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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(AMENDMENT NO. 25)
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THE LIMITED, INC.
(Name of Issuer)
COMMON STOCK, $0.50 PAR VALUE 532716-10-7
- ------------------------------ --------------
(Title of class of securities) (CUSIP number)
RAYMOND O. GIETZ, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153
(212) 310-8000
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(Name, address and telephone number of person authorized to receive notices and
communications)
JANUARY 3, 2001
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(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 Rules 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [_].
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CUSIP No. 532716-10-7 13D Page 2
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1 NAME OF REPORTING PERSON: Leslie H. Wexner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
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NUMBER OF 7 SOLE VOTING POWER: 64,714,894
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 11,442,144
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 65,822,418
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 11,442,144
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 77,264,562
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [X]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 18.1%
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14 TYPE OF REPORTING PERSON: IN
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SEE INSTRUCTIONS BEFORE FILLING OUT!
2
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CUSIP No. 532716-10-7 13D Page 3
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1 NAME OF REPORTING PERSON: Abigail S. Wexner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
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NUMBER OF 7 SOLE VOTING POWER: -0-
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 10,005,510
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: -0-
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 10,005,510
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 10,005,510
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [X]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 2.4%
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14 TYPE OF REPORTING PERSON: IN
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SEE INSTRUCTIONS BEFORE FILLING OUT!
3
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CUSIP No. 532716-10-7 13D Page 4
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1 NAME OF REPORTING PERSON: The Wexner Foundation
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Ohio
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NUMBER OF 7 SOLE VOTING POWER: 736,634
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: -0-
OWNED BY
------ ----------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 736,634
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: -0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 736,634
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.2%
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14 TYPE OF REPORTING PERSON: OO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
4
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CUSIP No. 532716-10-7 13D Page 5
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1 NAME OF REPORTING PERSON: Health and Science Interests II
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Ohio
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NUMBER OF 7 SOLE VOTING POWER: 700,000
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: -0-
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 700,000
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: -0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 700,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.2%
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14 TYPE OF REPORTING PERSON: OO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
5
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CUSIP No. 532716-10-7 13D Page 6
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1 NAME OF REPORTING PERSON: The Wexner Children's Trust
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Ohio
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NUMBER OF 7 SOLE VOTING POWER: 21,499,700
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: -0-
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 21,499,700
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: -0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 21,499,700
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 5.1%
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14 TYPE OF REPORTING PERSON: OO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
6
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CUSIP No. 532716-10-7 13D Page 7
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1 NAME OF REPORTING PERSON: ASW Holdings, Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 31-1654943
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [_]
PURSUANT TO ITEM 2(d) OR 2(e):
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
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NUMBER OF 7 SOLE VOTING POWER: -0-
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: -0-
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: -0-
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: -0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: -0-
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.0%
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14 TYPE OF REPORTING PERSON: CO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
7
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CUSIP No. 532716-10-7 13D Page 8
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1 NAME OF REPORTING PERSON: Wexner Children Holdings
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Ohio
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NUMBER OF 7 SOLE VOTING POWER: 10,000,000
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: -0-
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 10,000,000
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: -0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 10,000,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 2.3%
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14 TYPE OF REPORTING PERSON: OO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
8
This Amendment No. 25 amends the Schedule 13D dated June 25,
1985, as amended in certain respects by Amendments No. 1 through 24 thereto, and
is filed by Leslie H. Wexner, for and on behalf of himself, Abigail S. Wexner,
The Wexner Foundation, Health and Science Interests II, The Wexner Children's
Trust, ASW Holdings, Inc., and Wexner Children Holdings (collectively, the
"Purchasers"), with respect to the common stock, $0.50 par value per share (the
"Common Stock"), of The Limited, Inc. (the "Company").
Item 2. Identity and Background.
-----------------------
Item 2 is amended as follows:
On January 3, 2001, Leslie H. Wexner transferred 10,000,000
shares of Common Stock to his wife, Abigail S. Wexner, without consideration in
exchange. On January 4, 2001, Mrs. Wexner contributed these shares to Wexner
Children Holdings, a trust organized under the laws of Ohio, without
consideration in exchange.
The principal business of Wexner Children Holdings is
investments. The address of the principal office of Wexner Children Holdings is
6525 West Campus Oval, Suite 105, New Albany, Ohio 43054. The trustees of Wexner
Children Holdings are Abigail S. Wexner and Jeffrey E. Epstein.
Information required by Item 2 of Schedule 13D with respect to
Jeffrey E. Epstein has been reported previously.
The business address of Abigail S. Wexner is The Limited,
Inc., Three Limited Parkway, Columbus, Ohio 43216. Mrs. Wexner is a director of
The Limited, Inc. The Limited, Inc. is principally engaged in the purchase,
distribution and sale of women's and men's apparel, women's intimate apparel,
and personal care products. The address of The Limited, Inc. is Three Limited
Parkway, Columbus, Ohio 43216. Mrs. Wexner is also: a director of the Children's
Defense Fund; the Chairperson of the Governing Committee of The Columbus
Foundation; and a member of the Boards of Trustees of Children's Hospital, Inc.
and The Columbus Academy in Columbus, Ohio. Mrs. Wexner is a citizen of the
United States of America.
During the last five years neither Abigail S. Wexner nor
Wexner Children Holdings has been (i) convicted of any criminal proceeding
(excluding traffic violations or similar misdemeanors) or (ii) a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to federal or state securities laws or finding any violation
with respect to such laws.
An agreement among the Purchasers with respect to the filing
of this statement is attached hereto as Exhibit 1.
Item 5. Interest in Securities of the Issuer.
------------------------------------
(a) The responses of the Purchasers to Rows (11) through (13)
of the cover pages of this Amendment No. 25 are incorporated herein by
reference. As of January 5, 2001, the Purchasers beneficially owned the number
shares of the Common Stock listed below, representing approximately the
percentage of the outstanding shares of Common Stock set forth opposite such
9
number (the outstanding shares of Common Stock, 425,703,144, being based on the
number of shares outstanding as of November 24, 2000 as reported in the
Company's Form 10-Q for the quarterly period ended October 28, 2000).
Percent
Person Number of Shares of Class
------------------- ------------------------- --------
1. Leslie H. Wexner 77,264,562 (1)(3)(4)(5)(6) 18.1%
2. Abigail S. Wexner 10,005,510 (2)(8) 2.4%
3. The Wexner Foundation 736,634 (3) 0.2%
4. Health and Science Interests II 700,000 (4) 0.2%
5. The Wexner Children's Trust 21,499,700 (5) 5.1%
6. ASW Holdings, Inc. 0 (6) 0.0%
7. Wexner Children Holdings 10,000,000 (7) 2.3%
------------------------------
1. Includes: 1,107,524 shares held in The Limited, Inc. Savings and
Retirement Plan for Mr. Wexner's account (as of December 31, 2000) over
which he exercises dispositive but not voting control; and 1,911,558
shares issuable within 60 days upon exercise of outstanding options
held by Mr. Wexner. Also includes 10,005,510 shares beneficially owned
by Abigail S. Wexner, Mr. Wexner's wife, as to which Mr. Wexner may be
deemed to share the power to vote and direct the disposition. Excludes
400,000 shares held in a trust of which Mrs. Wexner is a beneficiary
and as to which Mr. Wexner disclaims beneficial ownership.
2. Includes 3,165 shares issuable within 60 days upon exercise of
outstanding options held by Mrs. Wexner. The power to vote or direct
the disposition of the shares beneficially owned by Mrs. Wexner may be
deemed to be shared with her husband, Leslie H. Wexner. Excludes
400,000 shares held in a trust of which Mrs. Wexner is a beneficiary
and as to which Mrs. Wexner disclaims beneficial ownership. Also
excludes 67,259,052 shares beneficially owned by Leslie H. Wexner, Mrs.
Wexner's husband, as to which Mrs. Wexner disclaims beneficial
ownership.
3. Power to vote or direct the disposition of the 736,634 shares held by
The Wexner Foundation may be deemed to be shared by Leslie H. Wexner
and Jeffrey E. Epstein, as the trustees thereof. Leslie H. Wexner and
Jeffrey E. Epstein disclaim beneficial ownership of the shares held by
The Wexner Foundation.
4. Power to vote or direct the disposition of the 700,000 shares held by
Health and Science Interests II may be deemed to be shared by Leslie H.
Wexner and Jeffrey E. Epstein as trustees thereof. Leslie H. Wexner and
Jeffrey E. Epstein disclaim beneficial ownership of shares held by
Health and Science Interests II.
5. Power to vote or direct the disposition of the 21,499,700 shares held
by Leslie H. Wexner as the sole trustee of The Wexner Children's Trust.
10
6. Power to vote or direct the disposition of the shares held by ASW
Holdings, Inc. may be deemed to be shared by ASW Holdings, Inc. with
Leslie H. Wexner, by reason of his rights as the settlor of the trust
that holds 100% of the outstanding capital stock of ASW Holdings, Inc.
7. Power to vote or direct the disposition of the 10,000,000 shares held
by Wexner Children Holdings may be deemed to be shared by Abigail S.
Wexner and Jeffrey E. Epstein, as trustees of such trust.
(b) The responses of the Purchasers to (i) Rows (7) through
(10) of the cover pages of this Amendment No. 25 and (ii) Item 5(a) hereof are
incorporated herein by reference.
(c) In addition to the transactions described in Item 2 and
Item 6 of this Amendment No. 25 (which are hereby incorporated herein by
reference), during the past 60 days the Purchasers effected the following
transactions in the Common Stock:
Date of Amount of Price per Where and
Person Transaction Securities Share How Effected
------ ----------- ---------- ----- ------------
ASW Holdings, Inc. 11/20/00 3,499,400 shares $24.125 NYSE (sale)
The Wexner Children's 11/20/00 600 shares $24.125 NYSE (sale)
Trust
(d), (e): Not Applicable
Item 6. Contracts, Arrangements, Understandings or Relationships With
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Respect to Securities of the Issuer.
------------------------------------
On January 3, 2001, The Wexner Children's Trust distributed
10,000,000 shares of Common Stock to Leslie H. Wexner without consideration in
exchange. See Item 2 of this Amendment No. 25 to Schedule 13D, which is
incorporated herein by reference.
Item 7. Materials to be Filed as Exhibits.
---------------------------------
Exhibit 1 Joint Filing Agreement by and among Leslie H. Wexner,
Abigail S. Wexner, The Wexner Foundation, Health and
Science Interests II, The Wexner Children's Trust, ASW
Holdings, Inc., and Wexner Children Holdings, dated
January 8, 2001.
11
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: January 8, 2001
Leslie H. Wexner
-------------------------------------------------------
Leslie H. Wexner
Abigail S. Wexner
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Abigail S. Wexner
THE WEXNER FOUNDATION
By: Darren K. Indyke
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Darren K. Indyke, Secretary
HEALTH AND SCIENCE INTERESTS II
By: Jeffrey E. Epstein
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Jeffrey E. Epstein, Trustee
THE WEXNER CHILDREN'S TRUST
By: Leslie H. Wexner
--------------------------------------------------
Leslie H. Wexner, Trustee
ASW HOLDINGS, INC.
By: Jeffrey E. Epstein
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Jeffrey E. Epstein, President
WEXNER CHILDREN HOLDINGS
By: Jeffrey E. Epstein
--------------------------------------------------
Jeffrey E. Epstein, Trustee
12
EXHIBIT INDEX
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Exhibit No.
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Exhibit 1 Joint Filing Agreement by and among Leslie H. Wexner,
Abigail S. Wexner, The Wexner Foundation, Health and
Science Interests II, The Wexner Children's Trust, ASW
Holdings, Inc., and Wexner Children Holdings, dated
January 8, 2001.
13
Exhibit 1
JOINT FILING AGREEMENT
This will confirm the agreement by and among all the
undersigned that the Schedule 13D filed on or about this date and any amendments
thereto with respect to beneficial ownership by the undersigned of shares of the
common stock, par value $0.50 per share, of The Limited, Inc. is being filed on
behalf of each of the undersigned in accordance with Rule 13d-1(k)(1) under the
Securities Exchange Act of 1934. This agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
Dated: January 8, 2001
Leslie H. Wexner
-------------------------------------------------------
Leslie H. Wexner
Abigail S. Wexner
-------------------------------------------------------
Abigail S. Wexner
THE WEXNER FOUNDATION
By: Darren K. Indyke
--------------------------------------------------
Darren K. Indyke, Secretary
HEALTH AND SCIENCE INTERESTS II
By: Jeffrey E. Epstein
--------------------------------------------------
Jeffrey E. Epstein, Trustee
THE WEXNER CHILDREN'S TRUST
By: Leslie H. Wexner
--------------------------------------------------
Leslie H. Wexner, Trustee
ASW HOLDINGS, INC.
By: Jeffrey E. Epstein
--------------------------------------------------
Jeffrey E. Epstein, President
14
WEXNER CHILDREN HOLDINGS
By: Jeffrey E. Epstein
--------------------------------------------------
Jeffrey E. Epstein, Trustee
15
