UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 1)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
Griffon Corporation
-------------------
(Name of Issuer)
Common Stock, par value $0.25 per share
---------------------------------------
(Title of Class of Securities)
398433102
---------
(CUSIP Number)
Mr. James A. Mitarotonda
c/o Barington Companies Equity Partners, L.P.
888 Seventh Avenue, 17th Floor
New York, NY 10019
(212) 974-5700
--------------
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
March 15, 2007
--------------
(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: |_|.
(Continued on following pages)
(Page 1 of 21 Pages)
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 2 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Barington Companies Equity Partners, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 13-4088890
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
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 Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER 436,384
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 436,384
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 436,384
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 1.46%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 3 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Barington Companies Investors, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 13-4126527
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
--------------------------------------------------------------------------------
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 436,384
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 436,384
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 436,384
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 1.46%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 4 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Barington Investments, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 20-2871525
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
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 Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER 313,204
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 313,204
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 313,204
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 1.05%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 5 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Barington Companies Advisors, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 20-0327470
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
--------------------------------------------------------------------------------
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 313,204
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 313,204
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 313,204
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 1.05%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 6 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Benchmark Opportunitas Fund plc
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
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 Ireland
--------------------------------------------------------------------------------
7 SOLE VOTING POWER 70,238
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 70,238
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 70,238
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 0.24%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 7 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Barington Offshore Advisors, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 20-4797640
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
--------------------------------------------------------------------------------
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 70,238
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 70,238
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 70,238
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 0.24%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IA, OO
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 8 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Barington Companies Offshore Fund, Ltd.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
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 British Virgin Islands
--------------------------------------------------------------------------------
7 SOLE VOTING POWER 744,258
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 744,258
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 744,258
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 2.49%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 9 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Barington Offshore Advisors II, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 20-8325785
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
--------------------------------------------------------------------------------
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 744,258
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 744,258
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 744,258
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 2.49%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IA, OO
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 10 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Barington Capital Group, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 13-3635132
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
7 SOLE VOTING POWER 1,564,084
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 1,564,084
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 1,564,084
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 5.24%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 11 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: LNA Capital Corp.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 13-3635168
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
--------------------------------------------------------------------------------
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 1,564,084
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 1,564,084
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 1,564,084
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 5.24%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 398433102 Page 12 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: James A. Mitarotonda
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
--------------------------------------------------------------------------------
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 1,564,084
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER none
BENEFICIALLY ----------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER 1,564,084
REPORTING ----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER none
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON: 1,564,084
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11): 5.24%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
--------------------------------------------------------------------------------
Page 13 of 21 Pages
This Amendment No. 1 amends and supplements the Schedule 13D filed with
the Securities and Exchange Commission (the "SEC") on February 26, 2007 (the
"Statement") by and on behalf of Barington Companies Equity Partners, L.P. and
others with respect to the common stock, par value $0.25 per share (the "Common
Stock"), of Griffon Corporation, a Delaware corporation (the "Company"). The
principal executive offices of the Company are located at 100 Jericho
Quadrangle, Jericho, NY 11753.
Item 2. Identity and Background.
The second paragraph of Item 2(a)-(c) of the Statement is hereby amended
and restated as follows:
As of March 14, 2007, the Reporting Entities are the beneficial owners of,
in the aggregate, 1,564,084 shares of Common Stock, representing approximately
5.24% of the shares of Common Stock presently outstanding.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of the Statement is hereby amended and supplemented as follows:
Since the filing of the Statement, Barington Companies Equity Partners,
L.P., Barington Investments and Barington Companies Offshore Fund, Ltd.
purchased an aggregate of 50,000 shares of Common Stock. All purchases of Common
Stock by these Reporting Entities were made in open market transactions. All
purchases were funded by working capital, which may, at any given time, include
margin loans made by brokerage firms in the ordinary course of business. The
amount of funds expended for such purchases (excluding commissions and other
execution-related costs) was approximately $327,404.39 by Barington Companies
Equity Partners, L.P., $288,043.53 by Barington Investments, L.P. and
$558,802.09 by Barington Companies Offshore Fund, Ltd.
Item 4. Purpose of Transaction.
Item 4 of the Statement is hereby amended and supplemented as follows:
On March 15, 2007, James A. Mitarotonda, the Chairman and Chief Executive
Officer of Barington Capital Group, L.P., sent a letter to Harvey R. Blau, the
Company's Chairman and Chief Executive Officer, outlining a number of measures
that Barington believes will improve shareholder value for the benefit of all of
the Company's stockholders. Mr. Mitarotonda sent the letter to Mr. Blau in light
of the fact that Mr. Blau has not returned Mr. Mitarotonda's telephone calls
seeking to schedule a meeting to discuss such measures in person. A copy of the
letter is attached as Exhibit 99.2 hereto and incorporated herein by reference.
The foregoing description of the letter is qualified in its entirety by
reference to such exhibit.
Item 5. Interest in Securities of the Issuer.
Items 5(a) - (c) of the Statement are hereby amended and restated as
follows:
(a) As of March 14, 2007, Barington Companies Equity Partners, L.P.
beneficially owns an aggregate of 436,384 shares of Common Stock, representing
approximately 1.46% of the shares of Common Stock presently outstanding based
upon the 29,845,689 shares of Common Stock reported by the Company to be issued
and outstanding as of January 31, 2007 in its Form 10-Q filed with the
Securities and Exchange Commission on February 9, 2007 (the "Issued and
Outstanding Shares").
Page 14 of 21 Pages
As of March 14, 2007, Barington Investments, L.P. beneficially owns
313,204 shares of Common Stock, representing approximately 1.05% of the Issued
and Outstanding Shares. As of March 14, 2007, Benchmark Opportunitas Fund plc
beneficially owns 70,238 shares of Common Stock, representing approximately
0.24% of the Issued and Outstanding Shares. As of March 14, 2007, Barington
Companies Offshore Fund, Ltd. beneficially owns 744,258 shares of Common Stock,
representing approximately 2.49% of the Issued and Outstanding Shares. As the
general partner of Barington Companies Equity Partners, L.P., Barington
Companies Investors, LLC may be deemed to beneficially own the 436,384 shares of
Common Stock beneficially owned by Barington Companies Equity Partners, L.P.,
representing approximately 1.46% of the Issued and Outstanding Shares. As the
general partner of Barington Investments, L.P., Barington Companies Advisors,
LLC may be deemed to beneficially own the 313,204 shares of Common Stock
beneficially owned by Barington Investments, L.P., representing approximately
1.05% of the Issued and Outstanding Shares. As the investment advisor to
Benchmark Opportunitas Fund plc, Barington Offshore Advisors, LLC may be deemed
to beneficially own the 70,238 shares of Common Stock beneficially owned by
Benchmark Opportunitas Fund plc, representing approximately 0.24% of the Issued
and Outstanding Shares. As the investment advisor to Barington Companies
Offshore Fund, Ltd., Barington Offshore Advisors II, LLC may be deemed to
beneficially own the 744,258 shares of Common Stock beneficially owned by
Barington Companies Offshore Fund, Ltd., representing approximately 2.49% of the
Issued and Outstanding Shares. As the majority member of Barington Companies
Investors, LLC, Barington Companies Advisors, LLC, Barington Offshore Advisors,
LLC and Barington Offshore Advisors II, LLC, Barington Capital Group, L.P. may
be deemed to beneficially own the 436,384 shares of Common Stock beneficially
owned by Barington Companies Equity Partners, L.P., the 313,204 shares of Common
Stock beneficially owned by Barington Investments, L.P., the 70,238 shares of
Common Stock beneficially owned by Benchmark Opportunitas Fund plc and the
744,258 shares of Common Stock beneficially owned by Barington Companies
Offshore Fund, Ltd., constituting an aggregate of 1,564,084 shares, representing
approximately 5.24% of the Issued and Outstanding Shares. As the general partner
of Barington Capital Group, L.P., LNA Capital Corp. may be deemed to
beneficially own the 436,384 shares of Common Stock beneficially owned by
Barington Companies Equity Partners, L.P., the 313,204 shares of Common Stock
beneficially owned by Barington Investments, L.P., the 70,238 shares of Common
Stock beneficially owned by Benchmark Opportunitas Fund plc and the 744,258
shares of Common Stock beneficially owned by Barington Companies Offshore Fund,
Ltd., constituting an aggregate of 1,564,084 shares of Common Stock,
representing approximately 5.24% of the Issued and Outstanding Shares. As the
sole stockholder and director of LNA Capital Corp., James A. Mitarotonda may be
deemed to beneficially own the 436,384 shares of Common Stock beneficially owned
by Barington Companies Equity Partners, L.P., the 313,204 shares of Common Stock
beneficially owned by Barington Investments, L.P., the 70,238 shares of Common
Stock beneficially owned by Benchmark Opportunitas Fund plc and the 744,258
shares of Common Stock beneficially owned by Barington Companies Offshore Fund,
Ltd., constituting an aggregate of 1,564,084 shares of Common Stock,
representing approximately 5.24% of the Issued and Outstanding Shares. Mr.
Mitarotonda has sole voting and dispositive power with respect to the 436,384
shares of Common Stock beneficially owned by Barington Companies Equity
Partners, L.P., the 313,204 shares of Common Stock beneficially owned by
Barington Investments, L.P., the 70,238 shares of Common Stock beneficially
owned by Benchmark Opportunitas Fund plc and the 744,258 shares of Common Stock
beneficially owned by Barington Companies Offshore Fund, Ltd. Mr. Mitarotonda
disclaims beneficial ownership of any such shares except to the extent of his
pecuniary interest therein.
Page 15 of 21 Pages
The Reporting Entities do not believe that certain of the foregoing
information is called for by the Items of Schedule 13D and are disclosing it for
supplemental informational purposes only.
(b) Each of the Reporting Entities may be deemed to have sole voting and
dispositive power over the shares of Common Stock reported as beneficially owned
by such person by virtue of their respective positions as described in paragraph
(a).
Each of the other Reporting Entities may be deemed to have sole voting and
dispositive power with respect to the shares each reports as beneficially owned
by such person, regardless of the fact that multiple Reporting Entities within
the same chain of ownership report sole voting and dispositive power with
respect to such shares. Each such Reporting Entity reports sole voting and
dispositive power with respect to such shares based on such person's
relationship to the other Reporting Entities within the same chain of ownership.
Except to the extent expressly stated herein, each Reporting Entity disclaims
beneficial ownership of any shares of Common Stock beneficially owned by any
other Reporting Entity.
(c) Information concerning all transactions in shares of Common Stock
effected by the Reporting Persons since the filing of the Statement are
described in the Schedule attached hereto and incorporated herein by reference.
Item 7. Material to be Filed as Exhibits.
Item 7 of the Statement is hereby amended and supplemented as follows:
Exhibit
No. Exhibit Description Page
--------------------------------------------------------------------------------
99.2 Letter dated March 15, 2007 from James A. Mitarotonda, the 19 to 21
Chairman and Chief Executive Officer of Barington Capital
Group, L.P., to Harvey R. Blau, the Chairman and Chief
Executive Officer of the Company.
--------------------------------------------------------------------------------
Page 16 of 21 Pages
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Dated: March 15, 2007
BARINGTON COMPANIES EQUITY PARTNERS, L.P.
By: Barington Companies Investors, LLC,
its general partner
By: /s/ James A. Mitarotonda
----------------------------------
Name: James A. Mitarotonda
Title: Managing Member
BARINGTON COMPANIES INVESTORS, LLC
By: /s/ James A. Mitarotonda
----------------------------------
Name: James A. Mitarotonda
Title: Managing Member
BARINGTON INVESTMENTS, L.P.
By: Barington Companies Advisors, LLC,
its general partner
By: /s/ James A. Mitarotonda
----------------------------------
Name: James A. Mitarotonda
Title: Managing Member
BARINGTON COMPANIES ADVISORS, LLC
By: /s/ James A. Mitarotonda
----------------------------------
Name: James A. Mitarotonda
Title: Managing Member
BENCHMARK OPPORTUNITAS FUND PLC
By: Barington Offshore Advisors, LLC
By: /s/ James A. Mitarotonda
----------------------------------
Name: James A. Mitarotonda
Title: Managing Member
Page 17 of 21 Pages
BARINGTON OFFSHORE ADVISORS, LLC
By: /s/ James A. Mitarotonda
----------------------------------
Name: James A. Mitarotonda
Title: Managing Member
BARINGTON COMPANIES OFFSHORE FUND, LTD.
By: /s/ James A. Mitarotonda
----------------------------------
Name: James A. Mitarotonda
Title: President
BARINGTON OFFSHORE ADVISORS II, LLC
By: /s/ James A. Mitarotonda
----------------------------------
Name: James A. Mitarotonda
Title: Managing Member
BARINGTON CAPITAL GROUP, L.P.
By: LNA Capital Corp.,
its general partner
By: /s/ James A. Mitarotonda
----------------------------------
Name: James A. Mitarotonda
Title: President and CEO
LNA CAPITAL CORP.
By: /s/ James A. Mitarotonda
----------------------------------
Name: James A. Mitarotonda
Title: President and CEO
/s/ James A. Mitarotonda
-----------------------------------------
James A. Mitarotonda
Page 18 of 21 Pages
SCHEDULE
This schedule sets forth information with respect to each purchase of
Common Stock which was effectuated by a Reporting Entity since the filing of the
Statement. All transactions were effectuated in the open market through a
broker.
Shares purchased by Barington Companies Equity Partners, L.P.
Number of
Date Shares Price Per Share Cost(*)
--------- --------- --------------- -----------
2/26/2007 13,941 $23.485 $327,404.39
Shares purchased by Barington Investments, L.P.
Number of
Date Shares Price Per Share Cost(*)
--------- --------- --------------- -----------
2/26/2007 12,265 $23.485 $288,043.53
Shares purchased by Barington Companies Offshore Fund, Ltd.
Number of
Date Shares Price Per Share Cost(*)
--------- --------- --------------- -----------
2/26/2007 23,794 $23.485 $558,802.09
----------
(*) Excludes commissions and other execution-related costs.