Lubrizol marks the Oracle's biggest corporate buyout since an epic $35.7 billion play on railroads, announced in 2009, when Berkshire acquired Burlington Northern. The Lubrizol deal also continues a string of industrials and energy purchases for Buffett and Berkshire. Over the last five years, the holding company's takeovers include power generator MidAmerican Energy, the manufacturing conglomerate Marmon Group and the industrial toolmaker Iscar Metalworking. News of Buffet's play for Lubrizol pushed the company's stock very near to the offering price ($135 a share, all cash) as the arbitrage traders poured in. The stock was trading recently $133.97, up 27% from the previous close. Volume, of course, was heavy at 6.6 million shares, more than 10 times the daily average. Still, one couldn't help wondering if Lubrizol's holders felt a little snubbed by the terms of the Berkshire buyout. After all, the deal's structure includes no portion of stock, and Lubrizol holders will receive no coveted Berkshire Hathaway shares. -- Written by Scott Eden in New York >To contact the writer of this article, click here: Scott Eden. >To follow the writer on Twitter, go to http://twitter.com/ScottEden. >To submit a news tip, send an email to: firstname.lastname@example.org.