SCHEDULE 13D/A
(AMENDMENT NO. 3)
Under the Securities Exchange Act of 1934
Hexcel Corporation
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(Name of Company)
Common Stock
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(Title of Class of Securities)
428291108
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(CUSIP Number of Class of Securities)
Oscar S. Schafer
O.S.S. Capital Management LP
598 Madison Avenue
New York, NY 10022
(212) 756-8700
With a copy to:
Marc Weingarten, Esq. and
David Rosewater, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, NY 10022
(212) 756-2000
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 26, 2007
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(Date of Event which Requires
Filing of this Schedule)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D/A, and is filing this
schedule because of ss.ss.240.13D -1(e), 240.13D/A-1(f) or 240.13D-1(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. See ss.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 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).
SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 2 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
O.S.S. Capital Management LP
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICALLY 5,285,900
OWNED BY ---------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,285,900
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
5,285,900
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)
5.53% (see Item 5)
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14 TYPE OF REPORTING PERSON*
PN
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SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 3 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Oscar S.
Schafer & Partners I LP
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X]
(b)[ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICALLY 205,970
OWNED BY ---------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
205,970
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
205,970
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.22% (see Item 5)
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14 TYPE OF REPORTING PERSON*
PN
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SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 4 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Oscar S. Schafer & Partners II LP
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICALLY 2,325,586
OWNED BY ---------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,325,586
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,325,586
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.43% (see Item 5)
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14 TYPE OF REPORTING PERSON*
PN
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SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 5 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
O.S.S. Overseas Fund Ltd.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICALLY 2,680,981
OWNED BY ---------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,680,981
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,680,981
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.80% (see Item 5)
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14 TYPE OF REPORTING PERSON*
CO
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SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 6 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
O.S.S. Advisors LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICALLY 2,531,556
OWNED BY ---------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,531,556
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,531,556
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.65% (see Item 5)
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14 TYPE OF REPORTING PERSON*
OO
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SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 7 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Schafer Brothers LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICALLY 5,285,900
OWNED BY ---------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,285,900
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
5,285,900
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.53% (see Item 5)
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
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SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 8 OF 12 PAGES 1
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Oscar S. Schafer
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICALLY 5,285,900
OWNED BY ---------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,285,900
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
5,285,900
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW [ ]
(11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.53% (see Item 5)
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
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SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 9 OF 12 PAGES 1
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Peter J. Grondin
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X]
(b)[ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICALLY 0
OWNED BY ---------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 800
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
800
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW [ ]
(11) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0% (see Item 5)
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
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SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 10 OF 12 PAGES
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Pursuant to Rule 13D-2 promulgated under the Act, this Schedule 13D/A (the
"Amendment No. 3") amends the Schedule 13D filed on April 27, 2007 (the
"Original 13D"), as amended by Amendment No. 1 dated July 25, 2007 ("Amendment
No. 1") and Amendment No. 2 dated October 22, 2007 ("Amendment No. 2").
This Amendment No. 3 is being filed by O.S.S. Capital Management LP, Oscar
S. Schafer & Partners I LP, Oscar S. Schafer & Partners II LP, O.S.S. Overseas
Fund Ltd., O.S.S. Advisors LLC, Schafer Brothers LLC, Oscar S. Schafer and Peter
J. Grondin. Amendment No. 3 relates to the shares of common stock ("Shares") of
Hexcel Corporation, a Delaware corporation (the "Issuer").
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 of the Original 13D, as heretofore amended, is being amended to include
the following:
On November 26, 2007, Oscar S. Schafer & Partners II LP ("OSS II") sent a
notice to the Issuer declaring its intention to nominate the following three
persons for election to the Board of Directors of the Issuer at the Issuer's
2008 annual meeting: Mr. Edward A. Blechschmidt; Mr. Timothy D. Leuliette; and
Mr. J.V. Hirsch (the "Nominees"). OSS II also delivered to the Issuer a demand
to inspect the Issuer's shareholder list and related materials, pursuant to
Section 220 of the Delaware General Corporations Law.
The Reporting Persons and certain related parties intend to file
preliminary proxy materials with the Securities and Exchange Commission and to
solicit proxies in support of the election of the Nominees at the Issuer's 2008
annual meeting.
The Reporting Persons intend to review the investment in the Issuer on a
continuing basis. Representatives of the Reporting Persons may engage in
discussions with representatives of the Issuer, management, the Board, other
shareholders of the Issuer and other relevant parties concerning, among other
things, the business, operations, board composition, management, strategy and
future plans of the Issuer. Depending on various factors including, without
limitation, the Issuer's financial position and strategic direction, the outcome
of the discussions and actions referenced above, price levels of the Shares,
conditions in the securities market and general economic and industry
conditions, the Reporting Persons may in the future take such actions with
respect to the investment in the Issuer as they deem appropriate including,
without limitation, purchasing additional Shares or selling some or all of the
Shares, engaging in short selling or any hedging or similar transactions and/or
otherwise changing their intention with respect to any and all matters referred
to in Item 4 of Schedule 13D.
SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 11 OF 12 PAGES
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SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: November 26, 2007
OSCAR S. SCHAFER
By:/S/ OSCAR S. SCHAFER
----------------------------
Oscar S. Schafer, individually
O.S.S. CAPITAL MANAGEMENT LP
By: Schafer Brothers LLC, as General Partner
By:/S/ OSCAR S. SCHAFER
----------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
OSCAR S. SCHAFER & PARTNERS I LP
By: O.S.S. Advisors LLC, as General Partner
By:/S/ OSCAR S. SCHAFER
----------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
SCHEDULE 13D/A
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CUSIP NO. 428291108 PAGE 12 OF 12 PAGES
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OSCAR S. SCHAFER & PARTNERS II LP
By: O.S.S. Advisors LLC, as General Partner
By:/S/ OSCAR S. SCHAFER
----------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
O.S.S. OVERSEAS FUND LTD.
By:/S/ OSCAR S. SCHAFER
----------------------------
Name: Oscar S. Schafer
Title: Director
O.S.S. ADVISORS LLC
By:/S/ OSCAR S. SCHAFER
----------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
SCHAFER BROTHERS LLC
By:/S/ OSCAR S. SCHAFER
----------------------------
Name: Oscar S. Schafer
Title: Senior Managing Member
PETER J. GRONDIN
By:/S/ PETER J. GRONDIN
----------------------------
Peter J. Grondin, individually