At 95, Buffett is still sharpest dealmaker with $10 billion OxyChem deal

Warren Buffett’s shrewd dealmaking instincts remain intact even as the 95-year-old legendary investor inches close to the end of his term as Berkshire Hathaway CEO. Berkshire said Thursday it reached a deal to buy Occidental Petroleum’s chemical business, OxyChem, for $9.7 billion in cash, marking its largest purchase since 2022. The transaction reflects Buffett’s investment acumen: buying a good business at an attractive price, while skirting the possibility of costly headaches. Occidental, burdened with billions of dollars in debt on its balance sheet, was motivated to sell and agreed to part ways with OxyChem at a time when chemical markets are near the bottom of their cycle.