In a release from Warren Buffett’s Berkshire Hathaway November 3rd, Berkshire Hathaway will buy railroad operator BNSF for $44 billion.
Federal regulatory approval will be necessary. The current BNSF management team will remain in place and the railroad will continue to be headquartered in Ft. Worth, Texas.
Berkshire, which already has a major stake in the company, said it would acquire the remaining 77.4 percent of the company in a cash-and-stock offer worth $100 per share.
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.”
Click here for the release from BNSF.