Berkshire not seeking full control of Occidental Petroleum, Buffett says


Warren Buffett said that Berkshire Hathaway doesn’t plan on taking full control of Occidental Petroleum . “There’s speculation about us buying control… We’re not going to buy control,” the 92-year-old legendary investor said at Berkshire’s annual shareholder meeting in Omaha, Nebraska on Saturday. “We will not be making any offer for control of Occidental, but we love the shares we have,” he said. The conglomerate has continued its steady buying of the Houston-based oil and gas producer in the past year, with its stake currently standing at 23.6% of the company, according to FactSet data.

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