SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
CABOT CORPORATION
(Name of Issuer)
COMMON STOCK, PAR VALUE $1.00 PER SHARE
(Title of Class of Securities)
127055101
(CUSIP Number)
SPO Advisory Corp.
591 Redwood Highway, Suite 3215
Mill Valley, California 94941
(415) 383-6600
with a copy to:
Alison S. Ressler
Sullivan & Cromwell LLP
1888 Century Park East
Los Angeles, California 90067-1725
(310) 712-6600
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 15, 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 |_|.
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.
*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).
Page 2 of 20 pages
CUSIP No. 127055101
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
SPO Partners II, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
8,297,600 (1)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
8,297,600 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,297,600 (1)
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.08%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(1) Power is exercised through its sole general partner, SPO Advisory Partners,
L.P.
Page 3 of 20 pages
CUSIP No. 127055101
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
SPO Advisory Partners, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
8,297,600 (1)(2)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
8,297,600 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,297,600 (1)(2)
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.08%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(1) Solely in its capacity as the sole general partner of SPO Partners II, L.P.
(2) Power is exercised through its sole general partner, SPO Advisory Corp.
Page 4 of 20 pages
CUSIP No. 127055101
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
San Francisco Partners II, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
309,400 (1)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
309,400 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
309,400 (1)
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.49%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(1) Power is exercised through its sole general partner, SF Advisory Partners,
L.P.
Page 5 of 20 pages
CUSIP No. 127055101
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
SF Advisory Partners, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
309,400 (1)(2)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
309,400 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
309,400 (1)(2)
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.49%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(1) Solely in its capacity as the sole general partner of San Francisco
Partners II, L.P.
(2) Power is exercised through its sole general partner, SPO Advisory Corp.
Page 6 of 20 pages
CUSIP No. 127055101
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
SPO Advisory Corp.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
8,607,000 (1)(2)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
8,607,000 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,607,000 (1)(2)
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.57%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
(1) Solely in its capacity as the sole general partner of SPO Advisory
Partners, L.P. with respect to 8,297,600 of such shares; and
solely in its capacity as the sole general partner of SF Advisory
Partners, L.P. with respect to 309,400 of such shares.
(2) Power is exercised through its three controlling persons, John H. Scully,
William E. Oberndorf and William J. Patterson.
Page 7 of 20 pages
CUSIP No. 127055101
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
John H. Scully
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
-0-
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By 8,607,000 (1)
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
8,607,000 (1)
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,607,000 (1)
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.57%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
(1) These shares may be deemed to be beneficially owned by Mr. Scully solely
in his capacity as one of three controlling persons of SPO Advisory Corp.
Page 8 of 20 pages
CUSIP No. 127055101
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
William E. Oberndorf
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
-0-
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By 9,050,650 (1)
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
9,050,650 (1)
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,050,650 (1)
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.27%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
(1) Of these shares, 8,607,000 shares may be deemed to be beneficially owned by
Mr. Oberndorf solely in his capacity as one of the three controlling persons of
SPO Advisory Corp., 333,650 shares may be deemed to be beneficially owned by Mr.
Oberndorf solely in his capacity as a trustee of the William and Susan Oberndorf
Trust, dated 10/19/98, 100,000 shares may be deemed to be beneficially owned
by Mr. Oberndorf solely in his capacity as sole general partner of Oberndorf
Family Partners, a California limited partnership, and 10,000 shares are owned
by Mr. Oberndorf solely in his capacity as trustee for the account of his
children.
Page 9 of 20 pages
CUSIP No. 127055101
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
William and Susan Oberndorf Trust, dated 10/19/98
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
333,650 (1)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
333,650 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
333,650 (1)
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.53%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
(1) Power is exercised through its trustees, William E. Oberndorf and Susan C.
Oberndorf.
Page 10 of 20 pages
CUSIP No. 127055101
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Oberndorf Family Partners
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
100,000 (1)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
100,000 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000 (1)
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.16%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(1) Power is exercised through its sole general partner, William E. Oberndorf.
Page 11 of 20 pages
CUSIP No. 127055101
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
William J. Patterson
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
-0-
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By 8,607,000 (1)
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
8,607,000 (1)
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,607,000 (1)
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.57%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
(1) These shares may be deemed to be beneficially owned by Mr. Patterson solely
in his capacity as one of three controlling persons of SPO Advisory Corp.
Page 12 of 20 pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Betty Jane Weimer
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
5,000
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
5,000
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.01%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 13 of 20 pages
This Amendment No. 6 amends the Schedule 13D (the "Original 13D") filed
with the Securities and Exchange Commission ("SEC") on August 29, 2005 and as
amended on September 14, 2005, September 26, 2005, October 20, 2005, November 8,
2005 and January 12, 2006. Unless otherwise stated herein, the Original 13D, as
previously amended, remains in full force and effect. Terms used herein and not
defined herein shall have the meanings ascribed thereto in the Original 13D.
ITEM 2. IDENTITY AND BACKGROUND
Item 2(a) is hereby amended and restated in its entirety as follows:
"The undersigned hereby file this Schedule 13D Statement on behalf of
SPO Partners II, L.P., a Delaware limited partnership ("SPO"), SPO Advisory
Partners, L.P., a Delaware limited partnership ("SPO Advisory Partners"), San
Francisco Partners II, L.P., a California limited partnership ("SFP"), SF
Advisory Partners, L.P., a Delaware limited partnership ("SF Advisory
Partners"), SPO Advisory Corp., a Delaware corporation ("SPO Advisory Corp."),
John H. Scully ("JHS"), William E. Oberndorf ("WEO"), William J. Patterson
("WJP"), the William and Susan Oberndorf Trust, dated 10/19/98 ("Oberndorf
Trust"), Oberndorf Family Partners, a California limited partnership ("OFP"),
and Betty Jane Weimer ("BJW"). SPO, SPO Advisory Partners, SFP, SF Advisory
Partners, SPO Advisory Corp., JHS, WEO, WJP, the Oberndorf Trust, OFP and BJW
are sometimes hereinafter referred to as the "Reporting Persons." The Reporting
Persons are making this single, joint filing because they may be deemed to
constitute a "group" within the meaning of Section 13(d)(3) of the Securities
Exchange Act of 1934, as amended (the "Act"), although neither the fact of this
filing nor anything contained herein shall be deemed to be an admission by the
Reporting Persons that a group exists."
The following subsections are hereby added to Item 2(b)-(c) in
appropriate alphabetical order as follows:
"BJW
"BJW's business address is 591 Redwood Highway, Suite 3215, Mill
Valley, California 94941. She is retired."
Page 14 of 20 pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is hereby amended and restated in its entirety as follows:
The source and amount of the funds used or to be used by the Reporting
Persons to purchase Shares are as follows:
NAME SOURCE OF FUNDS AMOUNT OF FUNDS
- --------------------- --------------------------- ---------------
SPO Contributions from Partners $266,984,142
SPO Advisory Partners Not Applicable Not Applicable
SFP Contributions from Partners $10,038,218
SF Advisory Partners Not Applicable Not Applicable
SPO Advisory Corp. Not Applicable Not Applicable
JHS Not Applicable Not Applicable
WEO Personal Funds (1) $373,188
WJP Not Applicable Not Applicable
Oberndorf Trust Personal Funds (1) $12,237,424
OFP Contribution from Partners $ 3,635,448
BJW Personal Funds (1) $ 186,594
- ----------
(1) As used herein, the term "Personal Funds" includes sums borrowed from banks
and brokerage firm margin accounts, none of which were borrowed or otherwise
obtained for the specified purpose of acquiring, holding, trading or voting
Shares.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and restated in its entirety as follows:
(a) Percentage interest calculations for each Reporting Person are
based upon the Issuer having 63,421,612 total outstanding shares of Common Stock
as reported on the Issuer's 10-Q filed with the Securities and Exchange
Commission on May 10, 2006.
SPO
The aggregate number of Shares that SPO owns beneficially, pursuant to
Rule 13d-3 of the Act, is 8,297,600 Shares, which constitutes approximately
13.08% of the outstanding Shares.
SPO Advisory Partners
Because of its position as the sole general partner of SPO, SPO
Advisory Partners may, pursuant to Rule 13d-3 of the Act, be deemed to be the
beneficial owner of 8,297,600 Shares, which constitutes approximately 13.08%
of the outstanding Shares.
Page 15 of 20 pages
SFP
The aggregate number of Shares that SFP owns beneficially, pursuant to
Rule 13d-3 of the Act, is 309,400 Shares, which constitutes approximately
0.49% of the outstanding Shares.
SF Advisory Partners
Because of its position as the sole general partner of SFP, SF Advisory
Partners may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial
owner of 309,400 Shares, which constitutes approximately 0.49% of the
outstanding Shares.
SPO Advisory Corp.
Because of its positions as the sole general partner of each of SPO
Advisory Partners and SF Advisory Partners, SPO Advisory Corp. may, pursuant to
Rule 13d-3 of the Act, be deemed to be the beneficial owner of 8,607,000
Shares in the aggregate, which constitutes approximately 13.57% of the
outstanding Shares.
JHS
Because of his position as a control person of SPO Advisory Corp., JHS
may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of
8,607,000 Shares, which constitutes approximately 13.57% of the outstanding
Shares.
WEO
Individually, and because of his positions as a control person of SPO
Advisory Corp., a trustee of the Oberndorf Trust and sole general partner of OFP
and as trustee for the account of his children, WEO may, pursuant to Rule 13d-3
of the Act, be deemed to be the beneficial owner of 9,050,650 Shares in the
aggregate, which constitutes approximately 14.27% of the outstanding Shares.
WJP
Because of his position as a control person of SPO Advisory Corp., WJP
may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of
8,607,000 Shares, which constitutes approximately 13.57% of the outstanding
Shares.
Oberndorf Trust
The aggregate number of Shares that the Oberndorf Trust owns
beneficially, pursuant to Rule 13d-3 of the Act, is 333,650 Shares, which
constitutes approximately 0.53% of the outstanding Shares.
OFP
The aggregate number of Shares that OFP owns beneficially, pursuant to
Rule 13d-3 of the Act, is 100,000 Shares, which constitutes approximately 0.16%
of the outstanding Shares.
BJW
The aggregate number of Shares that BJW owns beneficially, pursuant to
Rule 13d-3 of the Act, is 5,000 Shares, which constitutes approximately 0.01% of
the outstanding Shares.
Page 16 of 20 pages
To the best of the knowledge of each of the Reporting Persons, other
than as set forth above, none of the persons named in Item 2 hereof is the
beneficial owner of any Shares.
(b) SPO
Acting through its sole general partner, SPO has the sole power to vote
or to direct the vote and to dispose or to direct the disposition of 8,297,600
Shares.
SPO Advisory Partners
Acting through its sole general partner and in its capacity as the sole
general partner of SPO, SPO Advisory Partners has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 8,297,600
Shares.
SFP
Acting through its sole general partner, SFP has the sole power to vote
or to direct the vote and to dispose or to direct the disposition of 309,400
Shares.
SF Advisory Partners
Acting through its sole general partner and in its capacity as the sole
general partner of SFP, SF Advisory Partners has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 309,400 Shares.
SPO Advisory Corp.
Acting through its controlling persons and in its capacities as the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
SPO Advisory Corp. has the sole power to vote or to direct the vote and to
dispose or to direct the disposition of 8,607,000 Shares in the aggregate.
JHS
As one of three controlling persons of SPO Advisory Corp., which is the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
JHS may be deemed to have shared power with WEO and WJP to vote or to direct the
vote and to dispose or to direct the disposition of 8,607,000 Shares held by
SPO and SFP in the aggregate.
WEO
As one of three controlling persons of SPO Advisory Corp., which is the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
WEO may be deemed to have shared power with JHS and WJP to vote or to direct the
vote and to dispose or to direct the disposition of 8,607,000 Shares held by SPO
and SFP in the aggregate. WEO may be deemed to have shared power to vote or to
direct the vote and to dispose or to direct the disposition of 333,650 Shares
held in the Oberndorf Trust. Individually, and because of his position as the
sole general partner of OFP, WEO has the sole power to vote or to direct the
vote and to dispose or to direct the disposition of 100,000 Shares held by OFP.
Solely in his capacity as trustee for the account of his children, WEO has the
sole power to vote or to direct the vote and to dispose or to direct the
disposition of 10,000 shares owned by his children.
WJP
As one of three controlling persons of SPO Advisory Corp., which is the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
WJP may be deemed to have shared power with JHS and WEO to vote or to direct the
vote and to dispose or to direct the disposition of 8,607,000 Shares held by
SPO and SFP in the aggregate.
Page 17 of 20 pages
Oberndorf Trust
Acting through its trustees, Oberndorf Trust has the sole power to vote
or to direct the vote and to dispose or to direct the disposition of 333,650
Shares in the aggregate.
OFP
OFP has the sole power to vote or to direct the vote and to dispose or
to direct the disposition of 100,000 Shares.
BJW
BJW has the sole power to vote or to direct the vote and to dispose or
to direct the disposition of 5,000 Shares.
(c) During the past 60 days, the Reporting Persons purchased Shares in
open market transactions as set forth on Schedule I attached hereto.
Except as set forth in this paragraph (c), to the best of the knowledge
of each of the Reporting Persons, none of the persons named in response to
paragraph (a) has effected any transactions in Shares during the past 60 days.
(d) Each of the Reporting Persons affirms that no person other than
such Reporting Person has the right to receive or the power to direct the
receipt of distributions with respect to, or the proceeds from the sale of,
Shares owned by such Reporting Person.
(e) Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Item 7 is hereby amended and restated in its entirety as follows:
Exhibit A: Agreement pursuant to Rule 13d-1(k)
Exhibit B: Power of Attorney
Page 18 of 20 pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated June 19, 2006 By: /s/ Kim M. Silva
--------------------------------
Kim M. Silva
Attorney-in-Fact for:
SPO PARTNERS II, L.P.(1)
SPO ADVISORY PARTNERS, L.P.(1)
SAN FRANCISCO PARTNERS II, L.P.(1)
SF ADVISORY PARTNERS, L.P.(1)
SPO ADVISORY CORP.(1)
JOHN H. SCULLY(1)
WILLIAM E. OBERNDORF(1)
WILLIAM J. PATTERSON(1)
WILLIAM AND SUSAN OBERNDORF TRUST,
DATED 10/19/98 (1)
OBERNDORF FAMILY PARTNERS (1)
BETTY JANE WEIMER (2)
(1) A Power of Attorney
authorizing Kim M. Silva to
act on behalf of this
person or entity has been previously
filed with the Securities and
Exchange Commission.
(2) A Power of Attorney authorizing
Kim M. Silva to act on behalf of
this person or entity is filed as
Exhibit B.
Page 19 of 20 pages
SCHEDULE I TO SCHEDULE 13D
DATE OF PRICE PER WHERE/HOW TRANSACTION
REPORTING PERSON TRANSACTION TYPE NUMBER OF SHARES SHARE ($) EFFECTED
- --------------------- ----------- ---- ---------------- --------- ---------------------
SPO Partners II, L.P. 6/13/06 Buy 100 31.67 Open Market/Broker
SPO Partners II, L.P. 6/13/06 Buy 2,100 31.68 Open Market/Broker
SPO Partners II, L.P. 6/13/06 Buy 3,500 31.68 Open Market/Broker
SPO Partners II, L.P. 6/13/06 Buy 40,600 31.69 Open Market/Broker
SPO Partners II, L.P. 6/13/06 Buy 107,500 31.70 Open Market/Broker
SPO Partners II, L.P. 6/14/06 Buy 100 31.69 Open Market/Broker
SPO Partners II, L.P. 6/14/06 Buy 71,000 31.70 Open Market/Broker
SPO Partners II, L.P. 6/14/06 Buy 1,900 31.85 Open Market/Broker
SPO Partners II, L.P. 6/14/06 Buy 100 31.86 Open Market/Broker
SPO Partners II, L.P. 6/14/06 Buy 200 31.87 Open Market/Broker
SPO Partners II, L.P. 6/14/06 Buy 500 31.88 Open Market/Broker
SPO Partners II, L.P. 6/14/06 Buy 900 31.89 Open Market/Broker
SPO Partners II, L.P. 6/14/06 Buy 67,700 31.90 Open Market/Broker
SPO Partners II, L.P. 6/14/06 Buy 9,800 31.90 Open Market/Broker
SPO Partners II, L.P. 6/15/06 Buy 343,000 32.50 Open Market/Broker
Page 20 of 20 pages
EXHIBIT INDEX
EXHIBIT DOCUMENT DESCRIPTION PAGE NO.
- ------- ------------------------------------ --------
A Agreement Pursuant to Rule 13d-1(k) 1
B Power of Attorney 2
EXHIBIT A
Pursuant to Rule 13d-1(k) of Regulation 13D-G of the General Rules and
Regulations of the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended, the undersigned agrees that the statement to
which this Exhibit is attached is filed on behalf of each of them in the
capacities set forth below.
Dated June 19, 2006 By: /s/ Kim M. Silva
--------------------------------
Kim M. Silva
Attorney-in-Fact for:
SPO PARTNERS II, L.P.(1)
SPO ADVISORY PARTNERS, L.P.(1)
SAN FRANCISCO PARTNERS II, L.P.(1)
SF ADVISORY PARTNERS, L.P.(1)
SPO ADVISORY CORP.(1)
JOHN H. SCULLY(1)
WILLIAM E. OBERNDORF(1)
WILLIAM J. PATTERSON(1)
WILLIAM AND SUSAN OBERNDORF TRUST,
DATED 10/19/98 (1)
OBERNDORF FAMILY PARTNERS (1)
BETTY JANE WEIMER (2)
(1) A Power of Attorney
authorizing Kim M. Silva to
act on behalf of this
person or entity has been previously
filed with the Securities and
Exchange Commission.
(2) A Power of Attorney authorizing
Kim M. Silva to act on behalf of
this person or entity is filed as
Exhibit B.
EXHIBIT B
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that Betty Jane Weimer (a "Grantor") has
made, constituted and appointed, and by these presents do make, constitute and
appoint, each of William E. Oberndorf and Kim M. Silva (each an "Attorney"), the
true and lawful agent and attorney-in-fact, with full power of substitution and
resubstitution, of the Grantor, for and in Grantor's name, place and stead, in
any and all capacities, to do all or any of the following acts, matters and
things:
1. To sign on behalf of the Grantor statements on Schedule 13D or 13G or
Forms 3, 4 and 5, or amendments thereto pursuant to Section 13(d) or
Section 16 under the Securities Exchange Act of 1934.
2. To do all such other acts and things as, in such Attorney's
discretion, he or she deems appropriate or desirable for the purpose
of filing such statements on Schedule 13D or 13G or Forms 3, 4 and 5,
or amendments thereto.
3. To appoint in writing one or more substitutes who shall have the power
to act on behalf of the Grantor as if that substitute or those
substitutes shall have been originally appointed Attorney (s) by this
Power of Attorney and/or to revoke any such appointment at any time
without assigning any reason therefor.
The Grantor hereby ratifies and confirms all that said agents and
attorneys-in-fact or any substitute or substitutes may lawfully do or cause to
be done by virtue hereof. This Power of Attorney shall remain in full force and
effect until the undersigned is no longer required to file Forms 3, 4 and 5 or
to file reports under Section 13(d) of the Securities Exchange Act of 1934 with
respect to the undersigned's holdings of and transactions in securities issued
by Cabot Corporation, unless earlier revoked by the undersigned in a signed
writing delivered to the foregoing attorneys-in-fact.
The words Grantor and Attorney shall include all grantors and attorneys under
this Power of Attorney.
[Signatures on the Following Pages.]
IN WITNESS WHEREOF, each Grantor duly assents to this Power of Attorney
by his, her or its signature as of the 19th day of June, 2006.
By: /s/ Betty Jane Weimer
------------------------------
Name: Betty Jane Weimer