SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------
SCHEDULE 13D*
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Under the Securities Exchange Act of 1934
(Amendment No. )(1)
Aleris International, Inc.
-------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
-------------------------------------------------------------------------------
(Title of Class of Securities)
014477103
-------------------------------------------------------------------------------
(CUSIP Number)
Eleazer Klein, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, New York 10022
(212) 756-2000
-------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 12, 2006
-------------------------------------------------------------------------------
(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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. [X]
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 12 Pages)
--------------------------
(1) 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).
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 2 OF 12 PAGES
------------------------------ --------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Brahman Capital Corp.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,585,600 (see Item 5)
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,585,600 (see Item 5)
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
3,585,600 (see Item 5)
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.43% (see Item 5)
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO, IA
-------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 3 OF 12 PAGES
------------------------------ --------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Brahman Management, L.L.C.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
---------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,034,800 (see Item 5)
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,034,800 (see Item 5)
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,034,800 (see Item 5)
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.49% (see Item 5)
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
-------------------------------------------------------------------------------
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 4 OF 12 PAGES
------------------------------ --------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Peter A. Hochfelder
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEM 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
BENEFICIALLY 3,585,600 (see Item 5)
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,585,600 (see Item 5)
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
3,585,600 (see Item 5)
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.43% (see Item 5)
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
-------------------------------------------------------------------------------
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 5 OF 12 PAGES
------------------------------ --------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Robert J. Sobel
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEM 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
BENEFICIALLY 3,585,600 (see Item 5)
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,585,600 (see Item 5)
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
3,585,600 (see Item 5)
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.43% (see Item 5)
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
-------------------------------------------------------------------------------
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 6 OF 12 PAGES
------------------------------ --------------------
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Mitchell A. Kuflik
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEM 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
BENEFICIALLY 3,585,600 (see Item 5)
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,585,600 (see Item 5)
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
3,585,600 (see Item 5)
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.43% (see Item 5)
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
-------------------------------------------------------------------------------
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 7 OF 12 PAGES
------------------------------ --------------------
Item 1. Security and Issuer.
This statement on Schedule 13D relates to the shares ("Shares") of common
stock of Aleris International, Inc. (the "Issuer"). The principal executive
office of the Issuer is located at 25825 Science Park Drive, Suite 400,
Beachwood, Ohio 44122.
Item 2. Identity and Background.
(a) This statement is filed by Brahman Capital Corp., a Delaware
corporation, Brahman Management, L.L.C., a Delaware limited liability company,
Peter A. Hochfelder, Robert J. Sobel and Mitchell A. Kuflik (each a "Reporting
Person" and together the "Reporting Persons"). The Shares reported herein are
held by certain investment funds and accounts managed by the Reporting Persons.
The Reporting Persons may be deemed to have beneficial ownership of the Shares
reported herein. Each Reporting Person expressly disclaims beneficial ownership
of the Shares reported herein.
(b) The principal business address of each of the Reporting Persons is 655
Third Avenue, 11th Floor, New York, New York 10017.
(c) The principal business of Brahman Caital Corp. and Brahman Management,
L.L.C. is managing investment funds and accounts holding securities over which
the Reporting Persons have voting and dispositive power. The principal business
of each of Peter A. Hochfelder, Robert J. Sobel and Mitchell A. Kuflik is to
serve as an investment advisor.
(d) None of the Reporting Persons has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) None of the Reporting Persons has, during the last five years, been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
(f) Brahman Capital Corp. and Brahman Management L.L.C. are organized under
the laws of the State of Delaware. Peter A. Hochfelder, Robert J. Sobel and
Mitchell A. Kuflik are citizens of the United States of America.
Item 3. Source and Amount of Funds or Other Consideration.
The 3,585,600 Shares reported herein by the Reporting Persons were acquired
at an aggregate purchase price of approximately $117,613,258 (including
brokerage commissions) using its investment capital in the ordinary
course of business.
Item 4 Purpose of Transaction.
The Reporting Persons previously filed a Schedule 13G with respect to the
Shares on March 23, 2005, as amended by Amendment No. 1 on February 14, 2006.
The Reporting Persons acquired the Shares for investment in the ordinary
course of business, but they now intend to explore opportunities to enhance the
value of the Issuer. In this regard, the Reporting Persons have undertaken, and
intend to continue to undertake, discussions with the Issuer, third parties and
other shareholders. The Reporting Persons would support or participate in any
such opportunity only if it is also supported by senior management of the
Issuer.
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 8 OF 12 PAGES
------------------------------ --------------------
Except as set forth herein, none of the Reporting Persons have any present
plan or proposal that would relate to or result in any of the matters set forth
in subparagraphs (a) - (j) of Item 4 of Schedule 13D. The Reporting Persons
intend to review their investment in the Issuer on a continuing basis. Depending
on various factors including, without limitation, the Issuer's financial
position and strategic direction, price levels of the Shares, conditions in the
securities market and general economic and industry conditions, the Reporting
Person may in the future take such actions with respect to its investment in the
Issuer as it deems appropriate including, without limitation, purchasing
additional Shares or selling some or all of its Shares, and, alone or with
others, pursuing discussions with the Issuer, other shareholders and third
parties with regard to its investment in the Issuer, and/or otherwise changing
its intention with respect to any and all matters referred to in Item 4 of
Schedule 13D.
Item 5. Interest in Securities of the Company.
(a) The aggregate percentage of Shares reported to be beneficially owned by
the Reporting Person is based upon 31,366,025 Shares outstanding, which is the
total number of Shares outstanding as reported in the Issuer's Quarterly Report
on Form 10-Q for the quarter ended March 31, 2006.
As of the close of business on June 21, 2006, each of Brahman Capital
Corp., Peter A. Hochfelder, Robert J. Sobel and Mitchell A. Kuflik may be deemed
to beneficially own 3,585,600 Shares on behalf of Brahman Partners II, L.P., a
Delaware limited partnership ("Brahman II"); Brahman Partners III, L.P., a
Delaware limited partnership ("Brahman III"); Brahman Institutional Partners,
L.P., a Delaware limited partnership ("Brahman Institutional"); BY Partners,
L.P., a Delaware limited partnership ("BY Partners"); Brahman C.P.F. Partners,
L.P., a Delaware limited partnership ("Brahman C.P.F."); Brahman Partners II
Offshore, Ltd., a Cayman Islands company ("Brahman II Offshore"); Brahman
Partners IV L.P., a Delaware limited partnership ("Brahman IV"); Brahman
Partners IV Offshore, Ltd., a Cayman Islands company ("Brahman IV Offshore");
and a separately managed account ("Managed Account").
Brahman II, Brahman III, Brahman Institutional, BY Partners, Brahman
C.P.F., Brahman II Offshore, Brahman IV, Brahman IV Offshore and Managed Account
are each investment funds, of which the investment manager is Brahman Capital.
As the investment manager of Brahman II, Brahman III, Brahman Institutional, BY
Partners, Brahman C.P.F., Brahman II Offshore, Brahman IV, Brahman IV Offshore
and Managed Account, Brahman Capital has the power to vote and dispose of the
Shares owned by each of Brahman II, Brahman III, Brahman Institutional, BY
Partners, Brahman C.P.F., Brahman II Offshore, Brahman IV, Brahman IV Offshore
and Managed Account, and, accordingly, may be deemed the indirect "beneficial
owner" of such Shares. Brahman Capital expressly disclaims beneficial ownership
of the Shares reported herein.
Peter A. Hochfelder, Robert J. Sobel and Mitchell A. Kuflik are the
executive officers and directors of Brahman Capital. As executive officers and
directors of Brahman Capital, they have the ability to control the decisions of
such entity. Therefore, they may be deemed the indirect "beneficial owners" of
the Shares owned by each of Brahman II, Brahman III, Brahman Institutional, BY
Partners, Brahman C.P.F., Brahman II Offshore, Brahman IV, Brahman IV Offshore
and Managed Account. Each of Peter A. Hochfelder, Robert J. Sobel and Mitchell
A. Kuflik expressly disclaims beneficial ownership of the Shares reported
herein.
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 9 OF 12 PAGES
------------------------------ --------------------
As of the close of business on June 21, 2006, Brahman Management, L.L.C.
("Brahman Management") may be deemed to beneficially own 2,034,800 Shares on
behalf of Brahman II, Brahman III, Brahman Institutional, BY Partners, Brahman
C.P.F. and Brahman IV.
Brahman II, Brahman III, Brahman Institutional, BY Partners, Brahman C.P.F.
and Brahman IV are each investment funds, of which the general partner
is Brahman Management. As the general partner of Brahman II, Brahman III,
Brahman Institutional, BY Partners, Brahman C.P.F. and Brahman IV, Brahman
Management has the power to vote and dispose of the Shares owned by each of
Brahman II, Brahman III, Brahman Institutional, BY Partners, Brahman C.P.F. and
Brahman IV, and, accordingly, may be deemed the indirect "beneficial owner" of
such Shares. Brahman Management expressly disclaims beneficial ownership of
the Shares reported herein.
Peter A. Hochfelder, Mitchell A. Kuflik and Robert J. Sobel are the
managing members of Brahman Management (the "Managing Members"). As the Managing
Members of Brahman Management, they have the ability to control the decisions of
such entity. Therefore, the Managing Members may be deemed the indirect
"beneficial owners" of the Shares owned by each of Brahman II, Brahman III,
Brahman Institutional, BY Partners, Brahman C.P.F. and Brahman IV. Each of the
Managing Members expressly disclaims beneficial ownership of the shares reported
herein.
(b) Each of Brahman Capital Corp., Peter A. Hochfelder, Robert J. Sobel and
Mitchell A. Kuflik have shared voting and dispositive power over 3,585,600
Shares and Brahman Management, L.L.C. has shared voting and dispositive power
over 2,034,800 Shares.
(c) Information concerning transactions relating to the Shares effected
through open market transactions by the Reporting Persons during the past sixty
days is attached as Annex A hereto.
(d) No person (other than the Reporting Persons) is known to have the right
to receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of, the Shares.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Company.
Except as otherwise set forth herein, none of the Reporting Persons has any
contract, arrangement, understanding or relationship with any person with
respect to any securities of the Issuer.
Item 7. Material to be Filed as Exhibits.
Exhibit I: Joint Filing Statement, dated as of June 22, 2006, among Brahman
Capital Corp., Brahman Management, L.L.C., Peter A. Hochfelder, Robert J. Sobel
and Mitchell A. Kuflik.
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 10 OF 12 PAGES
------------------------------ --------------------
SIGNATURES
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.
Dated: June 22, 2006
BRAHMAN CAPITAL CORP.
By: /s/ Peter A. Hochfelder
---------------------------------
Name: Peter A. Hochfelder
Title: President
BRAHMAN MANAGEMENT L.L.C.
By: /s/ Peter A. Hochfelder
---------------------------------
Name: Peter A. Hochfelder
Title: Managing Member
/s/ Peter A. Hochfelder
-------------------------------------
Peter A. Hochfelder
/s/ Robert J. Sobel
-------------------------------------
Robert J. Sobel
/s/ Mitchell A. Kuflik
-------------------------------------
Mitchell A. Kuflik
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 11 OF 12 PAGES
------------------------------ --------------------
EXHIBIT I
JOINT FILING AGREEMENT
This will confirm the agreement by and among the undersigned that the
Schedule 13D filed with the Securities and Exchange Commission on or about the
date hereof with respect to the beneficial ownership by the undersigned of the
common stock of Aleris International Inc., a Delaware corporation, is being
filed, and all amendments thereto will be filed, on behalf of each of the
persons and entities named below in accordance with Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended. This Agreement may be executed in
two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.
Dated June 22, 2006
BRAHMAN CAPITAL CORP.
BY: /s/ Peter A. Hochfelder
---------------------------------
Name: Peter A. Hochfelder
Title: President
BRAHMAN MANAGEMENT L.L.C.
BY: /s/ Peter A. Hochfelder
---------------------------------
Name: Peter A. Hochfelder
Title: Managing Member
/s/ Peter A. Hochfelder
-------------------------------------
Peter A. Hochfelder
/s/ Robert J. Sobel
-------------------------------------
Robert J. Sobel
/s/ Mitchell A. Kuflik
-------------------------------------
Mitchell A. Kuflik
------------------------------ --------------------
CUSIP NO. 014477103 SCHEDULE 13D PAGE 12 OF 12 PAGES
------------------------------ --------------------
Annex A
---------------------------------------------------------------------
Number of
Date Purchase/Sale Shares Price per Share
---------------------------------------------------------------------
4/26/2006 Sale 100,000 51.5003
---------------------------------------------------------------------
4/26/2006 Purchase 50,000 49.2093
---------------------------------------------------------------------
4/27/2006 Purchase 25,000 46.5680
---------------------------------------------------------------------
5/1/2006 Purchase 10,000 46.1408
---------------------------------------------------------------------
5/4/2006 Sale 50,000 49.5000
---------------------------------------------------------------------
5/5/2006 Sale 82,800 49.5466
---------------------------------------------------------------------
5/8/2006 Sale 150,000 50.7737
---------------------------------------------------------------------
5/9/2006 Purchase 46,400 49.7532
---------------------------------------------------------------------
5/11/2006 Purchase 133,800 48.5186
---------------------------------------------------------------------
5/12/2006 Purchase 151,200 47.6057
---------------------------------------------------------------------
5/15/2006 Purchase 90,000 47.6330
---------------------------------------------------------------------
5/16/2006 Purchase 25,000 47.2500
---------------------------------------------------------------------
5/17/2006 Purchase 183,300 46.7803
---------------------------------------------------------------------
5/18/2006 Purchase 100,000 46.3061
---------------------------------------------------------------------
5/19/2006 Purchase 230,500 44.8664
---------------------------------------------------------------------
5/22/2006 Purchase 68,800 44.1556
---------------------------------------------------------------------
5/24/2006 Purchase 110,000 42.5904
---------------------------------------------------------------------
6/12/2006 Purchase 555,900 39.7138
---------------------------------------------------------------------