Buffett's Berkshire Buys OxyChem for $9.7 Billion
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Berkshire Hathaway, led by Warren Buffett, is set to acquire Occidental Petroleum's chemical division, OxyChem, for $9.7 billion. This marks Buffett's largest acquisition in three years and will see $6.5 billion used to reduce Occidental's significant debt. OxyChem produces essential chemicals for various industries, including healthcare and manufacturing. Occidental's CEO expressed confidence in the business thriving under Berkshire Hathaway's ownership.
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