Condiment maker HJ Heinz Company announced Thursday that it had been purchased by a joint partnership between star investor Warren Buffet's Berkshire Hathaway and 3G Capital.
Under the deal, approved by the board, Heinz shareholders are to
receive 72.50 dollars per share in the buyout, which would value
Heinz at 28 billion dollars. The proposed price per share represents
a 20-per-cent premium over the company's closing price of 60.48
dollars per share on Wednesday.
"The Heinz brand is one of the most respected brands in the global
food industry and this historic transaction provides tremendous value
to Heinz shareholders," said Heinz chairman, president and chief
executive William R Johnson, noting the company has enjoyed strong
growth and would be able to add value as a privatized company.
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Heinz Ketchup Company to Be Acquired
February 14, 2013
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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH
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