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Fast Time for Buffett's Biggest Deal
The ride to Berkshire Hathaway's ownership of Burlington Northern Santa Fe Corp. started on Oct 22, when Berkshire's chairman Warren Buffett met with Burlington CEO Matthew Rose at the Ashton Hotel in Fort Worth, Texas following a company board meeting. Rose says that the day after the "relatively short conversation," the two men "fired up the process," with the CEO taking the $100-a-share offer to his board. That weekend, Rose hired Goldman Sachs to analyze the bid, bringing in Evercore Partners Inc. to assist, since Berkshire has a substantial stake in Goldman. Over the next week, Buffett and Rose hammered out the details, and the Burlington board approved the sale on Monday in Detroit. The same evening, Berkshire's board approved the deal, and Buffett announced it Tuesday morning. The $100-a-share deal gives Berkshire the remaining 77.4 percent of Burlington stock not already owned by the holding company at a total value of about $44 billion.
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It's a smart move since he knows that new kinds of high speed rail are coming, and that at least half of the country's freight moves by rail. Upgrading and modernizing the railroads so that our system is as good as those in other Western countries is one thing that would really stimulate the economy and create jobs.
No one will ever be able to figure out a way to outsource railroads to India and China like they have with everything else.
mcm is 100% right. Buffett is a financial genius, and his timing is excellent as well. He is buying BN when the price is low due to the recession.
There it is America,Goldman Sachs is freemason enterprise out to crush anybody anything in there way......! I don't care if Mr.Buffet is major share holder , he has to anwser to the American people who bailed out his stocks in Goldman sachs ........! The New Global Order is in full swing on Wall st
It is not new in any way.
um matt
he doesnt have to answer to the american people
the only thing he needs to do is abide by the same laws that you and i abide by
Thank you.
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