Highlights:  BNSF, Burlington Northern Santa Fe Railroad freight

BNSF, Warren Buffett buys Burlington Northern Santa Fe

Reuters: From corn to coal, more than 40 percent of the freight hauled throughout the United States is handled by rail.

The top four carriers are Union Pacific Corp, Burlington Northern Santa Fe Corp, CSX Corp, and Norfolk Southern Corp.

In 2008, No. 2 carrier Burlington Northern, which is based in Fort Worth, Texas, transported:

Warren Buffett buying Burlington Northern

♦ 2.5 million carloads of coal, enough coal to generate nearly 12 percent of the nation’s electricity.

♦ More than 23 million tons of wheat

♦ 31 million tonnes of exported agricultural products

♦ 66 million tons of consumer goods, such as clothing, toys and electronics

♦ 475 million small parcels and packages in partnership with parcel delivery companies

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Buffett to buy Burlington Northern in his biggest deal ever

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc will pay $26 billion to buy out railroad Burlington Northern Santa Fe Corp in what the billionaire investor called a bet on the U.S. economy.

The deal, Buffett’s biggest-ever acquisition, marks new interest in a storied but highly cyclical American industry that has tried to reinvent itself by emphasizing its ability to move goods cheaply and efficiently.   Read full story here

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Posted by: BBParks

Source Reuters

Highlights:  BNSF, Burlington Northern Santa Fe Railroad purchased by Warren Buffett.

Nov. 3 (Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. agreed to buy railroad Burlington Northern Santa Fe Corp. in what he described as an “all-in wager on the economic future of the United States.”

Factory Orders in U.S. Climb a Fifth Time in Six Months on Recovery Signs

The purchase, the largest ever for Berkshire, will cost the company $26 billion, or $100 a share in cash and stock, for the 77.4 percent of the railroad it doesn’t already own. Including his previous investment and debt assumption, the deal is valued at $44 billion, Omaha, Nebraska-based Berkshire said today in a statement. The railroad’s stock closed yesterday at $76.07.

Berkshire has been building a stake in the Fort Worth, Texas-based railroad for more than two years as Buffett looked for what he called an “elephant”-sized acquisition in which he could deploy his company’s cash hoard, which was more than $24 billion at the end of June. Trains stand to become more competitive against trucks with fuel prices high, he has said. Read full story here

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