BNSF’s Rose: Berkshire Deal ‘Warmly Received’ in Capital

The head of BNSF Railway said he has shopped the planned acquisition by Warren Buffett’s Berkshire Hathaway among U.S. policymakers in Washington, D.C., and gotten a favorable response.

Matthew K. Rose, the railroad’s chairman, president and CEO, made his remarks in a message to employees that was posted to BNSF’s intranet communications system and filed with the Securities and Exchange Commission.

Rose said he met in Washington Nov. 5 “with many of our public policy makers, Department of Transportation, many of the senators and House members who are involved in transportation policy.” The result, he said, is that “this transaction is really being very warmly received.”

He said the reason for the warm embrace of Berkshire’s $26 billion buyout to take BNSF private “is that Berkshire has a tremendous track record of buying well-run, well-maintained companies and leaving them alone in order for them to fulfill their mission. And it also helps to have . . . probably the most significant business icon, Warren Buffett, leading this effort.”

Rose noted that he had visited Washington when BNSF was trying to merge with Canadian National Railway, before they gave up the effort in July 2000, and contrasted the reception the two proposed deals received. “All I can tell you is, ‘Wow, what a difference it makes.’ ”

He pledged to keep BNSF employees informed with regular messages about the deal, which is expected to close early in 2010 pending a Justice Department review and shareholder approvals. However, he told them that “over the next several weeks there will not be much going on.”

For the SEC filing, click here .

Contact John D. Boyd at jboyd@joc.com.