Deals
Buffett Commits $9 Billion for Lubrizol After Train Bet
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Warren Buffett, who made “planes, trains and automobiles” the theme of this year’s annual meeting for his Berkshire Hathaway Inc., is increasing bets on transportation with his $9 billion deal to buy engine lubricant-maker Lubrizol Corp.
Buffett, 80, transformed Berkshire over the last decade by adding shipping and transportation businesses to insurance, energy and consumer-goods units. He has said his bets are based on the expectation that trade will increase with growth of the U.S. economy and that clients will demand energy-efficient technologies as fuel prices climb.