UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
USG CORPORATION
----------------
(Name of Issuer)
Common Stock, $0.10 par value
------------------------------
(Title of Class of Securities)
903293405
--------------
(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:
[ ] 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).
-------------------------------------------- ------------------------------------------
CUSIP No. 903293405 13G Page 2 of 9 Pages
------------------------------ ------------ ---------
-------------------------------------------- ------------------------------------------
---------- -----------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D. E. Shaw Laminar Portfolios, L.L.C. - (IRS Identification No. 01-0577802)
---------- -----------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
---------- -----------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- -----------------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ------------------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED
BY
EACH
REPORTING
PERSON
WITH
----- ------------------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
2,839,800
----- ------------------------------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----- ------------------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,839,800
---------- -----------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,839,800
---------- -----------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
---------- -----------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.6%
---------- -----------------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
---------- -----------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
-------------------------------------------- ------------------------------------------
CUSIP No. 903293405 13G Page 3 of 9 Pages
------------------------------ ------------ ---------
-------------------------------------------- ------------------------------------------
---------- -----------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D. E. Shaw & Co., L.P. - (IRS Identification No. 13-3695715)
---------- -----------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
---------- -----------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- -----------------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ------------------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED
BY
EACH
REPORTING
PERSON
WITH
------ ------------------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
2,839,800
------ ------------------------------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,839,800
---------- -----------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,839,800
---------- -----------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
---------- -----------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.6%
---------- -----------------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA, PN
---------- -----------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
-------------------------------------------- ------------------------------------------
CUSIP No. 903293405 13G Page 4 of 9 Pages
------------------------------ ------------ ---------
-------------------------------------------- ------------------------------------------
---------- -----------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D. E. Shaw & Co., L.L.C. - (IRS Identification No. 13-3799946)
---------- -----------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
---------- -----------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- -----------------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ------------------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED
BY
EACH
REPORTING
PERSON
WITH
------ ------------------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
2,839,800
------ ------------------------------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,839,800
---------- -----------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,839,800
---------- -----------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
---------- -----------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.6%
---------- -----------------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- -----------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
-------------------------------------------- ------------------------------------------
CUSIP No. 903293405 13G Page 5 of 9 Pages
------------------------------ ------------ ---------
-------------------------------------------- ------------------------------------------
---------- -----------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David E. Shaw
---------- -----------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
---------- -----------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- -----------------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ------------------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED
BY
EACH
REPORTING
PERSON
WITH
------ ------------------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
2,839,800
------ ------------------------------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,839,800
---------- -----------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,839,800
---------- -----------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
---------- -----------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.6%
---------- -----------------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- -----------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
ITEM 1(A) NAME OF ISSUER:
--------------
USG Corporation
ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
-----------------------------------------------
125 S. Franklin Street
Department 188
Chicago, IL 60606
ITEM 2(A) NAME OF PERSON FILING:
D. E. Shaw Laminar Portfolios, L.L.C.
D. E. Shaw & Co., L.P.
D. E. Shaw & Co., L.L.C.
David E. Shaw
ITEM 2(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The business address for all filers is:
120 W. 45th Street, Tower 45, 39th Floor
New York, NY 10036
ITEM 2(C) CITIZENSHIP:
D. E. Shaw Laminar Portfolios, L.L.C. is a limited liability company organized
under the laws of the state of Delaware.
D. E. Shaw & Co., L.P. is a limited partnership organized under the laws of
the state of Delaware.
D. E. Shaw & Co., L.L.C. is a limited liability company organized under the
laws of the state of Delaware.
David E. Shaw is a citizen of the United States of America.
ITEM 2(D) TITLE OF CLASS OF SECURITIES:
Common Stock, $0.10 par value (the "Shares")
ITEM 2(E) CUSIP NUMBER:
903293405
ITEM 3 Not Applicable
ITEM 4 OWNERSHIP:
As of the close of business on December 31, 2004:
(a) Amount beneficially owned:
D. E. Shaw Laminar Portfolios, L.L.C.: 2,839,800 Shares
D. E. Shaw & Co., L.P.: 2,839,800 Shares
D. E. Shaw & Co., L.L.C.: 2,839,800 Shares
David E. Shaw: 2,839,800 Shares
(b) Percent of class:
D. E. Shaw Laminar Portfolios, L.L.C.: 6.6%
D. E. Shaw & Co., L.P.: 6.6%
D. E. Shaw & Co., L.L.C.: 6.6%
David E. Shaw: 6.6%
(c) Number of Shares to which the person has:
(i) Sole power to vote or to direct the vote:
D. E. Shaw Laminar Portfolios, L.L.C.: -0-
D. E. Shaw & Co., L.P.: -0-
D. E. Shaw & Co., L.L.C.: -0-
David E. Shaw: -0-
(ii) Shared power to vote or to direct the vote:
D. E. Shaw Laminar Portfolios, L.L.C.: 2,839,800 Shares
D. E. Shaw & Co., L.P.: 2,839,800 Shares
D. E. Shaw & Co., L.L.C.: 2,839,800 Shares
David E. Shaw: 2,839,800 Shares
(i) Sole power to dispose or to direct the
disposition of:
D. E. Shaw Laminar Portfolios, L.L.C.: -0-
D. E. Shaw & Co., L.P.: -0-
D. E. Shaw & Co., L.L.C.: -0-
David E. Shaw: -0-
(ii) Shared power to dispose or to direct
the disposition of:
D. E. Shaw Laminar Portfolios, L.L.C.: 2,839,800 Shares
D. E. Shaw & Co., L.P.: 2,839,800 Shares
D. E. Shaw & Co., L.L.C.: 2,839,800 Shares
David E. Shaw: 2,839,800 Shares
David Shaw does not own any Shares directly. By virtue of David Shaw's
position as President and sole shareholder of D. E. Shaw & Co., Inc., which is
the general partner of D. E. Shaw & Co., L.P., which in turn is the investment
adviser of D. E. Shaw Laminar Portfolios, L.L.C., and by virtue of David
Shaw's position as President and sole shareholder of D. E. Shaw & Co. II,
Inc., which is the managing member of D. E. Shaw & Co., L.L.C., which in turn
is the managing member of D. E. Shaw Laminar Portfolios, L.L.C., David Shaw
may be deemed to have the shared power to vote or direct the vote of, and the
shared power to dispose or direct the disposition of, the 2,839,800 Shares
owned by D. E. Shaw Laminar Portfolios, L.L.C., constituting 6.6% of the
outstanding Shares and, therefore, David Shaw may be deemed to be the
beneficial owner of such Shares. David Shaw disclaims beneficial ownership of
such 2,839,800 Shares.
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. / /
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:
Not Applicable
ITEM 9 NOTICE OF DISSOLUTION OF GROUP:
Not Applicable
ITEM 10 CERTIFICATION:
By signing below, each of D. E. Shaw Laminar Portfolios, L.L.C., D. E. Shaw &
Co., L.P., D. E. Shaw & Co., L.L.C., and David Shaw certify that, to the best
of such reporting person's 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 such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete, and correct. Powers of Attorney, dated February 24, 2004 granted
by David E. Shaw in favor of Stuart Steckler, are attached hereto.
Dated: February 14, 2005
D. E. Shaw Laminar Portfolios, L.L.C.
By: D. E. Shaw & Co., L.L.C., as
managing member
By:/s/ Stuart Steckler
-------------------
Stuart Steckler
Managing Director
D. E. Shaw & Co., L.P.
By: /s/ Stuart Steckler
-------------------
Stuart Steckler
Managing Director
D. E. Shaw & Co., L.L.C.
By: /s/ Stuart Steckler
-------------------
Stuart Steckler
Managing Director
David E. Shaw
By: /s/ Stuart Steckler
-------------------
Stuart Steckler
Attorney-in-Fact for David E. Shaw
EXHIBIT 1
POWER OF ATTORNEY
FOR CERTAIN FILINGS
UNDER THE SECURITIES EXCHANGE ACT OF 1934
I, David E. Shaw, hereby make, constitute and appoint each of:
Anne Dinning,
Julius Gaudio,
Lou Salkind,
Stuart Steckler, and
Eric Wepsic,
acting individually, as my agent and attorney-in-fact, with full power of
substitution, for the purpose of, from time to time, executing in my name and/or
my capacity as President of D. E. Shaw & Co., Inc. (acting for itself or as the
general partner of D. E. Shaw & Co., L. P. and general partner or managing
member of other entities, any which in turn may be acting for itself or other
entities) all documents, certificates, instruments, statement, other filings,
and amendments to the forgoing (collectively, "documents") determined by such
person to be necessary or appropriate to comply with ownership or control-person
reporting requirements imposed by any United States or non-United States
governmental or regulatory authority, including without limitation Forms 3, 4,
5, 13D, 13F, and 13G required to be filed with the Securities and Exchange
Commission; and delivering, furnishing or filing any such documents with the
appropriate governmental or regulatory authority. Any such determination shall
be conclusively evidenced by such person's execution, delivery, furnishing,
and/or filing of the applicable document.
This power of attorney shall be valid from the date hereof and replaces the
power granted on February 5, 2001, which is hereby cancelled.
IN WITNESS HEREOF, I have executed this instrument as of the date set forth
below.
Date: February 24, 2004
DAVID E. SHAW, as President of
D. E. Shaw & Co., Inc.
/s/David E. Shaw
New York, New York
POWER OF ATTORNEY
FOR CERTAIN FILINGS
UNDER THE SECURITIES EXCHANGE ACT OF 1934
I, David E. Shaw, hereby make, constitute and appoint each of:
Anne Dinning,
Julius Gaudio,
Lou Salkind,
Stuart Steckler, and
Eric Wepsic,
acting individually, as my agent and attorney-in-fact, with full power of
substitution, for the purpose of, from time to time, executing in my name and/or
my capacity as President of D. E. Shaw & Co. II, Inc. (acting for itself and as
the managing member of D. E. Shaw & Co., L.L.C., which in turn may be acting for
itself or as the managing member of other companies) all documents,
certificates, instruments, statement, other filings and amendments to the
forgoing (collectively, "documents") determined by such person to be necessary
or appropriate to comply with ownership or control-person reporting requirements
imposed by any United States or non-United States governmental or regulatory
authority, including without limitation Forms 3, 4, 5, 13D, 13F and 13G required
to be filed with the Securities and Exchange Commission; and delivering,
furnishing or filing any such documents with the appropriate governmental or
regulatory authority. Any such determination shall be conclusively evidenced by
such person's execution and delivery, furnishing or filing of the applicable
document.
This power of attorney shall be valid from the date hereof and replaces the
power granted on February 5, 2001, which is hereby cancelled.
IN WITNESS HEREOF, I have executed this instrument as of the date set forth
below.
Date: February 24, 2004
DAVID E. SHAW, as President of
D. E. Shaw & Co. II, Inc.
/s/David E. Shaw
New York, New York