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11/3/2009 4:10:00 PM Write a Letter to the Editor Write a letter to the Editor

Berkshire Hathaway to Buy BNSF for $100/Share


Tom Biery/Trans Pixs

Editor’s note: A previous version of this story said Berkshire Hathway was a private equity firm. It is publicly traded.

Berkshire Hathaway Inc., 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.

 

By Transport Topics


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