## Buffett’s Berkshire Hathaway Eyes a $10 Billion OxyChem Deal
Here’s a quick rundown of the latest news surrounding Warren Buffett and Berkshire Hathaway:
- Potential Acquisition: Berkshire Hathaway is reportedly close to a deal to acquire Occidental Petroleum’s petrochemical unit, OxyChem, for approximately $10 billion.
- Largest Deal Since 2022: This could be Berkshire’s largest acquisition since the $11.6 billion purchase of insurer Alleghany in 2022.
- Buffett’s Role: While Warren Buffett, at 95, is stepping down as CEO at the end of 2025, he will remain chairman. His successor, Greg Abel, has a strong energy industry background.
- Occidental Stock: Berkshire already owns a significant stake in Occidental, holding over $11 billion worth of stock (28.2%).
- Historical Investment: Buffett previously helped finance Occidental’s purchase of Anadarko Petroleum in 2019. He began buying Occidental common stock in early 2022.
- Market Reaction: Despite the news, Occidental’s shares fell 1.8% on Tuesday.
For the full details, check out the original story from the Wall Street Journal: [Click here to reach the original WSJ story.](Insert WSJ link here)