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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. 2)*
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)
March 22, 1999
- --------------------------------------------------------------------------------
(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 7
<PAGE>
SCHEDULE 13D
----------------------- ---------------------
CUSIP NO. 057224107 PAGE 2 OF 7 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 13,163,149
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
17,472,295
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
13,163,149
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
17,472,295
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
30,635,444
- ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12 (See Instructions)
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
9.4%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
HC, CO
- ------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 057224107 PAGE 3 OF 7 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
17,472,295
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
17,472,295
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
17,472,295
- ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12 (See Instructions)
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.3%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IC, CO
- ------------------------------------------------------------------------------
<PAGE>
CUSIP No. 057224107 Page 4 of 7 Pages
Amendment No. 2 to Schedule 13D
The information reported previously in Unitrin's Schedule 13D, dated August
10, 1998, as amended by Amendment No. 1 thereto, dated October 19, 1998 (the
"1998 13D") is supplemented with the following information. Capitalized terms
used below and not otherwise defined have the meanings given to such terms in
the 1998 13D.
Item 4. Purpose of Transaction
The filing persons have no plans or proposals which relate to items 4(b)
through 4(j) of Schedule 13D. The filing persons presently intend to sell an
indeterminate number of shares of Baker Hughes common stock in market
transactions, subject to market conditions and other factors. Future investment
considerations by the filing persons might or might not result in the
acquisition of additional securities of Baker Hughes.
Item 5. Interest in Securities of the Issuer
Unitrin reported in the 1998 13D that it had sole voting and dispositive
power with respect to 14,717,667 shares of Baker Hughes common stock and shared
voting and dispositive power with respect to 19,458,295 shares of Baker Hughes
held by Unitrin's wholly-owned subsidiary, Trinity Universal Insurance Company
("Trinity"), resulting in total beneficial ownership, direct and indirect, of
34,175,962 shares.
During the period beginning on March 16, 1999 and ending on March 22, 1999,
Unitrin and Trinity conducted a series of open market sales of Baker Hughes
common stock in unsolicited brokerage transactions and otherwise in accordance
with Rule 144 of the Securities and Exchange Commission. The average sale price
for these transactions was approximately $22.86. As a result of these
transactions, Unitrin now has sole voting and dispositive power with respect to
13,163,149 shares of Baker Hughes common stock and shared voting and dispositive
power with respect to 17,472,295 of such shares held by Trinity. Accordingly,
Unitrin's total beneficial ownership, direct and indirect, of Baker Hughes
common stock is 30,635,444 shares as of March 22, 1999.
<PAGE>
CUSIP No. 057224107 Page 5 of 7 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
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: March 24, 1999 UNITRIN, INC.
By: /s/ Scott Renwick
-------------------------------
Scott Renwick
Secretary
<PAGE>
CUSIP No. 057224107 Page 6 of 7 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) Senior Vice President, Treasurer &
Chief Financial Officer
- --------------------------------------------------------------------------------------------
Reuben L. Hedlund (3) Director
- --------------------------------------------------------------------------------------------
Jerrold V. Jerome (9) (1) Director
- --------------------------------------------------------------------------------------------
William E. Johnston, Jr. (4) Director
- --------------------------------------------------------------------------------------------
Thomas H. Maloney (1) Vice President
- --------------------------------------------------------------------------------------------
Scott Renwick (9) (1) General Counsel & Secretary
- --------------------------------------------------------------------------------------------
George A. Roberts (5) Director
- --------------------------------------------------------------------------------------------
Fayez S. Sarofim (6) Director
- --------------------------------------------------------------------------------------------
Henry E. Singleton (7) Director
- --------------------------------------------------------------------------------------------
Donald G. Southwell (1) Senior Vice President
- --------------------------------------------------------------------------------------------
Richard C. Vie (9) (1) Chairman, President & Chief
Executive Officer
- --------------------------------------------------------------------------------------------
</TABLE>
(1) One East Wacker Drive, Chicago, Illinois 60601.
(2) Mr. Annable is Senior Vice President of BankOne 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 and a director 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 Chairman of the Board of Trinity Universal Insurance
Company, 10000 North Central Expressway, Dallas, Texas 75231.
(9) See also, Exhibit B filed herewith.
March 24, 1999
<PAGE>
CUSIP No. 057224107 Page 7 of 7 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) Chairman of the Board
- --------------------------------------------------------------------------------------------
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) Senior Vice President
- --------------------------------------------------------------------------------------------
Dorothy A. Langley (2) Vice President & Corporate Counsel
- --------------------------------------------------------------------------------------------
James R. McLane (2) Director, President
- --------------------------------------------------------------------------------------------
Scott Renwick (3) Director
- --------------------------------------------------------------------------------------------
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.
March 24, 1999
