burlington northern
Berkshire Hathaway Inc. agreed to buy 77.4%, and Burlington Northern Santa Fe Corp., is already about 26 billion dollars in cash and shares. The deal, the largest ever acquisition of Berkshire, all values of the company which manages the railroad $ 34 million.
"Berkshire's $34 billion investment in BNSF is a huge bet on that company," Berkshire Chairman and Chief Executive Warren Buffett said in prepared statement. "Most important of all, however, it's an all-in wager on the economic future of the United States," Mr. Buffett said. "I love those bets." Mr. Buffett's move appears to be a bet that the freight industry is poised for recovery, though it hasn't shown much of a rebound yet. The best that most rail executives have said about freight volume is that it seems to have hit bottom.
Burlington is considered as one of the best managed American railways, but under performed rivals in recent months and the last cut in the fourth quarter is expected. The company is a billion-dollar sales last year was 18:02, to just 1 No railway company in the U.S., ahead of Union Pacific Corp.
