Warren Buffett Watch: His last big deal as Berkshire CEO before Abel takes over?
1. Berkshire holds a 27% stake in Occidental, valued at $11.9 billion. 2. Occidental pays an 8% dividend on $8 billion of preferred shares held by Berkshire. 3. CEO Vicki Hollub plans to improve Occidental's balance sheet post-acquisition. 4. Occidental's shares dropped 5.5% after the announcement, sparking mixed market reactions. 5. Berkshire's continued dividends from Occidental are estimated to exceed $600 million annually.