Wednesday, November 4, 2009

Warren Buffett adds a railroad to the portfolio


You may not be ready to bet on the U.S. economic recovery, but Warren Buffett sure is.

The billionaire made a splash Tuesday when his investment firm, Berkshire Hathaway ( BRK - news - people ), announced a deal to take over railroad operator Burlington Northern Santa Fe ( BNI - news - people ). The cash-and-stock deal is worth $100 a share for the 77.4% of the company Berkshire didn't already own, for a price tag near $34 billion.


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