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Buffett's ($BRK.B) firm to buy Burlington Northern ($BNI)

Warren Buffett's Berkshire Hathaway said Tuesday it will buy railroad operator Burlington Northern Santa Fe for $44 billion. Berkshire (BRKA, Fortune 500), which already has major stake in Burlington Northern, said it would acquire the remaining 77.4% of the company in a cash-and-stock offer worth $100 per share. Widely regarded as both one of the world's richest men and the investment community's more brilliant minds, Buffett called his firm's investment an "all-in wager on the economic future of the United States." "Our country's future prosperity depends on its having an efficient and well-maintained rail system," Buffett said in a statement.

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1 total votes | Comments (0) | Created by steve on 2009-11-03 - Login to vote or comment!