Warren Buffett on Tuesday struck his biggest deal with the $26.6bn purchase of Burlington Northern Santa Fe, one of the largest US railroad operators, in what the billionaire investor called an “all-in wager” on America’s economic future. The cash-and-shares deal by Buffett’s Berkshire Hathaway, which already owns 22.6% of BNSF, caps a long search for an “elephant” deal to deploy his vast cash pile. It values Texas-based BNSF at $44bn, including $10bn of debt and Berkshire’s existing stake. See also Lex and FT Alphaville.
