OMAHA (dpa-AFX) - Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRKA) has completed its acquisition of lubricant maker Lubrizol Corp. (LZ) for $135 per share in an all-cash deal, the companies said Friday.
The deal, which was announced in March, is valued at about $9.7 billion, including about $0.7 billion in net debt.
With the closing of the deal, Lubrizol is now a wholly-owned subsidiary of Berkshire Hathaway. Lubrizol's international headquarters remain located in Wickliffe, Ohio and the company continues to be led by James Hambrick.
'Lubrizol is a great addition to the Berkshire Hathaway family of companies,' said Warren Buffett, Berkshire Hathaway chief executive officer. 'We expect to see continued strong performance from the company as it executes its growth strategies.'
Copyright RTT News/dpa-AFX
