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Berkshire Hathaway OKs 50-For-1 Stock Split; Purchases BNSF Railroad
Already a stake holder in the railroad company, Berkshire Hathaway has sealed a deal to purchase Fort Worth-based Burlington Northern Santa Fe Corp.
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On the heels of an announced vote on a stock split, Berkshire Hathaway Chief Executive Officer Warren Buffett sealed a deal Monday, Nov. 2, 2009 to purchase Texas-based Burlington Northern Santa Fe Corp. (AP)
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NEW YORK (November 03, 2009)-Warren Buffett's Berkshire Hathaway Inc. is letting the shareholders decide on whether to split the iconic company's Class B shares.
Holders of the relatively low-cost shares will vote on a 50-for-1 stock split approved by the Berkshire Hathaway board, the company says.
The Class B shares closed Monday at $3,265, a fraction of the price of Class A shares, which ended the session at $98,750.
Warren Buffet's Berkshire Hathaway has agreed to buy Fort Worth-based Burlington Northern Santa Fe in a $34 billion deal.
Berkshire Hathaway already owns about 22 percent a stake in Burlington Northern and is offering to pay $100 a share for the rest of the rail company.
The announcement comes on the same day Berkshire Hathaway said it would buy the Burlington Northern Santa Fe Corp.
Berkshire has agreed to pay $26.3 billion in cash and stock for the 77.4 percent of the company it doesn't already own, valuing the entire company at $34 billion.
BNSF is headquartered in Fort Worth and operates a switchyard locally in Temple.
It was not made clear in the Associated Press report what affect the sale would have on local operation.
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Well, Like a lot of people, Warren Buffet seems to think the US economy is about to come back real strong. I think it will also.
I guess Mr. Buffett is going to try and make himself 'more' billions of dollars($$$$$$)?? Personally don't know if this is good or bad. BNSF is actually run/operated out of Chicago, via sattelite.
