Scott & Fetzer and Berkshire Hathaway will merge.

Ken Semelsberger, senior vice president of finance and administration for Scott & Fetzer, said Berkshire would be paying about $420 million for Scott & Fetzer’s almost 6.8 million shares of outstanding common stock and will assume the company’s $87 million in long-term debt. There are no plans to change the management at Scott & Fetzer or to move its Westlake, Ohio, headquarters, Semelsberger said.