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...
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