Berkshire Hathaway to buy Lubrizol for $9 billion

Industrials Reuters

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)