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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14A
(RULE 14A-101)
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934
FILED BY THE REGISTRANT [ ]
FILED BY A PARTY OTHER THAN THE REGISTRANT [X]
CHECK THE APPROPRIATE BOX:
[ ] PRELIMINARY PROXY STATEMENT
[ ] DEFINITIVE PROXY STATEMENT [ ] CONFIDENTIAL, FOR USE OF THE
[ ] DEFINITIVE ADDITIONAL MATERIALS COMMISSION ONLY (AS PERMITTED)
[X] SOLICITING MATERIAL PURSUANT TO BY RULE 14A-6(E)(2)
RULE 14A-12
HERCULES INCORPORATED
- --------------------------------------------------------------------------------
(NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
INTERNATIONAL SPECIALTY PRODUCTS INC.
- --------------------------------------------------------------------------------
(NAME OF PERSON(S) FILING PROXY STATEMENT, IF OTHER THAN THE REGISTRANT)
PAYMENT OF FILING FEE (CHECK THE APPROPRIATE BOX):
[X] NO FEE REQUIRED.
[ ] FEE COMPUTED ON TABLE BELOW PER EXCHANGE ACT RULES 14A-6(I)(4) AND 0-11.
(1) TITLE OF EACH CLASS OF SECURITIES TO WHICH TRANSACTION APPLIES:
NOT APPLICABLE
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(2) AGGREGATE NUMBER OF SECURITIES TO WHICH TRANSACTION APPLIES: NOT
APPLICABLE.
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(3) PER UNIT PRICE OR OTHER UNDERLYING VALUE OF TRANSACTION
COMPUTED PURSUANT TO EXCHANGE ACT RULE 0-11 (SET FORTH THE
AMOUNT ON WHICH THE FILING FEE IS CALCULATED AND STATE HOW
IT WAS DETERMINED): NOT APPLICABLE.
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(4) PROPOSED MAXIMUM AGGREGATE VALUE OF TRANSACTION: NOT APPLICABLE.
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(5) TOTAL FEE PAID: NOT APPLICABLE.
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[ ] FEE PAID PREVIOUSLY WITH PRELIMINARY MATERIALS:
[ ] CHECK BOX IF ANY PART OF THE FEE IS OFFSET AS PROVIDED BY EXCHANGE
ACT RULE 0-11(A)(2) AND IDENTIFY THE FILING FOR WHICH THE OFFSETTING
FEE WAS PAID PREVIOUSLY. IDENTIFY THE PREVIOUS FILING BY REGISTRATION
STATEMENT NUMBER, OR THE FORM OR SCHEDULE AND THE DATE OF ITS FILING.
(1) AMOUNT PREVIOUSLY PAID: NOT APPLICABLE.
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(2) FORM, SCHEDULE OR REGISTRATION STATEMENT NO.: NOT APPLICABLE.
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(3) FILING PARTY: NOT APPLICABLE.
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(4) DATE FILED: NOT APPLICABLE.
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)
------------------------------
HERCULES INCORPORATED
(Name of Issuer)
COMMON STOCK, $25/48 STATED VALUE PER SHARE 427056106
(Title of class of securities) (CUSIP number)
RICHARD A. WEINBERG, ESQ.
C/O ISP MANAGEMENT COMPANY, INC.
1361 ALPS ROAD
WAYNE, NEW JERSEY 07470
(973) 628-4000
(Name, address and telephone number of person authorized
to receive notices and communications)
WITH A COPY TO:
STEPHEN E. JACOBS, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153-0119
(212) 310-8000
MARCH 12, 2001
(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-(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. Seess. 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 purposes of Section 18 of the Securities Exchange Act of
1934 (the "Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act. (However, see the
Notes.)
(Continued on following pages)
(Page 1 of 7 Pages)
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NY2:\1023268\01\54104.0018
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CUSIP No. 427056106 13D Page 2 of 7 Pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON ISP OPCO HOLDINGS INC.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
- ---------------------- -------------------------------------------------------------------------------------------------------
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: 0
NUMBER OF
SHARES ------------------- -------------------------------------------------------------------------------
8 SHARED VOTING POWER: 10,719,200
BENEFICIALLY
OWNED BY ------------------- -------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER: 0
EACH
REPORTING ------------------- -------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 10,719,200
PERSON WITH
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 10,719,200
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.98%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
- ---------------------- -------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 427056106 13D Page 3 of 7 Pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON ISP INVESTMENTS INC.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
- ---------------------- -------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------- -------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC, 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: 10,719,200
NUMBER OF
SHARES ------------------- -------------------------------------------------------------------------------
8 SHARED VOTING POWER: 0
BENEFICIALLY
OWNED BY ------------------- -------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER: 10,719,200
EACH
REPORTING ------------------- -------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 0
PERSON WITH
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 10,719,200
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.98%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
- ---------------------- -------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------- --------------------------------------------------------
CUSIP No. 427056106 13D Page 4 of 7 Pages
- ----------------------------------------------------------- --------------------------------------------------------
- ---------------------- -------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON INTERNATIONAL SPECIALTY PRODUCTS INC.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------- -------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
- ---------------------- -------------------------------------------------------------------------------------------------------
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: 0
NUMBER OF
SHARES ------------------- -------------------------------------------------------------------------------
8 SHARED VOTING POWER: 10,719,200
BENEFICIALLY
OWNED BY ------------------- -------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER: 0
EACH
REPORTING ------------------- -------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 10,719,200
PERSON WITH
- ---------------------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 10,719,200
- ---------------------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
- ---------------------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.98%
- ---------------------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
- ---------------------- -------------------------------------------------------------------------------------------------------
This Amendment No. 8 ("Amendment No. 8") amends the statement
of beneficial ownership on Schedule 13D ("Schedule 13D") filed on July 24, 2000,
as amended by Amendment No. 1 filed on October 11, 2000, Amendment No. 2 filed
on January 23, 2001, Amendment No. 3 filed on February 7, 2001, Amendment No. 4
filed on February 20, 2001, Amendment No. 5 filed on February 28, 2001,
Amendment No. 6 filed on March 7, 2001, and Amendment No. 7 filed on March 9,
2001, by and on behalf of ISP Opco Holdings Inc. ("ISP Opco"), ISP Investments
Inc. ("ISP Investments"), and International Specialty Products Inc. ("ISP" and
together with ISP Investments and ISP Opco, the "Reporting Persons") with
respect to their ownership of common stock, stated value $25/48 per share
("Common Stock"), of Hercules Incorporated (the "Company"). Capitalized terms
used herein and not defined herein have the meanings ascribed thereto in the
Schedule 13D, as previously amended.
ITEM 4. PURPOSE OF TRANSACTION
On March 12, 2001, Samuel J. Heyman, Chairman of the Board of
ISP, sent the following letter to Mr. Thomas Gossage, Chairman, CEO and
President of the Company:
Mr. Thomas Gossage
Chairman, CEO and President
Hercules Incorporated
Hercules Plaza
1313 North Market Street
Wilmington, Delaware 19894-0001
Dear Tom:
We have not received a response to our February 7 and March 8 letters
concerning the director election Bylaw matter. I can only assume that this
matter has been referred to your Board for its determination, and from past
experience I must tell you, quite frankly, that I simply have no confidence in
the willingness of the Hercules Board to do the right thing.
And this brings us to a second point. In reviewing past actions of the
Hercules Board, which in our opinion evidence a clear disregard for the rights
and interests of the Company's shareholders, we simply cannot be sure that a
favorable vote on resolutions currently included in our Preliminary Proxy
Statement will be implemented by your Board without costly and time consuming
delay and even possible litigation. For example, what possible explanation could
there be for the following:
In 1992, a non-binding proposal to redeem Hercules' then
existing, 20% threshold poison pill or submit it to a stockholder vote
was approved by stockholders. Despite this stockholder mandate, the
Hercules Board never put it to a definitive vote and refused to
terminate the pill for three years. And then to add insult to injury,
notwithstanding the 1992 stockholder vote, the Hercules Board
implemented just this past August, without notice or shareholder
approval, a new poison pill with a low 10% threshold.
In view of the above, we have decided to table our other shareholder
proposals in order to focus the proxy contest on the election of our nominees.
As a result, both sides
5
will be able to address for shareholders, in a very direct and clear cut way,
the paramount issue - the Hercules Board's record of corporate stewardship.
Sincerely,
/s/ Samuel J. Heyman
* * *
ISP HAS FILED A PRELIMINARY PROXY STATEMENT WITH THE U.S. SECURITIES
AND EXCHANGE COMMISSION RELATING TO ISP'S SOLICITATION OF PROXIES FROM
THE STOCKHOLDERS OF THE COMPANY FOR USE AT THE 2001 ANNUAL MEETING. ISP
STRONGLY ADVISES ALL HERCULES STOCKHOLDERS TO READ THE FINAL DEFINITIVE
PROXY STATEMENT WHEN IT IS AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT
INFORMATION. WHEN COMPLETED, THE FINAL DEFINITIVE PROXY STATEMENT AND A
FORM OF PROXY WILL BE MAILED TO ALL HERCULES STOCKHOLDERS AND WILL BE
AVAILABLE AT NO CHARGE ON THE SEC WEBSITE AT HTTP:\\WWW.SEC.GOV. THE
PRELIMINARY PROXY STATEMENT, CONTAINING INFORMATION RELATING TO THE
PARTICIPANTS IN ISP'S PROXY SOLICITATION, IS CURRENTLY AVAILABLE AT NO
CHARGE ON THE SEC'S WEBSITE.
[The remainder of this page intentionally left blank.]
6
SIGNATURES
After reasonable inquiry and to the best of their knowledge
and belief, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Dated: March 12, 2001
ISP OPCO HOLDINGS INC.
ISP INVESTMENTS INC.
INTERNATIONAL SPECIALTY PRODUCTS INC.
By: /s/ Susan B. Yoos
---------------------------------------------
Susan B. Yoos
Executive Vice President and Treasurer
7