Could Buffett Buy Out Occidental Petroleum?
I am quoted in Kiplinger’s
“Buffett has been consistently adding to his stake in Occidental this year when its price dropped,” says David Kass, a professor of finance at the University of Maryland’s Robert H. Smith School of Business and noted Buffett expert.
“He has at least a five-to-10-year time horizon,” Kass adds, “and will take advantage of market volatility to add to his stake when the opportunity drops into his lap.”
Reminds me a lot like his buying pattern of BNSF stock before he bought it. Under $58-$59 seems to be his trigger point. Market cap, even with a reasonable premium to current price, is within reach assuming a reasonable premium to existing shareholders, potentially similar to what he worked out when he bought BNSF.