From Reuters

Union Pacific says Buffett, BNSF deal good for rails

* Execs says Berkshire move to buy BNSF "positive"
* Sees no material impact on itself

* Union Pacific shares down 0.5 percent

SEATTLE, Nov 4 (Reuters) - Union Pacific Corp (UNP.N) executives said a move by Warren Buffett's Berkshire Hathaway Inc (BRKa.N) (BRKb.N) to buy its rival Burlington Northern Santa Fe Corp (BNI.N) was a "strong positive statement" for the industry.

But the deal will have "no material impact either way" on Union Pacific, company executives said during a Goldman Sachs conference on Wednesday.

Berkshire held a 1.9 percent stake in Union Pacific, according to Thomson Reuters data. The small size of the holding was not expected to attract regulatory scrutiny and Buffett has said he was not interested in buying Union Pacific.

The deal to buy BNSF -- the billionaire investor's biggest acquisition -- was unveiled a day earlier. The news has refreshed interest in the sector, and some analysts said it could bring fresh money into it.