BerkshireHathaway will acquire U.S. lubricant additives producer, Lubrizol. The Warren Buffett-controlled holding company will pay around $9.7 billion in cash for the acquisition.
The transaction is expected to be completed in the third quarter of this year. Citigroup and Evercore Partners were appointed as financial advisers by Ohio-based Lubrizol for the deal, while Berkshire’s transaction counsel is Munger, Tolles & Olson.
Click here for the release from Berkshire Hathaway.