Berkshire Hathaway to acquire OxyChem from Occidental for $9.7bn.

Berkshire Hathaway, an American multinational conglomerate holding company, agreed to acquire OxyChem, a manufacturer of commodity chemicals, from Occidental, an energy company, for $9.7bn. “Berkshire is acquiring a robust portfolio of operating assets, supported by an accomplished team. We look forward to welcoming OxyChem as an operating subsidiary within Berkshire. We commend Vicki and the Occidental team for their commitment to Occidental’s long-term financial stability, as demonstrated by their plan to use proceeds to reinforce the company’s balance sheet,” Greg Abel, Berkshire Vice Chairman of Non-Insurance Operations.