Lubrizol Shareholders Approve Acquisition
The Lubrizol Corp. recently announced that its shareholders overwhelmingly approved the acquisition of the company by Berkshire Hathaway for $135 per share in an all-cash transaction. Approximately 95% of the votes cast, in person or by proxy, voted in favor of the merger. In total, 49.4 million (77%) of the shares outstanding as of the April 27 record date were represented at the special meeting, constituting a quorum. The adoption of the merger agreement required an affirmative vote of a simple majority of the Lubrizol common shares outstanding.
“With this approval, we are one step closer to becoming a wholly owned subsidiary of Berkshire Hathaway,” said James L. Hambrick, Lubrizol chairman, president, and CEO. “I am excited about the future of Lubrizol. The acquisition leaves us well-positioned to continue executing our growth agenda, which includes geographic expansion, product innovation, investment in infrastructure and complementary acquisitions."
For more information, visit www.lubrizol.com.
“With this approval, we are one step closer to becoming a wholly owned subsidiary of Berkshire Hathaway,” said James L. Hambrick, Lubrizol chairman, president, and CEO. “I am excited about the future of Lubrizol. The acquisition leaves us well-positioned to continue executing our growth agenda, which includes geographic expansion, product innovation, investment in infrastructure and complementary acquisitions."
For more information, visit www.lubrizol.com.
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