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NEW YORK (AFP) –
Shares of Berkshire Hathaway rose Friday as billionaire Warren Buffett's holding company was integrated into the Standard & Poor's 500 index and was set to finalize its big rail acquisition.
Shares in Berkshire rose 0.56 percent in early trade to 77.12 dollars.
The holding company controlled by Buffett, one of the world's richest men, was set to finalize its 26.3 billion dollar deal to take over the remaining shares of Burlington Northern Santa Fe, one of the largest rail operators in North America.
Buffett had announced "an all-in wager on the economic future of the United States" when Berkshire Hathaway said three months ago it would purchase the 77.4 percent of BNSF that it did not currently own for 100 dollars per share in cash and stock.
A spokesman for S&P confirmed Berkshire had been integrated into the main index comprised of the 500 largest US firms. The change allows investors to more easily get a piece of Buffett's holdings and at the same time offers more liquidity to the group.
Berkshire's B shares will replace BNSF on the index.
