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Published on 12/10/2009 in the Prospect News Special Situations Daily.

Burlington Northern sets meeting date for Berkshire Hathaway vote

By Lisa Kerner

Charlotte, N.C., Dec. 10 - Burlington Northern Santa Fe Corp. shareholders will be asked to approve the company's acquisition by Berkshire Hathaway Inc. at a special meeting at 10 a.m. ET on Feb. 11.

The record date for the meeting is Dec. 18, according to a Burlington Northern news release.

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.

Both companies' boards of directors approved the deal, which is slated to close during the first quarter of 2010.

In addition, the Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the deal, according to a government report.

Berkshire Hathaway is a financial holding company based in Omaha.


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