Buffett's Berkshire buys more Occidental shares, raises stake to about 16.4%
(Reuters) -
The purchases were made in multiple transactions and cost about
Berkshire, the largest individual shareholder in Occidental, now owns about 153.5 million shares worth about
Occidental's share prices are currently up nearly 90% this year, as the company benefited from Berkshire's purchases and an oil price surge following
The company also owns options to buy another 83.9 million Occidental shares, which if exercised, would bring its stake to more than 25%.
Berkshire has been on a spending spree this year.
It spent
Berkshire has also this year announced large investments in video game maker Activision Blizzard Inc (ATVI) and computer and printer maker HP Inc (HPQ), and a planned
(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by