When will Berkshire Hathaway buy Burlington Northern Santa Fe?
Railway company Burlington Northern Santa Fe Corp. will be acquired by Warren Buffet’s investment firm Berkshire Hathaway Inc. for $44 billion, according to a statement released by Buffet’s company on Tuesday. It will be the largest acquisition in the history of Berkshire Hathaway. The boards of both companies — including board members of Fort Worth-based Burlington Northern Santa Fe (NYSE: BNI) — have approved the transaction. Omaha-based Berkshire Hathaway will buy up 77.4 percent of the BNI’s shares for $100 per share, the company said. When calculating shares already owned by Berkshire, the company will achieve 100 percent control of the business through this transaction. The transaction is valued at $44 billion and will include $10 billion in outstanding BNSF debt. “Our country’s future prosperity depends on its having an efficient and well-maintained rail system,” said Warren E. Buffett, Berkshire Hathaway chairman and chief executive officer, in a statement. “We are thrilled to
Berkshire Hathaway, the investment vehicle of Warren E. Buffett, said on Tuesday that it planned to buy the 77.4 percent of Burlington Northern Santa Fe it did not already own for $34 billion in cash and stock, in the largest deal in Berkshire history. The deal, which will also include the assumption of $10 billion in Burlington Northern debt, represents what Mr. Buffett said was a big bet on the United States. He told CNBC in an interview that railroad operators cannot do well unless American businesses were producing goods and customers were buying them. “It’s an all-in wager on the economic future of the United States,” he said in a written statement. “I love these bets.” Burlington Northern stock price In the interview with CNBC, Mr. Buffett said that the deal came together quickly. He made a proposal to Matthew K. Rose, Burlington Northern’s chairman and chief executive. Mr. Rose took the proposal to his board — and got an answer in about 15 minutes. “We are thrilled to have the o
Railway company Burlington Northern Santa Fe Corp. will be acquired by Warren Buffet’s investment firm Berkshire Hathaway Inc. for $44 billion, according to … Sources: http://news.google.com/news/url?sa=t&ct2=us%2F0_0_s_0_0_t&usg=AFQjCNEwNKb8cUEtvvLpHqSff8a3JHNV4g&sig2=Obym-DC_iZL8IoBOxOnLrQ&cid=1462963538&ei=ukDwSvDjGKjq8gSiweWEAw&rt=SEARCH&vm=STANDARD&url=http%3A%2F%2Fdallas.bizjournals.com%2Fdallas%2Fstories%2F2009%2F11%2F02%2Fdaily11.
Railway company Burlington Northern Santa Fe Corp. will be acquired by Warren Buffet’s investment firm Berkshire Hathaway Inc. for $44 billion, according to a statement released by Buffet’s company on Tuesday. It will be the largest acquisition in the history of Berkshire Hathaway. The boards of both companies — including board members of Fort Worth-based Burlington Northern Santa Fe (NYSE: BNI) — have approved the transaction. Omaha-based Berkshire Hathaway will buy up 77.4 percent of the BNI’s shares for $100 per share, the company said. When calculating shares already owned by Berkshire, the company will achieve 100 percent control of the business through this transaction. The transaction is valued at $44 billion and will include $10 billion in outstanding BNSF debt. “Our country’s future prosperity depends on its having an efficient and well-maintained rail system,” said Warren E. Buffett, Berkshire Hathaway chairman and chief executive officer, in a statement. “We are thrilled to
