Berkshire To Part With Union Pacific, Norfolk Southern Stakes (UNP, NSC)
By Gordon Wilcox
November 09, 2009 3:40 PM
November 09, 2009 3:40 PM
Warren Buffett's Berkshire Hathaway (NYSE: BRK.A, BRK.B) will have to shed its massive stakes in railroad operators Union Pacific (NYSE: UNP) and Norfolk Southern (NYSE: NSC) as it moves to complete its $26.3 billion buyout of Burlington Northern Santa Fe (NYSE: BNI).
Berkshire plans to sell 9.6 million shares of Union Pacific and 1.9 million shares of Norfolk Southern. Both stocks are down on the news.
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