Warren Buffett’s Berkshire Hathaway announced that it will pay $4.5 billion for 60 percent of Marmon Holdings Inc., a private company of more than 125 manufacturing and service businesses.

Berkshire Hathaway Inc. plans to acquire the remaining 40 percent of Marmon over the next five to six years depending on future earnings of Marmon, according to a statement released Tuesday by both companies.

Marmon is owned by trusts for the benefits of the Pritzker family of Chicago, the family that developed the Hyatt Hotel chain. The deal is expected to close in the first quarter of 2008.

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