A corporate jet revealed Buffett's energy deal was in works days before it was announced

  • 📰 CNBC
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

United Kingdom United Kingdom Headlines News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

A corporate jet tracker spotted an Occidental Petroleum jet in Omaha, hometown of Warren Buffett, over the weekend. It sparked rumors that Berkshire Hathaway might be stepping into the bidding war between OXY and Chevron for Anadarko Petroleum. Tuesday's announcement that Buffett would take a preferred share stake in Occidental shows the jet tracker was right.

Haskett's Monday note, titled, "What was Occidental doing in Omaha?" came as Occidental was formalizing its counter-bid to Chevron's deal. It stated, "Here is where it gets a little more interesting. Warren Buffett does not show up as a holder of OXY or APC or CVX. And a quick search of OXY's 10-K for 'Nebraska' turns up nothing. Yet for some reason, an OXY jet was seen in Omaha yesterday.

Alternative sources of information have been used for years by hedge funds to stay ahead of the competition. Drones have flown over mall parking lots to track retail traffic, as well as operations at battleground stocks like Tesla to keep a tabs on production and deliveries. Tracking corporate planes as an M&A indicator was popular in the 1990s, but companies began masking planes as a result. An

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warren Buffett is taking sides in the bidding war for energy giant AnadarkoBerkshire Hathaway, the investment conglomerate controlled by Warren Buffett, is reportedly providing financing to Occidental Petroleum in its bid for Anadarko. Oh really?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Analysis | The Energy 202: New York’s Cuomo is pitching a Green New Deal. Climate activists say it’s not green enough.The Energy 202: New York’s Cuomo is pitching a Green New Deal. Climate activists say it’s not green enough. CdnHumanRights Kaur_2017 clarychka MadhuGrewal MarielenaNILC FAIRImmigration KClausing NatImmForum jaricheson immigrationcom alondra jaricheson humanrightsnyu AndrewScheer jfrobergeQc francoislegault JustinTrudeau CdnHumanRights Kaur_2017 clarychka MadhuGrewal MarielenaNILC FAIRImmigration KClausing NatImmForum jaricheson immigrationcom alondra jaricheson humanrightsnyu AndrewScheer jfrobergeQc francoislegault JustinTrudeau 1/2 CdnHumanRights Kaur_2017 clarychka MadhuGrewal MarielenaNILC FAIRImmigration KClausing NatImmForum jaricheson immigrationcom alondra jaricheson humanrightsnyu AndrewScheer jfrobergeQc francoislegault JustinTrudeau 2/2
Source: washingtonpost - 🏆 95. / 72 Read more »