UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Price Communications Corporation
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
741437305
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(CUSIP Number)
December 31, 2004
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which the 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).
Persons who respond to the collection of information contained in this form are
not required to respond unless the form displays a currently valid OMB control
number.
CUSIP No. 741437305
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1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only).
Green & Smith Investment Management L.L.C.
13-3869675
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) X
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3. SEC Use Only
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4. Citizenship or Place of Organization Delaware
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5. Sole Voting Power None
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Number of 6. Shared Voting Power 371,529 shares
Shares Beneficially
Owned by Each Reporting
Person with:
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7. Sole Dispositive Power None
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8. Shared Dispositive Power 371,529 shares
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
371,529 shares of common stock of the Issuer ("Shares") which
consists of (i) 138,862 Shares beneficially owned by SPhinx Merger
Arbitrage; (ii) 104,912 Shares beneficially owned by Hudson Valley
Partners, L.P.; (iii) 37,435 Shares beneficially owned by The Merger
Fund Ltd.; (iv) 84,820 Shares beneficially owned by Institutional
Benchmarks Master Fund Limited; and (v) 5,500 Shares beneficially
owned by MSS Merger Arbitrage 2, which Green & Smith Investment
Management L.L.C. may be deemed to beneficially own by virtue of its
position as investment adviser or general partner of each of the
above private entities.
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
11. Percent of Class Represented by Amount in Row (9) 0.7%
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12. Type of Reporting Person (See Instructions) IA
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CUSIP No. 741437305
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1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only).
Frederick W. Green
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) X
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3. SEC Use Only
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4. Citizenship or Place of Organization United States
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5. Sole Voting Power None
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Number of 6. Shared Voting Power 3,561,922 shares
Shares Beneficially
Owned by Each Reporting
Person with:
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7. Sole Dispositive Power None
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8. Shared Dispositive Power 3,561,922 shares
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
3,561,922 Shares which consist of (i) 3,190,393 Shares beneficially
owned by The Merger Fund; (ii) 138,862 Shares beneficially owned by
SPhinx Merger Arbitrage; (iii) 104,912 Shares beneficially owned by
Hudson Valley Partners, L.P.; (iv) 37,435 Shares beneficially owned
by The Merger Fund Ltd.; (v) 84,820 Shares beneficially owned by
Institutional Benchmarks Master Fund Limited; and (vi) 5,500 Shares
beneficially owned by MSS Merger Arbitrage 2, which Frederick W.
Green may be deemed to benefincally own by virtue of his position as
President of Westchester Capital Management, Inc., the investment
adviser of The Merger Fund, or by virtue of his position as a member
of Green & Smith Investment Management L.L.C., which is the
investment adviser or general partner of each of the other private
entities listed above.
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
11. Percent of Class Represented by Amount in Row (9) 6.3%
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12. Type of Reporting Person (See Instructions) IN
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CUSIP No. 741437305
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1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only).
Bonnie L. Smith
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) X
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3. SEC Use Only
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4. Citizenship or Place of Organization United States
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5. Sole Voting Power None
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Number of 6. Shared Voting Power 3,561,922 shares
Shares Beneficially
Owned by Each Reporting
Person with:
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7. Sole Dispositive Power None
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8. Shared Dispositive Power 3,561,922 shares
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
3,561,922 Shares which consist of (i) 3,190,393 Shares beneficially
owned by The Merger Fund; (ii) 138,862 Shares beneficially owned by
SPhinx Merger Arbitrage; (iii) 104,912 Shares beneficially owned by
Hudson Valley Partners, L.P.; (iv) 37,435 Shares beneficially owned
by The Merger Fund Ltd.; (v) 84,820 Shares beneficially owned by
Institutional Benchmarks Master Fund Limited; and (vi) 5,500 Shares
beneficially owned by MSS Merger Arbitrage 2, which Bonnie L. Smith
may be deemed to benefincally own by virtue of her position as
Vice-President of Westchester Capital Management, Inc., the
investment adviser of The Merger Fund, or by virtue of her position
as a member of Green & Smith Investment Management L.L.C., which is
the investment adviser or general partner of each of the other
private entities listed above.
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
11. Percent of Class Represented by Amount in Row (9) 6.3%
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12. Type of Reporting Person (See Instructions) IN
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Item 1.
(a) Name of Issuer:
Price Communications Corporation
(b) Address of Issuer's Principal Executive Offices:
45 Rockefeller Plaza
New York, NY 10020
Item 2.
(a) Name of Person Filing:
(i) Green & Smith Investment Management L.L.C.
(ii) Frederick W. Green
(iii) Bonnie L. Smith
(b) Address or Principal Business Office or, if none, Residence:
(i) 100 Summit Drive, Valhalla, NY 10595
(ii) 100 Summit Drive, Valhalla, NY 10595
(iii) 100 Summit Drive, Valhalla, NY 10595
(c) Citizenship: See Item 4 of the cover pages attached hereto
(d) Title of Class of Securities: Common Stock, $0.01 par value
(e) CUSIP No.: 741437305
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:
(a) Green & Smith Investment Management L.L.C. is the general partner
of Hudson Valley Partners, L.P. and is the investment adviser to The
Merger Fund Ltd., SPhinx Merger Arbitrage, Institutional Benchmarks
Master Fund Limited and MSS Merger Arbitrage 2.
(b) Frederick W. Green is President of Westchester Capital Management,
Inc., the investment adviser of The Merger Fund, and is a member of
Green & Smith Investment Management L.L.C.
(c) Bonnie L. Smith is Vice-President of Westchester Capital
Management, Inc., the investment adviser of The Merger Fund, and is a
member of Green & Smith Investment Management L.L.C.
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount Beneficially Owned and
(b) Percent of Class: See Items 5 through 11 of the cover pages
attached hereto.
This Schedule 13G shall not be construed as an admission that
the Reporting Persons, either for purposes of Section 13(d) or
13(g) of the Securities Exchange Act of 1934, as amended, or
for other purposes, are the beneficial owners of any
securities covered by this statement.
(c) See Items 5 through 8 of the cover pages attached hereto.
Item 5. Ownership of 5 Percent or Less of a Class.
Not applicable
Item 6. Ownership of More than 5 Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control Person.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired and
are 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.
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.
February 10, 2005
GREEN & SMITH INVESTMENT MANAGEMENT L.L.C.
By: /s/ Bonnie L. Smith
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Name: Bonnie L. Smith
Title: Senior Vice President
/s/ Frederick W. Green
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Frederick W. Green
/s/ Bonnie L. Smith
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Bonnie L. Smith
Exhibit A
AGREEMENT
The undersigned, Green & Smith Investment Management L.L.C., Frederick
W. Green and Bonnie L. Smith, agree that the statement to which this exhibit is
appended is filed on behalf of each of them.
February 10, 2005
GREEN & SMITH INVESTMENT MANAGEMENT L.L.C.
By: /s/ Bonnie L. Smith
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Name: Bonnie L. Smith
Title:Senior Vice President
/s/ Frederick W. Green
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Frederick W. Green
/s/ Bonnie L. Smith
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Bonnie L. Smith