Deals
Gulf Oil to Buy Chemical-Maker Houghton for $1.05 Billion
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Gulf Oil Corp., controlled by the billionaire Hinduja brothers, agreed to buy Houghton International Inc. for $1.05 billion in the second-biggest acquisition planned by an Indian company this year.
Gulf Oil agreed to buy Houghton, whose chemicals and lubricants are used in the metalworking and automotive industries, from a U.S.-based private-equity fund, the Hyderabad, India-based company said in an exchange filing today. New York-based private-equity firm AEA Investors LP bought Houghton in 2007.