Warren Buffett-owned Berkshire Hathaway is set to acquire Occidental Petroleum’s chemical division, OxyChem, for $9.7 billion, marking possibly the last major deal under the billionaire investor who owns the firm, set to retire by year-end. Notably, Buffett's name was absent from Thursday's announcement materials, as reported by Associated Press, suggesting a transition of leadership to Vice Chair Greg Abel, who will become CEO in January. Although Buffett will retain his position as chairman at Berkshire and continue to influence decisions regarding the company's substantial cash reserves exceeding $344 billion. The conglomerate's cash has accumulated as Buffett struggled to identify attractively priced major acquisitions since purchasing Alleghany Insurance for $11.6 billion in 202

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