Billionaire Warren Buffett's Berkshire Hathaway said on March 14 that it is buying chemicals group Lubrizol for $9.7 billion, just days after he said he was "itchy" to do more deals.
Berkshire Hathaway will pay $135 per share for Lubrizol Corp shares, a 28% premium to their closing price on March 11. The deal includes some $700 million in debt.
A joint statement said the all-cash transaction makes "it one of the largest acquisitions in Berkshire Hathaway history."
"Lubrizol is exactly the sort of company with which we love to partner," Buffett said.
Copyright Agence France-Presse, 2011
See Also
Buffett Ready for More Takeovers
About the Author
Agence France-Presse
Copyright Agence France-Presse, 2002-2025. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.