Burlington Northern Santa Fe Corp. investors owning about 70 percent of the company's shares voted to approve $26 billion acquisition by Warren Buffett's Berkshire Hathaway Inc., the railroad's chief executive officer revealed today.

Investors with about 41 percent of the railroad's stock voted in favour of taking $100 a share in cash in the deal, while 43 percent opted for stock in Buffett's company.

Burlington Northern Santa Fe Corp.'s firm management, competitive advantages and healthy cash position supported to the company's merger with Warren Buffett's investment Berkshire Hathaway Inc.

However, the concluding tally is reported to be formally announced later today, and the company hopes to conclude the deal around noon tomorrow, CEO Matt Rose said at a press conference today in Forth Worth, Texas, where the railroad is based.

"These are very long-lived assets and we think that by combining with Berkshire Hathaway, quite frankly will be very consistent with their idea of long-term ownership," Rose said today.

The railroad acquisition, which Buffett is funding with Berkshire shares, $8 billion of cash and $8 billion of new debt, reduces Berkshire's capital and liquidity and shows an increase in the company's "risk tolerances," S&P said last week.