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Warren Buffett boosts stake in BNSF
01:39 PM CST on Thursday, January 10, 2008
OMAHA, Neb. – Warren Buffett's Berkshire Hathaway Inc. bought 29,600 more shares of Burlington Northern Santa Fe stock, giving Berkshire ownership of 17.4 percent of the nation's second-largest railroad.
Documents filed with the Securities and Exchange Commission on Thursday reveal that Berkshire bought the stock Monday when Burlington Northern's stock dipped below $77 a share. The filing said Berkshire paid $76.55 for each of the shares, or about $2.3 million.
Buffett's company now owns 60.9 million shares of Burlington Northern Santa Fe Inc., which is based in Fort Worth, Texas. Its shares rose $1.56, or 2 percent, to $79.41 in midday trading Thursday.
Berkshire officials do not typically comment on the company's stock holdings.
Berkshire owns furniture, insurance, jewelry and candy companies, restaurants, natural gas and corporate jet firms and has major investments in such companies as The Coca-Cola Co. and Wells Fargo & Co.
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