Business NEWS
Warren Buffett Berkshire Hathaway to buy Burlington Northern Santa Fe Corp railway
By Robert J. Steiner for CEOWORLD Magazine Updated:November 3, 2009
Get CEOWORLD Magazine digital monthly version. special- Top Capital Cities for a business Traveler, # Interview with Minister of Tourism of Greece. 1 Issues Subscription= $1 Only, 10 Issues Subscription= $5 Only. Grab your copy now!!!!
Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) announced a deal to take over railroad operator Burlington Northern Santa Fe Corp (NYSE:BNI). In its largest-ever acquisition, Berkshire Hathaway Inc will pay $26 billion for Burlington Northern Santa Fe Corp.
It would also expand the already massive portfolio of companies Berkshire already owns. Brand-name businesses such as auto insurer Geico, See’s Candy and Fruit of the Loom are all subsidiaries of the Omaha, Neb.-based firm.
If you remember Buffett poured billions into preferred shares of General Electric (NYSE:GE) and Goldman Sachs (NYSE:GS) in late-2008, but have paid off in a big way.
Berkshire Hathaway Inc. already owns a stake of about 22 percent in Burlington Northern, and says it will pay $100 a share for the rest of the company.
In an interview on CNBC, Mr Buffett said that the deal with Burlington Northern came together quickly last week, when he made a proposal to Matthew Rose, the chairman and chief executive of the business. It took Mr Rose just 15 minutes to get approval from his board.
Related Reading:
BusinessThe tenth edition of this best-selling introductory text features an up-to-date, comprehensive survey of the functional areas of business: management,... Read More >
Samsill Regal Leather Business Card Wallet, Holds 25 Cards of 2 x 3.5 Inches, Black (81220)Genuine black leather business card wallet is enhanced with rounded corners and stitched edges. Features a card pocket on both sides to hold business and personal cards. Card Holder Type: Business Card Wallet, Global Product Type: Card Holders, Number of Compartments: N/A, Card Capacity: 25.
Small Business For DummiesWant to start the small business of your dreams? Want to breathe new life into the one you already have? Small Business For Dummies, 3rd Edition provi... Read More >
The Secret Language of Business: How to Read Anyone in 3 Seconds or LessThe Secret Language of Business reveals the secrets of body language and nonverbal communication. Successful professionals need more than just good co... Read More >
Understanding BusinessUnderstanding Business by Nickels, McHugh, and McHugh has been the number one textbook in the introduction to business market for several editions for... Read More >
Like this article!
(No Ratings Yet)
Loading ...171,221 views
Comments
Grab a copy of CEOWORLD Magazine for $1 only!!!
