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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ____)*
Baker Hughes Incorporated
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
057224107
- --------------------------------------------------------------------------------
(CUSIP Number)
Scott Renwick One East Wacker Drive
(312) 661-4520 Chicago, Illinois 60601
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
August 10, 1998
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
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 (S)(S)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 (S)240.13d-7(b) 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).
Page 1 of 10
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 057224107 PAGE 2 OF 10 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Unitrin, Inc.
95-4255452
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) _____
(b) _____
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
See Item 3.
- ------------------------------------------------------------------------------
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
34,175,963
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
34,175,963
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
34,175,963
- ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12 (See Instructions)
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
10.7%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
HC, CO
- ------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 057224107 PAGE 3 OF 10 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Trinity Universal Insurance Company
75-0620550
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) _____
(b) _____
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
See Item 3.
- ------------------------------------------------------------------------------
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Texas
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
19,458,295
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
19,458,295
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
19,458,295
- ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12 (See Instructions)
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.1%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IC, CO
- ------------------------------------------------------------------------------
<PAGE>
CUSIP No. 057224107 Page 4 of 10 Pages
Item 1. Security and Issuer
-------------------
Common stock, $1.00 par value, of Baker Hughes Incorporated, 3900 Essex
Lane, Houston, Texas 77027-5177 ("Baker Hughes").
Item 2. Identity and Background
-----------------------
The persons filing this Schedule 13D are:
(1) Unitrin, Inc., One East Wacker Drive, Chicago, Illinois 60601
("Unitrin"), a Delaware corporation whose principal activity is
holding the stock of insurance and consumer finance subsidiaries.
For additional information concerning the directors and executive
officers of Unitrin, see Exhibit A.
(2) Trinity Universal Insurance Company, 10000 North Central Expressway,
Dallas, Texas, 75231 ("Trinity"), a Texas corporation primarily
engaged in the business of underwriting property and casualty
insurance. Trinity is a wholly owned subsidiary of Unitrin.
For additional information concerning the directors and executive
officers of Trinity, see Exhibit B.
No filing person has been convicted in any criminal proceeding (excluding
traffic violations or similar misdemeanors) during the past five years; nor, to
the best knowledge and belief of the filing persons, has anyone listed in the
attached exhibits been convicted in any such proceedings.
No filing person, and to the best knowledge and belief of the filing
persons, no person listed on the attached exhibits, was a party during the past
five years to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
United Insurance Company of America, One East Wacker Drive, Chicago,
Illinois, 60601 ("United"), is a wholly owned subsidiary of Unitrin. As
described in Items 3 and 5 below, United also owns shares of Baker Hughes.
However, due to the fact that United's beneficial ownership is less than 5% of
the outstanding Baker Hughes common stock, United is not required to file a
Schedule 13D with respect to its holdings and is not a joint filer of this
Schedule 13D.
<PAGE>
CUSIP No. 057224107 Page 5 of 10 Pages
Item 3. Source and Amount of Funds or Other Consideration
-------------------------------------------------
Trinity and United were shareholders of Western Atlas Inc. ("Western
Atlas"). On August 10, 1998, Western Atlas was acquired by Baker Hughes in a
merger transaction in which each outstanding share of Western Atlas was
converted into 2.7 shares of Baker Hughes common stock. As a result, Trinity and
United received 2.7 shares of Baker Hughes for each share they held in Western
Atlas. No separate consideration was paid by Trinity or United for the Baker
Hughes shares reported hereby.
Item 4. Purpose of Transaction
----------------------
The filing persons have no plans or proposals which relate to Items 4(a)
through 4(j) of Schedule 13D. Future investment considerations by the filing
persons might or might not result in the acquisition of additional securities of
Baker Hughes or the disposition of securities of Baker Hughes.
Item 5. Interest in Securities of the Issuer
------------------------------------
(a) The aggregate number and percentage of the shares of Baker Hughes
common stock beneficially owned directly by Trinity is set forth in
the cover page to this Schedule 13D. United beneficially owns directly
14,717,668 shares of Baker Hughes constituting approximately 4.6% of
the outstanding shares of Baker Hughes. As the parent company of
Trinity and United, Unitrin may also be deemed to be a beneficial
owner of shares of Baker Hughes owned by Trinity and United. The
number and percentage of Baker Hughes common stock with respect to
Unitrin are also set forth in the cover page.
(b) Trinity and United each share with Unitrin voting and dispositive
powers over the shares held by them, respectively.
(c) Except for the acquisition of the Baker Hughes common stock pursuant
to the merger transaction described in Item 3 above, neither the
filing companies nor United have had any transactions in the common
stock of Baker Hughes.
(d) No person, other than the filing persons or United, has the right to
receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, the security listed on the cover page.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
---------------------------------------------------------------------
to Securities of Issuer
-----------------------
See Item 5 above.
<PAGE>
CUSIP No. 057224107 Page 6 of 10 Pages
Item 7. Material to be Filed as Exhibits
--------------------------------
The following documents are attached as exhibits to this Schedule 13D:
Exhibit A Unitrin, Inc. Directors and Officers
Exhibit B Trinity Universal Insurance Company Directors and Officers
Exhibit C Joint Filing Agreement between Unitrin, Inc. and Trinity
Universal Insurance Company dated August 20, 1998
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: August 20, 1998 UNITRIN, INC.
By: /s/ Scott Renwick
-------------------------------
Scott Renwick
Secretary
<PAGE>
CUSIP No. 057224107 Page 7 of 10 Pages
Exhibit A
UNITRIN, INC.
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------
NAME BUSINESS POSITION WITH UNITRIN
(All are U.S. Citizens) ADDRESS (Principal Occupation, if different,
presented in footnotes)
- --------------------------------------------------------------------------------------------
<S> <C> <C>
James E. Annable (2) Director
- --------------------------------------------------------------------------------------------
David F. Bengston (9) (1) Vice President
- --------------------------------------------------------------------------------------------
James W. Burkett (9) (8) Vice President
- --------------------------------------------------------------------------------------------
Eric J. Draut (9) (1) Vice President, Treasurer & Chief
Financial Officer
- --------------------------------------------------------------------------------------------
Reuben L. Hedlund (3) Director
- --------------------------------------------------------------------------------------------
Jerrold V. Jerome (9) (1) Director & Chairman of the Board
- --------------------------------------------------------------------------------------------
William E. Johnston, Jr. (4) Director
- --------------------------------------------------------------------------------------------
Thomas H. Maloney (9) (1) Vice President & General Counsel
- --------------------------------------------------------------------------------------------
Scott Renwick (1) Secretary
- --------------------------------------------------------------------------------------------
George A. Roberts (5) Director
- --------------------------------------------------------------------------------------------
Fayez S. Sarofim (6) Director
- --------------------------------------------------------------------------------------------
Henry E. Singleton (7) Director
- --------------------------------------------------------------------------------------------
Donald G. Southwell (1) Vice President
- --------------------------------------------------------------------------------------------
Richard C. Vie (9) (1) Director, President & Chief
Executive Officer
- --------------------------------------------------------------------------------------------
</TABLE>
(1) One East Wacker Drive, Chicago, Illinois 60601.
(2) Mr. Annable is Senior Vice President of First Chicago NBD Corporation, One
First National Plaza, Suite 0476, Chicago, Illinois 60670.
(3) Mr. Hedlund is an attorney and partner with the law firm of Hedlund, Hanley
& John, Sears Tower, Suite 5700, Chicago, Illinois 60606.
(4) Mr. Johnston is President and Chief Operating Officer of Morton
International, Inc., 100 North Riverside Plaza, Chicago, Illinois 60606.
(5) Dr. Roberts is a retired executive. 10000 North Central Expressway, Dallas,
Texas 75231.
(6) Mr. Sarofim is the Chairman of the Board and President of Fayez Sarofim &
Co., a registered investment advisor, Two Houston Center, Suite 2907,
Houston, Texas 77010.
(7) Dr. Singleton is a rancher and investor. 334 N. Maple Drive, Suite 177,
Beverly Hills, California 90210.
(8) Mr. Burkett is President and Chairman of the Board of Trinity Universal
Insurance Company, 10000 North Central Expressway, Dallas, Texas 75231.
(9) See also, Exhibit B filed herewith.
August 20, 1998
<PAGE>
CUSIP No. 057224107 Page 8 of 10 Pages
Exhibit B
TRINITY UNIVERAL INSURANCE COMPANY
<TABLE>
<CAPTION>
NAME BUSINESS POSITION WITH TRINITY
(All are U.S. Citizens) ADDRESS (Principal Occupation, if different,
presented in footnotes)
- --------------------------------------------------------------------------------------------
<S> <C> <C>
David F. Bengston (3) (1) Director
- --------------------------------------------------------------------------------------------
Robert F. Buehler (2) Vice President & Treasurer
- --------------------------------------------------------------------------------------------
James W. Burkett (3) (2) Director, Chairman of the Board &
President
- --------------------------------------------------------------------------------------------
Roger M. Buss (2) Vice President
- --------------------------------------------------------------------------------------------
Donald C. Crutchfield (2) Vice President
- --------------------------------------------------------------------------------------------
Eric J. Draut (3) (1) Director
- --------------------------------------------------------------------------------------------
David B. Durham (2) Vice President
- --------------------------------------------------------------------------------------------
Judith E. Fagan (2) Director, Senior Vice President &
Corporate Secretary
- --------------------------------------------------------------------------------------------
Dennis O. Halsey (2) Vice President
- --------------------------------------------------------------------------------------------
Jerrold V. Jerome (3) (1) Director
- --------------------------------------------------------------------------------------------
Dorothy A. Langley (2) Vice President & Corporate Counsel
- --------------------------------------------------------------------------------------------
Thomas H. Maloney (3) (1) Director
- --------------------------------------------------------------------------------------------
James R. McLane (2) Senior Vice President
- --------------------------------------------------------------------------------------------
Richard C. Vie (3) (1) Director
- --------------------------------------------------------------------------------------------
</TABLE>
(1) One East Wacker Drive, Chicago, Illinois 60601.
(2) Trinity Universal Insurance Company, 10000 North Central Expressway,
Dallas, Texas 75231.
(3) See also, Exhibit A filed herewith.
August 20, 1998
<PAGE>
CUSIP No. 057224107 Page 9 of 10 Pages
Exhibit C
AGREEMENT
UNITRIN, INC., AND TRINITY UNIVERSAL INSURANCE COMPANY by their undersigned
officers hereby agree that UNITRIN, INC. shall file a joint statement on behalf
of such companies whenever any or all are required by Section 13(d) of the
Securities Exchange Act of 1934, and the regulations issued pursuant thereto, to
file any statement concerning the ownership of stock issued by Baker Hughes
Incorporated.
Date: August 20, 1998
UNITRIN, INC.
By: /s/ Scott Renwick
----------------------------------
Scott Renwick
Secretary
TRINITY UNIVERSAL INSURANCE COMPANY
By: /s/ Samuel L. Fitzpatrick
----------------------------------
Samuel L. Fitzpatrick
Assistant Secretary
