25 August 2011 10:26 [Source: ICIS news]
LONDON (ICIS)--The European Commission has cleared the ?xml:namespace>
The Commission had been examining potential regional competition issues arising from the acquisition, which will cost Berkshire Hathaway around $9.7bn (€6.7bn).
“The Commission… concluded that the transaction would not significantly impede effective competition within the European Economic Area,” the Commission said in a statement.
The Warren Buffett-led industrial conglomerate offered to pay $135 per share for Lubrizol in March, valuing it at $9bn. The deal also includes the assumption of Lubrizol’s $700m debt pile.
Lubrizol has previously said that it expects the transaction to close in the third quarter of 2011. The company will remain headquartered in
($1 = €0.69)
For more on Lubrizol visit ICIS company intelligence
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