M&T Bank to buy Partners Trust for $555 mln

(Reuters) - Partners Trust is the parent of Partners Trust Bank. It
operates branches in six upstate counties, and has about $2.3
billion each of deposits and loans, Buffalo-based M&T said.




The transaction is expected to close within six months. M&T
has $57.9 billion of assets and more than 650 branches in seven
mid-Atlantic states and Washington, D.C. Warren Buffett's
Berkshire Hathaway Inc. is among its top
shareholders.



Read more at Reuters.com Mergers News

Union Pacific, Buffett, Icahn Win as Soaring Oil Drives Rail Renaissance

(Bloomberg) -- Nobody likes the rising price of oil
better than U.S. railroads.

As the cost of crude soars, rail is gaining a competitive
edge after losing ground to trucks for half a century. Even as
automotive plant closings and reduced U.S. housing construction
have contributed to a 4.4 percent drop in train shipments this
year, investors including Warren Buffett and Carl Icahn are
flocking to railroad shares, betting that higher oil prices and
surging Asian imports along with congested highways will boost
long-term demand.


Read more at Bloomberg Exclusive News