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Strategies & Market Trends : World Outlook

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From: Les H	9/30/2025 8:11:42 PM
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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. CNBC

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