Occidental to sell OxyChem unit to Berkshire for $9.7 billion
1. Occidental Petroleum sells petrochemical division to Berkshire Hathaway for $9.7 billion. 2. This acquisition aids Occidental in reducing their debt significantly.
FAQ
Why Bullish?
The acquisition enhances BRK-A's portfolio, similar to past strategic investments that improved market positioning.
How important is it?
The acquisition aligns with Buffett's strategy of value-based investing, indicating potential growth for BRK-A.
Why Long Term?
This acquisition could provide steady cash flow and strategic advantages over time, reflecting Buffett's historical approach.