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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)
TRANSMONTAIGNE INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
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(Title of Class of Securities)
893934109
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(CUSIP Number)
HERBERT THORNHILL
MORGAN STANLEY
2000 WESTCHESTER AVENUE, ONE SOUTH C
PURCHASE, NY 10577
(914) 225-5542
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
MAY 8, 2006
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(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of ss.ss.240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box. [_]
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See
ss.240.13d-7 for other parties to whom copies are to be sent.
* 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 disclosures provided in a prior cover page.
The information required on 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. 893934109
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
MORGAN STANLEY
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2. Check the Appropriate Box if a Member of a Group (See
Instructions)
(a) |_|
(b) |X|
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3. SEC Use Only
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4. Source of Funds (See Instructions)
BK, OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant
to Items 2(d) or 2(e)
|X|
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6. Citizenship or Place of Organization
DELAWARE
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NUMBER OF
SHARES 7. Sole Voting Power
BENEFICIALLY
OWNED BY EACH
REPORTING -0-
PERSON WITH
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8. Shared Voting Power
5,542,775
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9. Sole Dispositive Power
-0-
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10. Shared Dispositive Power
5,544,775
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
5,544,775 (SEE ITEMS 4 AND 5)
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12. Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
|_|
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
10.07% (SEE ITEM 5)
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14. Type of Reporting Person (See Instructions)
HC, CO
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Cusip No. 893934109
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
MORGAN STANLEY CAPITAL GROUP INC.
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2. Check the Appropriate Box if a Member of a Group (See
Instructions)
(a) |_|
(b) |X|
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3. SEC Use Only
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4. Source of Funds (See Instructions)
BK, OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant
to Items 2(d) or 2(e)
|X|
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6. Citizenship or Place of Organization
DELAWARE
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NUMBER OF
SHARES 7. Sole Voting Power
BENEFICIALLY
OWNED BY EACH
REPORTING -0-
PERSON WITH
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8. Shared Voting Power
5,500,000
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9. Sole Dispositive Power
-0-
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10. Shared Dispositive Power
5,500,000
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
5,500,000 (SEE ITEMS 4 AND 5)
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12. Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
|_|
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13. Percent of Class Represented by Amount in Row (11)
9.99% (SEE ITEM 5)
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14. Type of Reporting Person (See Instructions)
CO
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Cusip No. 893934109
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
MORGAN STANLEY & CO. INCORPORATED
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2. Check the Appropriate Box if a Member of a Group (See
Instructions)
(a) |_|
(b) |X|
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3. SEC Use Only
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4. Source of Funds (See Instructions)
BK, OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant
to Items 2(d) or 2(e)
|X|
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6. Citizenship or Place of Organization
DELAWARE
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NUMBER OF
SHARES 7. Sole Voting Power
BENEFICIALLY
OWNED BY EACH
REPORTING -0-
PERSON WITH
----------------------------------------------------------------
8. Shared Voting Power
400
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9. Sole Dispositive Power
-0-
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10. Shared Dispositive Power
400
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
400 (SEE ITEM 5)
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12. Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
|_|
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
0.00% (SEE ITEM 5)
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14. Type of Reporting Person (See Instructions)
CO
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Cusip No. 893934109
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
MORGAN STANLEY DW INC.
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2. Check the Appropriate Box if a Member of a Group (See
Instructions)
(a) |_|
(b) |X|
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3. SEC Use Only
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4. Source of Funds (See Instructions)
BK, OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant
to Items 2(d) or 2(e)
|X|
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6. Citizenship or Place of Organization
DELAWARE
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NUMBER OF
SHARES 7. Sole Voting Power
BENEFICIALLY
OWNED BY EACH
REPORTING -0-
PERSON WITH
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8. Shared Voting Power
42,375
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9. Sole Dispositive Power
-0-
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10. Shared Dispositive Power
44,375
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
44,375 (SEE ITEM 5)
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12. Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
|_|
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13. Percent of Class Represented by Amount in Row (11)
0.09% (SEE ITEM 5)
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14. Type of Reporting Person (See Instructions)
CO
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ITEM 1. SECURITY AND ISSUER
This Amendment No. 3 to Schedule 13D relates to the Common Stock, par
value $0.01 per share (the "Common Stock"), of TransMontaigne Inc., a Delaware
corporation (the "Company"). The principal executive offices of the Company are
located at 1670 Broadway, Suite 3100, Denver, Colorado 80202. Morgan Stanley
("MS"), Morgan Stanley Capital Group Inc. ("MSCGI"), Morgan Stanley & Co.
Incorporated ("MS&Co."), and Morgan Stanley DW Inc. ("MSDW", and, together with
MS, MSCGI, and MS&Co., the "Reporting Persons") hereby amend the Schedule 13D
originally filed on January 10, 2005 and amended on March 22, 2006 and April 26,
2006.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 is hereby amended by adding the following:
On May 8, 2006, MSCGI sent the following letter to the Company's board of
directors:
[MSCGI Letterhead]
May 8, 2006
Mr. Donald H. Anderson
Vice Chairman, President, and CEO
TransMontaigne Inc.
1670 Broadway, Ste. 3100
Denver, CO 80202
U.S.A.
Dear Don:
We are pleased to submit to you our formal binding offer for the
acquisition of all of the outstanding shares of TransMontaigne, Inc.
by means of a merger in which stockholders of TransMontaigne
("TransMontaigne") would receive $10.50 cash per TransMontaigne share.
Our offer is not subject to any due diligence or financing condition,
and we are not aware of any type of regulatory impediment to a
transaction. We believe this offer, which delivers better value and
less conditionality than the transaction with SemGroup, is clearly a
superior proposal as contemplated by the existing merger agreement
(the "SemGroup Agreement") by and among SemGroup, L.P., SemGroup
Subsidiary Holding, L.L.C. ("SemGroup"), TMG Acquisition Company and
TransMontaigne.
This letter constitutes a binding, irrevocable offer to enter into the
attached merger agreement, which we have signed. If by 8:00 p.m.
Denver time on Monday, May 8, 2006 (the "Initial Expiration Time"),
the Board of Directors of TransMontaigne has delivered to SemGroup the
notice contemplated by Section 6.04(d)(i) of the SemGroup Agreement,
then this offer will expire at 5:00 p.m. Denver time on Friday, May
12, 2006 unless previously accepted by TransMontaigne by execution and
delivery to us of the attached merger
agreement, together with the schedules and attachments thereto. If the
Board of Directors has not delivered such notice by the Initial
Expiration Time, this offer will terminate at the Initial Expiration
Time.
This offer and our other agreements set forth in this letter shall be
governed by and construed in accordance with the laws of the State of
Delaware without regard to the conflicts of laws principles thereof.
Sincerely yours,
/s/ John Shapiro
John Shapiro
President
Morgan Stanley Capital Group Inc.
The letter was accompanied by an agreement and plan of merger executed by MSCGI.
This agreement is attached hereto as Exhibit 2.
Subsequently, on May 8, 2006, the Company informed us that it had sent
to SemGroup, L.P. the written notice contemplated under Section 6.04(d) of the
Agreement and Plan of Merger dated as of March 27, 2006, between, among others,
the Company and SemGroup, L.P., notifying SemGroup, L.P. of the Company's intent
to terminate said agreement in order to enter into an agreement with respect to
the proposal described above.
* * * *
The Reporting Persons may at any time, or from time to time, acquire
additional shares of Common Stock or dispose of their shares of Common Stock,
propose, pursue, or choose not to pursue the transaction described in the above
letter; change the terms of the transaction described in the above letter,
including the price, conditions, or scope of the transaction; take any action in
or out of the ordinary course of business to facilitate or increase the
likelihood of consummation of the transaction described in the above letter;
otherwise seek control or seek to influence the management and policies of the
Company; or change their intentions with respect to any such matters. In
connection with the proposed transaction, the Reporting Persons are considering
other transactions with respect to the Company and its assets, including without
limitation financing transactions or sales of assets to the Company's affiliated
master limited partnership or third parties.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1 Joint Filing Agreement dated May 8, 2006 between MS, MSCGI,
MS&Co, and MSDW.
Exhibit 2 Agreement and Plan of Merger, dated as of May 12, 2006,
between MSCGI, Buffalo Merger Sub Inc., and the Company,
executed by MSCGI and Buffalo Merger Sub Inc.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: May 8, 2006
MORGAN STANLEY
/s/ Dennine Bullard
------------------------------------
Name: Dennine Bullard
Title: Authorized Signatory
MORGAN STANLEY CAPITAL GROUP INC.
/s/ Robert P. Kinney
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Name: Robert P. Kinney
Title: Vice President
MORGAN STANLEY & CO. INCORPORATED
/s/ Dennine Bullard
------------------------------------
Name: Dennine Bullard
Title: Authorized Signatory
MORGAN STANLEY DW INC.
/s/ Kirk Wickman
------------------------------------
Name: Kirk Wickman
Title: Managing Director, General
Counsel and Secretary
SCHEDULE A
EXECUTIVE OFFICERS AND DIRECTORS
OF
MORGAN STANLEY
The names of the directors and the names and titles of the executive
officers of Morgan Stanley ("MS") and their principal occupations are set forth
below. The business address of each of the directors or executive officers is
that of MS at 1585 Broadway, New York, New York 10036. Unless otherwise
indicated, each occupation set forth opposite an individual's name refers to MS
and each individual is a United States citizen.
NAME TITLE
*John J. Mack Chairman of the Board and Chief Executive Officer
*Roy J. Bostock Chairman of the Partnership for a Drug-Free America
*Erskine B. Bowles President-Elect of the University of North Carolina
*Sir Howard J. Davies(1) Director, The London School of Economics and
Political Science
*C. Robert Kidder Principal of Stonehenge Partners, Inc.
*Donald T. Nicolaisen Director
*Charles H. Noski Director
*Hutham S. Olayan President, Chief Executive Officer and Director of
Olayan America Corporation
*O. Griffith Sexton Adjunct professor of finance at Columbia Business
School
*Laura D'Andrea Tyson Dean of the London Business School
*Klaus Zumwinkel(2) Chairman of the Board of Management of Deutsche
Post AG
Walid Chammah Head of Investment Banking
Jonathan Chenevix-Trench(3) Chairman, Morgan Stanley International
Zoe Cruz Co-President
Thomas Daula Chief Risk Officer
James P. Gorman President and COO, Global Wealth Management Group
David Heleniak Vice Chairman
Roger C. Hochschild President and COO, Discover Financial Services
Jerker Johansson(4) Co-Head of Institutional Sales and Trading
Gary G. Lynch Chief Legal Officer
Alasdair Morrison(5) Chairman and CEO, Morgan Stanley Asia
Eileen Murray Head of Global Operations and Technology
David W. Nelms Chairman and CEO, Discover Financial Services
Thomas Nides Chief Administrative Officer and Secretary
Robert W. Scully Co-President
Neal Shear Co-Head of Institutional Sales and Trading
David H. Sidwell Executive Vice President and Chief Financial
Officer
Cordell Spencer(6) Deputy Head of Investment Banking
Owen D. Thomas President and COO, Investment Management
1 Sir Howard Davies is an English citizen
2 Klaus Zumwinkel is a German citizen
3 Jonathan Chenevix-Trench is an English citizen
4 Jerker Johansson is a Swedish citizen
5 Alasdair Morrison is an English citizen
6 Cordell Spencer is a Canadian citizen
* Director
SCHEDULE B
EXECUTIVE OFFICERS AND DIRECTORS
OF
MORGAN STANLEY CAPITAL GROUP, INC
The names of the directors and the names and titles of the executive
officers of Morgan Stanley Capital Group, Inc ("MSCGI") and their principal
occupations are set forth below. The business address of each of the directors
or executive officers is that of MSCGI at 2000 Westchester Avenue, Floor 01,
Purchase, NY 10577. Unless otherwise indicated, each occupation set forth
opposite an individual's name refers to MSCGI and each individual is a United
States citizen.
NAME TITLE
*John A. Shapiro Chairman and President
G. William Brown Vice President
Colin Bryce Vice President
Kenneth Carlino Vice President
Benjamin Cross Vice President
Michael H. Drury Vice President
Simon T.W. Greenshields Vice President
Deborah L. Hart Vice President
Nancy A. King Vice President
Robert P. Kinney Vice President
Christopher Marmo Vice President
Stephen P. Mettler Vice President
*Philip V. Newcomb Vice President
*Mary Lou Peters Vice President
Ian Henry Franklin Potter Vice President
Olav N. Refvik Vice President
Brian J. Armstrong Treasurer
William F. McCoy Secretary
* Director
SCHEDULE C
EXECUTIVE OFFICERS AND DIRECTORS
OF
MORGAN STANLEY & CO. INCORPORATED
The names of the directors and the names and titles of the executive
officers of Morgan Stanley & Co. Incorporated ("MS&Co.") and their principal
occupations are set forth below. The business address of each of the directors
or executive officers is that of MS&Co. at 1585 Broadway, New York, New York
10036. Unless otherwise indicated, each occupation set forth opposite an
individual's name refers to MS&Co. and each individual is a United States
citizen.
NAME PRESENT PRINCIPAL OCCUPATION
*Walid A. Chammah Managing Director of MS&Co. and Head of Investment
Banking of MS
*Charles Chasin Managing Director of MS&Co. and Chief of Staff to the
Co-Presidents of MS
*Zoe Cruz Managing Director, Chief Executive Officer and
President of MS&Co. and Co-President of MS
*Richard Portogallo Managing Director of MS&Co. and Head of U.S. Equity
Division of MS
*Neal A. Shear Managing Director of MS&Co. and Co-Head of
Institutional Sales and Trading of MS
*Cordell G. Spencer Managing Director of MS&Co. and Deputy Head of
Investment Banking of MS
John H. Faulkner Managing Director, General Counsel and Secretary of
MS&Co.
Paul C. Wirth Managing Director and Chief Financial Officer of
MS&Co. and Controller and Principal Accounting
Officer of MS
Jill W. Ostergaard Managing Director and Chief Compliance Officer of
MS&Co.
David K. Wong Treasurer of MS&Co.
Alexander C. Frank Chief Operations Officer of MS&Co.
* Director
SCHEDULE D
EXECUTIVE OFFICERS AND DIRECTORS
OF
MORGAN STANLEY DW INC.
The names of the directors and the names and titles of the executive
officers of Morgan Stanley DW Inc. ("MSDW") and their principal occupations are
set forth below. The business address of each of the directors or executive
officers is that of MSDW at 2000 Westchester Avenue, Floor 01, Purchase, NY
10577. Unless otherwise indicated, each occupation set forth opposite an
individual's name refers to MSDW and each individual is a United States citizen.
NAME PRESENT PRINCIPAL OCCUPATION
*James P. Gorman President, Chief Executive Officer, Chief Operating
Officer, Managing Director
*Shelley S. Hanan Managing Director
*Raymond A. Harris Managing Director
*Kirk Wickman Managing Director, General Counsel and Secretary
Jeffrey L. Adams Managing Director
Ian Bernstein Managing Director
Michael A. Burke, Sr. Managing Director
Ronald T. Carman Managing Director and Assistant Secretary
Noland Cheng Managing Director
Michael R. Durbin Managing Director
Jeffrey A. Gelfand Managing Director, Controller and Chief Financial
Officer
Scott R. Graflund Managing Director
Thomas K. Harms Managing Director
Donald A. Herrema Managing Director
Henry E. Kaplan Managing Director
Douglas J. Ketterer Managing Director
Steven G. Magee Managing Director
William A. McMahon Managing Director
James Mahon Managing Director
Jerry W. Miller Managing Director
Kevin Morano Managing Director
Thomas P. O'Brien Managing Director
Michelle B. Oroschakoff Chief Compliance Officer
Daniel Petrozzo Managing Director
Andrew M. Saperstein Managing Director
Richard A. Skae Managing Director
Sririam Subramaniam Managing Director
George D. Sullivan Managing Director
Jeffrey S. Swartz Managing Director
Todd R. Taylor Managing Director
Chris Van Aeken Managing Director
David K. Wong Treasurer
* Director