Overview

• Talks reported by the Wall Street Journal suggest a deal could be finalized within days, though neither company has announced an agreement.
• Berkshire is already Occidental’s largest shareholder with roughly a 28% stake and has about $344 billion in cash to fund acquisitions.
• OxyChem produces chlorine, PVC resin and other industrial chemicals and generated nearly $5 billion in revenue over the past year.
• Occidental shares fell about 1.8% after the report, reflecting a modest market reaction as investors weighed the potential divestiture.
• JPMorgan’s Arun Jayaram said a $10 billion price implies roughly 8x 2025 EBITDA and estimated proceeds could cut Occidental’s leverage by about one turn.