UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
OWENS-ILLINOIS, INC.
--------------------
(Name of Issuer)
Common Stock, $.01 par value per share
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(Title of Class of Securities)
690768403
------------------------------
(CUSIP Number)
December 31, 2005
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[ X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* 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 in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("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).
Continued on following pages
Page 1 of 8 Pages
SCHEDULE 13G
CUSIP No.: 690768403 Page 2 of 8 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL MANAGEMENT, LLC
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
Delaware
.................................................................................
Number of 5. Sole Voting Power None
Shares .............................................................
Beneficially 6. Shared Voting Power 4,439,651
Owned by Each .............................................................
Reporting 7. Sole Dispositive Power None
Person With .............................................................
8. Shared Dispositive Power 4,439,651
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,439,651
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
2.9% based on 152,851,558 shares outstanding as of October 31, 2005.
.................................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 690768403 Page 3 of 8 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL GP, LLC
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
Delaware
.................................................................................
Number of 5. Sole Voting Power None
Shares .............................................................
Beneficially 6. Shared Voting Power 4,439,651
Owned by Each .............................................................
Reporting 7. Sole Dispositive Power None
Person With .............................................................
8. Shared Dispositive Power 4,439,651
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,439,651
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
2.9% based on 152,851,558 shares outstanding as of October 31, 2005.
.................................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 690768403 Page 4 of 8 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
LAWRENCE M. ROBBINS
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
United States of America
.................................................................................
Number of 5. Sole Voting Power None
Shares .............................................................
Beneficially 6. Shared Voting Power 4,439,651
Owned by Each .............................................................
Reporting 7. Sole Dispositive Power None
Person With .............................................................
8. Shared Dispositive Power 4,439,651
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,439,651
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
2.9% based on 152,851,558 shares outstanding as of October 31, 2005.
.................................................................................
12. Type of Reporting Person:
IA
Page 5 of 8 Pages
Item 1(a). Name of Issuer:
Owens-Illinois, Inc. (the "Issuer")
Item 1(b). Address of Issuer's Principal Executive Offices:
One SeaGate, Toledo, Ohio 43666.
Item 2(a). Name of Person Filing
This Statement is filed on behalf of each of the following
persons (collectively, the "Reporting Persons"):
i) Glenview Capital Management, LLC ("Glenview Capital
Management");
ii) Glenview Capital GP, LLC ("Glenview Capital GP"); and
iii) Lawrence M. Robbins ("Mr. Robbins").
This Statement relates to Shares (as defined herein) held for
the accounts of Glenview Capital Partners, L.P., a Delaware limited partnership
("Glenview Capital Partners"), Glenview Institutional Partners, L.P., a Delaware
limited partnership ("Glenview Institutional Partners"), Glenview Capital Master
Fund, Ltd., a Cayman Islands exempted company ("Glenview Capital Master Fund"),
GCM Little Arbor Master Fund, Ltd., a Cayman Islands exempted company ("GCM
Little Arbor Master Fund"), GCM Little Arbor Institutional Partners, L.P., a
Delaware limited partnership ("GCM Little Arbor Institutional Partners"), and
GCM Little Arbor Partners, L.P., a Delaware limited partnership ("GCM Little
Arbor Partners").
Glenview Capital Management serves as investment manager to
each of Glenview Capital Partners, Glenview Institutional Partners, Glenview
Capital Master Fund, GCM Little Arbor Master Fund, GCM Little Arbor
Institutional Partners, and GCM Little Arbor Partners. In such capacity,
Glenview Capital Management may be deemed to have voting and dispositive power
over the Shares held for the accounts of each of Glenview Capital Partners,
Glenview Institutional Partners, Glenview Capital Master Fund, GCM Little Arbor
Master Fund, GCM Little Arbor Institutional Partners, and GCM Little Arbor
Partners. Glenview Capital GP is the general partner of Glenview Capital
Partners, Glenview Institutional Partners, GCM Little Arbor Institutional
Partners and GCM Little Arbor Partners. Glenview Capital GP also serves as the
sponsor of the Glenview Capital Master Fund and the GCM Little Arbor Master
Fund. In such capacities, Glenview Capital GP may be deemed to have voting and
dispositive power over the Shares held for the accounts of each of Glenview
Capital Partners, Glenview Institutional Partners, Glenview Capital Master Fund,
GCM Little Arbor Master Fund, GCM Little Arbor Institutional Partners, and GCM
Little Arbor Partners. Mr. Robbins is the Chief Executive Officer of Glenview
Capital Management and Glenview Capital GP.
Item 2(b). Address of Principal Business Office or, if None, Residence
The address of the principal business office of each of
Glenview Capital Management, Glenview Capital GP, and Mr. Robbins is 399 Park
Avenue, Floor 39, New York, New York 10022.
Page 6 of 8 Pages
Item 2(c). Citizenship
i) Glenview Capital Management is a Delaware limited
liability company;
ii) Glenview Capital GP is a Delaware limited liability
company; and
iii) Mr. Robbins is a citizen of the United States of
America.
Item 2(d). Title of Class of Securities:
Common Stock, $.01 par value per share (the "Shares")
Item 2(e). CUSIP Number:
690768403
Item 3. If This Statement is Filed Pursuant to ss.ss.240.13d-1(b)
or 240.13d-2(b) or (c), Check Whether the Person Filing is a:
This Item 3 is not applicable.
Item 4. Ownership:
Item 4(a). Amount Beneficially Owned:
As of February 14, 2005, each of the Reporting Persons may be
deemed to be the beneficial owner of 4,439,651 Shares. This amount consists of:
(A) 319,063 Shares held for the account of Glenview Capital Partners; (B)
2,386,718 Shares held for the account of Glenview Capital Master Fund; (C)
1,263,119 Shares held for the account of Glenview Institutional Partners; (D)
367,387 Shares held for the account of GCM Little Arbor Master Fund, (E) 97,097
Shares held for the account of GCM Little Arbor Institutional Partners, and (F)
6,267 Shares held for the account of GCM Little Arbor Partners.
Item 4(b). Percent of Class:
The number of Shares of which each of the Reporting Persons
may be deemed to be the beneficial owner constitutes approximately 2.9% of the
total number of Shares outstanding (based upon information provided by the
Issuer in its most recently-filed quarterly statement on Form 10-Q, there were
approximately 152,851,558 Shares outstanding as of October 31, 2005).
Item 4(c). Number of Shares of which such person has:
Glenview Capital Management, Glenview Capital GP, and Mr. Robbins:
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(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 4,439,651
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or direct the disposition of: 4,439,651
Page 7 of 8 Pages
Item 5. Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of
the date hereof the Reporting Persons have ceased to be the beneficial owner of
more than five percent of the Shares, check the following [X].
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
This Item 6 is not applicable
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent
Holding Company:
See disclosure in Item 2 hereof.
Item 8. Identification and Classification of Members of the Group:
This Item 8 is not applicable.
Item 9. Notice of Dissolution of Group:
This Item 9 is not applicable.
Item 10. Certification:
By signing below each of the Reporting Persons certifies that,
to the best of their knowledge and belief, the securities referred to above were
not acquired and are not held for the purpose of or with the effect of changing
or influencing the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any transaction
having that purpose or effect.
Page 8 of 8 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.
Date: February 14, 2006 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 14, 2006 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 14, 2006 LAWRENCE M. ROBBINS
/s/ Lawrence M. Robbins
-------------------------------