Buffett buys out second largest U.S. railroad company
Published: 03/11/2009 05:00
| Renowned investor Warren Buffett has put his biggest bet on Burlington Northern Santa Fe Corp (BNSF), second largest U.S. railroad company, according to a statement released on Tuesday.
Plus BNSF’s 10 billion-dollar debt that Berkshire has agreed to take, the value of the deal will top 44 billion dollars, which is the biggest acquisition ever for Berkshire. The investment in BNSF is “a huge bet on that company, CEO MattRose and his team, and the railroad industry,” Buffett said in the statement. “It’s an all-in wager on the economic future of the United States. I love these bets,” he said. The deal has been approved by boards of both companies, and will be completed in the first quarter next year. VietNamNet/Xinhuanet |
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