Occidental Petroleum said on Wednesday billionaire Warren Buffett’s Berkshire Hathaway Inc had agreed to accept common shares of the oil producer instead of cash dividends for preferred stock.
Source: Reuters
Berkshire last year bought $10 billion worth of Occidental’s preferred shares to help finance its acquisition of Anadarko Petroleum.
Berkshire plans to sell the common shares, Occidental said in a regulatory filing. (bit.ly/2VbgJUU)
