(The following story by Alex Crippen appeared at CNBC.com on January 4, 2010.)
NEW YORK — A colorful 8-page brochure is being mailed by Burlington Northern Santa Fe to its shareholders, urging them to vote for the freight railroad’s proposed acquisition by Warren Buffett’s Berkshire Hathaway.
A copy is included in a filing with the SEC.
The cover features a photograph of BNSF Chairman & CEO Matthew Rose, with Buffett standing behind him. Both men are smiling. Underneath, in orange: “We Need Your Support.”
In a letter to shareholders in the brochure, Rose urges them to “vote FOR approval of the acquisition TODAY … If you do not vote, it will have the same effect as a vote against the transaction.”
In a Q&A section, the brochure quotes Buffett on why Berkshire wants to acquire BNSF:
“Our country’s future prosperity depends on its having an efficient and well-maintained rail system. Conversely, America must grow and prosper for railroads to do well. Berkshire’s $34 billion investment in BNSF is a huge bet on that company, CEO Matt Rose and his team, and the railroad industry. Most important of all, however, it’s an all-in wager on the economic future of the United States. I love these bets.”
BNSF has scheduled a special meeting of shareholders for February 11 to vote on the deal.