Warren Buffett’s company has sold two short-line railroads it recently discovered it owned to satisfy regulators who might have reviewed Berkshire Hathaway’s 2010 acquisition of the BNSF Railway.
Berkshire told the Transportation Department’s Surface Transportation Board earlier this month that it had completed the sale of both short-line railroads ahead of schedule.
If Berkshire had reported owning those railroads when it bought BNSF, the Surface Transportation Board would have had to scrutinize the deal. Berkshire first disclosed owning the railroads to the Surface Transportation Board in September.
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