Warren Buffett and the media by the BNSF Railway show on the Annual Berkshire Hathaway Shareholder’s Assembly in Omaha, NE on Might 6, 2017.
Lacy O’Toole | CNBC
Warren Buffett on Tuesday knocked down stories that Berkshire Hathaway-owned railroad BNSF was working with Goldman Sachs on a takeover of a rival.
The 94-year-old billionaire investor informed CNBC’s Becky Fast that nobody from Goldman had talked to him or Greg Abel, who is about to succeed Buffett as Berkshire CEO on the finish of the yr.
Buffett added that he wouldn’t search recommendation from exterior bankers on offers. The “Oracle of Omaha” has lengthy voiced disdain for costly intermediaries as banks normally have an enormous incentive to make offers.
On Monday, Semafor and Reuters reported, citing nameless sources, that Berkshire tapped Goldman to work on a possible takeover after rival Union Pacific expressed curiosity in Norfolk Southern.
In 2011, Berkshire purchased BNSF, one of many largest freight railroad networks in North America, paying $26.5 billion for the 77% of the corporate it did not beforehand personal.
