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Buffett eyes more railroad shares

September 05, 2007|From Times Wire Services

Warren E. Buffett's investment firm may boost its stake in Burlington Northern Santa Fe Corp. to 25%, according to documents filed with the Securities and Exchange Commission.

Berkshire Hathaway Inc., based in Omaha, already owns 15% of the nation's second-largest railroad after buying nearly 14 million shares of Burlington Northern stock in August.

The railroad, based in Fort Worth, said in an SEC filing Friday that Berkshire had notified the railroad that it planned to invest nearly $598 million in Burlington Northern stock in addition to the 52.13 million shares it already owned.

Federal regulators will examine the proposed purchase to determine whether it would violate antitrust provisions of the Hart-Scott-Rodino Act.

Shares of Burlington Northern stock gained $1.75 on Tuesday to close at $82.90. The stock continued rising in after-hours trading to $84.

Class A shares of Berkshire stock gained $910 to close at $119,300.

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