Tags: Lubrizol | Shareholders | Approve | Berkshire | Deal

Lubrizol Shareholders Approve Berkshire Deal

Friday, 10 Jun 2011 08:07 AM

A majority of Lubrizol shareholders support Berkshire Hathaway Inc.'s $9 billion offer to buy the specialty chemical company for $135 cash per share.

Lubrizol held a special shareholder meeting Thursday, and 95 percent of the votes cast supported selling Lubrizol to Warren Buffett's Omaha-based conglomerate.

The deal that was announced in March also includes Berkshire assuming about $700 million in Lubrizol debt.

Lubrizol's Chairman and CEO James Hambrick says this deal will put the chemical company in a good position to continue growing.

If regulators approve, the deal should close in the third quarter. Lubrizol is expected to keep its Wickliffe, Ohio, headquarters and current management.

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A majority of Lubrizol shareholders support Berkshire Hathaway Inc.'s $9 billion offer to buy the specialty chemical company for $135 cash per share. Lubrizol held a special shareholder meeting Thursday, and 95 percent of the votes cast supported selling Lubrizol to Warren...
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Friday, 10 Jun 2011 08:07 AM
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