Berkshire Hathaway Joins S&P 500 - TheStreet

OMAHA, Neb. (

TheStreet

) --

Berkshire Hathaway

(BRK.B) - Get Report

will be added to

S&P 500

, replacing

Burlington Northern Santa Fe

(BNI)

, the company Berkshire is acquiring.

The announcement, widely expected, follows the 50-to-1 stock split of Berkshire's Class B shares that was approved by shareholders last week. The stock split gave Berkshire enough liquidity to meet S&P's standards.

Berkshire will account for about 1.1% of S&P 500's overall market cap, S&P senior index analyst Howard Silverblatt told the

Wall Street Journal

.

Burlington shareholders are expected to vote on the

Berkshire offer

in the first few weeks of February.

Berkshire's Class B shares rose $5.59, or 8.2%, to $73.59 in after-hours trading Tuesday.