Buffett Dumping Rival Railroads For BNSF Deal

Law360, New York (November 10, 2009, 4:23 PM EST) -- Berkshire Hathaway Inc. has said it will sell off Norfolk Southern Corp. and Union Pacific Railroad Co. as part of its $34 billion acquisition of Burlington Northern Santa Fe Corp. in a bow to antitrust concerns over the deal.

In a conference call with investors on Nov. 3, Matt Rose — Burlington Northern's president, chairman and CEO — said that famed investor Warren Buffet's holding company held shares in the rival railroad companies and would sell them prior to completion of the transaction, according to a...
To view the full article, register now.