Warren Buffett’s Berkshire Hathaway has the green light from regulators to purchase as much as 50% of Occidental Petroleum Corp.’s shares, after seeking approval for such a transaction in July.
In a regulatory filing Friday, the Federal Energy Regulatory Commission said that Berkshire Hathaway had asked for and received its permission to buy up to 50% of the driller’s shares. Berkshire has been loading up on Occidental’s shares this year, amassing roughly 20% of the company’s stock, public filings show, leaving many analysts to speculate whether Mr. Buffett would seek control of the company, one of the largest U.S. oil producers.
Source: https://www.wsj.com/articles/warren-buffetts-berkshire-hathaway-moves-to-buy-as-much-as-half-of-occidentals-shares-11660947773?siteid=yhoof2&yptr=yahoo