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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: rnam ✧  😊 😞
Number: of 15056 
Subject: OXY investment
Date: 05/06/2023 6:10 PM
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From the 10Q.

As of March 31, 2023, our investment in Occidental preferred stock had an aggregate liquidation value of approximately $9.5 billion. During March of 2023, Occidental issued mandatory redemption notifications at a price of 110% of the liquidation value, plus accrued and unpaid dividends for $474 million of preferred stock liquidation value due to excess distributions by Occidental to its common stockholders, as defined under the agreement.

In the Q&A, Buffett stated that they were not interested in controlling OXY. There was a lot of speculation because of the relentless purchases of OXY stock. This combined with the sales of CVX stock in Q1 would have further fueled speculation that he was preparing to make an offer.
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