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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2 ) *
------
LUBRIZOL CORP.
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON
- --------------------------------------------------------------------------------
(Title of Class of Securities)
549271104
--------------------------------------------
(CUSIP Number)
December 31, 1999
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1 (b)
[ ] 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).
Page 1
<PAGE>
CUSIP No. 549271104
- --------------------------------------------------------------------------------
1. Names of Reporting Persons. Brandes Investment Partners, L.P.
I.R.S. Identification Nos.
of above persons (entities only). 33-0704072
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization California
- --------------------------------------------------------------------------------
5. Sole Voting Power
------------------------------------------------------------
Number of
Shares Bene- 6. Shared Voting Power 5,645,027
ficially owned ------------------------------------------------------------
by Each
Reporting 7. Sole Dispositive Power
Person With: ------------------------------------------------------------
8. Shared Dispositive Power 5,645,027
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
5,645,027
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
10.33%
- --------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions)
IA, PN
- --------------------------------------------------------------------------------
Page 2
<PAGE>
CUSIP No. 549271104
- --------------------------------------------------------------------------------
1. Names of Reporting Persons. Brandes Investment Partners, Inc.
I.R.S. Identification Nos.
of above persons (entities only). 33-0090873
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization California
- --------------------------------------------------------------------------------
5. Sole Voting Power
------------------------------------------------------------
Number of
Shares Bene- 6. Shared Voting Power 5,645,027
ficially owned ------------------------------------------------------------
by Each
Reporting 7. Sole Dispositive Power
Person With: ------------------------------------------------------------
8. Shared Dispositive Power 5,645,027
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
5,645,027 shares are deemed to be beneficially owned by Brandes
Investment Partners, Inc., as a control person of the investment
adviser. Brandes Investment Partners, Inc. disclaims any direct
ownership of the shares reported in this Schedule 13G, except for an
amount that is substantially less than one per cent of the number of
shares reported herein.
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
10.33%
- --------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions)
CO, OO (Control Person)
- --------------------------------------------------------------------------------
Page 3
<PAGE>
CUSIP No. 549271104
- --------------------------------------------------------------------------------
1. Names of Reporting Persons. Brandes Holdings, L.P.
I.R.S. Identification Nos.
of above persons (entities only). 33-0836630
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization California
- --------------------------------------------------------------------------------
5. Sole Voting Power
------------------------------------------------------------
Number of
Shares Bene- 6. Shared Voting Power 5,645,027
ficially owned ------------------------------------------------------------
by Each
Reporting 7. Sole Dispositive Power
Person With: ------------------------------------------------------------
8. Shared Dispositive Power 5,645,027
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
5,645,027 shares are deemed to be beneficially owned by Brandes
Holdings, L.P., as a control person of the investment adviser. Brandes
Holdings, L.P. disclaims any direct ownership of the shares reported
in this Schedule 13G.
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
10.33%
- --------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions)
PN, OO (Control Person)
- --------------------------------------------------------------------------------
Page 4
<PAGE>
CUSIP No. 549271104
- --------------------------------------------------------------------------------
1. Names of Reporting Persons. Charles H. Brandes
I.R.S. Identification Nos.
of above persons (entities only).
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization USA
- --------------------------------------------------------------------------------
5. Sole Voting Power
------------------------------------------------------------
Number of
Shares Bene- 6. Shared Voting Power 5,645,027
ficially owned ------------------------------------------------------------
by Each
Reporting 7. Sole Dispositive Power
Person With: ------------------------------------------------------------
8. Shared Dispositive Power 5,645,027
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
5,645,027 shares are deemed to be beneficially owned by Charles H.
Brandes, a control person of the investment adviser. Mr. Brandes
disclaims any direct ownership of the shares reported in this Schedule
13G, except for an amount that is substantially less than one per cent
of the number of shares reported herein.
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
10.33%
- --------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions)
IN, OO (Control Person)
- --------------------------------------------------------------------------------
Page 5
<PAGE>
CUSIP No. 549271104
- --------------------------------------------------------------------------------
1. Names of Reporting Persons. Glenn R. Carlson
I.R.S. Identification Nos.
of above persons (entities only).
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization USA
- --------------------------------------------------------------------------------
5. Sole Voting Power
------------------------------------------------------------
Number of
Shares Bene- 6. Shared Voting Power 5,645,027
ficially owned ------------------------------------------------------------
by Each
Reporting 7. Sole Dispositive Power
Person With: ------------------------------------------------------------
8. Shared Dispositive Power 5,645,027
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
5,645,027 shares are deemed to be beneficially owned by Glenn R.
Carlson, a control person of the investment adviser. Mr. Carlson
disclaims any direct ownership of the shares reported in this Schedule
13G, except for an amount that is substantially less than one per cent
of the number of shares reported herein.
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
10.33%
- --------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions)
IN, OO (Control Person)
- --------------------------------------------------------------------------------
Page 6
<PAGE>
CUSIP No. 549271104
- --------------------------------------------------------------------------------
1. Names of Reporting Persons. Jeffrey A. Busby
I.R.S. Identification Nos.
of above persons (entities only).
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization USA
- --------------------------------------------------------------------------------
5. Sole Voting Power
------------------------------------------------------------
Number of
Shares Bene- 6. Shared Voting Power 5,645,027
ficially owned ------------------------------------------------------------
by Each
Reporting 7. Sole Dispositive Power
Person With: ------------------------------------------------------------
8. Shared Dispositive Power 5,645,027
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
5,645,027 shares are deemed to be beneficially owned by Jeffrey A.
Busby, a control person of the investment adviser. Mr. Busby disclaims
any direct ownership of the shares reported in this Schedule 13G,
except for an amount that is substantially less than one per cent of
the number of shares reported herein.
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
10.33%
- --------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions)
IN, OO (Control Person)
- --------------------------------------------------------------------------------
Page 7
<PAGE>
ITEM 1(a) NAME OF ISSUER
Lubrizol Corp.
ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
29400 Lakeland Blvd. Wickliffe, OH 44092-2298
ITEM 2(a) NAME OF PERSON FILING
(i) Brandes Investment Partners, L.P.
(ii) Brandes Investment Partners, Inc.
(iii) Brandes Holdings, L.P.
(iv) Charles H. Brandes
(v) Glenn R. Carlson
(vi) Jeffrey A. Busby
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
(i) 12750 High Bluff Drive, San Diego, CA 92130
(ii) 12750 High Bluff Drive, San Diego, CA 92130
(iii) 12750 High Bluff Drive, San Diego, CA 92130
(iv) 12750 High Bluff Drive, San Diego, CA 92130
(v) 12750 High Bluff Drive, San Diego, CA 92130
(vi) 12750 High Bluff Drive, San Diego, CA 92130
ITEM 2(c) CITIZENSHIP
(i) California
(ii) California
(iii) California
(iv) USA
(v) USA
(vi) USA
ITEM 2(d) TITLE OF CLASS OF SECURITIES
Common
Page 8
<PAGE>
ITEM 2(e) CUSIP NUMBER
549271104
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO (section) 240.13D-1(B), OR
240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C.
78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C.
78c).
(d) [ ] Investment company registered under section 8 of the Investment
Company Act (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with (section)
240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
(section) 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
(section) 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3);
(j) [X] Group, in accordance with (section) 240.13d-1(b)(1)(ii)(J);
This statement is filed by Brandes Investment Partners, L.P., an investment
adviser registered under the Investment Advisers Act of 1940, its control
persons and its holding company. (See, also, Exhibit A.)
Page 9
<PAGE>
ITEM 4. OWNERSHIP.
Common Stock
(a) Amount beneficially owned:
5,645,027
-----------------------------------------------------------------
(b) Percent of class:
10.33%
-----------------------------------------------------------------
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
0
------------------------------------------------------------
(ii) Shared power to vote or to direct the vote
5,645,027
------------------------------------------------------------
(iii) Sole power to dispose or to direct the disposition of
0
------------------------------------------------------------
(iv) Shared power to dispose or to direct the disposition of
5,645,027
------------------------------------------------------------
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 [ ]. N/A
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
See Exhibit A
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
N/A
Page 10
<PAGE>
ITEM 10. CERTIFICATION
(a) The following certification shall be included if the statement
filed pursuant to (section) 240.13d-1(b):
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are
held in the ordinary course of business and 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.
SIGNATURE
Date: January 31, 2000
BRANDES INVESTMENT PARTNERS, L.P.
By: /s/ Adelaide Pund
-----------------------------------------
Adelaide Pund as Attorney-In-Fact for
Charles H. Brandes, President and Chairman
of Brandes Investment Partners, Inc., its
General Partner
BRANDES INVESTMENT PARTNERS, INC.
By: /s/ Adelaide Pund
-----------------------------------------
Adelaide Pund as Attorney-In-Fact for
Charles H. Brandes, President and Chairman
BRANDES HOLDINGS, L.P.
By: /s/ Adelaide Pund
-----------------------------------------
Adelaide Pund as Attorney-In-Fact for
Charles H. Brandes, President and Chairman
of Brandes Investment Partners, Inc., its
General Partner
By: /s/ Adelaide Pund
-----------------------------------------
Adelaide Pund as Attorney-In-Fact for
Charles H. Brandes, Control Person
By: /s/ Adelaide Pund
-----------------------------------------
Adelaide Pund as Attorney-In-Fact for
Glenn R. Carlson, Control Person
By: /s/ Adelaide Pund
-----------------------------------------
Adelaide Pund as Attorney-In-Fact for
Jeffrey A. Busby, Control Person
Page 11
<PAGE>
EXHIBIT A
Identification and Classification of Members of the Group
---------------------------------------------------------
Pursuant to Rule 13d-1(b)(ii)(J) and Rule 13d-1(k)(1) under the Securities and
Exchange Act of 1934, the members of the group making this joint filing are
identified and classified as follows:
Name Classification
---- --------------
Brandes Investment Partners, L.P. Investment adviser registered under
(the "Investment Adviser") Investment Advisers Act of 1940
Brandes Investment Partners, Inc. A control person of the Investment Adviser
Brandes Holdings, L.P. A control person of the Investment Adviser
Charles H. Brandes A control person of the Investment Adviser
Glenn R. Carlson A control person of the Investment Adviser
Jeffrey A. Busby A control person of the Investment Adviser
Page 12
<PAGE>
EXHIBIT B
Joint Filing Agreement Pursuant to Rule 13d-1
---------------------------------------------
This agreement is made pursuant to Rule 13d-1(b)(ii)(J) and Rule 13d-1(k)(1)
under the Securities and Exchange Act of 1934 (the "Act") by and among the
parties listed below, each referred to herein as a "Joint Filer." The Joint
Filers agree that a statement of beneficial ownership as required by Sections
13(g) or 13(d) of the Act and the Rules thereunder may be filed on each of their
behalf on Schedule 13G or Schedule 13D, as appropriate, and that said joint
filing may thereafter be amended by further joint filings. The Joint Filers
state that they each satisfy the requirements for making a joint filing under
Rule 13d-1.
Dated: January 31, 2000
BRANDES INVESTMENT PARTNERS, L.P.
By: /s/ Charles H. Brandes
-----------------------------------------
Charles H. Brandes, President and Chairman
of Brandes Investment Partners, Inc., its
General Partner
BRANDES INVESTMENT PARTNERS, INC.
By: /s/ Charles H. Brandes
-----------------------------------------
Charles H. Brandes, President and Chairman
BRANDES HOLDINGS, L.P.
By: /s/ Charles H. Brandes
-----------------------------------------
Charles H. Brandes, President and Chairman
of Brandes Investment Partners, Inc., its
General Partner
By: /s/ Charles H. Brandes
-----------------------------------------
Charles H. Brandes, Control Person
By: /s/ Glenn R. Carlson
-----------------------------------------
Glenn R. Carlson, Control Person
By: /s/ Jeffrey A. Busby
-----------------------------------------
Jeffrey A. Busby, Control Person
Page 13
<PAGE>
EXHIBIT C
Disclaimer of Beneficial Ownership
----------------------------------
Lubrizol Corp.
5,645,027 Common Stock
Brandes Investment Partners, Inc., Brandes Holdings, L.P., Charles H. Brandes,
Glenn R. Carlson and Jeffrey A. Busby, disclaim beneficial interest as to the
shares referenced above, except for an amount equal to substantially less than
one percent of the share class. None of these entities or individuals holds the
above-referenced shares for its/his own account except on a de minimis basis.
Page 14
<PAGE>
EXHIBIT D
Power of Attorney Forms for
Schedules 13G and Forms 13F
I, Charles Brandes, as director and chairman of Brandes Investment Partners,
Inc., which is the sole General Partner of Brandes Holdings, L.P., and as a
Managing Partner of Brandes Investment Partners, L.P., hereby appoint Gerald W.
Wheeler and Adelaide Pund as attorneys-in-fact and agents, in all capacities, to
execute, on my behalf and on behalf of Brandes Investment Partners, Inc.,
Brandes Investment Partners, L.P., and Brandes Holdings, L.P., to file with the
appropriate issuers, exchanges and regulatory authorities, any and all Schedules
13G and Forms 13F and documents relating thereto required to be filed under the
Securities and Exchange Act of 1934, including exhibits, attachments and
amendments thereto and request for confidential treatment of information
contained therein. I hereby grant to said attorneys-in-fact full authority to do
every act necessary to be done in order to effectuate the same as fully, to all
intents and purposes, as I could if personally present, thereby ratifying all
that said attorneys-in-fact and agents may lawfully do or cause to be done by
virtue hereof.
I hereby execute this Power of Attorney as of this 31 day of January, 2000.
/s/ Charles H. Brandes
---------------------------------------
Charles H. Brandes
Page 15
<PAGE>
EXHIBIT D
Power of Attorney Forms for
Schedules 13G
I, Glenn R. Carlson, hereby appoint Gerald W. Wheeler and Adelaide Pund as
attorneys-in-fact and agents, in all capacities, to execute, on my behalf, and
to file with the appropriate issuers, exchanges and regulatory authorities, any
and all Schedules 13G and documents relating thereto required to be filed under
the Securities and Exchange Act of 1934, including exhibits, attachments and
amendments thereto and request for confidential treatment of information
contained therein in connection with my being a "control person" (as
contemplated for purposes of Schedule 13G) of Brandes Investment Partners, L.P.,
its subsidiaries and affiliates. I hereby grant to said attorneys-in-fact full
authority to do every act necessary to be done in order to effectuate the same
as fully, to all intents and purposes, as I could if personally present, thereby
ratifying all that said attorneys-in-fact and agents may lawfully do or cause to
be done by virtue hereof.
I hereby execute this Power of Attorney as of this 31 day of January, 2000.
/s/ Glenn R. Carlson
----------------------------------------
Glenn R. Carlson
Page 16
<PAGE>
EXHIBIT D
Power of Attorney Forms for
Schedules 13G
I, Jeffrey A. Busby hereby appoint Gerald W. Wheeler and Adelaide Pund as
attorneys-in-fact and agents, in all capacities, to execute, on my behalf, and
to file with the appropriate issuers, exchanges and regulatory authorities, any
and all Schedules 13G and documents relating thereto required to be filed under
the Securities and Exchange Act of 1934, including exhibits, attachments and
amendments thereto and request for confidential treatment of information
contained therein in connection with my being a "control person" (as
contemplated for purposes of Schedule 13G) of Brandes Investment Partners, L.P.,
its subsidiaries and affiliates. I hereby grant to said attorneys-in-fact full
authority to do every act necessary to be done in order to effectuate the same
as fully, to all intents and purposes, as I could if personally present, thereby
ratifying all that said attorneys-in-fact and agents may lawfully do or cause to
be done by virtue hereof.
I hereby execute this Power of Attorney as of this 31 day of January, 2000.
/s/ Jeffrey A. Busby
----------------------------------------
Jeffrey A. Busby
Page 17
