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RAIL EMPLOYMENT



Rail News Home M&A

12/27/2007



Rail News: M&A

Buffett's Berkshire Hathaway to acquire major stake in Union Tank Car owner Marmon Holdings


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Warren Buffett soon will be a majority stakeholder in Union Tank Car Co. parent Marmon Holdings Inc. Buffett's Berkshire Hathaway recently announced plans to purchase 60 percent of Marmon Holdings, a private firm owned by trusts associated with Chicago's Pritzker family, for $4.5 billion.

The deal is expected to close in first-quarter 2008. During the next five to six years, Berkshire Hathaway plans to acquire Marmon's remaining 40 percent stake through staged acquisitions.

Marmon Holdings' Marmon Group L.L.C. owns more than more than 125 manufacturing firms and service providers in the transportation, engineered products, wire and cable, distribution, construction, water treatment equipment, retail, and highway, industrial and flow products industries. Transportation-related holdings include Railserve Inc., Intermodal Transfer L.L.C., WCTU Railway Co. and Union Tank Car.

Berkshire Hathaway currently owns significant stakes in BNSF Railway Co., Norfolk Southern Corp. and Union Pacific Railroad.


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