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EX-99.1 - EX-99.1 - Baker Hughes Holdings LLC | h72182exv99w1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): April 27, 2010
Baker Hughes Incorporated
(Exact name of registrant as specified in charter)
Delaware (State of Incorporation) |
1-9397 (Commission File No.) |
76-0207995 (I.R.S. Employer Identification No.) |
2929 Allen Parkway, Houston, Texas (Address of Principal Executive Offices) |
77019 (Zip Code) |
Registrants telephone number, including area code: (713) 439-8600
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation
of the registrant under any of the following provisions:
þ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On
April 27, 2010, Baker Hughes Incorporated (Baker Hughes) and BJ Services Company (BJ
Services) jointly issued a news release announcing that Baker Hughes and BJ Services have reached
a final agreement with the Antitrust Division of the U.S. Department of Justice (DOJ) in
connection with the governmental approval of the pending merger between the two companies. This
agreement with the DOJ includes a Proposed Final Judgment and a Hold Separate
Stipulation and Order, which have been filed with the Federal
District Court in Washington, D.C. along with other related documents.
Having already obtained stockholder approval, Baker Hughes and BJ Services expect to close the
merger before the end of this week following the expected
acknowledgment of the Proposed Final Judgement and entry of the Hold
Separate Order by the Federal District Court,
subject to the other closing conditions. The news release is attached hereto as Exhibit 99.1 and
is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits. (Information furnished in this Item 9.01 is
furnished pursuant to Item 9.01.)
(d) | Exhibits. | ||
99.1 Joint News Release of Baker Hughes Incorporated and BJ Services Company dated April 27, 2010. |
Forward-Looking Statements
Except for the historical information set forth in this document, the matters discussed in this
document are forward-looking statements that involve certain assumptions and known and unknown
risks, uncertainties and other factors that could cause our actual results to differ materially.
Such forward-looking statements include, but are not limited to, whether the Federal District Court
will acknowledge such Proposed Final Judgment and enter the Hold
Separate Stipulation and Order to complete the merger at all or without restrictions
or conditions that would be detrimental or have a materially adverse effect on the combined company
after the merger is completed, whether the merger will be consummated, and other statements that
are not historical facts. There can be no assurance that all of the conditions to complete the
merger will be satisfied. The following additional factors, among others, could cause actual
results to differ from those set forth in the forward-looking statements: the risk that the cost
savings and any other synergies from the transaction may not be realized or take longer to realize
than expected; disruption from the transaction making it more difficult to maintain relationships
with customers, employees or suppliers; the ability to successfully integrate the businesses;
unexpected costs or unexpected liabilities that may arise from the transaction, whether or not
consummated; the timing, proceeds and impact of the DOJ required
divestiture of assets used in the sand control and stimulation services
business in the U.S. Gulf of Mexico; the inability to retain key personnel; continuation or deterioration of current market
conditions; the outcome of any litigation; future regulatory or legislative actions that could
adversely affect the companies; and the business plans of the customers of the respective parties.
Additional factors that may affect future results are contained in Baker Hughes and BJ Services
filings with the Securities and Exchange Commission (the SEC), which are available at the SECs
web site at www.sec.gov. Except as required by law, neither Baker Hughes nor BJ Services intends to
update or revise statements contained in these materials based on new information, future events or
otherwise.
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Additional Information and Where to Find It
These materials are not a substitute for the Registration Statement that Baker Hughes filed with
the SEC in connection with the proposed transaction with BJ Services, or the definitive joint proxy
statement/prospectus sent to security holders of Baker Hughes and BJ Services on or about February
16, 2010 seeking their approval of the proposed transaction. INVESTORS AND SECURITY HOLDERS OF
BAKER HUGHES AND BJ SERVICES ARE URGED TO CAREFULLY READ THE DEFINITIVE JOINT PROXY
STATEMENT/PROSPECTUS DATED FEBRUARY 12, 2010, WHICH WAS SENT TO SECURITY HOLDERS OF BAKER HUGHES
AND BJ SERVICES ON OR ABOUT FEBRUARY 16, 2010, AS IT CONTAINS IMPORTANT INFORMATION, INCLUDING
DETAILED RISK FACTORS. Investors and security holders may obtain a free copy of the proxy
statement/prospectus and other documents filed by Baker Hughes and BJ Services with the SEC at the
SECs web site at www.sec.gov. This document does not constitute an offer to sell, or a
solicitation of an offer to buy, any shares of Baker Hughes or BJ Services common stock.
The definitive joint proxy statement/prospectus and such other documents (relating to Baker Hughes)
may also be obtained from Baker Hughes for free from Baker Hughes web site at
www.bakerhughes.com/investor or by directing a request to: Baker Hughes Incorporated, 2929 Allen
Parkway, Suite 2100, Houston, TX 77019, Attention: Corporate Secretary, or by phone at (713)
439-8039. The definitive joint proxy statement/prospectus and such other documents (relating to BJ
Services) may also be obtained from BJ Services for free from BJ Services web site at
www.bjservices.com or by directing a request to: BJ Services Company, P.O. Box 4442, Houston, Texas
77210-4442, Attention: Investor Relations, or by phone at (713) 462-4239.
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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 |
||||
Dated: April 27, 2010 | By: | /s/ William D. Marsh | ||
William D. Marsh | ||||
Assistant Secretary and Deputy General Counsel |
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EXHIBIT INDEX
Exhibit No. | Description | |
Exhibit 99.1
|
Joint News Release of Baker Hughes Incorporated and BJ Services Company dated April 27, 2010. |
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