Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) and The Lubrizol Corporation (NYSE: LZ) today announced the completion of the acquisition of Lubrizol for $135 per share in an all-cash transaction. The transaction, having been overwhelmingly approved by Lubrizol shareholders and having met all U.S. and non-U.S. regulatory filing requirements, is valued at approximately $9.7 billion, including approximately $0.7 billion in net debt. The transaction was announced on March 14, 2011. “Lubrizol is a great addition to the Berkshire Hathaway family of companies,” said Warren Buffett, Berkshire Hathaway chief executive officer. “We expect to see continued strong performance from the company as it executes its growth strategies.” James Hambrick, Lubrizol chairman, president and chief executive officer, said, “As part of Berkshire Hathaway, we have real and significant opportunities to continue creating customer value by providing complex and innovative chemistries, formulations and solutions for some of the most demanding performance applications in the world.” Hambrick also noted that the culture and corporate philosophy established by Lubrizol’s founders remains intact. “With little change to daily activities, Lubrizol employees remain committed to maintaining the industry-leading expertise and technical skills required to meet the needs of our customers.” With the closing of this transaction, Lubrizol is now a wholly-owned subsidiary of Berkshire Hathaway, providing innovative technology, outstanding service and superior global supply chain support to its customers. Lubrizol’s international headquarters remain located in Wickliffe, Ohio and the company continues to be led by Hambrick. About Berkshire Hathaway Berkshire Hathaway and its subsidiaries engage in diverse business activities including property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. Berkshire’s common stock is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B. About The Lubrizol Corporation The Lubrizol Corporation (NYSE: LZ) is an innovative specialty chemical company that produces and supplies technologies to customers in the global transportation, industrial and consumer markets. These technologies include lubricant additives for engine oils, other transportation-related fluids and industrial lubricants, as well as fuel additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for personal care products and pharmaceuticals; specialty materials, including plastics technology and performance coatings in the form of specialty resins and additives. Lubrizol’s industry-leading technologies in additives, ingredients and compounds enhance the quality, performance and value of customers’ products, while reducing their environmental impact.