Occidental M&A Deal Sparks 'Sell the News' Action

24 days ago

Bloomberg's Christina Kino

"Occidental in the news, a little M&A trade, not so little for them, but it was a nice deal. $9.7 billion Warren Buffet... those shares ticker OXY. Those are down now more than 3%. So I think we're just seeing a little bit of a buy fact or buy the rumor, sell the news action today in those shares."

Occidental (OXY) is in the spotlight following a $9.7 billion cash deal associated with Berkshire Hathaway. Despite the attractive deal fundamentals—providing financial flexibility and a future upside—the shares are down over 3%, hinting at a potential 'sell the news' scenario.

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