US EditionWarren Buffett's Berkshire Hathaway Near $10 Billion Deal for Occidental’s Petrochemical Unit, WSJ Reports
Berkshire Hathaway targets Occidental’s OxyChem unit, generating nearly $5 billion in revenue, marking its largest acquisition since 2022, according to the Wall Street Journal.
- The Wall Street Journal reported Tuesday that Berkshire Hathaway is closing in on a roughly $10 billion deal to buy Occidental Petroleum’s petrochemical unit OxyChem, with the sale possibly finalizing within days.
- Berkshire Hathaway is sitting on a record $344 billion cash hoard and previously accumulated more than $11 billion of Occidental Petroleum stock, a 28.2% stake.
- Shares fell 1.8% Tuesday while Occidental Petroleum pays a 2% dividend and is investing in a carbon capture business.
- The potential purchase could be Berkshire’s largest since 2022 when it bought insurer Alleghany for $11.6 billion, underscoring the deal’s scale, the Journal reported.
- With Buffett remaining chairman, Greg Abel’s energy background may shape future deals as Warren Buffett, 95, steps down as Berkshire CEO at the end of 2025, the Journal reported.
29 Articles
29 Articles
The billionaire would be in the process of buying OxyChem, a Western Petroleum branch, of which he is already the main shareholder. ...
The Berkshire Hataway investment company held by Warren Buffett is nearing the conclusion of an agreement for the purchase of the OxyChem petrochemical division from the West Petroleum for about $10 billion, reports CNBC. Possible transaction, revealed...
Berkshire Hathaway in Talks to Buy Occidental’s Chemicals Business
Berkshire Hathaway is negotiating the acquisition of the petrochemicals business of Occidental Petroleum in a deal that could fetch $10 billion for the oil major, the Wall Street Journal has reported, citing unnamed people familiar with the talks. According to these people, the deal could close in a few days, with WSJ noting that if closed, the deal would be Berkshire Hathaway’s largest acquisition since 2022, when it paid $11.6 billion for insu…
The investment vehicle of billionaire Warren Buffett, Berkshire Hathaway, has talks to get to the petrochemical subsidiary of Occidental Petroleum (Oxy) for about 10 billion dollars, the equivalent of about 8.5 billion euros to the current change, as has advanced this Tuesday The Wall Street Journal. If it were to be realized, it would be the largest operation of the conglomerate founded by the Oracle of Omaha since 2022.The actions of the energ…
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