Burlington-Berkshire merger gets a yes vote

Published 4:00 am Friday, February 12, 2010

NEW YORK — Burlington Northern Santa Fe Corp. investors owning about 70 percent of the company’s shares voted in favor of the $26 billion merger with Warren Buffett’s Berkshire Hathaway Inc., the railroad’s chief executive officer said Thursday.

The companies expect to complete the deal around noon today, CEO Matt Rose said at a press conference in Fort Worth, Texas, where the railroad is based.

Buffett, the second-richest American, has described Berkshire’s purchase of Burlington Northern as an “all-in wager” on the U.S. economy. He’s said the deal will produce income for Berkshire for “the next century” as he positions the company to profit from his investments after his reign as chairman, CEO and largest shareholder comes to a close.