Buffett Rules Out Control of Occidental and Automaker Investments
TL;DR Summary
Berkshire Hathaway CEO Warren Buffett has stated that the company will not be buying a controlling interest in Occidental Petroleum, despite owning a 23.6% stake in the Houston-based oil company. Buffett praised the management team at Occidental and said that Berkshire Hathaway would not know what to do with control of the company. However, Berkshire Hathaway may still buy more of the company in the future, as it has warrants for the stock at $59 per share and may increase its current holdings.
Topics:business#berkshire-hathaway#finance#investments#occidental-petroleum#oil-stocks#warren-buffett
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