Warren Buffett's Recent Moves and Views on Investments and Economy.
TL;DR
Occidental Petroleum has redeemed $647 million, or about 6.5%, of Berkshire Hathaway's preferred stock as the oil company begins paying back Warren Buffett four years after he helped finance its acquisition of Anadarko Petroleum. The total cost of Occidental's redemption was $712 million as it includes a 10% premium to Buffett and matches distributions to common stock holders. Separately, Berkshire owns a 24% stake in Occidental common stock and is the company's largest shareholder.
Topics:businessfinance#berkshire-hathaway#finance#occidental-petroleum#preferred-stock#redemption#warren-buffett
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