Berkshire Hathaway has secured an $8 billion loan to help pay for its acquisition of Burlington Northern Santa Fe Corp for $26.8 billion.
In documents filed with the Securities and Exchange Commission, Warren Buffett’s company said that it signed the financing deal with JPMorgan Chase and Wells Fargo, planning to borrow half of the $16 billion cash needed for the deal and paying it back over three years.
Berkshire, which holds a 23 percent stake in the railroad, will pay $100 per share in cash and stock for all the Burlington Northern shares it doesn’t own.
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