Here's why Berkshire Hathaway investors should be celebrating.

Warren Buffett will step down as CEO of Berkshire Hathaway ( BRK.A 0.13% ) ( BRK.B 0.16% ) at the end of the year. But before he does, the conglomerate he's run for nearly 60 years will make at least one more big acquisition.

The Oracle of Omaha and soon-to-be CEO Greg Abel expect to close on a deal to acquire the petrochemicals business OxyChem from Occidental Petroleum ( OXY -0.20% ) in the fourth quarter. Berkshire will pay $9.7 billion in cash, which will barely make a dent in the $340 billion sitting on the company's balance sheet. Still, it represents the largest purchase for Berkshire since Allegheny Corp. in 2022.

The deal is an exceptional example of Warren Buffett's investing style, which re

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