UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
ICN Pharmaceuticals, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
common stock, par value $.01 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
448924100
--------------------------------------------------------------------------------
(CUSIP Number)
Dermot Mullen
Compliance Manager
Bank of Ireland, Head Office
Lower Baggot Street
Dublin 2, Ireland
011-353-1-6615933
Jeffrey M. Elliott
Executive Vice President
Iridian Asset Management LLC
276 Post Road West
Westport, CT 06880-4704
203-341-9009
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 30, 2003
--------------------------------------------------------------------------------
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement of Schedule 13G to
report the acquisition which is the subject of the 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 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 the
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 17 Pages
CUSIP No. 448924100 Schedule 13D Page 2 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Governor and Company of the Bank of Ireland
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Ireland
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 7,919,232
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,919,232
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,919,232
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 3 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
IBI Interfunding
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Ireland
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 7,919,232
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,919,232
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,919,232
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 4 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BancIreland/First Financial, Inc.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New Hampshire
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 7,919,232
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,919,232
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,919,232
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 5 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BIAM (US) Inc.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 7,919,232
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,919,232
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,919,232
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 6 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Iridian Asset Management LLC
--------------------------------------------------------------------------------
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
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 7,919,232
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,919,232
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,919,232
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 7 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
COLE Partners LLC
--------------------------------------------------------------------------------
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
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 307,800
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
307,800
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
307,800
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 8 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Iridian Private Business Value Equity Fund, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 220,800
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
220,800
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
220,800
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 9 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Iridian Partners Fund, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 44,900
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
44,900
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
44,900
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
less than 0.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 10 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Iridian Investors, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 42,100
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
42,100
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
42,100
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
less than 0.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 11 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David L. Cohen
--------------------------------------------------------------------------------
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
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 7,919,232
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,919,232
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,919,232
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 12 of 17 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harold J. Levy
--------------------------------------------------------------------------------
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
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 7,919,232
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,919,232
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,919,232
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 448924100 Schedule 13D Page 13 of 17 Pages
This Amendment No. 3 amends and supplements the Schedule 13D filed on September
6, 2002, Schedule 13D - Amendment No. 1 filed on May 29, 2003, and Schedule 13D
- Amendment No. 2 filed on June 23, 2003, with the Securities and Exchange
Commission, and relates to the common stock, par value $.01 per share (the
"Common Stock"), of ICN Pharmaceuticals, Inc., a Delaware corporation (the
"Issuer"). Unless otherwise indicated, each capitalized term used but not
defined in this Amendment shall have the meaning assigned to them in the initial
filing.
The information presented on the cover sheets for each filing person is based
upon ownership as of September 29, 2003. The percent of class is based upon
83,079,905 shares of comon stock issued and outstanding as of August 7, 2003 as
reported by the Issuer on its Form 10-Q for the quarter ended June 30, 2003.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of Schedule 13D is amended to read in its entirety as follows:
Item 3. Source and Amount of Funds or Other Consideration.
The securities reported in Item 5 as beneficially owned by the Reporting Persons
were acquired as follows: Accounts managed by Iridian (excluding Iridian Private
Business, Iridian Investors and Iridian Partners) purchased an aggregate of
7,611,432 shares of Common Stock for total consideration (including brokerage
commissions) of approximately $168.9 million derived from the capital of the
managed accounts.
Iridian Private Business, Iridian Investors and Iridian Partners purchased an
aggregate of 307,800 shares of Common Stock for a total consideration (including
brokerage commissions) of approximately $6.1 million derived from the capital of
Iridian Private Business, Iridian Investors and Iridian Partners.
Item 4. Purpose of Transaction.
Item 4 of Schedule 13D is amended to read in its entirety as follows:
At this time, the securities covered by this Statement were acquired for
purposes of investment. Iridian does not currently plan or intend to acquire or
dispose of any securities of the Issuer other than on behlaf of its advisory
clients for purposes of investment. Iridian may decide to purchase on behlaf of
its advisory clients additional securities of the Issuer. In addition, Iridian
may cause its advisory clients to dispose of any or all securities of the Issuer
in any manner permitted by applicable securities laws. Iridian's advisory
clients reserve the right to exercise any and all of their respective rights as
a shareholder of the Issuer in a manner consistent with their equity interests.
At this time, none of the Reporting Persons has any plans or proposals which
relate to or would result in any of the matters specified in paragraphs (a)
through (j) of Item 4 of Schedule 13D.
CUSIP No. 448924100 Schedule 13D Page 14 of 17 Pages
Item 5. Interest in Securities of the Issuer..
Item 5 of Schedule 13D is amended to read in its entirety as follows:
Item 5. Interest in Securities of the Issuer.
(a), (b) As of September 29, 2003, the Reporting Persons may be deemed to
beneficially own in the aggregate 7,919,232 shares of Common Stock, representing
approximately 9.5% of the outstanding Common Stock (the percentage of shares of
Common Stock owned being based upon 83,079,905 shares of Common Stock
outstanding at August 7, 2003 as set forth in the Issuer's Quarterly Report on
Form 10-Q for the quarterly period ended June 30, 2003).
The Reporting Persons may be deemed to have direct beneficial ownership of
shares of Common Stock as follows:
Name Number of Shares Percentage
Iridian (1) 7.611,432 9.2%
Iridian Private Business 220,800 0.3%
Iridian Partners 44,900 less than 0.1%
Iridian Investors 42,100 less than 0.1%
(1) The shares of Common Stock set forth above for Iridian do not include the
shares of Common Stock held by Iridian Private Business, Iridian Investors and
Iridian Partners.
Iridian has direct beneficial ownership of the shares of Common Stock in the
accounts which it manages. In addition, Iridian is the investment adviser for
Iridian Private Business, Iridian Investors and Iridian Partners. In such
capacity, Iridian has the right to vote and direct the disposition of shares of
Common Stock held by such entities and, consequently, has beneficial ownership
of such shares.
BIAM (US) Inc., as the controlling member of Iridian, may be deemed to possess
beneficial ownership of the shares of Common Stock beneficially owned by
Iridian. BancIreland, as the sole shareholder of BIAM (US) Inc., may be deemed
to possess beneficial ownership of the shares of Common Stock beneficially owned
by BIAM (US) Inc. IBI, as the sole shareholder of BancIreland, may be deemed to
possess beneficial ownership of the shares of Common Stock beneficially owned by
BancIreland. Bank of Ireland, as the sole shareholder of IBI, may be deemed to
possess beneficial ownership of the shares of Common Stock beneficially owned by
IBI. Messrs. Cohen and Levy may be deemed to possess beneficial ownership of the
shares of Common Stock beneficially owned by Iridian by virtue of having the
power to vote and direct the disposition of shares of Common Stock as joint
Chief Investment Officers of Iridian. Messrs. Cohen and Levy disclaim beneficial
ownership of such shares.
COLE, as the sole general partner of Iridian Private Business, Iridian Investors
and Iridian Partners may be deemed to own beneficially shares of Common Stock of
which Iridian Private Business, Iridian Investors and Iridian Partners may be
deemed to possess direct beneficial ownership. Iridian, as the sole member of
COLE, may be deemed to possess beneficial ownership of the shares of Common
Stock that are beneficially owned by COLE.
Iridian has the direct power to vote or direct the vote, and the direct power to
dispose or direct the disposition, of 7,611,432 shares of Common Stock. Messrs.
Cohen and Levy may be deemed to share with Iridian the power to vote or direct
the vote and to dispose or direct the disposition of such shares. Messrs. Cohen
and Levy disclaim beneficial ownership of such shares.
Iridian has the direct power to vote or direct the vote, and the direct power to
dispose or direct the disposition, of the 307,800 shares of Common Stock held by
Iridian Private Business, Iridian Investors and Iridian Partners. COLE (in
addition to Messrs. Cohen and Levy) may be deemed to share with Iridian the
power to vote or direct the vote and to dispose or direct the disposition of
such shares.
(c) Other than the transactions described in Schedule I of this statement, no
Reporting Person nor any director or executive officer of any Reporting Person
has effected any transactions in the Common Stock during the past 60 days.
(d) No person other than the Reporting Persons has any right to receive or the
power to direct the receipt of dividends from, or the proceeds of the sale of,
any of the Common Stock beneficially owned by the Reporting Persons, except that
the dividends from, or proceeds from the sale of, shares of Common Stock in each
respective account managed by Iridian (or, in the case of First Eagle, managed
by Messrs. Cohen and Levy) will be delivered into each such respective account.
(e) Not applicable.
CUSIP No. 448924100 Schedule 13D Page 15 of 17 Pages
SIGNATURE.
After reasonable inquiry and to the best of its or his knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Date: September 30, 2003
THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND
By: /s/ John Clifford
----------------------------------
John Clifford
Group Secretary
IBI INTERFUNDING
By: /s/ Peter Nugent
----------------------------------
Peter Nugent
Secretary
BANCIRELAND/FIRST FINANCIAL, INC.
By: /s/ Diane Morrison
----------------------------------
Diane Morrison
BIAM (US) INC.
By: /s/ Diane Morrison
----------------------------------
Diane Morrison
Director
CUSIP No. 448924100 Schedule 13D Page 16 of 17 Pages
IRIDIAN ASSET MANAGEMENT LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
COLE PARTNERS LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
IRIDIAN PRIVATE BUSINESS VALUE EQUITY FUND, L.P.
By: COLE PARTNERS LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
IRIDIAN PARTNERS FUND, L.P.
By: COLE PARTNERS LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
IRIDIAN INVESTORS, L.P.
By: COLE PARTNERS LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott, Executive Vice President
By: /s/ David L. Cohen
----------------------------------
David L. Cohen, individually
By: /s/ Harold J. Levy
----------------------------------
Harold J. Levy, individually
CUSIP No. 448924100 Schedule 13D Page 17 of 17 Pages
SCHEDULE I
REPORTING PERSONS TRANSACTIONS IN COMMON STOCK
Summary of Transactriosn within the last sixty days.
Unless otherwise indicated, each of the transactions described below was a
purcuase of Common Stock by Iridian for cash on the New York Stock Exchange.
Date Numbere of Shares Price Per Share (1)
08/06/03 Buy 1,000 $15.3000
08/18/03 Buy 121,100 $15.0000
08/29/03 Buy 1,100 $17.1200
09/02/03 Buy 1,000 $18.0900
09/04/03 Buy 8,400 $18.2213
09/10/03 Buy 3,000 $17.7850
08/01/03 Sell 3,600 $15.2867
08/04/03 Sell 22,400 $15.9750
08/08/03 Sell 3,100 $15.2110
08/19/03 Sell 5,500 $14.8950
08/25/03 Sell 6,600 $15.5123
08/26/03 Sell 11,100 $15.2390
09/17/03 Sell 2,900 $18.7010
09/22/03 Sell 16,200 $18.4197
09/23/03 Sell 4,300 $18.4100
09/24/03 Sell 23,800 $18.1636
09/25/03 Sell 22,700 $17.8190
08/11/03 Deliver Out 21,200 $15.0600
08/27/03 Deliver Out 12,300 $15.5900
09/24/03 Deliver Out 26,100 $18.5100
(1) Price includes commission.