Representatives for Occidental and Berkshire didn’t immediately reply to messages seeking comment. The Wall Street Journal reported on the potential deal earlier Tuesday.
Warren Buffett’s Berkshire Hathaway Inc. is nearing a deal to acquire Occidental Petroleum Corp.’s petrochemical business for about US$10 billion ($12.9 billion), according to a person familiar with the matter.
The transaction could be announced in the coming days, the person said, asking not to be identified because the talks are confidential. It would be Berkshire’s largest deal since its acquisition of Alleghany Corp. in 2022 for US$13.7 billion, according to data compiled by Bloomberg.
