Already owning a 22% stake in the Burlington Northern Santa Fe Railroad, Warren Buffet announced earlier Tuesday that his Berkshire-Hathaway Group reached an agreement with BNSF's board of directors to purchase the remaining shares of BNSF in a $44 billion deal. This would make the railroad the single largest investment by Berkshire-Hathaway [NYSE: BRK-A].
Wall Street seemed to take the news rather well.
Burlington Northern Santa Fe [NYSE: BNI] closed at $97 a share, up 27.51% in a single day.
Canadian National [NYSE: CNI] closed at $49.99, up 2.73%
Canadian Pacific [NYSE: CP] closed at $45.53, up 4.24%
CSX Transportation [NYSE: CSX] closed at $45.97, up 7.31%
Kansas City Southern [NYSE: KSU] closed at $25.79, up 7.1%
Norfolk Southern [NYSE: NSC] closed at $45.15, up 5.4%
Omaha-based Union Pacific [NYSE: UNP] closed at $59.41, up 7.9%