Warren Buffett’s Berkshire Hathaway will invest $10-billion in Occidental Petroleum to help the oil producer in its $38-billion bid for Anadarko Petroleum. Berkshire will receive 100 000 shares of preferred stock in Occidental, according to a statement Tuesday. Buffett’s intervention, which is contingent on the deal for Anadarko closing, comes a day after Anadarko agreed to serious negotiations with Occidental despite having accepted a lower offer earlier this month from Chevron.
