trust, for which he is the managing trustee. In addition,
he has shared voting power and
Page 8 of 11 Pages
shared investment power with respect to 20,000 shares held by a charitable
foundation of which he is a director.
Daniel R. Tisch has sole voting power and sole investment power as to
500 shares of Common Stock held by him directly, 1,250,000 shares held by Daniel
R. Tisch 1991 Trust, for which he is the managing trustee, and 380 shares owned
by him as custodian for a son of Andrew H. Tisch.
James S. Tisch has sole voting power and sole investment power as to
80,000 shares of Common Stock held by him directly and 1,250,000 shares of
Common Stock held by James S. Tisch 1991 Trust, for which he is the managing
trustee. In addition, he has shared voting power and shared investment power
with respect to 58,000 shares held by a charitable foundation of which he is a
director.
Thomas J. Tisch has sole voting power and sole investment power as to
1,250,000 shares of Common Stock held by Thomas J. Tisch 1991 Trust, for which
he is the managing trustee. In addition, he has shared voting power and shared
investment power with respect to 30,000 shares held by a charitable foundation
of which he is a director, and he may be deemed to have shared voting power and
shared investment power with respect to 20,000 shares owned by Alice M. Tisch,
his wife, as custodian for their children.
On August 4, 2000, Andrew H. Tisch, Daniel R. Tisch, James S. Tisch and
Thomas J. Tisch, each acting through the respective 1991 Trusts referred to
above, purchased 250,000 shares of Common Stock from Laurence A. Tisch in
private transactions at $65.0625 per share.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Daniel R. Tisch, Thomas J. Tisch, Andrew H. Tisch and James S. Tisch
are brothers and are sons of Laurence A. Tisch.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1. Agreement regarding the joint filing of this statement.
Page 9 of 11 Pages
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.
August 15, 2000 /s/ Laurence A. Tisch
----------------------------------
Laurence A. Tisch
/s/ Andrew H. Tisch
----------------------------------
Andrew H. Tisch
/s/ Daniel R. Tisch
----------------------------------
Daniel R. Tisch
/s/ James S. Tisch
----------------------------------
James S. Tisch
/s/ Thomas J. Tisch
----------------------------------
Thomas J. Tisch
Page 10 of 11 Pages
AGREEMENT
In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act
of 1934, the undersigned hereby agree that this Amendment No. 8 to Schedule 13D,
dated August 15, 2000, relating to the Common Stock of Loews Corporation is
being filed with the Securities and Exchange Commission on behalf of each of
them.
August 15, 2000
/s/ Laurence A. Tisch
----------------------------------
Laurence A. Tisch
/s/ Andrew H. Tisch
----------------------------------
Andrew H. Tisch
/s/ Daniel R. Tisch
----------------------------------
Daniel R. Tisch
/s/ James S. Tisch
----------------------------------
James S. Tisch
/s/ Thomas J. Tisch
----------------------------------
Thomas J. Tisch