Add-on Acquisition • Transportation

Berkshire Hathaway Acquires BNSF

On November 3, 2009, Berkshire Hathaway acquired transportation company BNSF for 44.0B USD

Acquisition Context
  • This is Berkshire Hathaway’s 3rd transaction in the Transportation sector.
  • This is Berkshire Hathaway’s largest (disclosed) transaction.
  • This is Berkshire Hathaway’s 50th transaction in the United States.
  • This is Berkshire Hathaway’s 5th transaction in Texas.

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M&A Deal Summary

Date November 3, 2009
Target BNSF
Sector Transportation
Buyer(s) Berkshire Hathaway
Deal Type Add-on Acquisition
Deal Value 44.0B USD
Advisor(s) Goldman Sachs
Evercore Group (Financial)
Cravath, Swaine & Moore (Legal)

Target Company

BNSF

Fort Worth, Texas, United States
BNSF's corporate headquarters in Fort Worth, Texas.
BNSF's corporate headquarters in Fort Worth, Texas.
BNSF is engaged primarily in the freight rail transportation business. The rail operations of BNSF Railway, BNSF’s principal operating subsidiary, comprise one of the largest railroad systems in North America.
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Buyer Overview 1

Buyer

Berkshire Hathaway

Omaha, Nebraska, United States

Category Company
Founded 1839
Sector Diversified
Employees392,400
Revenue 424.2B USD (2024)
DESCRIPTION
Berkshire Hathaway's corporate headquarters in Omaha, Nebraska.
Berkshire Hathaway's corporate headquarters in Omaha, Nebraska.

Berkshire Hathaway is a diversified holding company. Its subsidiaries engage in a wide range of business activities including insurance, utilities, renewable energy, freight rail transportation, finance, manufacturing, retailing, and business services. Berkshire Hathaway was founded in 1839 and is based in Omaha, Nebraska.


Deal Context for Buyer #
Overall 51 of 70
Sector: Transportation 3 of 4
Type: Add-on Acquisition 38 of 47
State: Texas 5 of 7
Country: United States 50 of 65
Year: 2009 2 of 2
Size (of disclosed) 1 of 40
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Berkadia

New York, New York, United States

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, offers a suite of services to multifamily and commercial property clients. Powered by deep relationships and industry-changing technology, Berkadia's people sell, finance, and service commercial real estate, providing support for the entire life cycle of clients’ assets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-07 Wesco Financial

Pasadena, California, United States

Wesco engages in three principal businesses through its own direct or indirect subsidiaries, including the insurance business, the furniture rental business and the steel service center business. Wesco’s operations also include the management of commercial and residential real estate.

Buy $548M