Lubrizol shareholders approve acquisition by Berkshire Hathaway

Lubrizol Corp. shareholders agreed to the acquisition of the company by Berkshire Hathaway for US$135 per share in an all-cash transaction on June 24. In addition to the approval of shareholders, completion of the transaction is subject to satisfaction of customary closing conditions. The transaction is projected to close in the third quarter. After the close of the transaction, Lubrizol will remain headquartered in Wickliffe, Ohio, and will continue to be led by its current CEO, James L. Hambrick. Lubrizol is a specialty chemical company that produces and supplies technologies to customers in the global transportation, industrial and consumer markets. These technologies include lubricant additives for engine oils, other transportation-related fluids and industrial lubricants, as well as fuel additives for gasoline and diesel fuel. (June 24,2011)