UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
NALCO HOLDING COMPANY
---------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
---------------------------------------
(Title of Class of Securities)
62985Q101
---------
(CUSIP Number)
April 3, 2007
-----------------
(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 9 Pages
SCHEDULE 13G
CUSIP No.: 62985Q101 Page 2 of 9 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 16,029,030
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 16,029,030
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
16,029,030
...............................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[ ]
...............................................................................
11. Percent of Class Represented by Amount in Row (9)
11.10% based on 144,355,802 shares outstanding as of March 19, 2007.
...............................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 62985Q101 Page 3 of 9 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 14,393,330
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 14,393,330
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
14,393,330
...............................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[x]
...............................................................................
11. Percent of Class Represented by Amount in Row (9)
9.97% based on 144,355,802 shares outstanding as of March 19, 2007.
...............................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 62985Q101 Page 4 of 9 Pages
...............................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL MASTER FUND, LTD.
...............................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
...............................................................................
3. SEC Use Only
...............................................................................
4. Citizenship or Place of Organization
Cayman Islands, British West Indies
...............................................................................
Number of 5. Sole Voting Power None
Shares ................................................................
Beneficially 6. Shared Voting Power 8,793,430
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 8,793,430
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
8,793,430
...............................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
|X|
...............................................................................
11. Percent of Class Represented by Amount in Row (9)
6.09% based on 144,355,802 shares outstanding as of March 19, 2007.
...............................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 62985Q101 Page 5 of 9 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 16,029,030
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 16,029,030
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
16,029,030
...............................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[ ]
...............................................................................
11. Percent of Class Represented by Amount in Row (9)
11.10% based on 144,355,802 shares outstanding as of March 19, 2007.
...............................................................................
12. Type of Reporting Person:
IA
Page 6 of 9 Pages
Item 1(a). Name of Issuer:
Nalco Holding Company (the "Issuer")
Item 1(b). Address of Issuer's Principal Executive Offices:
1601 West Diehl Road, Naperville, Illinois 60563-1198.
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");
iii) Glenview Capital Master Fund, Ltd. ("Glenview Capital Master
Fund"); and
iv) 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, a Cayman Islands exempted company, Glenview Offshore Opportunity Fund,
Ltd., a Cayman Islands exempted Company ("Glenview Offshore Opportunity fund"),
Glenview Capital Oppotunity Fund, L.P., a Delaware limited partnership
("Glenview Capital Opportunity 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"), GCM Little Arbor Partners, L.P., a Delaware
limited partnership ("GCM Little Arbor Partners"), and GCM Opportunity Fund,
L.P., a Delaware limited partnership ("GCM Opportunity Fund").
Glenview Capital Management serves as investment manager to each of
Glenview Capital Partners, Glenview Institutional Partners, Glenview Capital
Master Fund, Glenview Offshore Opportunity Fund, Glenview Capital Opportunity
Fund, GCM Little Arbor Master Fund, GCM Little Arbor Institutional Partners, GCM
Little Arbor Partners, and GCM Opportunity Fund. 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, Glenview Offshore
Opportunity Fund, Glenview Capital Opportunity Fund, GCM Little Arbor Master
Fund, GCM Little Arbor Institutional Partners, GCM Little Arbor Partners, and
GCM Opportunity Fund. 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 767 Fifth Avenue,
44th Floor, New York, New York 10153. The address of the principal business
office of Glenview Capital Master Fund is Harbour Centre, North Church Street,
P.O. Box 8966T, George Town, Grand Cayman, Cayman Islands, British West
Indies.
Page 7 of 9 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;
iii) Glenview Capital Master Fund is a Cayman Islands exempted
company; and
iv) Mr. Robbins is a citizen of the United States of America.
Item 2(d). Title of Class of Securities:
Common Stock, par value $0.01 per share (the "Shares")
Item 2(e). CUSIP Number:
62985Q101
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:
(i) As of April 3, 2007, each of Glenview Capital Management and Mr.
Robbins may be deemed to be the beneficial owner of 16,029,030 Shares. This
amount consists of: (A) 720,200 Shares held for the account of Glenview Capital
Partners; (B) 8,793,430 Shares held for the account of Glenview Capital Master
Fund; (C) 553,100 Shares held for the account of Glenview Offshore Opportunity
Fund; (D) 1,030,400 Shares held for the account of Glenview Capital Opportunity
Fund; (E) 3,726,600 Shares held for the account of Glenview Institutional
Partners; (F) 962,920 Shares held for the account of GCM Little Arbor Master
Fund, (G) 184,260 Shares held for the account of GCM Little Arbor Institutional
Partners, (H) 5,920 Shares held for the account of GCM Little Arbor Partners,
and (I) 52,200 Shares held for GCM Opportunity Fund.
(ii) As of April 3, 2007, Glenview Capital GP may be deemed to be
the beneficial owner of 14,393,330 Shares. This amount consists of: (A) 720,200
Shares held for the account of Glenview Capital Partners; (B) 8,793,430 Shares
held for the account of Glenview Capital Master Fund; (C) 3,726,600 Shares held
for the account of Glenview Institutional Partners; (D) 962,920 Shares held for
the account of GCM Little Arbor Master Fund, (E) 184,260 Shares held for the
account of GCM Little Arbor Institutional Partners, and (F) 5,920 Shares held
for the account of GCM Little Arbor Partners.
(iii) As of April 3, 2007, Glenview Capital Master Fund may be
deemed to be the beneficial owner of 8,793,430 Shares. This amount consists of
8,793,430 Shares held for its account.
Item 4(b) Percent of Class:
(i) The number of Shares of which each of Glenview Capital
Management and Mr. Robbins may be deemed to be the beneficial owner constitutes
approximately 11.10% of the total number of Shares outstanding (based upon
information provided by the Issuer in its most recently-filed proxy statement,
there were approximately 144,355,802 shares outstanding as of March 19, 2007).
(ii) The number of Shares of which Glenview Capital GP may be deemed
to be the beneficial owner constitutes approximately 9.97% of the total number
of Shares outstanding (based upon information provided by the Issuer in its most
recently-filed proxy statement, there were approximately 144,355,802 shares
outstanding as of March 19, 2007).
(iii) The number of Shares of which Glenview Capital Master Fund may
be deemed to be the beneficial owner constitutes approximately 6.09% of the
total number of Shares outstanding (based upon information provided by the
Issuer in its most recently-filed proxy statement, there were approximately
144,355,802 shares outstanding as of March 19, 2007).
Page 8 of 9 Pages
Item 4(c) Number of Shares of which such person has:
Glenview Capital Management and Mr. Robbins:
-------------------------------------------
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 16,029,030
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or direct the disposition of: 16,029,030
Glenview Capital GP:
-------------------
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 14,393,330
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or direct the disposition of: 14,393,330
Glenview Capital Master Fund:
----------------------------
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 8,793,430
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or direct the disposition of: 8,793,430
Item 5. Ownership of Five Percent or Less of a Class:
This Item 5 is not applicable
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 9 of 9 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: April 5, 2007 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: April 5, 2007 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: April 5, 2007 GLENVIEW CAPITAL MASTER FUND, LTD.
By: Glenview Capital Management, LLC
As Investment Manager
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: April 5, 2007 LAWRENCE M. ROBBINS
/s/ Lawrence M. Robbins
----------------------------