IHS Chemical Week

People & Business :: Earnings/Finance

Lubrizol Shareholders Approve Berkshire Deal

6:50 PM MDT | June 9, 2011 | Vincent Valk

About 95% of Lubrizol shareholders have voted to approve the $135/share takeover of the company by Berkshire Hathaway, Warren Buffet's investment firm, Lubrizol says. A total of 49.4 million shares, or 77% of all shares outstanding as of April 27, were represented at a special meeting of the company's shareholders held today. Shares in Lubrizol closed at $134.30 on June 8, with 64.29 million shares outstanding.   Berkshire Hathaway's $9.7 billion acquisition of Lubrizol was announced in March. "With this approval, we are one step closer to becoming a...

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