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Article: United States : Buffett to Sell Other Railroad Stakes.
- Article from:
- TendersInfo
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: rakshali03
The chief executive of Burlington Northern Santa Fe Corp. said Warren Buffett's Berkshire Hathaway Inc. is liquidating its stakes in rival railroad companies Norfolk Southern Corp. and Union Pacific Corp., as Berkshire prepares to close its purchase of Burlington Northern.
According to a regulatory filing Monday, Burlington Northern CEO Matthew Rose told employees on a Nov. 3 conference call that Berkshire "will be disposing of both those holdings between now and the transaction date." A Berkshire spokeswoman had no immediate comment. Spokesmen for Union Pacific and Norfolk Southern didn't respond to requests for comment.
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