Buffett's Berkshire Hathaway strikes $9.7 billion deal for Occidental's OxyChem unit

Core Viewpoint - Berkshire Hathaway is set to acquire Occidental Petroleum's chemical business, OxyChem, for $9.7 billion in cash, representing its largest acquisition since the $11.6 billion purchase of Precision Castparts in 2016 [1] Group 1 - The acquisition of OxyChem marks a significant strategic move for Berkshire Hathaway, enhancing its portfolio in the chemical sector [1] - The deal highlights Berkshire Hathaway's continued interest in the energy and chemical industries, reflecting a broader trend of consolidation in these sectors [1] - This transaction is expected to strengthen Berkshire Hathaway's operational capabilities and market position within the chemical industry [1]