Key Takeaways

Warren Buffett’s Berkshire Hathaway is set to acquire OxyChem for $9.7 billion in an all-cash deal.

Buffett is stepping down as Berkshire CEO on January 1, 2026.

It’s Berkshire’s biggest deal in three years and likely Buffett’s last at the helm of the company.

Warren Buffett , the 95-year-old chief executive of conglomerate Berkshire Hathaway , has made his largest deal yet in three years — potentially his last big acquisition as CEO.

Berkshire announced in a press release on Thursday that it would acquire Occidental Petroleum’s petrochemical unit OxyChem for $9.7 billion in an all-cash deal. OxyChem manufactures chemicals such as chlorine for water treatment, calcium chloride for ice control on roads, and vinyl chloride for plastics.

With the OxyChem acquisition,

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