S&P said tonight that Warren Buffett's Berkshire Hathaway will replace Burlington Northern Santa Fe in both the S&P 500 and the S&P 100.
Berkshire is acquiring BNSF in a deal expected to close next month.
Berkshire B shares were up 8 percent in after-hours trading minutes after the news hit .. rising to $73.50 from today's 4p ET close of $68.06. Buffett recently split the shares 50 for 1.
The higher-priced Class A shares were up 5 percent to $107,000 from today's 4p ET close of $102,010.
The big index funds that try to mimic the returns of the S&P 500 will now need to buy Berkshire Class B shares.
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