Berkshire Hathaway Selling Part of Verisign Stake
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BERKSHIRE Hathaway sold about one-third of its stake in VeriSign, an internet infrastructure and domain name registry company that Warren Buffett’s conglomerate has invested in since 2012, VeriSign said on Monday.
The blockbuster deal raises the odds that Buffett’s Berkshire Hathaway, which owns the Burlington Northern Santa Fe railroad, will reach a deal with CSX to create a second transcontinental railroad. Union Pacific and BNSF compete in the western U.S., while CSX and Norfolk Southern are the two big Eastern railroads.
Berkshire Hathaway stock has been in a funk since the company’s May 3 annual meeting, when CEO Warren Buffett said he would step down as CEO at the end of the year. That has created an opportuni
Berkshire Hathaway is a resilient investment with strong cash reserves, defensive value, and growth potential. Click here to read an analysis of BRK.A stock now.
Acquiring CSX would be expensive for Berkshire, but it would still be accretive to its earnings, one analyst calculated.
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