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The transaction will be settled in cash and is anticipated to finalize in the fourth quarter.
This marks Berkshire's biggest purchase since its $11.6 billion acquisition of the insurer Alleghany in 2022.
The investment firm holds about 27% of Occidental's stock.
Occidental's petrochemical segment, OxyChem, manufactures and markets products utilized, among other applications, for chlorinating water and recycling batteries. The division's earnings for the year ending in June reached almost $5 billion.
source: ft.com
This marks Berkshire's biggest purchase since its $11.6 billion acquisition of the insurer Alleghany in 2022.
The investment firm holds about 27% of Occidental's stock.
Occidental's petrochemical segment, OxyChem, manufactures and markets products utilized, among other applications, for chlorinating water and recycling batteries. The division's earnings for the year ending in June reached almost $5 billion.
source: ft.com
