Warren Buffett Not Expected to Bid for Control of Occidental Following Stake Boost

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Warren Buffett’s bid to boost his big stake in Occidental Petroleum even additional isn’t anticipated to function a prelude to a full takeover of the resurgent vitality firm by the extensively watched billionaire, a minimum of for now.

In a regulatory submitting Friday, the Federal Vitality Regulatory Fee stated that Mr. Buffett’s Berkshire Hathaway had acquired permission to purchase as much as 50% of the driller’s shares. The information stoked hypothesis that Berkshire may very well be gearing as much as purchase Occidental.

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