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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 2)*
Packaging Corporation of America
-----------------------------------------------------
(Name of Issuer)
common stock
-----------------------------------------------------
(Title of Class of Securities)
695156109
-----------------------------------------------------
(CUSIP Number)
December 31, 2004
-----------------------------------------------------
(Date of Event Which requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[X] Rule 13d-1(b)
[_] Rule 13d-(c)
[_] Rule 13d-1(d)
----------
*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).
Page 1 of 10 Pages
CUSIP No. 695156109 Schedule 13G Page 2 of 10 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Iridian Asset Management LLC
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 5,514,057
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 5,514,057
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,514,057
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.2%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
IA
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 695156109 Schedule 13G Page 3 of 10 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
The Governor and Company of the Bank of Ireland
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Ireland
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 5,514,057
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 5,514,057
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,514,057
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.2%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
CO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 695156109 Schedule 13G Page 4 of 10 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
IBI Interfunding
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Ireland
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 5,514,057
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 5,514,057
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,514,057
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.2%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
CO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 695156109 Schedule 13G Page 5 of 10 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
BancIreland/First Financial, Inc.
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
New Hampshire
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 5,514,057
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 5,514,057
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,514,057
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.2%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
CO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 695156109 Schedule 13G Page 6 of 10 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
BIAM (US) Inc.
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 5,514,057
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 5,514,057
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,514,057
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.2%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
CO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 695156109 SCHEDULE 13G Page 7 of 10 Pages
This Amendment amends in its entirety the Schedule 13G previously filed for the
month ended December 31, 2003.
________________________________________________________________________________
Item 1(a). Name of Issuer:
Packaging Corporation of America
________________________________________________________________________________
Item 1(b). Address of Issuer's Principal Executive Offices:
1900 West Field Court
Lake Forest, Illinois 60045
________________________________________________________________________________
Item 2.
(a) Name of Person Filing.
This Statement is being filed by and on behalf of Iridian Asset Management LLC
("Iridian"), The Governor and Company of the Bank of Ireland (the "Bank of
Ireland"), IBI Interfunding ("IBI"), BancIreland/First Financial, Inc.
("BancIreland"), and BIAM (US) Inc. (collectively, the "Reporting Persons").
(b) Address of Principal Business Office:
The principal business address of Iridian is 276 Post Road West, Westport, CT
06880-4704.
The principal business address of Bank of Ireland and IBI is Head Office, Lower
Baggot Street, Dublin 2, Ireland.
The principal business address of BancIreland and BIAM (US) Inc. is Liberty Park
#15, 282 Route 101, Amherst, NH 03110.
(c) Citizenship or Place of Organization:
Iridian is a limited liability company. Bank of Ireland and IBI are Ireland
corporations. BancIreland is a New Hampshire corporation. BIAM (US) Inc. is a
Delaware corporation.
d) Title of Class of Securities:
This Statement relates to the shares of common stock, $.01 par value, of
Packaging Corporation of America.
(e) CUSIP Number: The CUSIP number is 695156109.
CUSIP No. 695156109 SCHEDULE 13G Page 8 of 10 Pages
_______________________________________________________________________________
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), Check Whether the Person Filing is a:
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) [_] Investment company registered under Section 8 of the Investment
Company Act.
(e) [X] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [X] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. [_]
_______________________________________________________________________________
Item 4. Ownership.
(a) and (b). Amount Beneficially Owned and Percent of Class:
As of the date of this Statement, the Reporting Persons beneficially owned in
the aggregate 5,514,057 shares of Common Stock which equates to approximately
5.2% of the outstanding shares (the percentage of shares of Common Stock owned
being based upon 106,952,434 shares of Common Stock outstanding at November 1,
2004 as set forth in the Issuer's Quarterly Report on Form 10-Q for the quarter
ended September 30, 2004).
Iridian has direct beneficial ownership of the shares of Common Stock in the
accounts for which it serves as the investment adviser under its investment
management agreements.
BIAM (US) Inc., as the controlling member of Iridian, may be deemed to possess
beneficial ownership of the shares of Common Stock beneficially owned by
Iridian. BancIreland, as the sole shareholder of BIAM (US) Inc. may be deemed to
possess beneficial ownership of the shares of Common Stock beneficially owned by
BIAM (US) Inc. IBI, as the sole shareholder of BancIreland, may be deemed to
possess beneficial ownership of the shares of Common Stock beneficially owned by
BancIreland. Bank of Ireland, as the sole shareholder of IBI, may be deemed to
possess beneficial ownership of the shares of Common Stock beneficially owned by
IBI.
As used herein, "beneficial ownership" has the meaning set forth in Rule 13d-3
under the Securities Exchange Act of 1934, as amended.
CUSIP No. 695156109 SCHEDULE 13G Page 9 of 10 Pages
(c) Power to vote or dispose.
Iridian has the direct power to vote or direct the vote, and the direct power to
dispose or direct the disposition, of 5,514,057 shares of Common Stock.
________________________________________________________________________________
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following: ____
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.
The item 3 classification of each Reporting Person is as follows:
Iridian Asset Management LLC is an investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E).
The Governor and Company of the Bank of Ireland is a parent holding company or
control person in accordance with Rule 13d-1(b)(1)(ii)(G).
IBI Interfunding is a parent holding company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G).
BancIreland/First Financial, Inc. is a parent holding company or control person
in accordance with Rule 13d-1(b)(1)(ii)(G).
BIAM (US) Inc. is a parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G).
________________________________________________________________________________
Item 8. Identification and Classification of Members of the Group.
Not Applicable
________________________________________________________________________________
Item 9. Notice of Dissolution of Group.
Not Applicable.
________________________________________________________________________________
Item 10. Certifications.
By signing below the undersigned certifies that, to the best of its or his
knowledge and belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired and are not held
for the purpose of and do not have 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 such purpose or
effect.
CUSIP No. 695156109 SCHEDULE 13-G Page 10 of 10 Pages
SIGNATURE.
After reasonable inquiry and to the best of its or his knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
Date: Februrary 8, 2005
IRIDIAN ASSET MANAGEMENT LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott
Executive Vice President
THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND
By: /s/ John Clifford
----------------------------------
John Clifford
Group Secretary
IBI INTERFUNDING
By: /s/ Peter Nugent
----------------------------------
Peter Nugent
Secretary
BANCIRELAND/FIRST FINANCIAL,INC.
By: /s/ Diane Morrison
----------------------------------
Diane Morrison
Director
BIAM (US) INC.
By: /s/ Diane Morrison
----------------------------------
Diane Morrison
Director
JOINT FILING AGREEMENT
This JOINT FILING AGREEMENT is made and entered into by and among Iridian Asset
Management LLC, The Governor and Company of the Bank of Ireland, IBI
Interfunding, BancIreland/First Financial, Inc., and BIAM (US) Inc.
The parties to this Agreement hereby agree to prepare jointly and file timely
(or otherwise deliver as appropriate) all filings on Schedule 13D and Schedule
13G (the "Filings") required to be filed by them pursunat to Section 13(d) or
13(g) under the Securities Exchange Act of 1934, as amended, with respect to
their respective ownership of any securities of Packaging Corporation of America
that are requireed to be reportd on any Filings. Each party to this Agreement
further agrees and covenants to the other parties that it will fully cooperate
with such other parties in the preparation and timely filing (and other
delivery) of all such Filings.
Date: February 8, 2004
IRIDIAN ASSET MANAGEMENT LLC
By: /s/ Jeffrey M. Elliott
----------------------------------
Jeffrey M. Elliott
Executive Vice President
THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND
By: /s/ John Clifford
----------------------------------
John Clifford
Group Secretary
IBI INTERFUNDING
By: /s/ Peter Nugent
----------------------------------
Peter Nugent
Secretary
BANCIRELAND/FIRST FINANCIAL,INC.
By: /s/ Diane Morrison
----------------------------------
Diane Morrison
Director
BIAM (US) INC.
By: /s/ Diane Morrison
----------------------------------
Diane Morrison
Director