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Burlington Northern Santa Fe Corporation board under investigation. Investigation on behalf of investors of Burlington Northern Santa Fe Corporation (Public, NYSE:BNI) shares over possible breach of fiduciary duty by the Burlington Northern Santa Fe board of directors – Contact us at
(AP Photo/Nati Harnik, file) FILE - In this May 5, 2009 file photo, idle Burlington Northern Santa Fe locomotives sit in a rail yard in Lincoln, Neb. Warren Buffet's Berkshire Hathaway said Tuesday, Nov.
NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of Burlington Northern Santa Fe Corp. (“Burlington” or
http://finance.yahoo.com/news/Levi-amp-Korsinsky-LLP-bw-1772263031.html?x=0&.v=1
NEW YORK, November 4 (newratings.com) - Analysts at UBS downgrade Burlington North Santa Fe (ticker: BNI) from "buy" to "neutral." [more]
http://www.newratings.com/en/main/company_headline.m?id=1985771
Total : 21 View more »
SAN DIEGO, CA, Nov 06, 2009 (MARKETWIRE via COMTEX) --
The Shareholders Foundation Inc. announces that a lawsuit has been filed in Texas State Court on behalf of investors in Burlington Northern Santa Fe Corporation over alleged breaches of fiduciary duty in connection with an alleged unfair takeover by Berkshire Hathaway Inc.
On Nov. 3, 2009, the boards of directors of Burlington Northern Santa Fe Corporation (BNI) and Berkshire Hathaway announced an agreement for Berkshire Hathaway to acquire BNI for $100 per share in cash and stock. The transaction is valued at approximately $44 billion.
The complaint alleges, among other things, that the defendants engaged in secret negotiations and the board of Burlington Northern agreed to coercive deal lock-up provisions by agreeing to a matching right, a no-solicitation provision and a termination fee of $264 million.
In addition, the plaintiff alleges besides that the takeover is belatedly disclosed to the market that defendants' personal gain will arise out of the shareholder approval. One director alone will receive $7.4million in change in control benefits even if nobody -- including him -- loses their jobs and each director defendant holds about 12,000 restricted stock units paid at the end of 2008.
Shares of Burlington Northern Santa Fe Corporation traded at about $77.50 per share the day before the announcement and at about $97.50 per share after the news. BNI reached $107.40 per share in August 2008 and $113.05 per share in May 2008.
Those who currently are investors in shares of Burlington Northern Santa Fe Corporation and purchased their shares before Nov. 3, 2009, should contact the Shareholders Foundation Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation Inc. is an investor advocacy group which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The group offers help, support and assistance for every shareholder, and investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Trevor Allen Shareholders Foundation, Inc. 3111 Camino Del Rio North Suite 423 San Diego, CA 92108 PHONE. +1 (858) 779 - 1554
SOURCE: Shareholders Foundation, Inc.
Tags: acquisition e-mail foundation law lawsuit legal market research securities takeover texas
Companies: Burlington Northern Santa Fe Corp. (BNI)
Nov 04, 2009 (EWORLDWIRE via Comtex) --
The Shareholders Foundation Inc. (http://www.shareholdersfoundation.com') announces an investigation on behalf of current investors of Burlington Northern Santa Fe Corporation (NYSE:BNI), who purchased the BNI shares before Nov. 3, 2009, was initiated over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price. The investigation focuses on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of Burlington Northern Santa Fe Corporation arising out of an attempt to sell Burlington Northern Santa Fe Corp to Berkshire Hathaway Inc. (NYSE: BRK-A).
On Nov. 3, 2009, boards of directors of Burlington Northern Santa Fe Corporation (BNSF; NYSE: BNI) and Berkshire Hathaway announced an agreement for Berkshire Hathaway to acquire BNSF for $100 per share in cash and stock the remaining 77.4 percent of outstanding BNI shares not currently owned. The transaction is valued at approximately $44 billion.
According to [NAME] law firm which performed the investigation, "The transaction appears to be unfair," because the "offer to purchase Burlington Northern Santa Fe Corporation (BNI) at $100 per share appears opportunistically timed to take advantage of the current economic downturn."
The firm's investigation "concerns whether the directors of Burlington Northern Santa Fe Corporation may have breached their fiduciary duties by not acting in BNI shareholders' best interests," and "the company may not have adequately shopped itself around before entering into this transaction."
Shares of Burlington Northern Santa Fe Corporation traded at about $77.50 per share the day before the announcement and at about $97.50 per share after the news. BNI reached $107.40 per share in August 2008 and $113.05 per share in May 2008.
Those who currently are investors in shares of Burlington Northern Santa Fe Corporation and purchased the shares before Nov. 3, 2009, or have additional information relating to the investigation should contact the Shareholders Foundation Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
HTML: http://www.eworldwire.com/pressreleases/211340
PDF: http://www.eworldwire.com/pdf/211340.pdf
ONLINE NEWSROOM: http://www.eworldwire.com/newsroom/314586
RSS NEWSROOM: http://newsroom.eworldwire.com/xml/newsrooms/314586.xml
Source: Shareholders Foundation
Trevor Allen Shareholders Foundation, Inc. 3111 Camino Del Rio North Suite 423 San Diego, CA 92108 PHONE. +1 (858) 779 - 1554
Tags: acquisition e-mail foundation html investigation law nyse online takeover
Companies: Berkshire Hathaway Inc (BRK/A), Burlington Northern Santa Fe Corp. (BNI)
Nov 03, 2009 (SmarTrend(R) News Watch via COMTEX) --
11/3/2009-Berkshire Hathaway (NYSE:BRK.A) announced Tuesday morning that it has entered into a definitive agreement to acquire the remaining 74.4% of Burlington Northern Santa Fe (NYSE:BNI) for $100 per share in a cash and stock deal.
The transaction is valued at approximately $44 billion, which includes $10 billion of outstanding BNSF debt, which makes the acquisition Berkshire's largest ever.
"Our country's future prosperity depends on its having an efficient and well-maintained rail system," said Warren E. Buffett, Berkshire Hathaway Chairman and Chief Executive Officer.
"Conversely, America must grow and prosper for railroads to do well. Berkshire's $34 billion investment in BNSF is a huge bet on that company, CEO Matt Rose and his team, and the railroad industry.
"Most important of all, however, it's an all-in wager on the economic future of the United States," said Mr. Buffett. "I love these bets."
In addition, Berkshire Hathaway's board of directors announced Tuesday morning that it has approved a 50-for-1 split of its Class B Common stock. The split is still subject to the approval of Berkshire's shareholders.
Write to Chip Brian at cbrian@tradethetrend.com
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Tags: acquisition ceo debt investment market nyse railroads securities
Companies: Burlington Northern Santa Fe Corp. (BNI)
NEW YORK, Nov 03, 2009 (BUSINESS WIRE) --
Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Burlington Northern Santa Fe Corp. ("Burlington" or the "Company") (NYSE:BNI) arising out of the proposed acquisition of Burlington by Berkshire Hathaway, Inc. ("Berkshire").
On Tuesday, November 3, 2009, Burlington and Berkshire announced that Berkshire will acquire the remaining 77.4% of Burlington shares it does not already own in a cash and stock offer valued at approximately $44 billion. Under the terms of the agreement, the Company's stockholders will either receive cash of $100 or a variable number of shares of Berkshire Class A or Class B common stock, subject to proration if the elections of the shareholder do not equal approximately 60 percent in cash and 40 percent in stock in exchange for each share of Burlington common stock. However, the Company may not have adequately shopped itself around before entering into this transaction and, pursuant to this proposed transaction, Berkshire may be underpaying for Burlington, thus unlawfully harming Burlington shareholders.
Wolf Haldenstein has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in U.S. federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.
If you own Burlington common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Gustavo Bruckner or Derek Behnke
Wolf Haldenstein Adler Freeman & Herz LLP
270 Madison Avenue
New York, New York 10016
Phone Numbers: (800) 575-0735
(212) 545-4600
Email: bruckner@whafh.com
Classmember@whafh.com
Website: http://www.whafh.com Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
SOURCE: Wolf Haldenstein Adler Freeman & Herz LLP
Wolf Haldenstein Adler Freeman & Herz LLP Gustavo Bruckner or Derek Behnke 800-575-0735 or 212-545-4600 bruckner@whafh.com Classmember@whafh.com
Tags: acquisition advertising email new_york nyse
Companies: Berkshire Hathaway Inc (BRK/A), Burlington Northern Santa Fe Corp. (BNI)
Total : 60 View more »
Burlington Northern Santa Fe Corporation on Jan. 21 reported quarterly earnings of $1.79 per diluted share, an increase of 23 percent compared with fourth-quarter 2007 earnings of $1.46 per share. “I am proud of what we achieved in a very difficult year.
http://www.bnsf.com/employees/communications/bnsf_today/2009/01/2009-01-22-a.html
Director of BHP Limited since November 1996 and Chairman since April 1999. Chairman of BHP Billiton Limited and BHP Billiton Plc since June 2001. Mr Argus is standing for re-election at the 2008 Annual General Meetings.
Since the firm’s inception, Bowman, Barrett & Associates Inc. has been recognized by several industry organizations for outstanding engineering service on notable area projects.
Burlington Northern Santa Fe 1998/1999 Motive Power Annual Shippen & Shine 160 pages of color photos and rosters List Price: $49.95 Our Price: $39.
Total : 23,300,000 View more »
The BNSF Railway home page, an entry point to services and corporate information.
BNSF is Hiring! Search our railroad jobs and apply online. It's your career; see how far you can go with BNSF.
Burlington Northern Santa Fe Corporation (NYSE: BNI) is the parent company of the BNSF Railway (formerly the Burlington Northern and Santa Fe Railway).
http://en.wikipedia.org/wiki/Burlington_Northern_Santa_Fe_Corporation
Get the latest on Burlington Northern Santa Fe Corporation including up to date news, high quality discussion groups and more on Google Finance.
At approximately 5:16 a.m., on August 23, 1997, Union Pacific Railroad Company (UP) loaded eastbound coal train CRMLU-22 collided with the rear car of standing Burlington Northern Santa Fe Railway Company (BNSF) eastbound loaded coal train CRCMWAGO-045A.