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Buffett’s Lubrizol Deal Unaltered by Sokol Exit, Hambrick Says

Lubrizol CEO James Hambrick
James Hambrick, chairman, president and chief executive officer of Lubrizol Corp. Source: Lubrizol Corp. via Bloomberg

March 31 (Bloomberg) -- 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.

David Sokol’s departure from Omaha, Nebraska-based Berkshire doesn’t “in any way alter the terms or the timing of our proposed transaction,” Lubrizol Chief Executive Officer James Hambrick said today in a regulatory filing. “We are continuing to work with Berkshire Hathaway to complete the merger as quickly as possible.”

To contact the reporter on this story: Andrew Frye in New York at afrye@bloomberg.net

To contact the editor responsible for this story: Dan Reichl at dreichl@bloomberg.net

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