Reports that Warren Buffett and his Berkshire Hathaway Inc. were intent on acquiring Occidental Petroleum took another serious step on Monday.
Berkshire Hathaway purchased 794,389 shares of Occident giving the firm a nearly 16.4% share of the Houston, Texas-based oil company.
The newest acquisitions occurred on June 17 and again on June 22, according to a filing with the U.S. Securities Exchange Commission.
The three purchases made on June 17 were for 3,624,944 at $54.96 each; 1,928,737 at $55.77 each; and 119,515 shares at $56.41 each.
The June 22 acquisitions were 1,295,164 shares purchased at $54.98 each and 2,583,094 shares bought at $55.71 each.