Just saw this on Squawk Box a few minutes ago. He is buying the rest of the railroad that he does not already own for $100 per share in cash and Berkshire Hatheway class B stock, which he is splitting 50 to 1. The stock prices of all the other Class 1 railroads are jumping in premarket trading.
Warren is calling this "a large bet on the future prosperity of America."
Personally, I think this is great news for BNSF as Buffet believes in long term planning and capital investment.
Here's a link: http://www.cnbc.com/id/33599584
More news at 11:00.
Warren is calling this "a large bet on the future prosperity of America."
Personally, I think this is great news for BNSF as Buffet believes in long term planning and capital investment.
Here's a link: http://www.cnbc.com/id/33599584
More news at 11:00.
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