Buffett’s Berkshire Hathaway Seeks to Buy as Much as 50% of Occidental

In 2019, Buffett aided Occidental Chief Executive Officer Vicki Hollub’s pursuit of Anadarko Petroleum Corp. by agreeing to invest $10 billion in Occidental at the time, a pact that included both preferred shares and warrants. This year, Buffett praised Hollub’s leadership, a sign that the billionaire investor was all-in on Occidental. That stirred up speculation that Berkshire, with more than $105 billion in cash on hand at the end of June, could seek to buy more stock.