FTC advances Berkshire Hathaway acquisition of BNSF

Berkshire Hathaway Inc. and Burlington Northern Santa Fe Corporation said they have been granted early termination of the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended, in connection with the previously announced Berkshire acquisition of BNSF. This regulatory action is an important step in satisfying the closing conditions as set forth in the merger agreement. BNSF and Berkshire continue to expect the transaction to close in the first quarter of 2010.

Under the agreement,
Berkshire Hathaway will acquire for $100 per share in cash and stock the
remaining 77.4 percent of outstanding BNI shares not currently owned to
increase its holdings to 100 percent. Based on the number of outstanding BNI
shares (including shares currently owned by Berkshire) on Nov. 2, 2009, the
transaction is valued at approximately $44 billion, including $10 billion of
outstanding BNSF debt, making it the largest acquisition in Berkshire Hathaway
history.