Berkshire Hathaway acquired Burlington Northern Santa Fe Corporation (BNSF) for Approximately $34 billion for the ~77.4% Berkshire did not already own ($100 per share); ~$44 billion enterprise value including assumed debt, a transaction completed in February 2010, structured as combination (cash and stock).
Burlington Northern Santa Fe Corporation (BNSF) operates in Railroad / transportation. Berkshire, which already held about 22.6% of BNSF, agreed on November 2, 2009 to acquire the remaining shares of the railroad for $100 per share in a cash-and-stock deal, and it approved a 50-for-1 split of its Class B stock so that even small BNSF holders could elect a tax-free share exchange. BNSF operates one of North America's largest freight rail networks.
Buffett framed the purchase as a long-horizon bet on the U.S. economy, saying Berkshire intends to hold the railroad indefinitely.
Irreplaceable rail infrastructure with pricing power and a fuel-efficiency edge over trucking.
If we're going to hold something for a hundred years, the next week or month or year doesn't really make any difference... We're in for keeps.Warren Buffett, Chairman and CEO, Berkshire Hathaway (CNBC interview filed under Rule 425)
Warren, your 34 billion dollar deal is the largest that Berkshire Hathaway has ever completed.Becky Quick, CNBC (Rule 425 filing)
Advisory firms were not disclosed for this transaction.