Berkshire Hathaway acquires Phillips 66 flow improver business

Berkshire Hathaway Inc.

Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B) is acquiring Phillips Specialty Products Inc., a flow improver business, from Phillips 66.

In exchange for the share capital of the wholly owned subsidiary, Phillips 66 will receive shares of Phillips 66 common stock currently held by Berkshire Hathaway. The specific number of shares will be determined by the share price at deal closing.

The transaction is expected to close in the first half of 2014.

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