Buffet Reduced Stakes In P&G, J&J To Fund Acquisition (BRK.A, PG, JNJ, COP, GS, GE, BNI)

Warren Buffett’s Berkshire Hathaway, Inc. (NYSE: BRK.A) sold stakes in Procter& Gamble (NYSE: PG), and Johnson & Johnson (NYSE: JNJ) to fund the acquisition of Burlington Northern Santa Fe Corporation (NYSE: BNI).

The company also sold 34 % of ConocoPhillips (NYSE: COP) to fund the largest acquisition by Berkshire. Incidentally, these are the same stocks that Buffett’s company sold in 2008 to increase investments in Goldman Sachs (NYSE: GS), and General Electric Co. (NYSE: GE).

“It is basically raising extra liquidity for Burlington Northern,” said Glenn Tongue, a partner at T2 Partners LLC, which owns Berkshire shares. Buffett “always said he was willing to sell stocks to buy whole businesses.”