US Edition
Report: Goldman Sachs Advising BNSF on Potential Merger
UNITED STATES, JUL 21 – BNSF Railway is working with Goldman Sachs to evaluate a merger or acquisition to remain competitive amid industry consolidation led by Union Pacific, sources said.
- BNSF, a major freight railroad owned by Berkshire Hathaway, is reportedly collaborating with Goldman Sachs to investigate the possibility of merging with a competitor in 2025.
- This exploration follows recent reports that Union Pacific is pursuing a takeover of Norfolk Southern amid ongoing merger talks and railroad industry pressures.
- Warren Buffett, CEO of Berkshire Hathaway, stated that neither he nor his designated successor Greg Abel had been contacted by Goldman Sachs, and emphasized that they do not rely on outside bankers for guidance on transactions.
- Berkshire acquired BNSF in 2010, paying $26.5 billion for a majority stake, while recent trading showed CSX shares up 1.5% and Norfolk Southern up 0.7%, reflecting market interest.
- The potential BNSF merger and Union Pacific's bid could reshape the railroad industry, testing regulatory scrutiny and possibly triggering competitive consolidation among major railroads.
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trains.com
FreightWavesReport: Goldman Sachs advising BNSF on potential merger
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Berkshire-owned BNSF taps bankers for its own rail acquisition
The ScoopBNSF, the railroad giant owned by Warren Buffett’s Berkshire Hathaway, is working with Goldman Sachs to explore a takeover of a rival, according to people familiar with the matter.Its interest comes as its chief rival, Union Pacific, pursues a takeover of Norfolk Southern, Semafor reported Thursday, which would create the country’s only coast-to-coast railroad and leave BNSF at a disadvantage. (Both Union Pacific and Berkshire are headq…
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