Berkshire Hathaway acquired The Lubrizol Corporation for Approximately $9.7 billion including ~$0.7 billion net debt ($135 per share), a transaction completed in September 2011, structured as all cash.
The Lubrizol Corporation operates in Specialty chemicals, is based in Wickliffe, Ohio. Berkshire agreed to acquire 100% of Lubrizol, a specialty-chemicals maker and global leader in lubricant additives, for $135 per share in cash, a roughly 28% premium, in a deal valued at about $9.7 billion including net debt. Lubrizol kept its headquarters in Wickliffe, Ohio and CEO James Hambrick continued to run the business.
Buffett praised Lubrizol as a global market leader run by a talented CEO and told management simply to keep doing what had worked.
Global leadership in high-margin lubricant additives with a strong management team.
Lubrizol is exactly the sort of company with which we love to partner - the global leader in several market applications run by a talented CEO, James Hambrick. Our only instruction to James - just keep doing for us what you have done so successfully for your shareholders.Warren Buffett, Chairman and CEO, Berkshire Hathaway
Advisory firms were not disclosed for this transaction.