Warren Buffett is reportedly eyeing Berkshire Hathaway’s biggest deal in three years

Warren Buffett is reportedly eyeing Berkshire Hathaway’s biggest deal in three years


In this article

  • BRK.B
  • OXY
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2025.
CNBC

Warren Buffett’s Berkshire Hathaway is closing in on a deal to buy Occidental Petroleum’s petrochemical unit OxyChem for roughly $10 billion, the Wall Street Journal reported Tuesday.

The potential deal, which could finalize within days per the Journal, could be Berkshire’s largest since 2022 when it bought insurer Alleghany for $11.6 billion. That deal was announced in March of that year and completed in October 2022. Berkshire is sitting on a record cash hoard of $344 billion.

Buffett, 95, is stepping down as Berkshire CEO at the end of 2025, but he will remain as chairman. Buffett’s successor Greg Abel, who was CEO of Berkshire Hathaway Energy, is known for his strong expertise in the energy industry.

Shares of Houston-based energy company fell 1.8% Tuesday despite WSJ’s report.

The Omaha-based conglomerate owned more than $11 billion worth of Occidental stock, or a 28.2% stake. The 95-year-old Buffett previously said he wouldn’t take full control of the oil company, founded by legendary oilman Armand Hammer.

In 2019, Buffett helped bankroll Occidental’s purchase of Anadarko Petroleum with a $10 billion commitment, receiving preferred shares and warrants to buy common stock in return. 

The billionaire investor started buying Occidental common stock in the open market in early 2022 after reading a transcript of the oil company’s earnings conference call. He took advantage of the heightened volatility in the Covid pandemic to scoop up the shares at a discount.

Occidental also pays a 2% dividend yield and has been investing in a carbon capture business.

— Click here to reach the original WSJ story.



Source

Stocks making the biggest moves after hours: Intel, Ford, Deckers, Newmont and more
Finance

Stocks making the biggest moves after hours: Intel, Ford, Deckers, Newmont and more

Check out the companies making headlines in after-hours trading. Alphabet — Shares of search engine giant Alphabet ticked 1% higher after Anthropic and Google officially announced their cloud partnership Thursday. The deal, worth tens of billions of dollars, gives Anthropic access up to one million of Google’s custom-designed Tensor Processing Units, or TPUs. Ford Motor […]

Read More
Stocks making the biggest moves midday: Super Micro, Knight-Swift, Wyndham, Las Vegas Sands, Hexcel and more
Finance

Stocks making the biggest moves midday: Super Micro, Knight-Swift, Wyndham, Las Vegas Sands, Hexcel and more

Check out the companies making the biggest moves midday: Super Micro Computer — The computer server manufacturer slumped 7% after cutting its fiscal first-quarter revenue forecast to about $5 billion from a prior estimate of $6 billion to $7 billion. Quantum computing stocks — Quantum computing shares jumped on a Wall Street Journal report that […]

Read More
With stock market concentration risk at peak, ‘cash, precious metals, and crypto’ is new normal
Finance

With stock market concentration risk at peak, ‘cash, precious metals, and crypto’ is new normal

ETF Edge With stock market concentration risk at peak, ‘cash, precious metals, and crypto’ is new normal Published Thu, Oct 23 202512:42 PM EDTUpdated 19 Min Ago Krysta Escobar WATCH LIVE Source

Read More