Core Viewpoint - Berkshire Hathaway is set to acquire Oxychem for $9.7 billion [1] Company Summary - The acquisition price of $9.7 billion indicates a significant investment by Berkshire Hathaway in the chemical sector [1] Industry Summary - This acquisition reflects Berkshire Hathaway's strategy to expand its portfolio in the chemical industry, potentially enhancing its market position and operational capabilities [1]

Core Viewpoint - Occidental Petroleum is selling its petrochemical division to Berkshire Hathaway for $9.7 billion to reduce its debt [1] Group 1: Company Actions - The sale of the petrochemical division is part of Occidental Petroleum's strategy to pare down its debt [1] Group 2: Financial Details - The transaction value is set at $9.7 billion, indicating a significant divestment by Occidental Petroleum [1]

Core Viewpoint - Berkshire Hathaway has reached a deal to acquire Occidental Petroleum's petrochemical unit, OxyChem, for $9.7 billion in cash, marking its largest acquisition since 2022 [1][4]. Group 1: Acquisition Details - The acquisition of OxyChem is valued at $9.7 billion, which is Berkshire's largest deal since it purchased insurer Alleghany for $11.6 billion in 2022 [1]. - Berkshire Hathaway currently holds a record cash reserve of $344 billion, providing ample liquidity for this acquisition [1]. - The deal is expected to close in the fourth quarter of the year [4]. Group 2: Stake and Strategy - Berkshire Hathaway is already a significant investor in Occidental, holding a 28.2% stake as of the end of June [2]. - Warren Buffett began acquiring Occidental shares in 2022, capitalizing on market volatility to purchase at lower prices [2]. Group 3: OxyChem Operations and Financial Strategy - OxyChem specializes in manufacturing water treatment, healthcare, and other commercial chemicals [3]. - Occidental plans to utilize $6.5 billion of the proceeds from the sale to reduce its debt [3]. - Greg Abel, Vice Chairman of Non-Insurance Operations at Berkshire, expressed optimism about integrating OxyChem as a subsidiary and highlighted Occidental's commitment to long-term financial stability [4].

Core Viewpoint - Berkshire Hathaway, led by renowned investor Warren Buffett, is set to spend $10 billion to acquire a subsidiary of Occidental Petroleum, marking its largest acquisition since 2022 [1][3]. Group 1: Acquisition Details - Berkshire Hathaway plans to invest $10 billion (approximately 71.2 billion RMB) to acquire a subsidiary of Occidental Petroleum [1]. - If the deal is finalized, it will represent Berkshire's highest acquisition amount since 2022 [1]. - Berkshire Hathaway has increased its stake in Occidental Petroleum multiple times in recent years, currently holding over 28% of the company's shares [3]. Group 2: Company Background - Occidental Petroleum was established in 1920 and is headquartered in Texas, USA, with business operations spanning oil and gas exploration, chemicals, coal, and low-carbon energy [5]. - Following the acquisition news, Occidental Petroleum's stock price rose by 0.99% on October 1, closing at $47.72 per share [5].

美国媒体CNBC援引《华尔街日报》报道，美国知名投资人巴菲特旗下的伯克希尔-哈撒韦公司正在耗 资100亿美元，收购西方石油公司旗下的一家子公司。若交易最终达成，这将是伯克希尔自2022年以来 金额最高的一笔收购。据悉，伯克希尔-哈撒韦近年已多次增持西方石油的股票，目前持股比例超过 28%。尽管已获准最高收购其50%的股权，但巴菲特明确表示，无意完全控股该公司。受此收购消息推 动，其股价在10月1日上涨0.99%，收于每股47.72美元。（央视财经） ...

格隆汇10月2日｜美国媒体CNBC援引《华尔街日报》称，美国知名投资人巴菲特旗下的伯克希尔-哈撒 韦公司正在耗资100亿美元，收购西方石油公司旗下的一家子公司。若交易最终达成，这将是伯克希尔 自2022年以来金额最高的一笔收购。据悉，伯克希尔-哈撒韦近年已多次增持西方石油的股票，目前持 股比例超过28%。尽管已获准最高收购其50%的股权，但巴菲特明确表示，无意完全控股该公司。受此 收购消息推动，其股价在10月1日上涨0.99%，收于每股47.72美元。 ...

Group 1 - Major U.S. oil companies and their executives have been sanctioned by a Houthi-affiliated body for allegedly violating a Houthi embargo [1][3] - The Humanitarian Operations Coordination Center (HOCC) sanctioned 13 U.S. oil companies, nine executives, and two assets linked to the U.S. [3] - Companies affected include ExxonMobil, Chevron, ConocoPhillips, Phillips 66, Marathon Petroleum, Valero, and Occidental, along with their top executives [4] Group 2 - The sanctions are described as a response to U.S. sanctions, with the Houthis claiming the action is based on the principle of reciprocity [5] - The geopolitical context includes ongoing events in the Middle East, such as the Israeli offensive in Gaza and the re-imposition of UN sanctions on Iran [6] - The Houthis also claimed responsibility for an attack on a Netherlands-flagged cargo ship, indicating a potential escalation in maritime security risks [7]

Core Viewpoint - Warren Buffett's Berkshire Hathaway is reportedly close to acquiring Occidental Petroleum's chemical subsidiary OxyChem for approximately $10 billion, marking the largest acquisition since 2022 [1][2]. Group 1: Acquisition Details - The acquisition of OxyChem, if finalized, will be Berkshire Hathaway's largest deal since the $13.7 billion purchase of Alleghany Corp in 2022 [2]. - Occidental Petroleum has been divesting assets to reduce debt, with the sale of OxyChem seen as a significant step in this process [2][3]. - OxyChem generated revenues of $2.42 billion in the first two quarters of this year [4]. Group 2: Financial Context - As of June 30, Berkshire Hathaway's cash reserves exceeded $340 billion, providing ample liquidity for the acquisition [5][6]. - In Q2 2023, Berkshire reported revenues of $92.515 billion, a slight decrease from $93.653 billion in the same period last year, with a net profit of $12.37 billion, down 59% year-over-year [5]. - The company has been selling stocks for 11 consecutive quarters, with a net sale of approximately $3 billion in Q2 2023 [5]. Group 3: Occidental Petroleum's Financial Situation - Occidental Petroleum's debt burden stood at $23.34 billion as of June 30, following a $10.8 billion acquisition of CrownRock LP in 2023 [3]. - The company has sold nearly $4 billion in assets since last year to manage its debt, which stems from a $55 billion acquisition of Anadarko Petroleum in 2019 [3].

Core Viewpoint - Warren Buffett's Berkshire Hathaway is in talks to acquire Occidental Petroleum's chemical business, OxyChem, for approximately $10 billion, which would be its largest acquisition since 2022 [1] Group 1: Acquisition Details - The potential acquisition of OxyChem could be finalized within days and represents a significant move for Berkshire Hathaway, which is already Occidental Petroleum's largest shareholder with a 28% stake valued at nearly $13 billion [1] - OxyChem is projected to contribute $4.92 billion, or 18% of Occidental's total sales of $26.73 billion in 2024 [1] - This acquisition would mark Berkshire's second major investment in the chemical sector, following its nearly $10 billion purchase of Lubrizol Corp in 2011 [1] Group 2: Historical Context - Berkshire Hathaway previously acquired a portion of Occidental's preferred shares during the acquisition of Anadarko Petroleum in 2019 and has been increasing its stake in Occidental since 2022 [2] - Buffett has expressed confidence in Occidental's management, particularly CEO Vicki Hollub, which influenced his decision to increase holdings in the company [2] Group 3: Financial Position - As of June 30, Berkshire Hathaway had cash and cash equivalents totaling $344 billion, close to record highs, indicating a strong liquidity position for potential investments [3] - Buffett has indicated a willingness to deploy significant capital for the right investment opportunities, having nearly pursued a $10 billion investment earlier this year [3] - Occidental's stock has seen a decline of over 4% this year, attributed to falling oil prices and concerns regarding the company's debt burden [3]

Berkshire Hathaway is reportedly nearing a $10 billion deal to buy the petrochemical division of Occidental Petroleum, in what would be the largest deal by Warren Buffett’s conglomerate since 2022. https://t.co/LfFWr2rPNl ...