UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
AutoNation, Inc.
------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
------------------------------------------------------------------------------
(Title of Class of Securities)
05329W102
------------------------------------------------------------------------------
(CUSIP Number)
John G. Finley
Simpson Thacher & Bartlett LLP
425 Lexington Avenue
New York, New York 10017
(212) 455-2000
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 6, 2006
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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 ss.ss.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
ss.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).
Page 1 of 19 Pages
Exhibit Index: Page 17
CUSIP No. 05329W102 PAGE 2 of 19
________________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ESL Partners, L.P., a Delaware limited partnership
IRS IDENTIFICATION NO.: 22-2875193
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b) _
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
N/A
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
50,593,284
____________________________________________________________
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH ____________________________________________________________
REPORTING PERSON
WITH
9 SOLE DISPOSITIVE POWER
50,593,284
____________________________________________________________
10 SHARED DISPOSITIVE POWER
0
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,321,800
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.4%
________________________________________________________________________________
14
TYPE OF REPORTING PERSON
PN
________________________________________________________________________________
CUSIP No. 05329W102 PAGE 3 of 19
________________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ESL Institutional Partners, L.P., a Delaware limited partnership
IRS IDENTIFICATION NO.: 06-1456821
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b) _
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
N/A
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
342,305
____________________________________________________________
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH ____________________________________________________________
REPORTING PERSON
WITH
9 SOLE DISPOSITIVE POWER
342,305
____________________________________________________________
10 SHARED DISPOSITIVE POWER
0
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,321,800
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.4%
________________________________________________________________________________
14
TYPE OF REPORTING PERSON
PN
________________________________________________________________________________
CUSIP No. 05329W102 PAGE 4 of 19
________________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ESL Investors, L.L.C., a Delaware limited liability company
IRS IDENTIFICATION NO.: 13-4095958
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b) _
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
N/A
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
17,025,197
____________________________________________________________
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH ____________________________________________________________
REPORTING PERSON
WITH
9 SOLE DISPOSITIVE POWER
17,025,197
____________________________________________________________
10 SHARED DISPOSITIVE POWER
0
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,321,800
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.4%
________________________________________________________________________________
14
TYPE OF REPORTING PERSON
OO
________________________________________________________________________________
CUSIP No. 05329W102 PAGE 5 of 19
________________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ESL Investments, Inc., a Delaware corporation
IRS IDENTIFICATION NO.:
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b) _
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
N/A
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
182,235
____________________________________________________________
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH ____________________________________________________________
REPORTING PERSON
WITH
9 SOLE DISPOSITIVE POWER
182,235
____________________________________________________________
10 SHARED DISPOSITIVE POWER
0
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,321,800
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.4%
________________________________________________________________________________
14
TYPE OF REPORTING PERSON
CO
________________________________________________________________________________
CUSIP No. 05329W102 PAGE 6 of 19
________________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CBL Partners, L.P., a Delaware limited partnership
IRS IDENTIFICATION NO.: 06-1526810
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b) _
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
N/A
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
8,819,389
____________________________________________________________
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH ____________________________________________________________
REPORTING PERSON
WITH
9 SOLE DISPOSITIVE POWER
8,819,389
____________________________________________________________
10 SHARED DISPOSITIVE POWER
0
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,321,800
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.9%
________________________________________________________________________________
14
TYPE OF REPORTING PERSON
PN
________________________________________________________________________________
CUSIP No. 05329W102 PAGE 7 of 19
________________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tynan, LLC, a Delaware limited liability company
IRS IDENTIFICATION NO.:
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b) _
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
N/A
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
3,717
____________________________________________________________
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH ____________________________________________________________
REPORTING PERSON
WITH
9 SOLE DISPOSITIVE POWER
3,717
____________________________________________________________
10 SHARED DISPOSITIVE POWER
0
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,321,800
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.4%
________________________________________________________________________________
14
TYPE OF REPORTING PERSON
OO
________________________________________________________________________________
CUSIP No. 05329W102 PAGE 8 of 19
________________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ESL Investment Management, LLC, a Delaware limited liability company
IRS IDENTIFICATION NO.:
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b) _
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
N/A
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
95,673
____________________________________________________________
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH ____________________________________________________________
REPORTING PERSON
WITH
9 SOLE DISPOSITIVE POWER
95,673
____________________________________________________________
10 SHARED DISPOSITIVE POWER
0
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,321,800
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.4%
________________________________________________________________________________
14
TYPE OF REPORTING PERSON
OO
________________________________________________________________________________
CUSIP No. 05329W102 PAGE 9 of 19
________________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edward S. Lampert
IRS IDENTIFICATION NO.:
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b) _
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
N/A
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________________
7 SOLE VOTING POWER
77,188,083
____________________________________________________________
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH ____________________________________________________________
REPORTING PERSON
WITH
9 SOLE DISPOSITIVE POWER
77,188,083
____________________________________________________________
10 SHARED DISPOSITIVE POWER
0
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,321,800
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.4%
________________________________________________________________________________
14
TYPE OF REPORTING PERSON
IN
________________________________________________________________________________
CUSIP No. 05329W102 PAGE 10 of 19
________________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William C. Crowley
IRS IDENTIFICATION NO.:
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b) _
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
N/A
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________________
7 SOLE VOTING POWER
133,717
____________________________________________________________
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH ____________________________________________________________
REPORTING PERSON
WITH
9 SOLE DISPOSITIVE POWER
133,717
____________________________________________________________
10 SHARED DISPOSITIVE POWER
0
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,321,800
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.4%
________________________________________________________________________________
14
TYPE OF REPORTING PERSON
IN
________________________________________________________________________________
PAGE 11 of 19
This Amendment No. 8 to Schedule 13D (this "Amendment") amends and
supplements certain Items of the Schedule 13D, as amended, filed by ESL
Partners, L.P., a Delaware limited partnership ("ESL"), ESL Institutional
Partners, L.P., a Delaware limited partnership ("Institutional"), ESL
Investors, L.L.C., a Delaware limited liability company ("Investors"), ESL
Investments, Inc. ("Investments"), CBL Partners, L.P., a Delaware limited
partnership ("CBL"), Tynan, LLC ("Tynan"), ESL Investment Management, LLC, a
Delaware limited liability company ("ESLIM"), Edward S. Lampert and William C.
Crowley, both United States citizens, by furnishing the information set forth
below. ESL, Institutional, Investors, Investments, CBL, Tynan, ESLIM, Mr.
Lampert and Mr. Crowley are collectively defined in this Amendment as the
"Filing Persons." Unless set forth below, all previous Items are unchanged.
Capitalized terms used herein which are not defined herein have the meanings
given to them in the Schedule 13D, as amended, previously filed with the
Securities and Exchange Commission.
Item 2. Identity and Background
Item 2 is hereby amended and restated in its entirety to read as follows:
(a) This Schedule 13D is being filed by a group consisting of the Filing
Persons. Attached as Schedule I hereto and incorporated herein by reference is
a list containing the (a) name, (b) citizenship, (c) present principal
occupation or employment and (d) the name, principal business address of any
corporation or other organization in which such employment is conducted, of
each director and executive officer of Investments (the "ESL Investments
Directors and Officers"). Other than the ESL Investments Directors and
Officers, there are no persons or corporations controlling or ultimately in
control of Investments.
(b) The principal place of business of each of the Filing Persons is
200 Greenwich Avenue, Greenwich, CT 06830.
(c) This Statement is filed on behalf of ESL, Institutional,
Investors, Investments, CBL, Tynan, ESLIM, Mr. Lampert and Mr. Crowley. The
general partner of ESL is RBS Partners, L.P., a Delaware limited partnership
("RBS"). RBS is the managing member of Investors. RBS Investment Management,
LLC, a Delaware limited liability company ("RBSIM"), is the general partner of
Institutional. Investments is the general partner of RBS and CBL and the
managing member of RBSIM. Mr. Lampert is the Chairman, Chief Executive Officer
and Director of Investments and the managing member of ESLIM. Mr. Crowley is
the President and Chief Operating Officer of Investments and the sole member
of Tynan. Mr. Lampert and Mr. Crowley were appointed to the Board of Directors
of the Issuer on January 29, 2002. In the aforementioned capacities, ESL,
Institutional, Investors, Investments, CBL, Tynan, ESLIM, Mr. Lampert and Mr.
Crowley each may be deemed to be the beneficial owner of the Shares reported
herein.
The principal business of ESL, Institutional, Investors, CBL, Tynan
and ESLIM is purchasing, holding and selling securities for investment
purposes. The principal business of RBS is serving as the general partner of
ESL and the managing member of Investors. The principal business of
RBSIM is serving as the general partner of Institutional. The principal
business of Investments is serving as the general partner of RBS and CBL and
the managing member of RBSIM. Mr. Lampert's principal business is serving as
the Chairman, Chief Executive Officer and director of Investments and the
managing member of ESLIM. Mr. Crowley's principal business is serving as the
President and Chief Operating Officer of Investments and the sole member of
Tynan.
(d)-(e) During the past five years, none of the foregoing entities or
natural persons has been convicted in a criminal proceeding or been a party to
a civil proceeding, in either cast of the type specified in Items 2(d) or (e)
of Schedule 13D.
(f) ESL, Institutional, Investors, Investments, CBL, Tynan and ESLIM
are organized in Delaware, and Mr. Lampert and Mr. Crowley are citizens of the
United States.
Item 4. Purpose of Transaction
Item 4 is hereby supplemented as follows:
PAGE 12 of 19
On March 7, 2006, the Issuer announced a recapitalization
transaction, which includes a cash tender offer (the "Equity Tender Offer") to
purchase up to 50,000,000 Shares of the Issuer's Common Stock. The Filing
Persons, collectively, have the right to tender 77,061,800 Shares into the
Equity Tender Offer. (This number does not include 130,000 Shares beneficially
owned by Mr. Lampert pursuant to director stock options and 130,000 Shares
beneficially owned by Mr. Crowley pursuant to director stock options.) The
Filing Persons have agreed to tender all 77,061,800 of such Shares into the
Equity Tender Offer, subject to certain conditions as set forth in a letter
agreement, dated March 6, 2006, from Investments to the Issuer (the "Tender
Offer Letter Agreement"), a copy of which is attached hereto as Exhibit 2 and
which is incorporated herein by reference.
Item 5. Interest in Securities of the Issuer
Item 5 is hereby amended and restated in its entirety to read as follows:
(a)-(b) The Filing Persons may be deemed to beneficially own an
aggregate of 77,321,800 Shares (which represents approximately 29.4% of the
262,522,388 Shares outstanding on February 24, 2006, as disclosed in the
Issuer's Annual Report on Form 10-K for the year ended December 31, 2005).
NUMBER OF PERCENTAGE
SHARES OF SOLE SHARED SOLE SHARED
REPORTING BENEFICIALLY OUTSTANDING VOTING VOTING DISPOSITIVE DISPOSITIVE
PERSON OWNED SHARES POWER POWER POWER POWER
ESL Partners,
L.P. 77,321,800 (1) 29.4% 50,593,284 0 50,593,284 0
ESL
Institutional
Partners L.P. 77,321,800 (1) 29.4% 342,305 0 342,305 0
ESL Investors,
L.L.C. 77,321,800 (1) 29.4% 17,025,197 0 17,025,197 0
ESL Investments,
Inc. 77,321,800 (1) 29.4% 182,235 0 182,235 0
CBL Partners,
L.P. 77,321,800 (1) 29.4% 8,819,389 0 8,819,389 0
Tynan, LLC 77,321,800 (1) 29.4% 3,717 0 3,717 0
ESL Investment
Management, LLC 77,321,800 (1) 29.4% 95,673 0 95,673 0
Edward S.
Lampert 77,321,800 (1) 29.4% 77,188,083 (2) 0 77,188,083 (2) 0
William C.
Crowley 77,321,800 (1) 29.4% 133,717 (3) 0 133,717 (3) 0
(1) This number consists of: 50,593,284 Shares held for the account of ESL,
342,305 Shares held for the account of Institutional, 17,025,197 Shares held
for the account of Investors, 182,235 Shares held for the account of
Investments, 8,819,389 Shares held for the account of CBL, 3,717 Shares held
for the account of Tynan, 95,673 Shares held for the account of ESLIM, 130,000
Shares issuable upon the exercise of director stock options held for the
account of Mr. Lampert and 130,000 Shares issuable upon the exercise of
director stock options held for the account of Mr. Crowley.
(2) This number consists of: 50,593,284 Shares held for the account of ESL,
342,305 Shares held for the account of Institutional, 17,025,197 Shares held
for the account of Investors, 182,235 Shares held for the account of
Investments, 8,819,389 Shares held for the account of CBL, 95,673 Shares held
for the account of ESLIM and 130,000 Shares issuable upon the exercise of
director stock options held for the account of Mr. Lampert.
PAGE 13 of 19
(3) This number consists of: 3,717 Shares held for the account of Tynan and
130,000 Shares issuable upon the exercise of director stock options held for
the account of Mr. Crowley.
(c) Except as set forth herein, there have been no transactions in
Shares by any of the Filing Persons during the past 60 days.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Item 6 is hereby supplemented as follows:
Item 4 of this Schedule 13D is incorporated herein by reference.
As stated in Item 4 hereof, on March 6, 2006 Investments agreed to
tender 77,061,800 Shares into the Equity Tender Offer, subject to certain
conditions set forth in the Tender Offer Letter Agreement.
The summary of the Tender Offer Letter Agreement contained herein is
qualified in its entirety by reference to the Tender Offer Letter Agreement,
which is attached hereto as Exhibit 2 and which is incorporated herein by
reference.
Item 7. Material to Be Filed as Exhibits
Exhibit 2 Tender Offer Letter Agreement, dated March 6, 2006, from ESL
Investments, Inc. to AutoNation, Inc.
PAGE 14 OF 19
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: March 7, 2006
ESL PARTNERS, L.P.
By: RBS Partners, L.P., as its general
partner
By: ESL Investments, Inc., as its
general partner
By: /s/ Theodore W. Ullyot
-----------------------------------
Name: Theodore W. Ullyot
Title: EVP & General Counsel
ESL INSTITUTIONAL PARTNERS, L.P.
By: RBS Investment Management, L.L.C.,
as its general partner
By: ESL Investments, Inc., as its
manager
By: /s/ Theodore W. Ullyot
-----------------------------------
Name: Theodore W. Ullyot
Title: EVP & General Counsel
ESL INVESTORS, L.L.C.
By: RBS Partners, L.P., as its managing
member
By: ESL Investments, Inc., as its
general partner
By: /s/ Theodore W. Ullyot
-----------------------------------
Name: Theodore W. Ullyot
Title: EVP & General Counsel
ESL INVESTMENTS, INC.
By: /s/ Theodore W. Ullyot
-----------------------------------
Name: Theodore W. Ullyot
Title: EVP & General Counsel
PAGE 15 OF 19
CBL PARTNERS, L.P.
By: ESL Investments, Inc., as its
general partner
By: /s/ Theodore W. Ullyot
-----------------------------------
Name: Theodore W. Ullyot
Title: EVP & General Counsel
TYNAN, LLC
By: /s/ William C. Crowley
-----------------------------------
Name: William C. Crowley
Title: Member
ESL INVESTMENT MANAGEMENT, L.L.C.
By: /s/ Theodore W. Ullyot
-----------------------------------
Name: Theodore W. Ullyot
Title: EVP & General Counsel
EDWARD S. LAMPERT
/s/ Edward S. Lampert
----------------------------------------
Edward S. Lampert
WILLIAM C. CROWLEY
/s/ William C. Crowley
----------------------------------------
William C. Crowley
PAGE 16 OF 19
SCHEDULE I
The names, business addresses, present principal occupations, and
citizenship of the directors and executive officers of ESL Investments, Inc.
are set forth below. If no address is given, the director's or executive
officer's principal business address is 200 Greenwich Avenue, Greenwich, CT
06830. Unless otherwise indicated, each occupation set forth opposite an
individual's name refers to ESL Investments, Inc.
Name and Business Address Principal Occupation Citizenship
Robert Jackowitz Treasurer United States
Theodore W. Ullyot Executive Vice President and United States
General Counsel
William C. Crowley President and Chief United States
Operating Officer
Edward S. Lampert Director, Chairman and Chief United States
Executive Officer
PAGE 17 OF 19
EXHIBIT INDEX
Exhibit 2 Tender Offer Letter Agreement, dated March 6, 2006, from ESL
Investments, Inc. to AutoNation, Inc.
PAGE 18 OF 19
EXHIBIT 2
TENDER OFFER LETTER AGREEMENT
March 6, 2006
Mr. Mike Jackson
Chairman and Chief Executive Officer
AutoNation, Inc.
AutoNation Tower
110 S.E. 6th Street
Fort Lauderdale, Florida 33301
Re: Proposed Equity Tender Offer
Dear Mike:
I am writing to you in reference to the proposed cash tender offer
(the "Equity Tender Offer") by AutoNation, Inc. (the "Company") to purchase up
to 50,000,000 shares of the Company's common stock (the "Common Stock"),
substantially upon the terms of the draft Offer to Purchase received from the
Company and the related draft Letter of Transmittal received from the Company.
As described by the Company, the Equity Tender Offer is one part of a
recapitalization transaction (the "Transactions") that includes (i) a
concurrent tender offer and consent solicitation by the Company for any and
all of its 9% senior notes due 2008, (ii) an amendment or an amendment and
restatement of the Company's $600 million, unsecured, revolving credit
facility to, among other things, provide for a new $300 million term loan
facility, which can be increased to $400 million at the Company's option and
(iii) an offering of senior unsecured notes with an aggregate principal amount
of approximately $900 million.
ESL Investments, Inc., together with its affiliated entities and
funds ("ESL"), collectively, beneficially own and have the right to tender
into the Equity Tender Offer 77,061,800 shares (the "Shares") of Common Stock.
In connection with the Company's decision to implement the Transactions, the
Company has requested that ESL state its intentions with respect to the Shares
and agree to tender the Shares into the Equity Tender Offer. Pursuant to that
request by the Company, and for good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, ESL agrees to tender all of
the Shares (without a minimum purchase condition) into the Equity Tender Offer
pursuant to and in accordance with the terms of the Equity Tender Offer no
later than the tenth business day following the commencement of the Equity
Tender Offer, and not withdraw (once tendered) any of the Shares from the
Equity Tender Offer. Notwithstanding the foregoing, ESL's obligation to tender
(and not withdraw) the Shares is conditioned upon (i) the price to be paid per
share of Common Stock in the Equity Tender Offer being not less than $23.00;
(ii) the final expiration of the Equity Tender Offer and the acceptance for
payment of the Common Stock tendered therein being no later than April 28,
2006; and (iii) no person commencing a bona fide tender or exchange offer for
5% or more of the Common Stock (other than the Company in connection with the
Equity Tender Offer), no merger, acquisition, business combination or other
similar transaction with or involving the Company being publicly disclosed and
the Company not entering into a definitive agreement or an agreement in
principle with any person with respect to a merger, business combination or
other similar transaction. In making its decision to tender the Shares, ESL
understands that neither the Company nor its Board of Directors will be making
any recommendation to ESL regarding whether ESL should tender or refrain from
tendering its Shares.
ESL hereby consents to the Company's disclosure of ESL's agreement to
tender (and not withdraw) the Shares in any press releases announcing the
Transactions (so long as ESL is provided the opportunity to review and approve
such reference in any such release in advance), the various tender offer and
other disclosure documents relating to the Transactions (so long as ESL is
provided the opportunity to review and approve such reference in any such
documents in advance), and in other public disclosures from the Company made
in reference to the Transactions.
PAGE 19 OF 19
We look forward to the successful completion of the Transactions,
including the Equity Tender Offer.
Very truly yours,
ESL Investments, Inc.
/s/ Theodore W. Ullyot
Name: Theodore W. Ullyot
Title: EVP and General Counsel