classical academic understanding of factor models
Evensky & Katz
Harold Evensky
Berkshire Hathaway Inc. agreed to acquire the 77% of Burlington Northern Santa Fe Corp. it doesn't already own for about $26 billion in cash and stock.
The deal values all of the railroad holding company at $34 billion.
Berkshire Chairman and Chief Executive Warren Buffett, said the $100 a share he offered was "all I could pay." He structured the deal as 60% in cash and the rest in stock because "we couldn't do an all-cash deal," he said in an interview. Mr. Buffett said he was loath to part with Berkshire shares but that doing so was "necessary to ...