The European Commission has cleared the acquisition by Berkshire Hathaway Inc. (BRKA) of US speciality chemical company Lubrizol Corp. (LZ), the EU's antitrust unit said Thursday.

The commission said in a press release its antitrust unit "concluded that the transaction would not raise competition concerns, because of the parties' moderate market shares and the presence of a number of credible competitors in the markets concerned."

-By Laurence Norman, Dow Jones Newswires; 32-(0) 2741-1481; laurence.norman@dowjones.com

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