巴菲特260亿美元收购美国铁路运营商

Warren Buffett yesterday struck the biggest deal of his life with the $26bn purchase of Burlington Northern Santa Fe, one of the largest US railroad operators, in what the billionaire investor called an “all-in wager” on America's economic future.

沃伦•巴菲特(Warren Buffett)昨日做成了他有生以来最大的一笔交易，用260亿美元收购了美国最大的铁路运营商之一BNSF(Burlington Northern Santa Fe)。这位身价亿万的投资者称此举是对美国经济前景的“全盘下注”。

The cash-and-shares deal by Mr Buffett's Berkshire Hathaway, which already has a 22.6 per cent stake in BNSF, caps a long search by the legendary investor for an “elephant” deal to deploy his vast cash pile.

巴菲特旗下的伯克希尔哈撒韦公司(Berkshire Hathaway)此前已经拥有BNSF 22.6%的股权。这笔现金加股票交易，将会为这位传奇投资者物色“大象级”交易、以配置其巨额现金的漫长过程划上句号。

The takeover deepens Mr Buffett's exposure to the US- focused old economy sectors that have long been the backbone of his empire alongside financial services, and underlines his confidence in a rebound in domestic growth.

此次收购加深了巴菲特对面向美国的老经济部门的投资，突显其对美国经济增长反弹的信心。美国的老经济部门与金融服务业一直构成巴菲特帝国的主要投资。

“America's best years lie ahead, no question about it,” Mr Buffett told CNBC after the deal, which values Texas-based BNSF at $44bn, including $10bn of debt and the value of the stake Berkshire had accumulated since 2007.

“美国的最美好时代还在未来，这一点毫无疑问，”巴菲特在交易公布后对CNBC表示。这笔交易对德克萨斯州BNSF的估值为440亿美元，其中包括100亿美元的债务和伯克希尔自2007年以来累积的股份价值。

After a few overseas purchases prior to the crisis, Mr Buffett refocused on the US during the turmoil, buying into then-ailing corporate icons like General Electric and Goldman Sachs and urging Americans to purchase US shares.

在危机前的几宗海外收购之后，巴菲特在金融危机期间将目光重新转向美国。他买入通用电气(General Electric)和高盛(Goldman Sachs)等当时陷入困境的标杆企业股票，并敦促美国人购买本国股票。

Doug Kass, general partner at the hedge fund Seabreeze Partners Management and a former Berkshire shareholder, said the BNSF takeover could be a defining moment for the 79-year-old investor.

对冲基金Seabreeze Partners Management普通合伙人、伯克希尔哈撒韦公司前股东道格•卡斯(Doug Kass)表示，收购BNSF的交易可能是这位79岁投资者的决定性时刻。

“Considering the size, this could be Mr Buffet's coup de grace on the deal world. And it's going to take a while to absorb it. I think it's his last meaningful deal,” he said.

他表示：“从这笔交易的规模看，这可能是巴菲特在交易界决定性的一击。需要一段时间来消化。我认为这是他最后一笔有意义的交易。”

Mr Buffett said that he would steer clear of large deals for some time but added that, even after paying for BNSF, Berkshire would have more than $20bn in cash.

巴菲特表示，他将在一段时间内避开大额交易，但补充表示，即使在购买了BNSF之后，伯克希尔仍将拥有200多亿美元的现金。

英国《金融时报》弗朗西斯科•格雷拉(Francesco Guerrera)、贾斯廷•巴尔(Justin Baer)纽约、罗伯特•赖特(Robert Wright)伦敦报道