Core Insights - Warren Buffett will retire at age 95 after over 60 years of running Berkshire Hathaway, making a significant investment in OxyChem for $9.7 billion just before his departure [1][2] Group 1: Acquisition Details - Berkshire Hathaway is acquiring OxyChem, a petrochemicals business from Occidental Petroleum, marking its most significant acquisition since 2022 [2] - The acquisition price of $9.7 billion is considered a bargain, with OxyChem being valued at about eight times its projected 2025 EBITDA, especially in a weak chemical industry [3] - OxyChem is a stable cash generator producing essential products like chlorine, caustic soda, and PVC, which are crucial for various industries [4] Group 2: Financial Implications - The structure of the deal benefits both companies, with Occidental Petroleum receiving $9.7 billion in cash, planning to use $6.5 billion to reduce its debt below $15 billion, thus improving its balance sheet [5] - This debt reduction is expected to save Occidental $350 million to $400 million annually in interest payments, enhancing Berkshire's existing 28.2% ownership and providing additional protection against energy price volatility [5]