Buffett's Berkshire to Invest $10 Billion in Occidental For Anadarko Takeover

[AdrianC + 42]

Warren Buffett is getting involved in a rare bidding war unfolding in the energy industry. Berkshire Hathaway has committed a $10 billion preferred stock investment in Occidental Petroleum contingent on the company completing its proposed takeover of Anadarko Petroleum. Last week, Occidental made a rival bid for the oil and gas driller, challenging Chevron’s $33 billion buyout of Anadarko.

https://www.reuters.com/article/us-anadarko-petrol-m-a-occidental-berksh/buffetts-berkshire-to-invest-10-billion-in-occidental-for-anadarko-buy-idUSKCN1S61I3

Edited April 30, 2019 by AdrianC

[Brian W + 78]

A can't lose offer for Buffett. Get's 8% on $10b in perpetuity backed by oil revenues.

[J.mo + 165]

I was just coming here to post this link. For the shale profit naysayers, this is a little more proof. I feel increasingly that most "analysts" should rename their titles to "lobbyists"