The final table of the World Series of Poker is still a week away, but Warren Buffett is going all-in now – with a bet on the U.S. economy.

Buffett, chairman and CEO of Berkshire Hathaway Inc., announced today the acquisition of 77.4 percent of outstanding Burlington Northern Santa Fe Corp. (BNSF) shares, to increase his company’s holdings to 100 percent. Read the release.

The transaction is valued at approximately $44 billion, including $10 billion in outstanding debt.

“Our country’s future prosperity depends on its having an efficient and well-maintained

rail system,” Buffett said in a release. “Conversely, America must grow and prosper for railroads to do well. Berkshire’s $34 billion investment in BNSF is a huge bet on that company, CEO Matt Rose and his team, and the railroad industry. Most important of all, however, it’s an all-in wager on the economic future of the United States. I love these bets.”

The deal has been approved by the boards of both companies, and would be the largest acquisition ever for Berkshire Hathaway, MSNBC.com reported today.

Berkshire Hathaway owns MidAmerican Energy Holdings Co., and according to the MSNBC.com report, the acquisition of the railroad could be a strategic acquisition for a company whose chairman came out vocally against climate change legislation that targets coal-fired power plants. The railroad goes through the Midwest and Pacific Northwest and is a major coal supply route for power plants.

Buffett’s company also owns shares in Burlington Northern Santa Fe’s rival Union Pacific Corp., but he said in a Reuters.com report that he was not interested in buying the rest of Union Pacifica and expects the companies to remain rivals for the next 50 years.