05:01 PM EDT, 09/30/2025 (MT Newswires) -- Berkshire Hathaway ( BRK/A ) (BRK.B) is negotiating to acquire Occidental Petroleum's ( OXY ) petrochemical business, OxyChem, for around $10 billion, the Wall Street Journal reported Tuesday, citing people familiar with the matter.

The deal could be announced within days and would mark Berkshire's largest since its 2022 agreement to acquire insurer Alleghany for $11.6 billion, the report said. Occidental's chemical unit generated nearly $5 billion in sales in the 12 months ended in June.

Berkshire is already Occidental's largest shareholder, with about a 28% stake.

Berkshire Hathaway ( BRK/A ) and Occidental Petroleum ( OXY ) did not immediately respond to MT Newswires' request for comment on the matter.

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