Berkshire Hathaway Inc. has agreed to make a $10 billion equity investment in Occidental Petroleum Corp., a bid to help the oil company complete its proposed acquisition of Anadarko Petroleum Corp.
In return for the investment, Berkshire will receive 100,000 shares of preferred stock, according to a statement from Occidental. The preferred stock will generated dividends at 8% a year.
to be sold at pilot flying j truck stops no doubt. I hate when people make decisions on our behalf
Thanksgiving Days for your family
Gheeze, this is a new low for Buffet helping a questionable company out like this. I have lost all respect.
Greetings I will have look at the bid being offered for anadarko,Shell US is not on offer.
The prized Anadarko asset are hundreds of thousands of acres of shale oil leases in the Permian Basin in West Texas. Anadarko has declining oil & gas producing assets in the offshore Gulf of Mexico, but the prize are the leases in West Texas.
Why doesn’t he take that 10 billion and invest it in government? Because he’s smart and knows the government is wasteful and that’d be a really stupid thing to do.
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