April 30, 2019 / 1:05 PM / 3 months ago

Buffett's Berkshire to invest $10 bln in Occidental for Anadarko buy

April 30 (Reuters) - Occidental Petroleum Corp said on Tuesday that Warren Buffett’s Berkshire Hathaway Inc would invest $10 billion in the U.S oil and gas company to help fund its acquisition of smaller rival Anadarko Petroleum Corp .

Occidental made a $38 billion offer for Anadarko last week, trumping Chevron Corp’s $33 billion bid from earlier this month.

“We are thrilled to have Berkshire Hathaway’s financial support of this exciting opportunity,” Occidental Chief Executive Officer Vicki Hollub said. (Reporting by Arathy S Nair in Bengaluru Editing by Saumyadeb Chakrabarty)

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