Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 15, 1995
BAKER HUGHES INCORPORATED
(Exact name of registrant as specified in charter)
Delaware 1-9397 76-0207995
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3900 Essex Lane, Houston, Texas 77027
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (713) 439-8600
Not Applicable
(Former name of former address, if changed since last report)
Item 5. Other Events.
On June 15, 1995, Baker Hughes Incorporated ("BHI")
repurchased 4,000,000 shares of its Convertible Preferred stock
with a face value of $200 million, previously issued to Sonat Inc.
in connection with the acquisition of Teleco Oilfield Services,
Inc. by BHI from Sonat Inc. for a purchase price of $167 million in
cash funded from cash on hand and additional borrowings. The
estimated fair market value of the 4,000,000 shares of Convertible
Preferred Stock was $149.4 million at the date of acquisition
(April 1992). The repurchase price in excess of this amount($17.6
million), will be deducted from net income in arriving at net
income per share of common stock in the quarter ending June 30,
1995. The $17.6 million excess equates to $.12 per share of common
stock.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
BAKER HUGHES INCORPORATED
Date: June 21, 1995 By: /s/ Lawrence O'Donnell, III
----------------------------
Lawrence O'Donnell, III
Vice President, General Counsel
and Corporate Secretary
