Warren Buffett yesterday struck the biggest deal of his life with the $26bn purchase of Burlington Northern Santa Fe, one of the largest US railroad operators, in what the billionaire investor called an “all-in wager” on America's economic future.
The cash-and-shares deal by Mr Buffett's Berkshire Hathaway, which already has a 22.6 per cent stake in BNSF, caps a long search by the legendary investor for an “elephant” deal to deploy his vast cash pile.
The takeover deepens Mr Buffett's exposure to the US- focused old economy sectors that have long been the backbone of his empire alongside financial services, and underlines his confidence in a rebound in domestic growth.
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