Wolf Haldenstein Investigates Burlington Northern Santa Fe Corp. Proposed Acquisition
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Tue, 03 Nov 2009 17:54:01 GMT |
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Wolf Haldenstein Adler Freeman & Herz LLP
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Press Release |
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NEW YORK - (Business Wire) Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Burlington Northern Santa Fe Corp. (“Burlington” or the “Company”) (NYSE:BNI) arising out of the proposed acquisition of Burlington by Berkshire Hathaway, Inc. (“Berkshire”). On Tuesday, November 3, 2009, Burlington and Berkshire announced that Berkshire will acquire the remaining 77.4% of Burlington shares it does not already own in a cash and stock offer valued at approximately $44 billion. Under the terms of the agreement, the Company’s stockholders will either receive cash of $100 or a variable number of shares of Berkshire Class A or Class B common stock, subject to proration if the elections of the shareholder do not equal approximately 60 percent in cash and 40 percent in stock in exchange for each share of Burlington common stock. However, the Company may not have adequately shopped itself around before entering into this transaction and, pursuant to this proposed transaction, Berkshire may be underpaying for Burlington, thus unlawfully harming Burlington shareholders. Wolf Haldenstein 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 Wolf Haldenstein website (http://www.whafh.com) for more information about the firm. If you own Burlington 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: | Gustavo Bruckner or Derek Behnke | | Wolf Haldenstein Adler Freeman & Herz LLP | | 270 Madison Avenue | | New York, New York 10016 | | Phone Numbers: | (800) 575-0735 | | | | | | (212) 545-4600 | | | | | | Website: http://www.whafh.com | | Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome. | Wolf Haldenstein Adler Freeman & Herz LLP Gustavo Bruckner or Derek Behnke 800-575-0735 or 212-545-4600 bruckner@whafh.com Classmember@whafh.com
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