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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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2 Comments 
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.
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 Class B shares closed Monday at $3,265, a fraction of the price of Class A shares, which ended the session at $98,750.
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.
Latest Comments
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.
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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.
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