Buffett-led Berkshire Hathaway to join S&P 500 index
New York: Legendary investor Warren Buffett-
led Berkshire Hathaway will replace Burlington Northern Santa
Fe in two of index provider Standard and Poor's bellwether
indices -- S&P 500 and S&P 100.
The replacement is taking place due to Berkshire
Hathaway's acquisition of Burlington Northern Santa Fe in a
deal expected to close next month, S&P said in a statement.
"Berkshire Hathaway Inc will replace Burlington Northern
Santa Fe Corp in the S&P 100 and S&P 500 indices on a date
to be announced," the statement said.
Berkshire Hathaway, primarily engaged in the property
and casualty insurance and reinsurance business, would be
added to the S&P 500 GICS (Global Industry Classification
Standard) Property & Casualty Insurance Sub-Industry index.
The S&P 500 index, regarded as one of best gauge of
large cap US equities, includes 500 major companies in
leading industries of the economy, capturing 75 per cent
coverage of US equities.