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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
(Section 240.13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO SECTIONS 240.13d-1(b), (c) and(d) AND AMENDMENTS THERETO FILED
PURSUANT TO SECTION 240.13d-2
(Amendment No. ___________)1
PRG-Schultz International, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value
--------------------------------------------------------------------------------
(Title of Class of Securities)
69357C107
--------------------------------------------------------------------------------
(CUSIP Number)
August 4, 2003
--------------------------------------------------------------------------------
(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)
Page 1 of 32 Pages
Exhibit Index Found on Page 24
------------------
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 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).
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
5 SOLE VOTING POWER
-0-
NUMBER OF -------------=============================================
6 SHARED VOTING POWER
SHARES
BENEFICIALLY
OWNED BY 668,600
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING
PERSON WITH -0-
-------------=============================================
SHARED DISPOSITIVE POWER
8
668,600
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
668,600
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
1.1 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 2 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 632,500
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
632,500
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
632,500
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
1.0 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 3 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners II, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 68,400
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
68,400
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
68,400
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.1 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 4 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners III, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 77,600
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
77,600
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,600
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.1 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 5 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tinicum Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
New York
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 34,200
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
34,200
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
34,200
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.1 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 6 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Management, L.L.C.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,875,491
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
1,875,491
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,875,491
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
3.0 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IA, OO
------------====================================================================
Page 7 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Partners, L.L.C.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,481,300
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
1,481,300
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,481,300
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
2.4 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
OO
------------====================================================================
Page 8 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David I. Cohen
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 9 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Chun R. Ding
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 10 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Joseph F. Downes
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 11 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Duhamel
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 12 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard B. Fried
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 13 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Monica R. Landry
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 14 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Mellin
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 15 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Stephen L. Millham
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 16 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Derek C. Schrier
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 17 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas F. Steyer
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 18 of 32 Pages
13G
===================
CUSIP No. 69357C107
===================
------------====================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mark C. Wehrly
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing hold an
aggregate of 3,356,791 Shares, which is 5.5% of the
class of securities. The reporting person on this cover
page, however, is a beneficial owner only of the
securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
5 SOLE VOTING POWER
NUMBER OF -0-
-------------=============================================
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,356,791
-------------=============================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH -------------=============================================
SHARED DISPOSITIVE POWER
8
3,356,791
------------====================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,356,791
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.5 %
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 19 of 32 Pages
Item 1. Issuer
------
(a) Name of Issuer:
PRG-Schultz International, Inc. (the "Company")
(b) Address of Issuer's Principal Executive Offices:
600 Galleria Parkway, Suite 100, Atlanta, Georgia 30339-5986
Item 2. Identity And Background.
-----------------------
Title Of Class Of Securities And CUSIP Number (Item 2(d) and (e))
-----------------------------------------------------------------------
This statement relates to Shares of Common Stock, no par value, (the
"Shares") of the Company. The CUSIP number of the Shares is 69357C107.
Name Of Persons Filing, Address Of Principal Business Office And
-----------------------------------------------------------------------
Citizenship (Item 2(a), (b) and (c))
------------------------------------
This statement is filed by the entities and persons listed below, all
of whom together are referred to herein as the "Reporting Persons."
The Partnerships
----------------
(i) Farallon Capital Partners, L.P., a California limited
partnership ("FCP"), with respect to the Shares held
by it;
(ii) Farallon Capital Institutional Partners, L.P., a
California limited partnership ("FCIP"), with respect
to the Shares held by it;
(iii) Farallon Capital Institutional Partners II, L.P., a
California limited partnership ("FCIP II"), with
respect to the Shares held by it;
(iv) Farallon Capital Institutional Partners III, L.P., a
Delaware limited partnership ("FCIP III"), with
respect to the Shares held by it; and
(v) Tinicum Partners, L.P., a New York limited
partnership ("Tinicum"), with respect to the Shares
held by it.
FCP, FCIP, FCIP II, FCIP III and Tinicum are together referred to
herein as the "Partnerships."
Page 20 of 32 Pages
The Management Company
----------------------
(vi) Farallon Capital Management, L.L.C., a Delaware
limited liability company (the "Management Company"),
with respect to the Shares held by certain accounts
managed by the Management Company (the "Managed
Accounts").
The General Partner Of The Partnerships
---------------------------------------
(vii) Farallon Partners, L.L.C., a Delaware limited
liability company which is the general partner of
each of the Partnerships (the "General Partner"),
with respect to the Shares held by each of the
Partnerships.
The Managing Members Of the General Partner And The Management Company
----------------------------------------------------------------------
(viii) The following persons who are managing members of
both the General Partner and the Management Company,
with respect to the Shares held by the Partnerships
and the Managed Accounts: David I. Cohen ("Cohen"),
Chun R. Ding ("Ding"), Joseph F. Downes ("Downes"),
William F. Duhamel ("Duhamel"), Richard B. Fried
("Fried"), Monica R. Landry ("Landry"), William F.
Mellin ("Mellin"), Stephen L. Millham ("Millham"),
Derek C. Schrier ("Schrier"), Thomas F. Steyer
("Steyer") and Mark C. Wehrly ("Wehrly").
Cohen, Ding, Downes, Duhamel, Fried, Landry, Mellin, Millham, Schrier,
Steyer and Wehrly are together referred to herein as the "Individual Reporting
Persons."
The citizenship of each of the Partnerships, the General Partner and
the Management Company is set forth above. Each of the Individual Reporting
Persons is a United States citizen. The address of the principal business office
of each of the Reporting Persons is c/o Farallon Capital Management, L.L.C., One
Maritime Plaza, Suite 1325, San Francisco, California 94111.
Item 3. If This Statement Is Filed Pursuant To Sections 240.13d-1(b) or
---------------------------------------------------------------
240.13d-2(b) or (c), Check Whether The Person Filing Is An Entity
-----------------------------------------------------------------
Specified in (a) - (j):
-----------------------
Not Applicable.
If This Statement Is Filed Pursuant To Section 240.13d-1(c), Check This
-----------------------------------------------------------------------
Box. [X]
--------
Item 4. Ownership
---------
The information required by Items 4(a) - (c) and set forth in Rows 5
through 11 of the cover page for each Reporting Person hereto is incorporated
herein by reference for each such Reporting Person.
Page 21 of 32 Pages
The Shares reported hereby for the Partnerships are owned directly by
the Partnerships and those reported by the Management Company on behalf of the
Managed Accounts are owned directly by the Managed Accounts. The General
Partner, as general partner to the Partnerships, may be deemed to be the
beneficial owner of all such Shares owned by the Partnerships. The Management
Company, as investment adviser to the Managed Accounts, may be deemed to be the
beneficial owner of all such Shares owned by the Managed Accounts. The
Individual Reporting Persons, as managing members of both the General Partner
and/or the Management Company, may each be deemed to be the beneficial owner of
all such Shares held by the Partnerships and the Managed Accounts. Each of the
Management Company, the General Partner and the Individual Reporting Persons
hereby disclaims any beneficial ownership of any such Shares.
Item 5. Ownership Of Five Percent Or Less Of A Class
--------------------------------------------
Not Applicable.
Item 6. Ownership Of More Than Five 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
------------------------------------------------------------
Not Applicable.
Item 8. Identification And Classification Of Members Of The Group
---------------------------------------------------------
The Reporting Persons are filing this Schedule 13G pursuant to
Rule 13d-1(c). Consistent with Item 2 of the cover page for each
Reporting Person above, the Reporting Persons neither disclaim nor
affirm the existence of a group among them.
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 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 22 of 32 Pages
SIGNATURES
----------
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: August 13, 2003
/s/ Monica R. Landry
----------------------------------------
FARALLON PARTNERS, L.L.C.,
on its own behalf and as General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
And TINICUM PARTNERS, L.P.
By Monica R. Landry,
Managing Member
/s/ Monica R. Landry
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Monica R. Landry,
Managing Member
/s/ Monica R. Landry
----------------------------------------
Monica R. Landry, individually and as attorney-in-
fact for each of David I. Cohen, Chun R. Ding,
Joseph F. Downes, William F. Duhamel, Richard B.
Fried, William F. Mellin, Stephen L. Millham,
Derek C. Schrier, Thomas F. Steyer and Mark C.
Wehrly.
The Powers of Attorney, each executed by David I. Cohen, Joseph F.
Downes, William F. Duhamel, Richard B. Fried, William F. Mellin, Stephen L.
Millham, Thomas F. Steyer and Mark C. Wehrly authorizing Monica R. Landry to
sign and file this Schedule 13G on each person's behalf, which were filed with
Amendment No. 2 to the Schedule 13D filed with the Securities and Exchange
Commission on July 16, 2003, by such Reporting Persons with respect to the
Common Stock of New World Restaurant Group, Inc., are hereby incorporated by
reference. The Powers of Attorney executed by each of Chun R. Ding and Derek C.
Schrier authorizing Monica R. Landry to sign and file this Schedule 13G on his
behalf, which was filed with Amendment No. 1 to the Schedule 13D filed with the
Securities and Exchange Commission on July 2, 2003, by such Reporting Person
with respect to the Common Stock of Salix Pharmaceuticals, Ltd., is hereby
incorporated by reference.
Page 23 of 32 Pages
EXHIBIT INDEX
EXHIBIT 1 Power of Attorney granted by Thomas F. Steyer
EXHIBIT 2 Power of Attorney granted by David I. Cohen
EXHIBIT 3 Power of Attorney granted by Joseph F. Downes
EXHIBIT 4 Power of Attorney granted by William F. Duhamel
EXHIBIT 5 Power of Attorney granted by Richard B. Fried
EXHIBIT 6 Power of Attorney granted by Monica R. Landry
EXHIBIT 7 Power of Attorney granted by William F. Mellin
EXHIBIT 8 Power of Attorney granted by Stephen L. Millham
Page 24 of 32 Pages
EXHIBIT 1
to
SCHEDULE 13G
POWER OF ATTORNEY
The undersigned hereby appoints Mark C. Wehrly his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto each said attorney-in-fact and agent, full power and authority
to do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that each said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Mark C. Wehrly under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: June 30, 2003 By: /s/ Thomas F. Steyer
----------------------
Name: Thomas F. Steyer
Page 25 of 32 Pages
EXHIBIT 2
to
SCHEDULE 13G
POWER OF ATTORNEY
The undersigned hereby appoints Mark C. Wehrly his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto each said attorney-in-fact and agent, full power and authority
to do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that each said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Mark C. Wehrly under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: June 30, 2003 By: /s/ David I. Cohen
--------------------
Name: David I. Cohen
Page 26 of 32 Pages
EXHIBIT 3
to
SCHEDULE 13G
POWER OF ATTORNEY
The undersigned hereby appoints Mark C. Wehrly his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto each said attorney-in-fact and agent, full power and authority
to do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that each said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Mark C. Wehrly under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: June 30, 2003 By: /s/ Joseph F. Downes
----------------------
Name: Joseph F. Downes
Page 27 of 32 Pages
EXHIBIT 4
to
SCHEDULE 13G
POWER OF ATTORNEY
The undersigned hereby appoints Mark C. Wehrly his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto each said attorney-in-fact and agent, full power and authority
to do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that each said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Mark C. Wehrly under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: June 30, 2003 By: /s/ William F. Duhamel
--------------------------
Name: William F. Duhamel
Page 28 of 32 Pages
EXHIBIT 5
to
SCHEDULE 13G
POWER OF ATTORNEY
The undersigned hereby appoints Mark C. Wehrly his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto each said attorney-in-fact and agent, full power and authority
to do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that each said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Mark C. Wehrly under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: June 30, 2003 By: /s/ Richard B. Fried
-----------------------
Name: Richard B. Fried
Page 29 of 32 Pages
EXHIBIT 6
to
SCHEDULE 13G
POWER OF ATTORNEY
The undersigned hereby appoints Mark C. Wehrly her true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in her individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto each said attorney-in-fact and agent, full power and authority
to do and perform each and every act and thing which she might or could do in
person, hereby ratifying and confirming all that each said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Mark C. Wehrly under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: June 30, 2003 By: /s/ Monica R. Landry
----------------------
Name: Monica R. Landry
Page 30 of 32 Pages
EXHIBIT 7
to
SCHEDULE 13G
POWER OF ATTORNEY
The undersigned hereby appoints Mark C. Wehrly his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto each said attorney-in-fact and agent, full power and authority
to do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that each said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Mark C. Wehrly under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: June 30, 2003 By: /s/ William F. Mellin
-----------------------
Name: William F. Mellin
Page 31 of 32 Pages
EXHIBIT 8
to
SCHEDULE 13G
POWER OF ATTORNEY
The undersigned hereby appoints Mark C. Wehrly his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto each said attorney-in-fact and agent, full power and authority
to do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that each said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Mark C. Wehrly under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: July 2, 2003 By: /s/ Stephen L. Millham
------------------------
Name: Stephen L. Millham
Page 32 of 32 Pages