Lubrizol Deal Has $200 Million Breakup Fee
Lubrizol it could have to pay a $200 million breakup fee if it walks away from its $9 billion deal to sell itself to Warren Buffett's Berkshire Hathaway.
The lubricant maker would have to pay the fee if it cancels the deal because it has received a superior bid, the company said on Tuesday in a filing with the Securities and Exchange Commission.
Other scenarios where Lubrizol would be on the hook for the fee include if its shareholders fail to approve the bid or if its board of directors withdraws or changes its recommendation of the acquisition.
Berkshire struck the deal to buy Lubrizol for $135 a share in cash on Monday in a bet on industrial growth in emerging economies, SCANA Corp, Joe Lieberman, Democratic Senator Jeff Bingaman, Three Mile Island, Japan nuclear crisis, Japan earthquake, Japan tsunami,
