Core Viewpoint - Occidental Petroleum (OXY.US) shares declined over 5.8% to $44.925, reversing earlier gains, following the announcement of Berkshire Hathaway's $9.7 billion acquisition of Occidental's chemical business, OxyChem, marking Berkshire's largest acquisition since 2022 [1] Group 1 - Berkshire Hathaway will acquire OxyChem for $9.7 billion, which is the largest acquisition by Berkshire since 2022 [1] - Occidental Petroleum plans to use $6.5 billion from the transaction to pay down debt, aiming to reduce its total debt to below $15 billion [1]

Core Viewpoint - Western Oil's stock price declined over 5.8% to $44.925, reversing its pre-market gains following the announcement of Berkshire Hathaway's $9.7 billion acquisition of its chemical subsidiary OxyChem, marking Berkshire's largest acquisition since 2022 [1] Group 1 - Berkshire Hathaway will acquire OxyChem for $9.7 billion, which is the largest acquisition by Berkshire since 2022 [1] - Western Oil plans to use $6.5 billion from the transaction to pay down debt, aiming to reduce its total debt to below $15 billion [1]

Core Points - Occidental Petroleum (OXY.US) experienced a short-term decline of nearly 5%, trading at $45.4. This drop follows the announcement that Berkshire Hathaway will acquire Occidental's chemical business, OxyChem, for $9.7 billion, marking Berkshire's largest acquisition since 2022 [1] - Occidental plans to use the $6.5 billion proceeds from the transaction to pay down debt, aiming to reduce its primary debt to below $15 billion [1] Group 1 - Occidental Petroleum's stock price fell nearly 5% to $45.4 following the acquisition announcement [1] - Berkshire Hathaway's acquisition of OxyChem for $9.7 billion is the largest since 2022 [1] - Occidental intends to utilize $6.5 billion from the sale to lower its debt [1] Group 2 - The goal of Occidental is to reduce its primary debt to below $15 billion [1]