No. The official transaction disclosures located do not support a Berkshire Hathaway agreement to buy Occidental Petroleum (NYSE: OXY) for $50 a share. They describe a different deal: Berkshire agreed to buy Occidental Chemical Corporation, known as OxyChem, for $9.7 billion in cash, subject to customary purchase price adjustments. Occidental reported that the sale closed on January 2, 2026.
What Berkshire Hathaway agreed to buy
The target was Occidental Chemical Corporation, the subsidiary that holds Occidental’s chemical business, not the publicly traded Occidental Petroleum parent company or all of its shares. Berkshire and Occidental announced the agreement on October 2, 2025. The joint announcement described the transaction as Berkshire’s acquisition of OxyChem, not a takeover of Occidental Petroleum. Read the joint announcement filed with the SEC.
The agreed consideration was $9.7 billion in cash, subject to customary purchase price adjustments. That is the stated price for the OxyChem subsidiary; it is not a $50-per-share offer for Occidental stock.
What happened to the regulatory-approval status
When the parties announced the OxyChem agreement on October 2, 2025, they said they expected it to close in the fourth quarter of 2025, subject to regulatory approvals and customary closing conditions. That was the projected timetable at announcement, not the eventual closing date.
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Occidental announced on January 2, 2026, that the OxyChem sale to Berkshire had completed for $9.7 billion in cash, subject to customary purchase price adjustments. Occidental’s SEC filing that day also records completion of the divestiture. The OxyChem transaction is therefore no longer pending, according to those disclosures. Occidental’s completion announcement · Occidental’s January 2, 2026 Form 8-K.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How the headline differs from the documented deal
| Claim or detail | What the official disclosures say |
|---|---|
| Target | The headline describes Occidental Petroleum as a whole; the documented target was Occidental Chemical Corporation (OxyChem), which holds Occidental’s chemical business. |
| Price | The headline’s $50-per-share figure is not supported by the transaction disclosures located. The OxyChem consideration was $9.7 billion in cash, subject to customary purchase price adjustments. |
| Status | The headline says pending regulatory approval. Occidental reported that the OxyChem sale completed on January 2, 2026. |
These distinctions matter to shareholders: buying a subsidiary is not the same as buying the parent company’s shares. The official records cited here establish the OxyChem transaction; they do not establish a separate $50-per-share offer for Occidental Petroleum.
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