Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
Warren Buffett believes in the United States' economic future, and yesterday (Tuesday) he put his money where his mouth is.
Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) acquired railroad Burlington Northern Santa Fe Corp. (NYSE: BNI) in a deal valued at $44 billion, the largest in Berkshire's history.
Berkshire, which already owns 22.6% of the company, will pay $100 per share in cash and stock for the remainder of Burlington's business. The offer values Burlington stock at a 31.5% premium to its Monday close. The deal, expected to close in the first quarter of next year, includes $10 billion in Burlington debt.
If this deal goes through, it might be the first totally private ownership of a major American Railroad in the history of this country
[…] has done just that. It recognized the immense opportunity and deployed its huge war chest in the greatest acquisition Warren Buffet has ever made – the roughly 76% of Burlington Northern Santa Fe Corp. (NYSE: BNI) that it did not already […]
[…] Money Morning: Buffett Bets on Bright U.S. Economic Future With Burlington Acquisition […]