OMAHA, Neb. (AP) — Warren Buffett’s company has lined up an $8 billion loan to help pay for its $26.3 billion acquisition of Burlington Northern Santa Fe Corp.
According to documents filed from Berkshire Hathaway Inc. with the Securities and Exchange Commission Thursday, it signed the financing deal with JPMorgan Chase and Wells Fargo on Wednesday.
Buffett has said Berkshire, which is based in Omaha, plans to borrow half of the $16 billion cash needed for the deal, and pay back the loan over three years.
Berkshire has agreed to pay $100 a share in cash and stock for all the Burlington Northern shares it doesn’t own. Berkshire holds a 23 percent stake in the railroad, which is based in Ft. Worth, Texas, and has rails in Wisconsin.
The deal is expected to be completed early next year if shareholders and regulators approve.