FX.co ★ The Buffet Company will buy a chemical corporation for 9.7 billion dollars

The Berkshire Hathaway Holding belonging to an American billionaire Warren Buffett has made a deal for buying 100 percent of shares of the Lubrizol Corporation, the manufacturer of chemical raw materials. It is written in the Berkshire Hathaway’s formal press release. The amount of the deal will be 9.7 billion dollars. This sum also includes the Lubrizol’s dept, which forms 700 million dollars. In the Berkshire Hathaway's report it is said that the company will pay 135 dollars price for one Lubrizol’s share. It is 28 per cent higher than the Corporation’s share price at the moment of the tender closing on March, 11th. It is supposed that the deal between the Berkshire Hathaway and the Lubrizol will be closed in the third quarter of 2011. It was already approved by both companies’ boards of directors. It is reported that the management of the Lubrizol will stay the same. This deal will be one of the most outstanding in the Buffett Fund’s history. However, the biggest sum of money - 26 billion dollars - the Berkshire Hathaway had paid for 77.4 per cent of the American Railway shares in 2009. The Lubrizol is one of the largest chemical raw materials manufacturers in the USA. In 2010 the Company’s profit was more than 5.4 billion dollars. It has more than 6.8 thousand employees.