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Warren Buffett to Buy a Railroad

Warren Buffett's firm, Berkshire Hathaway Inc., made a deal to buy railroad Burlington Northern Santa Fe Corp. Tuesday, agreeing to purchase the 77.4 percent of the company it doesn't already own at $100 a share. The railroad's stock closed Monday at $76.07 a share but approached $100 in pre-market trading immediately after the deal announcement. The transaction, which would rank as the largest takeover in Berkshire's history, is valued at $44 billion. Buffett, the country’s richest man and one of the most influential market movers, is calling the purchase "an all-in wager on the economic future of the United States."