Lubrizol For $9.7 Billion

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Warren Buffett’s $9.7 billion deal to buy Lubrizol Corp. (LZ), the Wickliffe, Ohio-based maker of engine lubricants, follows bets by his Berkshire Hathaway Inc. (BRK/A) on cars, trucks, freight railroads and luxury jets.
Berkshire will pay $135 a share in cash, 28 percent more than Lubrizol’s closing price on March 11, Buffett’s firm, based in Omaha, Nebraska, said in a statement today.
Buffett, 80, has transformed Berkshire over the last decade to add shipping and transportation businesses to the firm’s insurance, energy and consumer-goods units. His $26.5 billion purchase of Burlington Northern Santa Fe last year gave Berkshire the second-biggest U.S. railroad. He bought 9.9 percent of Chinese carmaker of BYD Co. and in 2008, and in 2003 he added McLane Co., the distributor of grocery products.

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