As much as I'd enjoy a transaction that left Berkshire Hathaway/BNSF with 2/3 to 3/4 of the resulting company and in turn resulted in any activist investor being point blank told "We own a supermajority of this company; if you don't like your returns on this investment, find another", I agree that they'd want an all-cash transaction. That being said, I wonder if there aren't some parts (or sets of rights) that could be split off to CN, CP, NS, or even state agencies as part of a deal playing out?