Yesterday, Berkshire Hathaway Inc. shareholders approved a 50-for-one split of the investment firm’s Class B shares, helping advance Warren Buffett’s acquisition of Burlington Northern Santa Fe Corp. Berkshire’s higher-priced Class A shares will not be split.

The stock split will help make shares more affordable as part of the $26.3 billion buyout. Berkshire will pay $100 in cash and certain stock for each outstanding BNSF share it doesn’t currently own, or about 77.4 percent of all stock. The split pares the partial shares Berkshire will issue to BNSF investors and makes the transaction easier for small investors, according to Berkshire.

BNSF shareholders will vote on the buyout at a Feb. 11 meeting in Fort Worth, Texas. Berkshire and BNSF still expect to close the deal in the first quarter.

For more information and context on the deal, follow this link to read the cover story (“Buffett & BNSF”) in Progressive Railroading’s January issue.