Energy
Buffett’s Berkshire Nears Deal to Buy OxyChem for $10 Billion
The Occidental Petroleum Headquarters in The Woodlands, Texas.
Photographer: Brandon Bell/Getty ImagesWarren Buffett’s Berkshire Hathaway Inc. is nearing a deal to acquire Occidental Petroleum Corp.’s petrochemical business for about $10 billion, according to a person familiar with the matter.
The transaction could be announced in coming days, the person said, asking not to be identified because the talks are confidential. It would be Berkshire’s largest deal since its acquisition of Alleghany Corp. in 2022 for $13.7 billion, according to data compiled by Bloomberg.