NEW YORK, Nov. 3, 2009 (GLOBE NEWSWIRE) -- Attorney Advertising. The law firm of Harwood Feffer LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Burlington Northern Santa Fe Corporation ("BNSF") (NYSE:BNI) arising out of the proposed acquisition of BNSF by Berkshire Hathaway Inc. ("Berkshire Hathaway") (NYSE:BRK).
On November 3, 2009, the boards of directors of Berkshire Hathaway and BNSF announced a definitive agreement for Berkshire Hathaway to acquire, for $100 per share in cash and stock, the remaining 77.4 percent of outstanding BNI shares not currently owned to increase its holdings to 100 percent. Based on the number of outstanding BNI shares (including shares currently owned by Berkshire) on November 3, 2009, the transaction is valued at approximately $44 billion, including $10 billion of outstanding BNSF debt.
However, BNSF may not have adequately shopped itself around before entering into this transaction and, pursuant to this proposed transaction, Berkshire Hathaway may be underpaying for BNSF, thus unlawfully harming BNSF shareholders.
Harwood Feffer LLP 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 Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
If you own BNSF 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:
James G. Flynn, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212) 935-7400
Email: jflynn@hfesq.com
Website: http://www.hfesq.com
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