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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___________)*
Ligand Pharmaceuticals Incorporated
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.001 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
53220K207
--------------------------------------------------------------------------------
(CUSIP Number)
October 28, 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:
|_| Rule 13d-1(b)
|X| Rule 13d-1(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).
(Continued on following pages)
Page 1 of 31 Pages
Exhibit Index Found on Page 30
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 980,361 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
980,361 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
980,361 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
1.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 2 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 860,008 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
860,008 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
860,008 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
1.2% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 3 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 146,923 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
146,923[See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
146,923 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.2% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 4 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 110,111 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
110,111 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
110,111 [See Preliminary Note]
------------====================================================================
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 % [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 5 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
New York
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 37,988 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
37,988 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
37,988 [See Preliminary Note]
------------====================================================================
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% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 6 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
RR 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 17,850 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
17,850 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
17,850 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.0% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 7 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 1,960,186 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
1,960,186 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,960,186 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
2.6% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IA, OO
------------====================================================================
Page 8 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 2,153,241 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
2,153,241 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
2,153,241 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
2.8% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
OO
------------====================================================================
Page 9 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 10 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 11 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 12 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 13 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Charles E. Ellwein
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 14 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 15 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 16 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 17 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 18 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Rajiv A. Patel
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2 ** The reporting persons making this filing may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 19 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 20 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 21 of 31 Pages
13G
===================
CUSIP No. 53220K207
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 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 may be
deemed the beneficial owner of an aggregate of
4,113,427 Shares, which is 5.3% of the class of
securities. The reporting person on this cover page,
however, may be deemed the beneficial owner only of
the securities reported by it on this cover page.
[See Preliminary Note]
------------====================================================================
3 SEC USE ONLY
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
5
NUMBER OF -0-
------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,113,427 [See Preliminary Note]
------------===========================================
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON WITH ------------===========================================
SHARED DISPOSITIVE POWER
8
4,113,427 [See Preliminary Note]
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,113,427 [See Preliminary Note]
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.3% [See Preliminary Note]
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 22 of 31 Pages
Preliminary Note: The Reporting Persons (as defined below) are filing this
Schedule 13G with respect to the Common Stock, par value $0.001 per share (the
"Shares"), of Ligand Pharmaceuticals Incorporated (the "Company"). Certain of
the Reporting Persons own, in aggregate, 711,000 Shares. In addition, certain of
the Reporting Persons own, in aggregate, (i) $18,800,000 principal amount of 6%
Convertible Subordinated Notes due 2007 (the "Convertible Notes") issued by the
Company, each $1,000 principal amount of Convertible Notes immediately
convertible to 161.9905 Shares, and (ii) Warrants (the "Warrants") issued by the
Company to purchase 357,006 Shares. Each Warrant has an exercise price of $10
per Share, is immediately exercisable and has an expiration date of October 6,
2006. If all of such Convertible Notes and Warrants were converted or exercised,
as applicable, the Reporting Persons would own, in aggregate, an additional
3,402,427 Shares for a total of 4,113,427 Shares. All numbers and percentages
contained in this Schedule 13G represent Shares and not Convertible Notes or
Warrants (unless stated otherwise). For information regarding the Convertible
Notes, see the Company's Registration Statement on a Form S-3 filed with the
Securities and Exchange Commission on January 13, 2003, as amended. For
information regarding the Warrants, see the Company's Annual Statement on a Form
10K filed with the Securities and Exchange Commission on March 21, 2003, as
amended.
Item 1. Issuer
------
(a) Name of Issuer:
--------------
Ligand Pharmaceuticals Incorporated (the "Company")
(b) Address of Issuer's Principal Executive Offices:
-----------------------------------------------
10275 Science Center Drive, San Diego, CA, 92121-1117
Page 23 of 31 Pages
Item 2. Identity And Background
-----------------------
Title Of Class Of Securities And CUSIP Number (Item 2(d) and (e))
----------------------------------------------------------------
This statement relates to Shares of the Company (each such term as
defined in the Preliminary Note above). The CUSIP number of the Shares is
53220K207.
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
beneficially owned by it (including through its
ownership of Convertible Notes and/or Warrants);
(ii) Farallon Capital Institutional Partners, L.P., a
California limited partnership ("FCIP"), with respect
to the Shares beneficially owned by it (including
through its ownership of Convertible Notes and/or
Warrants);
(iii) Farallon Capital Institutional Partners II, L.P., a
California limited partnership ("FCIP II"), with
respect to the Shares beneficially owned by it
(including through its ownership of Convertible Notes
and/or Warrants);
(iv) Farallon Capital Institutional Partners III, L.P., a
Delaware limited partnership ("FCIP III"), with
respect to the Shares beneficially owned by it
(including through its ownership of Convertible Notes
and/or Warrants);
(v) Tinicum Partners, L.P., a New York limited
partnership ("Tinicum"), with respect to the Shares
beneficially owned by it (including through its
ownership of Convertible Notes and/or Warrants); and
(vi) RR Capital Partners, L.P., a Delaware limited
partnership ("RR"), with respect to the Shares
beneficially owned by it (including through its
ownership of Convertible Notes and/or Warrants).
FCP, FCIP, FCIP II, FCIP III, Tinicum, and RR are together referred to
herein as the "Partnerships."
Page 24 of 31 Pages
The Management Company
----------------------
(vii) Farallon Capital Management, L.L.C., a Delaware
limited liability company (the "Management Company"),
with respect to the Shares beneficially owned by
certain accounts managed by the Management Company
(the "Managed Accounts") (including through their
ownership of Convertible Notes and/or Warrants).
The General Partner Of The Partnerships
---------------------------------------
(viii) 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 beneficially owned by each
of the Partnerships (including through their
ownership of Convertible Notes and/or Warrants).
The Managing Members Of the General Partner And The Management Company
----------------------------------------------------------------------
(ix) The following persons who are managing members of
both the General Partner and the Management Company,
with respect to the Shares beneficially owned by the
Partnerships and the Managed Accounts (including
through their ownership of Convertible Notes and/or
Warrants): David I. Cohen ("Cohen"), Chun R. Ding
("Ding"), Joseph F. Downes ("Downes"), William F.
Duhamel ("Duhamel"), Charles E. Ellwein ("Ellwein"),
Richard B. Fried ("Fried"), Monica R. Landry
("Landry"), William F. Mellin ("Mellin"), Stephen L.
Millham ("Millham"), Rajiv A. Patel ("Patel"), Derek
C. Schrier ("Schrier"), Thomas F. Steyer ("Steyer")
and Mark C. Wehrly ("Wehrly").
Cohen, Ding, Downes, Duhamel, Ellwein, Fried, Landry, Mellin, Millham,
Patel, 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.
Page 25 of 31 Pages
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.
The Shares reported hereby for the Partnerships are beneficially owned
directly by the Partnerships (including through their ownership of Convertible
Notes and/or Warrants) and those reported by the Management Company on behalf of
the Managed Accounts are beneficially owned directly by the Managed Accounts
(including through their ownership of Convertible Notes and/or Warrants). The
General Partner, as general partner to the Partnerships, may be deemed to be the
beneficial owner of all such Shares beneficially owned by the Partnerships
(including through their ownership of Convertible Notes and/or Warrants). The
Management Company, as investment adviser to the Managed Accounts, may be deemed
to be the beneficial owner of all such Shares beneficially owned by the Managed
Accounts (including through their ownership of Convertible Notes and/or
Warrants). 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 beneficially owned by the Partnerships and
the Managed Accounts (including through their ownership of Convertible Notes
and/or Warrants) . 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.
Page 26 of 31 Pages
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 27 of 31 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: November 8, 2004
/s/ Joseph F. Downes
----------------------------------------
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.,
TINICUM PARTNERS, L.P.,
And RR Capital Partners, L.P.,
By Joseph F. Downes
Managing Member
/s/ Joseph F. Downes
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.
By Joseph F. Downes
Managing Member
/s/ Joseph F. Downes
----------------------------------------
Joseph F. Downes, individually and as attorney-in-fact for
each of David I. Cohen, Chun R. Ding, William F. Duhamel,
Charles E. Ellwein, Richard B. Fried, Monica R. Landry,
William F. Mellin, Stephen L. Millham, Rajiv A. Patel,
Derek C. Schrier, Thomas F. Steyer and Mark C. Wehrly.
The Powers of Attorney, each executed by Cohen, Mellin, Millham and
Steyer authorizing Downes to sign and file this Schedule 13G on each person's
behalf, which were filed with Amendment No. 1 to the Schedule 13D filed with the
Securities and Exchange Commission on January 20, 1998, by such Reporting
Persons with respect to the Units of Spiros Development Corporation II, Inc.,
are hereby incorporated by reference. The Powers of Attorney, each executed by
Duhamel and Fried authorizing Downes to sign and file this Schedule 13G on each
person's behalf, which were filed with Amendment No. 7 to the Schedule 13D filed
with the Securities and Exchange Commission on February 9, 1999 by such
Reporting Persons with respect to the Callable Class A Common Stock of Crescendo
Pharmaceuticals Corporation, are hereby incorporated by reference. The Power of
Attorney executed by Mark C. Wehrly authorizing Downes to sign and file this
Schedule 13G on his behalf, which was filed with Amendment No. 4 to the Schedule
13D filed with the Securities and Exchange Commission on
Page 28 of 31 Pages
January 18, 2000, by such Reporting Person with respect to the Class A Common
Stock of Momentum Business Applications, Inc., is hereby incorporated by
reference. The Power of Attorney executed by Monica R. Landry authorizing Downes
to sign and file this Schedule 13G on her behalf, which was filed with the
Schedule 13G filed with the Securities and Exchange Commission on January 22,
2001, by such Reporting Person with respect to the Common Stock of Korn/Ferry
International, is hereby incorporated by reference. The Powers of Attorney
executed by each of Chun R. Ding and Derek C. Schrier authorizing Downes 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. The Powers of
Attorney executed by each of Charles E. Ellwein and Rajiv A. Patel authorizing
Downes to sign and file this Schedule 13G on his behalf, which was filed with
Amendment No. 4 to the Schedule 13G filed with the Securities and Exchange
Commission on January 8, 2004 by such Reporting Person with respect to the
Common Stock of Catalytica Energy Systems, Inc., is hereby incorporated by
reference.
Page 29 of 31 Pages
EXHIBIT INDEX
EXHIBIT 1 Joint Acquisition Statement Pursuant to
Section 240.13d1(k)
Page 30 of 31 Pages
EXHIBIT 1
to
SCHEDULE 13G
JOINT ACQUISITION STATEMENT
---------------------------
PURSUANT TO SECTION 240.13d-1(k)
--------------------------------
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him, her or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the other entities or persons, except to the extent that he, she or
it knows or has reason to believe that such information is inaccurate.
Dated: November 8, 2004
/s/ Joseph F. Downes
----------------------------------------
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.,
TINICUM PARTNERS, L.P.,
And RR Capital Partners, L.P.,
By Joseph F. Downes,
Managing Member
/s/ Joseph F. Downes
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Joseph F. Downes,
Managing Member
/s/ Joseph F. Downes
----------------------------------------
Joseph F. Downes, individually and as attorney-in-fact for
each of David I. Cohen, Chun R. Ding, William F. Duhamel,
Charles E. Ellwein, Richard B. Fried, Monica R. Landry,
William F. Mellin, Stephen L. Millham, Rajiv A. Patel,
Derek C. Schrier, Thomas F. Steyer and Mark C. Wehrly.
Page 31 of 31 Pages