(Reuters) -Berkshire Hathaway is not in the market to buy a train company, CEO Warren Buffett said to CNBC on Monday.
The news comes weeks after reports on Berkshire-owned BNSF being in talks to acquire CSX Corp to create a transcontinental railroad.
Shares of CSX fell about 4.5% after the news.
Last week, CSX and BNSF announced a new coast-to-coast service.
U.S. railroad leader Union Pacific and Norfolk Southern last month announced a $85 billion merger proposal, fueling speculation that more mergers in the industry could follow.
BNSF and CSX did not immediately respond to Reuters requests for comment.
(Reporting by Nathan Gomes in Bengaluru; Editing by Shreya Biswas and Alan Barona)
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