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Tara Lachapelle

Warren Buffett's Seal of Approval Doesn't Come Cheap

Occidental Petroleum is the latest company to offer the billionaire sweet terms on an investment, helping it secure a takeover of Anadarko.

Not the “elephant” investors hoped for, but still classic Buffett.

Not the “elephant” investors hoped for, but still classic Buffett.

Photographer: Daniel Acker./Bloomberg

Meet Warren Buffett, everybody’s new favorite banker. 

The investing guru’s conglomerate, Berkshire Hathaway Inc., announced a deal on Tuesday, but not the kind Buffett’s fans have been awaiting. Instead of taking over a company, Berkshire is helping one business go after another. It’s investing $10 billion in Occidental Petroleum Corp. to finance the oil producer’s $55 billion acquisition of Anadarko Petroleum Corp.