UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
Aleris International, Inc.
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(Name of Issuer)
Common Stock, $0.10 Par Value Per Share
--------------------------------------------------------------------------------
(Title of Class of Securities)
014477103
---------
(CUSIP Number)
December 31, 2005
-----------------
(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 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).
Page 1 of 11
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CUSIP No. 014477103 13G Page 2 of 11 Pages
-------------------- --------------------
---------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Advisors, LLC
---------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
---------- --------------------------------------------------------------------
3 SEC USE ONLY
---------- --------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ---------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ---------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 188,700 (see Item 4)
BY ----- ---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
188,700 (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
188,700 (see Item 4)
---------- --------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
---------- --------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6% (see Item 4)
---------- --------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- --------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 11
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CUSIP No. 014477103 13G Page 3 of 11 Pages
-------------------- --------------------
---------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Management, LLC
---------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
---------- --------------------------------------------------------------------
3 SEC USE ONLY
---------- --------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ---------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ---------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 188,700 (see Item 4)
BY ------ ---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
188,700 (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
188,700 (see Item 4)
---------- --------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
---------- --------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6% (see Item 4)
---------- --------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- --------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 11
-------------------- --------------------
CUSIP No. 014477103 13G Page 4 of 11 Pages
-------------------- --------------------
---------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CR Intrinsic Investors, LLC
---------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
---------- --------------------------------------------------------------------
3 SEC USE ONLY
---------- --------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ---------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ---------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 100,000 (see Item 4)
BY ------ ---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
100,000 (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000 (see Item 4)
---------- --------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
---------- --------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.3% (see Item 4)
---------- --------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- --------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 11
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CUSIP No. 014477103 13G Page 5 of 11 Pages
-------------------- --------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sigma Capital Management, LLC
---------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
---------- --------------------------------------------------------------------
3 SEC USE ONLY
---------- --------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ---------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ---------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 135,000 (see Item 4)
BY ------ ---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
135,000 (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
135,000 (see Item 4)
---------- --------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
---------- --------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.4% (see Item 4)
---------- --------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- --------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 5 of 11
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CUSIP No. 014477103 13G Page 6 of 11 Pages
-------------------- --------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven A. Cohen
---------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
---------- --------------------------------------------------------------------
3 SEC USE ONLY
---------- --------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ---------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ---------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 423,700 (see Item 4)
BY ------ ---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
423,700 (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
423,700 (see Item 4)
---------- --------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
---------- --------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.4% (see Item 4)
---------- --------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- --------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 6 of 11
ITEM 1(A) NAME OF ISSUER:
--------------
Aleris International, Inc.
ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
-----------------------------------------------
25825 Science Park Drive, Suite 400
Beachwood, Ohio 44122
ITEMS 2(A) NAME OF PERSON FILING:
----------------------
This statement is filed by: (i) S.A.C. Capital Advisors, LLC,
("SAC Capital Advisors") with respect to shares of common
stock, $0.001 par value per share ("Shares") of the Issuer
beneficially owned by S.A.C. Capital Associates, LLC ("SAC
Capital Associates"), S.A.C. Meridian Fund, LLC ("SAC
Meridian"), and S.A.C. MultiQuant Fund, LLC ("SAC
MultiQuant"); (ii) S.A.C. Capital Management, LLC, ("SAC
Capital Management") with respect to Shares beneficially owned
by SAC Capital Associates; SAC Meridian and SAC MultiQuant;
(iii) CR Intrinsic Investors, LLC ("CR Intrinsic Investors")
with respect to Shares beneficially owned by CR Intrinsic
Investments, LLC ("CR Intrinsic Investments"); (iv) Sigma
Capital Management, LLC ("Sigma Capital Management") with
respect to Shares beneficially owned by Sigma Capital
Associates, LLC ("Sigma Capital Associates"); and (v) Steven
A. Cohen with respect to Shares beneficially owned by SAC
Capital Advisors, SAC Capital Management, SAC Capital
Associates, SAC Meridian, SAC MultiQuant, CR Intrinsic
Investors, CR Intrinsic Investments, Sigma Capital Management
and Sigma Capital Associates.
ITEM 2(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
-------------------------------------
The address of the principal business office of (i) SAC
Capital Advisors, CR Intrinsic Investors and Mr. Cohen is 72
Cummings Point Road, Stamford, Connecticut 06902 and (ii) SAC
Capital Management and Sigma Capital Management is 540 Madison
Avenue, New York, New York 10022.
ITEM 2(C) CITIZENSHIP:
------------
SAC Capital Advisors, SAC Capital Management, CR Intrinsic
Investors and Sigma Capital Management are Delaware limited
liability companies. Mr. Cohen is a United States citizen.
Page 7 of 11
ITEM 2(D) TITLE OF CLASS OF SECURITIES:
-----------------------------
Common Stock, par value $0.10 per share
ITEM 2(E) CUSIP NUMBER:
-------------
014477103
ITEM 3 Not Applicable
ITEM 4 OWNERSHIP:
----------
As of the close of business on December 30, 2005:
1. S.A.C. Capital Advisors, LLC
(a) Amount beneficially owned: 188,700
(b) Percent of class: 0.6%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 188,700
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the
disposition: 188,700
2. S.A.C. Capital Management, LLC
(a) Amount beneficially owned: 188,700
(b) Percent of class: 0.6%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 188,700
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the
disposition: 188,700
3. CR Intrinsic Investors, LLC
(a) Amount beneficially owned: 100,000
(b) Percent of class: 0.3%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 100,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the
disposition: 100,000
4. Sigma Capital Management, LLC
(a) Amount beneficially owned: 135,000
(b) Percent of class: 0.4%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 135,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the
disposition: 135,000
Page 8 of 11
5. Steven A. Cohen
(a) Amount beneficially owned: 423,700
(b) Percent of class: 1.4%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 423,700
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the
disposition: 423,700
SAC Capital Advisors, SAC Capital Management, CR Intrinsic
Investors, Sigma Capital Management and Mr. Cohen own directly
no Shares. Pursuant to investment agreements, each of SAC
Capital Advisors and SAC Capital Management share all
investment and voting power with respect to the securities
held by SAC Capital Associates, SAC Meridian and SAC
MultiQuant. Pursuant to an investment management agreement, CR
Instrinsic Investors maintains investment and voting power
with respect to the securities held by CR Intrinsic
Investments. Pursuant to an investment management agreement,
Sigma Capital Management maintains investment and voting power
with respect to the securities held by Sigma Capital
Associates. Mr. Cohen controls each of SAC Capital Advisors,
SAC Capital Management, CR Intrinsic Investors and Sigma
Capital Management. CR Intrinsic Investments is a wholly owned
subsidiary of SAC Capital Associates. By reason of the
provisions of Rule 13d-3 of the Securities Exchange Act of
1934, as amended, each of (i) SAC Capital Advisors, SAC
Capital Management and Mr. Cohen may be deemed to own
beneficially 188,700 Shares (constituting approximately 0.6%
of the Shares outstanding); (ii) CR Intrinsic Investors and
Mr. Cohen may be deemed to own beneficially 100,000 Shares
(constituting approximately 0.3% of the Shares outstanding);
and (iii) Sigma Capital Management and Mr. Cohen may be deemed
to own beneficially 135,000 Shares (constituting approximately
0.4% of the Shares outstanding). Each of SAC Capital Advisors,
SAC Capital Management, Sigma Capital Management, CR Intrinsic
Investors and Mr. Cohen disclaim beneficial ownership of any
of the securities covered by this statement, and SAC Capital
Associates disclaims beneficial ownership of any securities
held by CR Intrinsic Investments.
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
Page 9 of 11
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 the signatory certifies that, to the best of his
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
Page 10 of 11
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 14, 2006
S.A.C. CAPITAL ADVISORS, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL MANAGEMENT, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
CR INTRINSIC INVESTORS, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
SIGMA CAPITAL MANAGEMENT, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
STEVEN A. COHEN
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
Page 11 of 11