Welcome Guest to Coatings World    Login || Register
Last Updated Saturday, December 20 2014
Print

Berkshire Hathaway acquires Lubrizol



Signs agreement to acquire 100 percent of Lubrizol shares.



Published March 16, 2011
Berkshire Hathaway Inc. and The Lubrizol Corporation have formed a definitive agreement for Berkshire Hathaway to acquire 100 percent of outstanding Lubrizol shares for $135 per share in an all-cash transaction. The transaction, which was unanimously approved by the board of directors of each company, is valued at approximately $9.7 billion, including approximately $0.7 billion in net debt, making it one of the largest acquisitions in Berkshire Hathaway history. This price represents a 28 percent premium over Lubrizol's latest closing price and is also 18 percent higher than Lubrizol's all-time high share closing price.

"Lubrizol is exactly the sort of company with which we love to partner. A global leader in several market applications run by a talented CEO, James Hambrick," said Warren Buffett, Berkshire Hathaway CEO. "Our only instruction to James is to just keep doing for us what you have done so successfully for your shareholders."

After the close of the transaction, Lubrizol will operate as a subsidiary of Berkshire Hathaway and will remain located at its Wickliffe, Ohio, headquarters and will continue to be led by its current management team.

blog comments powered by Disqus
Receive free Coatings World emails
Sign up now to receive the weekly newsletter, and more!

Enter your email address:
Company Spotlight
Siltech Corporation
225 Wicksteed Avenue
Toronto, ON, M4H 1G5
Canada
View Profile
BASF Corporation
100 Campus Drive
Florham Park, NJ, 07932
US
View Profile
Houchi Chemical Co., Ltd
No.56, Fu Chow Street
Taipei, Taipei, 100
Taiwan
View Profile
Lubrizol Advanced Materials, Inc.
9911 Brecksville Road
Cleveland, OH, 44141
US
View Profile
Sunin Machine Co., Ltd.
No.96, Chiao Ho Rd ,Chungho Dist
New Taipei City, Taiwan , 235
Taiwan Roc
View Profile
Micro Powders, Inc.
580 White Plains Rd.
Tarrytown, NY, 10591
US
View Profile
AZ Electronic Materials Co., Ltd.
No. 458-6, Sinsing Road Hu Kou Township Hsinchu Country 303, Taiwan
Hsinchu Country, Taiwan, 303
Taiwan
View Profile
Keeneyes
18F, No.85, Sec. 1, Chung-Shiao E. Rd.
Taipei, Taiwan, 100
R.O.C.
View Profile
Shamrock Technologies, Inc.
Foot of Pacific Street
Newark, NJ, 07114
USA
View Profile
Follow Coatings World On