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Buffett soon to take over Burlington Northern Santa Fe
Calcutta News.Net
Tuesday 8th December, 2009
Berkshire Hathaway, the Warren Buffett company, has said it should soon be able to acquire railroad operator Burlington Northern Santa Fe Corp.
The Federal Trade Commission has ended a review of the proposed $26.3 billion acquisition, giving Berkshire and BNSF an oppotunity to close the deal in the first quarter of next year.
Burlington Northern has major operations in the Kansas City area, where it maintains a large rail hub and is currently building a freight centre.
In early November, Berkshire agreed to pay $100 per share in cash and stock for the 77.4 percent of BNSF shares that it doesn't already own.
Burlington Northern hauls grain, coal and consumer products over 32,000 miles of track in 28 US states and two Canadian provinces.
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