No. of Recommendations: 4
Occidental Petroleum Corp. is done with monster dealmaking after reaching its asset-sales target with the $9.7 billion chemical-unit sale to Berkshire Hathaway Inc.
“I believe we are done with the big deals,” Occidental Chief Executive Officer Vicki Hollub said in an interview Thursday. “This pretty much gets us where we need to be.”
The company fielded “quite a few” unsolicited offers for OxyChem and had the option of selling it in pieces or as a whole, Hollub said.
“We wanted to go with an offer that was all cash and had certainty to close, and so that’s why we selected Berkshire,” she said. “Now with a debt reduction, we’re where we need to be to ensure that we get more value to the shareholders faster and in a more meaningful way than we’ve been able to do over the last few years.”
https://www.bloomberg.com/news/articles/2025-10-02... (Subscription Required)
