Update Burlington Northern (BNI)
11/09/2009 2:30 pm EST
Unless you've been asleep since Novembr 2, you know that on November 3 Warren Buffett offered to buy railroad Burlington Northern (BNI), a member of the Jubak Picks 50 portfolio, for $100 a share in cash and Berkshire Hathaway stock. I don't anticipate that a rival offer will emerge: This is a friendly deal and Buffett already owns 22.6% of the railroad.
I will replace this stock in the Jubak Picks 50 portfolio in December when I do my annual update of that list.
Most likely candidates?
At this point, the two transcontinental Canadian railroads, Canadian Pacific (CP) and Canadian National Railway (CNI).