Berkshire Hathaway Inc. and The Lubrizol Corp. recently announced the completion of the acquisition of Lubrizol for $135 per share in an all-cash transaction. The transaction, having been approved by Lubrizol shareholders and having met all U.S. and non-U.S. regulatory filing requirements, is valued at approximately $9.7 billion, including approximately $0.7 billion in net debt.
“Lubrizol is a great addition to the Berkshire Hathaway family of companies,” said Warren Buffett, CEO of Berkshire Hathaway. “We expect to see continued strong performance from the company as it executes its growth strategies.”
“As part of Berkshire Hathaway, we have real and significant opportunities to continue creating customer value by providing complex and innovative chemistries, formulations, and solutions for some of the most demanding performance applications in the world,” said James Hambrick, chairman, president and CEO of Lubrizol. “With little change to daily activities, Lubrizol employees remain committed to maintaining the industry-leading expertise and technical skills required to meet the needs of our customers.”
Lubrizol’s international headquarters remain located in Wickliffe, Ohio, and the company continues to be led by Hambrick. For more information, visitwww.lubrizol.comor www.berkshirehathaway.com.
Berkshire Hathaway Completes Lubrizol Acquisition
September 26, 2011