Burlington Northern, Berkshire Hathaway merger closer to completion

By Lisa Kerner

Charlotte, N.C., Dec. 7 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in Berkshire Hathaway Inc.'s proposed acquisition of Burlington Northern Santa Fe Corp., according to a government report.

In November, it was announced that Burlington Northern, a Fort Worth transportation company, agreed to be acquired by Berkshire Hathaway for $100 per share in cash and stock.

As previously reported, Burlington Northern shareholders can elect to receive $100 in cash or a variable number of shares of Berkshire Hathaway class A or class B common stock, subject to proration if the elections do not equal approximately 60% in cash and 40% in stock.

Each company's board of directors approved the deal, which is slated to close during the first quarter of 2010.

Berkshire Hathaway is a financial holding company based in Omaha.

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