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Berkshire Hathaway to acquire Lubrizol
15 March 2011: Berkshire Hathaway is likely to acquire speciality chemicals entity Lubrizol in a $9.7 billion (approx Rs 43,650 crore) deal.
The buyout of Lubrizol, approved by the boards of both companies includes debt worth $700 million (approx Rs 3,150 crore) Lubrizol has presence in 17 countries, including India. Both entities have entered into a definitive agreement for the all-cash transaction, which is expected to close in the third quarter of 2011. Once complete, Lubrizol will operate as a subsidiary of Berkshire Hathaway.
Source: Hindu Business Line