SEC Info - Third Point LLC, et al. - ‘SC 13D/A’ on 10/31/07 re: Granite Construction Inc

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Third Point LLC, et al. – ‘SC 13D/A’ on 10/31/07 re: Granite Construction Inc

On: Wednesday, 10/31/07, at 5:20pm ET · Accession #: 899140-7-1759 · File #: 5-41411

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

10/31/07  Third Point LLC                   SC 13D/A               1:21K  Granite Construction Inc          Willkie Fa… Gallagher/FA
          Daniel S. Loeb
          Third Point Offshore Fund, Ltd.

Amendment to General Statement of Beneficial Ownership — Sch. 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Third Amendment                                        9     38K

Document Table of Contents

Page	(sequential)	(alphabetic)	↑Top
		Alternative Formats (Word, et al.) Interest in Securities of the Issuer Schedule 13D Source and Amount of Funds or Other Consideration
1	1st Page – Filing Submission
"	Schedule 13D
5	Item 3. Source and Amount of Funds or Other Consideration
"	Item 5. Interest in Securities of the Issuer

SC 13D/A 1st Page of 9 TOC ↑Top Previous Next ↓Bottom Just 1st
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
 (Amendment No. 3)

Under the Securities Exchange Act of 1934*

 Granite Construction Incorporated
--------------------------------------------------------------------------------
(Name of Issuer)

 Common Stock, par value $0.01 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)

 387328107
--------------------------------------------------------------------------------
 (CUSIP Number of Class of Securities)

Daniel S. Loeb
 Third Point LLC
 390 Park Avenue
New York, NY 10022
(212) 224-7400
--------------------------------------------------------------------------------
 (Name, Address and Telephone Number of Person
 Authorized to Receive Notices and Communications)

Copies to:
 Michael A. Schwartz, Esq.
Willkie Farr & Gallagher LLP
787 Seventh Avenue
 New York, NY 10019-6099
(212) 728-8000

October 29, 2007
--------------------------------------------------------------------------------
 (Date of Event which Requires
Filing of this Schedule)

If the filing person has previously filed a statement on Schedule 13G to report 
the acquisition which 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 Rule 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).                                                                         

SC 13D/A 2nd Page of 9 TOC 1st Previous Next ↓Bottom Just 2nd
        SCHEDULE 13D

----------------------------------                      ------------------------
CUSIP No. 387328107                                     Page 2 of 9 Pages       
----------------------------------                      ------------------------

----------- --------------------------------------------------------------------
1       NAME OF REPORTING PERSON                                        
   I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

         Third Point LLC                                  I.D. #13-3922602
----------- --------------------------------------------------------------------
2       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP      (a) [ ]   
                                                           (b) [X]
----------- --------------------------------------------------------------------
3       SEC USE ONLY                                                    
----------- --------------------------------------------------------------------
4       SOURCE OF FUNDS*                                                

AF                                                      
----------- --------------------------------------------------------------------
   5       CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)     [ ]                              
----------- --------------------------------------------------------------------
6       CITIZENSHIP OR PLACE OF ORGANIZATION                            

Delaware                                                
--------------------- --------- ------------------------------------------------
7      SOLE VOTING POWER      

0               
                      --------- ------------------------------------------------
8      SHARED VOTING POWER    
NUMBER OF SHARES                                                                
BERNEFICIALLY OWNED             1,862,100                                       
BY EACH REPORTING     --------- ------------------------------------------------
PERSON WITH              9      SOLE DISPOSITIVE POWER                          

0               
                      --------- ------------------------------------------------
 10     SHARED DISPOSITIVE POWER

1,862,100       
----------- --------------------------------------------------------------------
11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON              

1,862,100                                               
----------- --------------------------------------------------------------------
12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN  
SHARES* [ ]                                             

----------- --------------------------------------------------------------------
13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)              

4.4%                                                    
----------- --------------------------------------------------------------------
14      TYPE OF REPORTING PERSON*                                       

OO                                                      
----------- --------------------------------------------------------------------

SC 13D/A 3rd Page of 9 TOC 1st Previous Next ↓Bottom Just 3rd
        SCHEDULE 13D

----------------------------------                      ------------------------
CUSIP No. 387328107                                     Page 3 of 9 Pages       
----------------------------------                      ------------------------

----------- --------------------------------------------------------------------
1       NAME OF REPORTING PERSON                                        
   I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Daniel S. Loeb                                          
----------- --------------------------------------------------------------------
2       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP      (a) [ ]   
                                                           (b) [X]
----------- --------------------------------------------------------------------
3       SEC USE ONLY                                                    
----------- --------------------------------------------------------------------
4       SOURCE OF FUNDS*                                                

AF                                                      
----------- --------------------------------------------------------------------
   5       CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)     [ ]                              
----------- --------------------------------------------------------------------
6       CITIZENSHIP OR PLACE OF ORGANIZATION                            

United States                                           
--------------------- --------- ------------------------------------------------
7      SOLE VOTING POWER      

0               
                      --------- ------------------------------------------------
8      SHARED VOTING POWER    
NUMBER OF SHARES                                                                
BERNEFICIALLY OWNED             1,862,100                                       
BY EACH REPORTING     --------- ------------------------------------------------
PERSON WITH              9      SOLE DISPOSITIVE POWER                          

0               
                      --------- ------------------------------------------------
 10     SHARED DISPOSITIVE POWER

1,862,100       
----------- --------------------------------------------------------------------
11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON              

1,862,100                                               
----------- --------------------------------------------------------------------
12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN  
SHARES* [ ]                                             

----------- --------------------------------------------------------------------
13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)              

4.4%                                                    
----------- --------------------------------------------------------------------
14      TYPE OF REPORTING PERSON*                                       

IN                                                      
----------- --------------------------------------------------------------------

SC 13D/A 4th Page of 9 TOC 1st Previous Next ↓Bottom Just 4th
        SCHEDULE 13D

----------------------------------                      ------------------------
CUSIP No. 387328107                                     Page 4 of 9 Pages       
----------------------------------                      ------------------------

----------- --------------------------------------------------------------------
1       NAME OF REPORTING PERSON                                        
   I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Third Point Offshore Fund, Ltd.                         
----------- --------------------------------------------------------------------
2       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP      (a) [ ]   
                                                           (b) [X]
----------- --------------------------------------------------------------------
3       SEC USE ONLY                                                    
----------- --------------------------------------------------------------------
4       SOURCE OF FUNDS*                                                

AF                                                      
----------- --------------------------------------------------------------------
   5       CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)     [ ]                              
----------- --------------------------------------------------------------------
6       CITIZENSHIP OR PLACE OF ORGANIZATION                            

Cayman Islands                                          
--------------------- --------- ------------------------------------------------
7      SOLE VOTING POWER      

0               
                      --------- ------------------------------------------------
8      SHARED VOTING POWER    
NUMBER OF SHARES                                                                
BERNEFICIALLY OWNED             1,239,600                                       
BY EACH REPORTING     --------- ------------------------------------------------
PERSON WITH              9      SOLE DISPOSITIVE POWER                          

0               
                      --------- ------------------------------------------------
 10     SHARED DISPOSITIVE POWER

1,239,600       
----------- --------------------------------------------------------------------
11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON              

1,239,600                                               
----------- --------------------------------------------------------------------
12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN  
SHARES* [ ]                                             

----------- --------------------------------------------------------------------
13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)              

3.0%                                                    
----------- --------------------------------------------------------------------
14      TYPE OF REPORTING PERSON*                                       

OO                                                      
----------- --------------------------------------------------------------------

SC 13D/A 5th Page of 9 TOC 1st Previous Next ↓Bottom Just 5th
This Amendment No. 3 to Schedule 13D ("Amendment No. 3") amends the   
Schedule 13D filed on May 7, 2007 (as amended by Amendment No. 1 thereto filed  
on July 16, 2007, and Amendment No. 2 thereto filed on August 22, 2007, the     
"Schedule 13D") and is being filed on behalf of Third Point LLC, a Delaware     
limited liability company (the "Management Company"), Daniel S. Loeb, an        
individual ("Mr. Loeb"), and Third Point Offshore Fund, Ltd., a Cayman Islands  
limited liability exempted company (the "Offshore Fund", and together with the  
Management Company and Mr. Loeb, the "Reporting Persons"). This Amendment No. 3 
relates to the common stock, par value $0.01 per share (the "Common Stock"), of 
Granite Construction Incorporated, a Delaware corporation (the "Company"). The  
Management Company is the investment manager or adviser to a variety of hedge   
funds and managed accounts (such funds and accounts, including the Offshore     
Fund, the "Funds"). The Funds directly own the Common Stock to which this       
Schedule 13D relates, and Mr. Loeb and the Management Company may be deemed to  
have beneficial ownership over such Common Stock by virtue of the authority     
granted to them by the Funds to vote and to dispose of the securities held by   
the Funds, including the Common Stock.                                          

Item 3.   Source and Amount of Funds or Other Consideration.                    

Item 3 of the Schedule 13D is hereby amended and restated as follows: 

     The Funds have expended an aggregate of approximately $112,019,938 of their
own investment capital to acquire the 1,862,100 shares of Common Stock held by  
them. The Offshore Fund has expended an aggregate of approximately $74,625,163  
of its own investment capital to acquire its 1,239,600 shares of Common Stock.  
The Funds effect purchases of securities primarily through margin accounts      
maintained for them with Bear, Stearns Securities Corp., Goldman, Sachs & Co.,  
Citigroup Global Markets, Inc. and UBS Securities LLC, which may extend margin  
credit to the Funds as and when required to open or carry positions in the      
margin accounts, subject to applicable Federal margin regulations, stock        
exchange rules and the firm's credit policies. In such instances, the positions 
held in the margin accounts are pledged as collateral security for the repayment
of debit balances in the accounts.                                              

Item 5.   Interest in Securities of the Issuer.                                 

Item 5 of the Schedule 13D is hereby amended and restated as follows: 

(a) As of October 30, 2007, the Management Company and Mr. Loeb       
beneficially own 1,862,100 shares of Common Stock (the "Shares"). The Shares    
represent 4.4% of the 41,943,100 shares of Common Stock outstanding as of July  
20, 2007, as reported in the Company's Quarterly Report on Form 10-Q for the    
quarterly period ended June 30, 2007. The percentages used herein and in the    
rest of this statement are calculated based upon this number of outstanding     
shares.                                                                         

As of October 30, 2007, the Offshore Fund directly beneficially owns  
1,239,600 shares of Common Stock, representing 3.0% of the outstanding shares of
Common Stock. None of the Funds owns a number of shares of Common Stock         
representing more than 5% of such total.                                        

5 

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 The Offshore Fund reported in Amendment No. 2 to Schedule 13D (filed on
August 22, 2007) that it no longer beneficially owned greater than 5% of the    
outstanding Common Stock. During the course of the October 25, 2007 trading day,
the Offshore Fund made purchases that increased its beneficial ownership to an  
amount greater than 5% of the outstanding Common Stock. However, following sales
made later that day, the Offshore Fund once again directly beneficially owned   
less than 5% of the outstanding shares of Common Stock. As a result, the        
Offshore Fund is included as a Reporting Person in this Amendment No. 3, but as 
indicated in Item 5(e) below, has ceased to be the beneficial owner of more than
five percent of the outstanding Common Stock.                                   

    (b) The Management Company and Mr. Loeb share voting and dispositive power
over the 1,862,100 shares of Common Stock held directly by the Funds. The       
Management Company, Mr. Loeb and the Offshore Fund share voting power and       
dispositive power over the 1,239,600 shares of Common Stock held by the Offshore
Fund.                                                                           

(c) Schedule A hereto sets forth certain information with respect to  
transactions by the Funds (at the direction of the Management Company and Mr.   
Loeb) in Common Stock during the past 60 days. Schedule B hereto sets forth     
certain information with respect to transactions during the past 60 days by the 
Offshore Fund (at the direction of the Management Company and Mr. Loeb) in      
Common Stock.                                                                   

 All of the transactions set forth on Schedules A and B were effected in
open market transactions on the New York Stock Exchange. Other than as set forth
on Schedules A and B, since the most recent filing on Schedule 13D there were no
transactions in the Common Stock effected by the Reporting Persons nor, to the  
best of their knowledge, any of their directors, executive officers, general    
partners or members.                                                            

    (d) Other than the Funds which directly hold the Shares, and except as set
forth in this Item 5, no person is known to have the right to receive or the    
power to direct the receipt of dividends from, or the proceeds from the sale of,
the Shares.                                                                     

    (e) The Management Company and Mr. Loeb ceased to be the beneficial owners
of more than five percent of the outstanding Common Stock on October 30, 2007.  
The Offshore Fund ceased to be the beneficial owner of more than five percent of
the outstanding Common Stock on October 25, 2007. As of the date hereof, none of
the Reporting Persons are the beneficial owners of more than five percent of the
outstanding Common Stock.                                                       

[Signatures on following page]

6 

SC 13D/A 7th Page of 9 TOC 1st Previous Next ↓Bottom Just 7th
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:  October 31, 2007                                                        

 THIRD POINT LLC

                               By:   Daniel S. Loeb, Chief Executive Officer

       By: /s/ Justin Nadler
                                     -------------------------------------------
               Name:   Justin Nadler
                  Title:  Attorney-in-Fact

                 THIRD POINT OFFSHORE FUND, LTD.

                By:   Daniel S. Loeb, Director

       By: /s/ Justin Nadler
                                     -------------------------------------------
               Name:   Justin Nadler
                  Title:  Attorney-in-Fact

DANIEL S. LOEB

         By: /s/ Justin Nadler
                                     -------------------------------------------
               Name:   Justin Nadler
                  Title:  Attorney-in-Fact

[SIGNATURE PAGE TO AMENDMENT NO. 3 TO SCHEDULE 13D
WITH RESPECT TO GRANITE CONSTRUCTION INCORPORATED]

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                                                        [Enlarge/Download Table]


                                           Schedule A                                                             
                                           ----------                                                             

                            (Transactions by the Funds in Common Stock                                            
                                      during the past 60 days)                                                    

        Date                  Transaction                     Shares                   Price Per Share($)         
--------------------- ------------------------------ ---------------------------- --------------------------------
                                                                                                                  
      09/28/07                    SELL                        (50,000)                         52.98              
--------------------- ------------------------------ ---------------------------- --------------------------------
      09/28/07                     BUY                         17,800                          53.02              
--------------------- ------------------------------ ---------------------------- --------------------------------
      09/28/07                    SELL                        (17,800)                         53.02              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/01/07                    SELL                         (1,300)                         53.88              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/01/07                    SELL                        (13,700)                         53.65              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/25/07                     BUY                         525,000                         46.54              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/25/07                     BUY                         40,000                          46.47              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/25/07                    SELL                        (300,000)                        44.95              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/25/07                    SELL                        (175,000)                        44.68              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/26/07                    SELL                        (280,000)                        42.03              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/29/07                    SELL                        (200,000)                        42.81              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/29/07                    SELL                        (275,000)                        42.86              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/30/07                    SELL                        (357,900)                        42.46              
--------------------- ------------------------------ ---------------------------- --------------------------------


SC 13D/A Last Page of 9 TOC 1st Previous Next ↓Bottom Just 9th
                                                        [Enlarge/Download Table]


                                           Schedule B                                                             
                                           ----------                                                             

                       (Transactions by the Offshore Fund in Common Stock                                         
                                      during the past 60 days)                                                    

        Date                  Transaction                     Shares                   Price Per Share($)         
--------------------- ------------------------------ ---------------------------- --------------------------------
                                                                                                                  
      09/28/07                    SELL                        (33,200)                         52.98              
--------------------- ------------------------------ ---------------------------- --------------------------------
      09/28/07                    SELL                        (16,300)                         53.02              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/01/07                    SELL                         (9,100)                         53.65              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/01/07                    SELL                          (900)                          53.88              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/25/07                     BUY                         349,200                         46.54              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/25/07                     BUY                          26,600                         46.47              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/25/07                    SELL                        (199,700)                        44.95              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/25/07                    SELL                        (116,500)                        44.68              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/26/07                    SELL                        (187,400)                        42.03              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/29/07                    SELL                        (131,300)                        42.81              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/29/07                    SELL                        (183,100)                        42.86              
--------------------- ------------------------------ ---------------------------- --------------------------------
      10/30/07                    SELL                        (239,300)                        42.46              
--------------------- ------------------------------ ---------------------------- --------------------------------

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘SC 13D/A’ Filing	Date	First	Last	Other Filings

Filed on:	10/31/07	7		10-Q
	10/30/07	5	6
	10/29/07	1		SC 13G
	10/25/07	6		8-K
	8/22/07	5	6	SC 13D/A
	7/20/07	5		SC 13D/A
	7/16/07	5		SC 13D/A, SC 13G
	6/30/07	5		10-Q, 13F-HR
	5/7/07	5		4, SC 13D, SC 13D/A
				List all Filings

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Filing Submission 0000899140-07-001759 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Third Point LLC, et al. – ‘SC 13D/A’ on 10/31/07 re: Granite Construction Inc

On: Wednesday, 10/31/07, at 5:20pm ET · Accession #: 899140-7-1759 · File #: 5-41411

Previous ‘SC 13D’: ‘SC 13D/A’ on 10/17/07 · Next: ‘SC 13D/A’ on 11/9/07 · Latest: ‘SC 13D’ on 2/13/24

Amendment to General Statement of Beneficial Ownership — Sch. 13DFiling Table of Contents

Document Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Amendment to General Statement of Beneficial Ownership — Sch. 13D
Filing Table of Contents