SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 5)
MedQuist Inc.
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(Name of Issuer)
Common Stock, No Par Value
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(Title of Class of Securities)
584949101
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(CUSIP Number)
Neil T. Anderson, Esq.
Sullivan & Cromwell LLP
125 Broad Street
New York, New York 10004-2498
(212) 558-4000
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
November 2, 2007
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(Date of Event which Requires Filing of this Statement)
If a 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 [ ].
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CUSIP NO. 584949101
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1. NAME OF REPORTING PERSON
Koninklijke Philips Electronics N.V.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
222531298
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [_]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
[_]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
The Netherlands
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7. SOLE VOTING POWER
NUMBER OF 26,085,086
SHARES --------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 0
EACH --------------------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 26,085,086
WITH --------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
26,085,086
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[_]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
69.6%
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14. TYPE OF REPORTING PERSON
CO
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Item 1. Security and Issuer.
This Amendment No. 5 relates to the common stock, no par value (the
"Shares") of MedQuist Inc., a New Jersey corporation ("MedQuist"). This
Amendment No. 5 amends and supplements Item 4 of the Statement on Schedule 13D
dated June 6, 2000 (the "Schedule 13D") filed by Koninklijke Philips Electronics
N.V., a corporation incorporated under the laws of The Netherlands ("Philips"),
as previously amended and supplemented by Amendment No. 1 to the Schedule 13D,
dated July 28, 2000, Amendment No. 2 to the Schedule 13D, dated August 2, 2000,
Amendment No. 3 to the Schedule 13D, dated August 24, 2000 and Amendment No. 4
to the Schedule 13D, dated July 6, 2007. Unless otherwise defined herein, all
capitalized terms used herein shall have the meanings ascribed to them in the
Schedule 13D.
Item 4. Purpose of Transaction.
Item 4 is hereby amended and supplemented as follows:
On July 6, 2007, Philips publicly announced that it was reviewing all
of its options with respect to its 70% ownership interest in MedQuist following
a determination by Philips that it viewed its MedQuist ownership interest as a
non-core holding. Philips has recently completed such review and has now made
the decision to proceed with the sale of its ownership interest in MedQuist if a
satisfactory price and other acceptable terms can be realized. The current
intention of Philips is to pursue a transaction in which the other shareholders
of MedQuist would be offered the same consideration as Philips, subject to any
necessary approval of the MedQuist Board of Directors. Accordingly, Philips
would intend to coordinate with MedQuist in conducting an auction for such sale
with all interested potential purchasers. However, there can be no assurance as
to either the ultimate structure of any resulting transaction or whether any
transaction will occur.
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SIGNATURES
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.
Date: November 2, 2007
KONINKLIJKE PHILIPS ELECTRONICS N.V.
By: /s/ P.J. SIVIGNON
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Name: P.J. Sivignon
Title: Executive Vice President & CFO
By: /s/ E.P. COUTINHO
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Name: E.P. Coutinho
Title: General Secretary
and Chief Legal Officer
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