Transportation
Buffett Keeps Riding The Reading Railroad (BNI)
Published:
Last Updated:
Burlington Northern Santa Fe Corp. (NYSE: BNI) does not have a new shareholder. But Warren Buffet’s Berkshire Hathaway Inc. (NYSE: BRK-A) did increase the size of the stake held in Burlington Northern. In another unusual Buffett style move, this was not just a normal "let’s just buy some more of this one."
Warren Buffett and friends exercised options contracts on the vestingand expiration date of December 11 at $75.45 for some 2,217,500shares. Buffett now holds 70,089,029 shares, or a stake of 20.47% inBurlington Northern.
This is via the National Indemnity Company subsidiary of BerkshireHathaway. As reported on a Form 4 filed December 5, the "NICO"unit wrote a put option on December 3, pursuant to which it isobligated to buy 2,325,000 shares of BNI Common Stock from Citibank,N.A. for an exercise price of $75.00 per share, if Citibank exercisesthe put option.
Shares closed up 0.2% today at $71.53. The 52-week trading range is $68.31 to $114.58.
- Buffett did another synthetic trade like this in BNI, which he was later "put" in the shares.
- Full Buffett Holdings as of his last report
Jon C. Ogg
December 15, 2008
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
