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)
NALCO HOLDING COMPANY
---------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
---------------------------------------
(Title of Class of Securities)
62985Q101
---------
(CUSIP Number)
December 31, 2006
-----------------
(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 11 Pages
Exhibit Index: Page 10
SCHEDULE 13G
CUSIP No.: 62985Q101 Page 2 of 11 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 13,795,367
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 13,795,367
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
13,795,367
...............................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[ ]
...............................................................................
11. Percent of Class Represented by Amount in Row (9)
9.6% based on 143,040,860 shares outstanding as of October 31, 2006.
...............................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 62985Q101 Page 3 of 11 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 13,795,367
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 13,795,367
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
13,795,367
...............................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[ ]
...............................................................................
11. Percent of Class Represented by Amount in Row (9)
9.6% based on 143,040,860 shares outstanding as of October 31, 2006.
...............................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 62985Q101 Page 4 of 11 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 7,868,567
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 7,868,567
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
7,868,567
...............................................................................
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)
5.5% based on 143,040,860 shares outstanding as of October 31, 2006.
...............................................................................
12. Type of Reporting Person:
IA
SCHEDULE 13G
CUSIP No.: 62985Q101 Page 5 of 11 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 13,795,367
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 13,795,367
...............................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
13,795,367
...............................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[ ]
...............................................................................
11. Percent of Class Represented by Amount in Row (9)
9.6% based on 143,040,860 shares outstanding as of October 31, 2006.
...............................................................................
12. Type of Reporting Person:
IA
Page 6 of 11 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, 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 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 11 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 December 29, 2006, each of Glenview Capital Management,
Glenview Capital GP and Mr. Robbins may be deemed to be the beneficial owner
of 13,795,367 Shares. This amount consists of: (A) 624,300 Shares held for the
account of Glenview Capital Partners; (B) 7,868,567 Shares held for the
account of Glenview Capital Master Fund; (C) 3,549,500 Shares held for the
account of Glenview Institutional Partners; (D) 1,358,800 Shares held for the
account of GCM Little Arbor Master Fund, (E) 372,400 Shares held for the
account of GCM Little Arbor Institutional Partners, and (F) 21,800 Shares held
for the account of GCM Little Arbor Partners.
(ii) As of December 29, 2006, Glenview Capital Master Fund may be
deemed to be the beneficial owner of 7,868,567 Shares. This amount consists of
7,868,567 Shares held for its account.
Item 4(b) Percent of Class:
(i) The number of Shares of which each of Glenview Capital
Management, Glenview Capital GP and Mr. Robbins may be deemed to be the
beneficial owner constitutes approximately 9.6% of the total number of Shares
outstanding (based upon information provided by the Issuer in its most
recently-filed repot on Form 10-Q, there were approximately 143,040,860 shares
outstanding as of October 31, 2006).
(ii) The number of Shares of which Glenview Capital Master Fund may be deemed
to be the beneficial owner constitutes approximately 7.1% of the total number
of Shares outstanding (based upon information provided by the Issuer in its
most recently-filed repot on Form 10-Q, there were approximately 143,040,860
shares outstanding as of October 31, 2006).
Page 8 of 11 Pages
Item 4(c) Number of Shares of which such person has:
Glenview Capital Management, Glenview Capital GP, and Mr. Robbins:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 13,795,367
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or direct the disposition of: 13,795,367
Glenview Capital Master Fund:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 7,868,567
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or direct the disposition of: 7,868,367
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 11 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, 2007 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 14, 2007 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 14, 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: February 14, 2007 LAWRENCE M. ROBBINS
/s/ Lawrence M. Robbins
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Page 10 of 11 Pages
EXHIBIT INDEX
Ex. Page No.
A Joint Filing Agreement, dated February 14, 2007 by and
among Glenview Capital Management, LLC, Glenview 11
Capital GP, LLC, Glenview Capital Master Fund,
Ltd., and Lawrence M. Robbins.......
Page 11 of 11 Pages
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G
with respect to the Common Stock of NALCO Holding Company dated as of February
14, 2007 is, and any amendments thereto (including amendments on Schedule 13D)
signed by each of the undersigned shall be, filed on behalf of each of us
pursuant to and in accordance with the provisions of Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended.
Date: February 14, 2007 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 14, 2007 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 14, 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: February 14, 2007 LAWRENCE M. ROBBINS
/s/ Lawrence M. Robbins
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