Berkshire Hathaway announced on Monday that it is acquiring 77 percent of the country's largest railroad, Burlington Northern Santa Fe, for $34 billion in cash and stock. Berkshire, the holding company for the assets of Warren Buffett, the world's second-richest man, already owns the other 23 percent. Also, toolmakers The Stanley Works and Black & Decker are merging in a $3.5 billion all-stock transaction.
November 05, 2009 at 12:00 AM
1 minute read
Berkshire Hathaway announced on Monday that it is acquiring 77 percent of the country’s largest railroad, Burlington Northern Santa Fe (BNSF), for $34 billion in cash and stock. Berkshire, the holding company for the assets of Warren Buffett, the world’s second-richest man, already owns the other 23 percent.
“It’s an all-in wager on the economic future of the United States,” Mr. Buffet said in a statement announcing the acquisition. “I love these bets.”
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