OMAHA, Nebraska (AP) — If Warren Buffett’s deal to buy
specialty chemical company Lubrizol Corp. falls apart, Buffett’s Berkshire
Hathaway Inc. will receive $200 million.
Lubrizol revealed the break-up fee for the $9 billion deal
Tuesday in documents filed with the Securities and Exchange Commission. The
companies announced the cash deal, which includes about $700 million in debt,
on Monday.
Lubrizol says it agreed to the deal with Omaha-based Berkshire on Sunday.
If regulators and Lubrizol shareholders approve the $135 per
share offer, the companies expect Lubrizol to become a Berkshire
subsidiary sometime in the third quarter.
Lubrizol, based in Wickliffe,
Ohio, makes chemicals for pharmaceutical
companies, fuel additives for gasoline and diesel and other ingredients for the
transportation sector.
