Buffett's Berkshire Hathaway buys Burlington Northern in $44 billion deal
Warren Buffett's Berkshire Hathaway (BRK.A) announces that it will buy the remaining stake that it does not already own in railroad giant Burlington Northern Santa Fe (BNI). The deal is valued at approximately $44 billion, including $10 billion of outstanding BNSF debt, making it the largest acquisition in Berkshire Hathaway's history.
"Our country's future prosperity depends on its having an efficient and well-maintained rail system," Buffett said in a press release. "Conversely, America must grow and prosper for railroads to do well. Berkshire's $34 billion investment in BNSF is a huge bet on that company, CEO Matt Rose and his team, and the railroad industry."