Occidental Petroleum (OXY) stock climbs on $9.7B OxyChem sale to Berkshire as markets shut for weekend
Occidental closed up 3.06% at $42.38 after completing a $9.7 billion all-cash sale of OxyChem to Berkshire Hathaway. The company published unaudited pro forma financials reflecting the deal and related debt moves. Investors are watching how quickly the proceeds impact debt and shareholder returns. Occidental retained certain legacy liabilities tied to OxyChem.