Lubrizol could pay US$200 million if it walks away from Berkshire deal

Wickliffe, Ohio-based Lubrizol Corp. said it could have to pay a US$200 million break-up fee if it walks away from its US$9 billion deal to sell itself to Berkshire Hathaway Inc. The petroleum additive manufacturer would have to pay the fee if it cancels the deal because it has received a superior bid or if its shareholders fail to approve the bid or if its board of directors withdraws or changes its recommendation of the acquisition, the company said in a filing with the U.S. Securities and Exchange Commission. Berkshire struck the deal to buy Lubrizol for US$135 a share in cash on March 14. (March 15,2011)