| Berkshire Hathaway to Buy BNSF for $100/Share |
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November 3, 2009 Private equity firm Berkshire Hathaway, controlled by billionaire Warren Buffett, said Tuesday it will buy freight railroad Burlington Northern Santa Fe Corp. for $100 a share, in a transaction worth about $44 billion. Berkshire Hathaway, which has trucking and other transportation interests, already owned about a 22% stake in BNSF and said it will split its stock 50-to-1 as part of the deal. BNSF is the No. 2 freight railroad by revenue in the United States behind Union Pacific Corp. Both rail lines operate west of the Mississippi River. BNSF’s stock closed Monday at $76.07 per share. From: Transport Topics |
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