Warren Buffett’s bid to boost his big stake in Occidental Petroleum Corp. even further isn’t expected to serve as a prelude to a full takeover of the resurgent energy company by the widely watched billionaire, at least for now.
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Warren Buffett’s bid to boost his big stake in Occidental Petroleum Corp. even further isn’t expected to serve as a prelude to a full takeover of the resurgent energy company by the widely watched billionaire, at least for now.
In a regulatory filing Friday, the Federal Energy Regulatory Commission said that Buffett’s Berkshire Hathaway Inc. BRK.B, -2.30% BRK.A, -2.24% had received permission to buy up to 50% of the driller’s shares. The news stoked speculation that Berkshire could be gearing up to acquire Occidental OXY, +9.88%.
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