Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.A, BRK. B) said Monday that the Federal Trade Commission ended a review of Berkshire's proposed acquisition of railroad operator Burlington Northern Santa Fe Corp. (NYSE: BNI), according to Associated Press.
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The news moves the $26.3 billion deal between the two companies a step closer to completion.
Berkshire and BNSF said they continue to expect the deal to close in the first quarter of next year.
In early November, Berkshire agreed to pay $100 per share in cash and stock for the 77.4 percent of BNSF shares that it didn't already own. The purchase would be the largest ever for Buffett's investment firm.
Burlington Northern owns BNSF Railway Co., which operates 32,000 miles of track in 28 states and two Canadian provinces. It is a major hauler of grain, coal and consumer products.
Berkshire built its stake in Burlington Northern over the past two years before announcing plans to buy the entire company.
Burlington Northern shares rose 12 cents to $98.78 in midday trading.
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