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Buffett’s Berkshire Hathaway Seeks to Buy as Much as 50% of Occidental

  • FERC authorizes July application for stock purchases
  • The conglomerate has been buying up Occidental shares
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Berkshire May Buy as Much as 50% of Occidental Stock
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Warren Buffett’s Berkshire Hathaway Inc. won approval from US regulators to buy as much as 50% of Occidental Petroleum Corp. after spending months snapping up its shares. Occidental’s stock had its biggest gain in five months.

The Federal Energy Regulatory Commission said in a filing published Friday that Berkshire’s proposed stock purchases are “consistent with the public interest.” Berkshire applied for the authorization on July 11, FERC said.