Warren Buffett. (Mandel Ngan/AFP/Getty Images)

Warren Buffett’s investment company, Berkshire Hathaway, said Monday that it has agreed to buy the chemical company Lubrizol for $9.7 billion.

Berkshire Hathaway and Lubrizol said the deal was for 100 percent of all outstanding shares at $135 per share. That’s a 28 percent premium over Lubrizol’s closing price on Friday of $105.44 per share, and is 18 percent higher than the company’s highest-ever closing price, according to the companies.

The deal includes $700 million in assumed debt.

Berkshire described the deal as “one of the largest acquisitions in Berkshire Hathaway history.“ Get the full story »