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. 1)* Kadant Inc. ----------------------------------------------------- (Name of Issuer) common stock ----------------------------------------------------- (Title of Class of Securities) 48282T104 ----------------------------------------------------- (CUSIP Number) December 31, 2002 ----------------------------------------------------- (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 13 PagesCUSIP No. 48282T104 Schedule 13G Page 2 of 13 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) [X] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES not applicable _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY not applicable _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING not applicable _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH not applicable ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON not applicable ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) less than 5.0% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* IA ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 48282T104 Schedule 13G Page 3 of 13 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) LC Capital Management, LLC ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES not applicable _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY not applicable _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING not applicable _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH not applicable ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON not applicable ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) less than 5.0% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* HC ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 48282T104 Schedule 13G Page 4 of 13 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) CL Investors, Inc. ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES not applicable _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY not applicable _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING not applicable _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH not applicable ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON not applicable ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) less than 5.0% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* HC ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 48282T104 Schedule 13G Page 5 of 13 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) COLE Partners LLC ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES not applicable _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY not applicable _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING not applicable _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH not applicable ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON not applicable ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) less than 5.0% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* HC ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 48282T104 Schedule 13G Page 6 of 13 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Iridian Partners Fund, L.P. ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES not applicable _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY not applicable _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING not applicable _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH not applicable ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON not applicable ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 5.0% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 48282T104 Schedule 13G Page 7 of 13 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Iridian Investors, L.P. ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES not applicable _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY not applicable _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING not applicable _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH not applicable ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON not applicable ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 5.0% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 48282T104 Schedule 13G Page 8 of 13 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Iridian Private Business Value Equity Fund, L.P. ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES not applicable _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY not applicable _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING not applicable _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH not applicable ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON not applicable ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) less than 5.0% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 48282T104 Schedule 13G Page 9 of 13 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) David L. Cohen ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES not applicable _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY not applicable _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING not applicable _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH not applicable ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON not applicable ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) less than 5.0% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 48282T104 Schedule 13G Page 10 of 13 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Harold J. Levy ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES not applicable _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY not applicable _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING not applicable _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH not applicable ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON not applicable ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) less than 5.0% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G Page 11 of 13 Pages This Amendment No. 1 to Schedule 13G amends in its entirety Schedule 13G previously filed for the month ended december 31, 2001. This Amendment reports a less than 5.0% position (see item 5). _______________________________________________________________________________ Item 1(a). Name of Issuer: Kadant Inc. ________________________________________________________________________________ Item 1(b). Address of Issuer's Principal Executive Offices: 245 Winter Street Waltham, MA 02451 ________________________________________________________________________________ Item 2. (a) Name of Person Filing. This Statement is being filed by and on behalf of Iridian Asset Management LLC ("Iridian"), LC Capital Management, LLC ("LC Capital"), CL Investors, Inc. ("CL Investors"), COLE Partners LLC ("COLE"), Iridian Partners Fund, L.P. ("Iridian Partners"), Iridian Investors, L.P. ("Iridian Investors"), Iridian Private Business Value Equity Fund, L.P. ("Iridian Private Business"), David L. Cohen and Harold J. Levy (collectively, the "Reporting Persons"). (b) Address of Principal Business Office: The Address of Principal Business Office of each of the Reporting Persons is c/o Iridian Asset Management LLC, 276 Post Road West, Westport, CT 06880-4704. (c) Citizenship or Place of Organization: Each of Iridian, LC Capital and COLE is a Delaware limited liability company. CL Investors is a Delaware corporation. Each of Iridian Partners, Iridian Investors and Iridian Private Business is a Delaware limited partnership. Each of David L. Cohen and Harold J. Levy is a citizen of the United States. (d) Title of Class of Securities: This Statement relates to the shares of common stock, $.01 par value, of ICN Pharmaceuticals, Inc. (e) CUSIP Number: The CUSIP number is 48282T104. ________________________________________________________________________________ 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) [_] 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) [_] 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) [X] 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. [_]
SCHEDULE 13G Page 12 of 13 Pages _______________________________________________________________________________ Item 4. Ownership. Not applicable. ________________________________________________________________________________ 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: X ________________________________________________________________________________ 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. This Statement is being filed by and on behalf of the Reporting Persons listed in item 2. ________________________________________________________________________________ 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.
SCHEDULE 13-G Page 13 of 13 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: February 11, 2003 IRIDIAN ASSET MANAGEMENT LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President LC CAPITAL MANAGEMENT, LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President CL INVESTORS, INC. By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, President COLE PARTNERS LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President IRIDIAN PARTNERS FUND, L.P. By: COLE PARTNERS LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President IRIDIAN INVESTORS, L.P. By: COLE PARTNERS LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President IRIDIAN PRIVATE BUSINESS VALUE EQUITY FUND, L.P. By: COLE PARTNERS LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President By: /s/ David L. Cohen ---------------------------------- David L. Cohen, individually By: /s/ Harold J. Levy ---------------------------------- Harold J. Levy, individually
JOINT FILING AGREEMENT AMONG IRIDIAN ASSET MANAGEMENT LLC, LC CAPITAL MANAGEMENT, LLC, CL INVESTORS, INC., COLE PARTNERS LLC, IRIDIAN PARTNERS FUND, L.P., IRIDIAN INVESTORS, L.P., IRIDIAN PRIVATE BUSINESS VALUE EQUITY FUND, L.P., DAVID L. COHEN AND HAROLD J. LEVY AGREEMENT between Iridian Asset Management LLC ("Iridian"), LC Capital Management, LLC ("LC Capital"), CL Investors, Inc. ("CL Investors"), COLE Partners LLC ("COLE"), Iridian Partners Fund, L.P. ("Iridian Partners"), Iridian Investors, L.P. ("Iridian Investors") Iridian Private Business Value Equity Fund, L.P. ("Iridian Private Business"), David L. Cohen ("Cohen") and Harold J. Levy ("Levy"). WHEREAS, in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934 (the "Act"), only one statement containing the information required by Schedule 13G and any amendments thereto need be filed whenever two or more persons are required to file such a statement or any amendments thereto with respect to the same securities, provided that said persons agree in writing that such statement or any amendment thereto is filed on behalf of them. NOW, THEREFORE, in consideration of the premises and mutual agreements contained herein, the parties hereto agree as follows: Iridian, LC Capital, CL Investors, COLE, Iridian Partners, Iridian Investors, Iridian Private Business, Cohen and Levy, do hereby agree, in accordance with Rule 13d-1(k) under the Act, to file a Schedule 13G and any amendments thereto, relating to their ownership of the common stock of Kadant Inc. and do hereby further agree that said Schedule 13G shall be filed on behalf of each of them. Date: February 11, 2003 IRIDIAN ASSET MANAGEMENT LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President LC CAPITAL MANAGEMENT, LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President CL INVESTORS, INC. By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, President COLE PARTNERS LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President IRIDIAN PARTNERS FUND, L.P. By: COLE PARTNERS LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President IRIDIAN INVESTORS, L.P. By: COLE PARTNERS LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President IRIDIAN PRIVATE BUSINESS VALUE EQUITY FUND, L.P. By: COLE PARTNERS LLC By: /s/ Jeffrey M. Elliott ---------------------------------- Jeffrey M. Elliott, Executive Vice President /s/ David L. Cohen ---------------------------------- David L. Cohen, individually /s/ Harold J. Levy ---------------------------------- Harold J. Levy, individually