Why Warren Buffett’s Berkshire Hathaway may be placing another bet in petrochemicals
1. Berkshire Hathaway plans to acquire Occidental's OxyChem for ~$10 billion. 2. This would be Berkshire's largest acquisition since 2022. 3. Berkshire already holds a 28% stake in Occidental, valued at $13 billion. 4. Occidental sees asset sale as a way to reduce leverage. 5. OxyChem represents about 18% of Occidental's projected 2024 sales.