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Berkshire Hathaway to Buy Lubrizol

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3/22/2011 8:20:00 AM

Berkshire Hathaway will acquire Lubrizol Corp., the world’s largest producer of lubricant additives, the companies said.

Berkshire will pay about $9 billion, or $135 a share in cash, Bloomberg reported.

The companies expect the purchased to close in the third quarter of this year, they said March 11 in announcing the deal. Lubrizol will operate as a subsidiary of Berkshire.

The deal is the second-largest for Berkshire since 2006, Bloomberg said. In 2009, it said it would acquire railroad Burlington Northern Santa Fe.

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