All articles tagged with #oxychem
Buffett, in the final stretch of Berkshire Hathaway's leadership, says he's ready to spend as much as $100 billion on a truly sizable deal, but finds no 2025 opportunities at sensible prices despite a record $381.6 billion cash pile; Berkshire did close the $9.7 billion OxyChem acquisition, and new CEO Greg Abel will face pressure to deploy capital as shares lag.
At 95, Warren Buffett demonstrates his continued prowess in dealmaking with a $10 billion investment in OxyChem, reaffirming his status as a leading investor and dealmaker.
Berkshire Hathaway's nearly $10 billion purchase of Occidental's chemicals business is seen as a strategic, win-win move that could be Buffett's final major deal, boosting Berkshire's stake and helping Oxy reduce debt, while potentially signaling the end of Buffett's active dealmaking before his retirement.
Occidental Petroleum is selling its chemicals division, OxyChem, to Berkshire Hathaway for $9.7 billion to reduce debt following costly acquisitions, with plans to use most of the proceeds to lower its debt below $15 billion and refocus on its core oil and gas business.
Warren Buffett's Berkshire Hathaway made a $9.7 billion all-cash acquisition of OxyChem from Occidental Petroleum, which also owns a 27% stake in Occidental. The deal aims to strengthen Occidental's balance sheet, reduce debt, and enable share buybacks, while Buffett's involvement signals confidence in the deal's strategic value. Stock prices of Occidental and Berkshire reacted modestly to the news, with some analyst adjustments.
Berkshire Hathaway is set to acquire Occidental Petroleum’s chemical division, OxyChem, for $9.7 billion in an all-cash deal, expected to close in Q4 2025. This is Berkshire's largest deal since 2022 and aims to strengthen Occidental's financial position as it reduces debt. Occidental's stock fell 6% following the announcement, while Berkshire's shares declined slightly.
Berkshire Hathaway announced the acquisition of Occidental Petroleum's petrochemical unit OxyChem for $9.7 billion, marking its largest deal in three years, with Buffett indicating a leadership transition to Greg Abel while maintaining Buffett's role as chairman.
Greg Abel, CEO-elect of Berkshire Hathaway, has made his first major move by orchestrating a $10 billion acquisition of OxyChem, marking a significant step in his leadership.
Berkshire Hathaway, led by Warren Buffett, is set to acquire OxyChem for $9.7 billion, marking its largest deal in three years, with the purchase primarily aimed at reducing Occidental's debt and expanding its chemical business.
Berkshire Hathaway is acquiring Occidental Petroleum's petrochemical unit, OxyChem, for $9.7 billion in cash, marking Berkshire's largest purchase since 2022, with the deal expected to close in Q4 and proceeds used by Occidental to reduce debt.
Berkshire Hathaway is acquiring Occidental Petroleum's petrochemical unit, OxyChem, for $9.7 billion, marking its largest deal since 2022, with the company planning to use part of the proceeds to reduce debt and support stock buybacks, while maintaining its significant stake in Occidental.
Berkshire Hathaway is in talks to acquire Occidental Petroleum's petrochemical business for about $10 billion, marking its largest deal since 2022, as Warren Buffett's firm re-engages in major acquisitions with a substantial cash reserve.
Warren Buffett's Berkshire Hathaway is close to acquiring Occidental Petroleum's petrochemical unit OxyChem for around $10 billion, potentially its largest deal since 2022, with Buffett stepping down as CEO at the end of 2025 but remaining as chairman.
Occidental Petroleum is in negotiations to sell its OxyChem chemical unit for approximately $10 billion, as part of its strategic business moves.