Occidental sells OxyChem to Berkshire Hathaway for $9.7B all-cash

OCCIDENTAL PETROLEUM CORP /DE/

Deal value $9.7B, subject to customary adjustments for cash, debt, and working capital.
Closing expected by March 30, 2026, with 90-day extension for regulatory approvals.
OxyChem is Occidental's commodity chemicals business; ERH retains legacy environmental liabilities.
Occidental will guarantee indemnification obligations of its selling subsidiaries.
Transaction requires HSR clearance and other regulatory consents.

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