Warren Buffett said Berkshire Hathaway is "not in the market to buy another railroad," ending weeks of speculation that the conglomerate’s BNSF Railway might bid for CSX Corp. In an interview with CNBC on Monday, the billionaire investor confirmed that no acquisition talks are under way and that the company’s focus remains on operating its existing freight network. CSX shares slid roughly 5% after the remarks, while Union Pacific and Norfolk Southern also traded lower. Berkshire’s Class B stock edged down about 1%. The pullback followed a rally in July, when takeover rumors lifted CSX by almost 9%. Buffett and Berkshire vice chair Greg Abel met privately with CSX Chief Executive Officer Joseph Hinrichs in Omaha on Aug. 3. According to Buffett, the gathering was aimed at exploring operational cooperation—not a merger—and he made clear that Berkshire would not submit a bid. The companies deepened that collaboration last week, unveiling a coast-to-coast intermodal service designed to speed freight shipments without the cost and regulatory hurdles of a full combination. Talk of a Berkshire-CSX deal intensified after Union Pacific proposed an $85 billion takeover of Norfolk Southern last month, stirring expectations of broader consolidation across the U.S. rail sector. Buffett’s public rejection of a purchase puts fresh pressure on CSX’s board, which activist investor Ancora Holdings has urged to pursue strategic alternatives, including a sale.