Buffet is buying his own train set just in time for Christmas.
We always knew that Warren Buffett loved the railroad stocks. We also had for years heard Buffett talk about the prospects of a “whale of a deal” in large acquisitions. And now this morning he is showing just how much. Berkshire Hathaway Inc. (NYSE: BRK-A) is acquiring Burlington Northern Santa Fe Corporation (NYSE: BNI). The terms call for $100.00 per share in cash and stock, well above the $76.07 closing bell price yesterday. Buffett already had a huge stake of 76.77 million shares, so he is buying the 77.4% stake he does not already own. It turns out that Warren is finally doing his whale of a deal. The transaction is valued at approximately $44 billion, if you include $10 billion of outstanding BNI debt. That makes this the largest transaction in Berkshire Hathaway history.
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