Berkshire Hathaway is acquiring the chemical business OxyChem from Occidental Petroleum for $9.7 billion. The article mentions Buffett plans to retire at age 95 and this looks like one of his final major acquisitions. The deal values OxyChem at about 8x projected 2025 EBITDA which is lower than peers like Dow. Occidental plans to use the cash to pay down debt below $15 billion, which should save them around $350 million to $400 million in annual interest. Since Berkshire already owns over 28% of Occidental, this move helps clean up the balance sheet for an existing holding. Analysts see this as a classic value investing play. Instead of chasing tech stocks, Berkshire is trading cash for a stable industrial asset with predictable earnings.