Lubrizol shareholders approve acquisition by Berkshire Hathaway

09 June 2011 15:13  [Source: ICIS news]

HOUSTON (ICIS)--Shareholders of Lubrizol have approved the $135/share takeover bid by Warren Buffett’s Berkshire Hathaway, the US-based specialty chemicals firm said on Thursday.

About 95% of votes cast at a special meeting backed the $9.7bn (€6.7bn) deal, which was first announced in March.

Lubrizol said it expects the transaction to close in the third quarter of 2011.

The company will remain headquartered in Wickliffe, Ohio, and will continue to be led by CEO James Hambrick, it said.

For more on Lubrizol and other producers, visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index