Does Buffett's Latest $9.7 Billion Deal Create a Buying Opportunity for Occidental and Berkshire Stock?

Just before Warren Buffett retires as the CEO of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) later this year, the company has struck its biggest deal in three years. On Oct. 2, Berkshire Hathaway announced an agreement to acquire Occidental Petroleum's (NYSE: OXY) chemical unit, OxyChem, for $9.7 billion in an all-cash deal. The deal is set to close in the fourth quarter.Berkshire has been buying shares in Occidental Petroleum hand over fist since first investing $10 billion in its preferred shares and warrants in August 2019 to fund Occidental's Anadarko acquisition. By August 2025, Berkshire had accumulated a 32.7% stake in Occidental, and the oil and gas stock became the sixth-largest holding in Berkshire's portfolio.While many expected Berkshire to eventually acquire full control of Occidental, it is instead targeting only OxyChem, a leading manufacturer of chemicals like caustic soda, chlorine, and vinyls.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool