Buffett may boost stake in Burlington Northern
The billionaire's Berkshire Hathaway may increase its stake in the railroad company to 25 percent after boosting it to nearly 15 percent just last week.
NEW YORK (CNNMoney.com) -- Billionaire investor Warren Buffett may boost his stake in railroad company Burlington Northern Santa Fe to 25 percent, according to a filing with the Securities and Exchange Commission.
Berkshire Hathaway (Charts, Fortune 500) has a "good faith intention" to buy more than $597.9 million, in addition to the 52.13 million shares of the stock it already owns, according to a document filed by Burlington Northern (Charts, Fortune 500) with the SEC late Friday. Depending on market conditions, Berkshire may acquire more shares, sending its stake past the 25 percent mark.
The notice comes just one week after Buffett's investment conglomerate increased its stake in Burlington Northern to 52.13 million shares, or 14.8 percent of the company.