Berkshire Buys Heinz For $28 Billion

By: Jim Siedlecki Email
By: Jim Siedlecki Email

You can squeeze in another high-profile company under the umbrella for Warren Buffett's Berkshire Hathaway. They have combined with private equity firm 3G Capital to purchase H.J. Heinz Company.

Under the terms of the agreement, which has been unanimously approved by Heinz’s Board of Directors, Heinz shareholders will receive $72.50 in cash for each share of common stock they own, in a transaction valued at $28 billion, including the assumption of Heinz’s outstanding debt. The per share price represents a 20% premium to Heinz’s closing share price of $60.48 on February 13, 2013, a 19% premium to Heinz’s all-time high share price, a 23% premium to the 90-day average Heinz share price and a 30% premium to the one-year average share price.


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