Berkshire Hathaway to buy Burlington Northern

03 November 2009 @ 10:08 am EDT

Warren Buffett's Berkshire Hathaway Inc said it agreed to buy railroad Burlington Northern Santa Fe Corp in Buffett's biggest acquisition ever.


Billionaire financier and Berkshire Hathaway Chief Executive Warren Buffett
Billionaire financier and Berkshire Hathaway Chief Executive Warren Buffett attends the Berkshire Hathaway Annual Shareholders meeting in Omaha, Nebraska May 2, 2009.
1 of 1

In a statement, Buffett said railroads are key for the United States' future growth, and will only grow when the nation grows.

"...(I)t's an all-in wager on the economic future of the United States," Buffett said. "I love these bets."

Berkshire Hathaway would pay $100 a share for the railroad in cash and stock for the 77.4 percent of its shares that it does not already own. The deal values Burlington Northern at $34 billion.

(Reporting by Helen Chernikoff, editing by Gerald E. McCormick)

Copyright 2009 Thomson Reuters. All rights reserved.

E-Newsletters

We value your privacy. Your email address will not be shared.

Home
World
US
Economy
Companies
Tech
Science
Global Markets
Education
Real Estate
Forex
Commodities
Gold & Silver Matters
More Sections
Fashion
Auto
Travel
Health
Law
Entertainment
Sports
Luxury
Art
Books
Tech & Trend
Tools & Features
Topics
Blogs
Market Data
Stock Watch List
Investment Calculator
Financial Glossary
Broker Center
World Business Headlines
Updates
RSS Feeds
IBTimes on Twitter
IBTimes on Facebook
E-Newsletters
Services
Forex Newsfeed
Research
Press Release
About IBTimes
News Licensing
Media Kit
Advertise with Us
About IBTimes
Contact Us
Terms of Service
Privacy Policy