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Berkshire Hathaway (NYSE: BRK.A) is acquiring 77% of the remaining stocks in Burlington Northern Santa Fe (NYSE: BNI) for $100 a share and the assumption of its $10 billion in debt. The acquisition of the remaining 77% will give Berkshire Hathaway 100% ownership of the said company. Following this Most of the railway stocks are active in morning trade.
Union Pacific Corporation (NYSE:UNP), a competitor for Burlington, climbed 5.56% to $58.12. Union Pacific Corporation (UPC) is engaged in the transportation business. The Company’s operating company, Union Pacific Railroad Company (UPRR), links 23 states in the western two-thirds of the United States.
CSX Corporation (NYSE:CSX) jumped 6.79% to $45.75. CSX Corporation (CSX) is a transportation company. The Company operates in two segments: rail and intermodal. The Company’s rail and intermodal businesses provide rail-based transportation services, including traditional rail service and the transport of intermodal containers and trailers.
Norfolk Southern Corp. (NYSE:NSC) rallied 5.50% to $49.20 and Genesee & Wyoming Inc. (NYSE:GWR) soared 7.25% to $31.50.
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