OMAHA/CLEVELAND – Berkshire Hathaway Inc. and The Lubrizol Corp. announced a definitive agreement for Berkshire Hathaway to acquire 100 percent of outstanding Lubrizol shares for $135 per share in an all-cash transaction. The transaction is valued at approximately $9.7 billion, including approximately $0.7 billion in net debt, making it one of the largest acquisitions in Berkshire Hathaway history. It is expected to be completed during the third quarter of 2011. After the close of the transaction, Lubrizol will operate as a subsidiary of Berkshire Hathaway and will continue to be led by its current management team.