Warren Buffett not expected to make bid for control of Occidental - report
Warren Buffett's Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B)$Berkshire Hathaway(BRK.B)$is not expected to make a bid for full control of
Occidental Petroleum (NYSE:OXY) $Occidental(OXY)$even after he received regulatory approval to buy 50% of the driller.
Buffett hasn't informed Occidental (OXY) of any plans to purchase a controlling stake in the company, according to a WSJ report, which cited people close to the matter.
Buffett is also unlikely to try to gain full control of the company at current prices as he typical is known as a value hunter, the WSJ said. Occidental (OXY) is said to believe Buffett may consider making a bid for the entire driller if oil prices fall and OXY stock drops subsequently.
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