Billionaire investor Warren Buffett has just done his biggest deal ever: he's buying the Burlington Northern railroad for $34 billion. He already owns a lot of their stock, but this is still a huge deal....
>>>Billionaire investor Warren Buffett has just done his biggest deal ever: he's buying the Burlington Northern railroad for $34 billion. He already owns a lot of their stock, but this is still a huge deal.
Buffett has long been criticized as out of touch, but his investments in stable, old-fashioned businesses have usually paid off (which is why there are so many people who got rich solely by holding on to shares in his company!). But he's getting older, and must be thinking about retirement: is he doing an easy, simple deal so the company will be stable when he's not there to run it?
http://dealbook.blogs.nytimes.com/2009/11/03/berkshire-to-buy-rest-of-burlington-northern-for-44-billion/
