LONDON (ShareCast) - Warren Buffett has dug deep and splashed out $44bn in cash and shares on the Burlington Northern Santa Fe railroad.
The Sage of Omaha's Berkshire Hathaway (NYSE: BRK-A
- news) investment vehicle, which already owns 22.6% of the business, is paying $100 a share for the rest of the firm.
A patriotic Buffett called the investment an "all-in wager on the economic future of the United States".
"Our country's future prosperity depends on its having an efficient and well-maintained rail system," read a statement Tuesday.
In a separate move, Berkshire surprised the market with news of a 50-for-1 split of its Class B common stock.
Today's acquisition, which includes $10bn of Burlington Northern debt, is the biggest in Berkshire's history.
The company already has large stakes in some of America's best known companies, including Coca-Cola, The Washington Post, American Express (NYSE: AXP - news) and Goldman Sachs (NYSE: GS - news) .
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