Lubrizol Chief Executive Officer James Hambrick, who sold the chemical-additives maker to Warren Buffett’s Berkshire Hathaway Inc. last year, told Fox Business News that business is pressured by declines in Europe.
Lubrizol Corp. said its sale to Berkshire Hathaway Inc. will be completed “as quickly as possible” and is unaltered by the resignation of a senior executive who helped Warren Buffett negotiate the takeover.
Warren Buffett stole headlines when he committed $12.1 billion in a deal to take ketchup maker HJ Heinz Co. private this year. Managers at his Berkshire Hathaway Inc. spent as much in 2012 while attracting less attention.
Berkshire Hathaway Inc. former manager David Sokol exercised poor judgment yet may not have broken insider-trading laws by buying stock in a company he later proposed as a takeover target to Chairman Warren Buffett , legal experts said.
Lubrizol Corp ., the engine- additives maker selling itself to Warren Buffett ’s Berkshire Hathaway Inc., said Chief Executive Officer James Hambrick is committed to running the business for “several more years.”