Overview

• Multiple outlets citing the Wall Street Journal report Berkshire is negotiating to acquire Occidental Petroleum’s OxyChem unit for roughly $10 billion, with a deal possibly finalized within days.
• Berkshire and Occidental have not announced an agreement, and the talks remain unconfirmed by the companies.
• If completed, the transaction would be Berkshire’s largest since its $11.6 billion Alleghany acquisition in 2022.
• Berkshire is Occidental’s largest shareholder with about a 28% stake valued at more than $11 billion and holds a cash pile near $344 billion.
• OxyChem, which makes chemicals used in water treatment, battery recycling and paper production, generated nearly $5 billion in revenue over the 12 months to June.