Anadarko Occidental Petroleum

Cramer Hating on Buffet? Calls the Berkshire, Occidental’s Deal ill-advised

Occidental revealed this week that Berkshire has committed to invest $10 billion in the company to help fund its proposed acquisition of Anadarko. Berkshire would make the investment by purchasing 100,000 shares of preferred stock, which pays out an 8% annual dividend.

Backed by Berkshire, Occidental’s bid topped an earlier bid by Chevron. However, the “Oracle of Omaha” doesn’t consider it to be a hostile deal because Anadarko wants to sell its properties. –

The most overhyped investment guru Jim Cramer is now calling the Berkshire, Occidental’s Deal ill-advised. talk about sour grapes.

Buffett’s Berkshire Hathaway Inc. agreed earlier this week to make the investment in Occidental to help the oil producer with its $38 billion bid for Anadarko Petroleum Corp. Berkshire will receive preferred shares and warrants, while Occidental gets the financial backing of a billionaire investor whose company has $112 billion in cash. –

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