March 14, 2011 – BANGALORE (Reuters) - Warren Buffett's Berkshire Hathaway Inc agreed to acquire specialty chemical company Lubrizol Corp for $9 billion for cash, making it one of the largest acquisitions in its history.
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"Lubrizol is exactly the sort of company with which we love to partner," said Berkshire's Chief Executive Warren Buffett.
Berkshire said it would acquire Lubrizol at $135 per share, about 28 percent premium to Lubrizol's closing price on Friday.
The deal includes assumption of $0.7 billion of debt.
Citi and Evercore Partners are acting as financial advisors to Lubrizol.
(Reporting by Thyagaraju Adinarayan; Editing by Gopakumar Warrier)