Posted by: youngragingbull | February 14, 2013

Buffett & 3G Capital to acquire Heinz for $28B

H.J. Heinz Co., the food company well known for its ketchup, said on Thursday it has agreed to be acquired by Warren Buffett’s Berkshire Hathaway and 3G Capital in a deal valued at $28 billion.

Heinz shareholders will receive $72.50 per share in cash, which is a 20% premium to Heinz’s closing price of $60.48 on Feb. 13.

The deal will be financed through a combination of cash provided by Berkshire Hathaway and affiliates of 3G Capital, rollover of existing debt, as well as debt financing that has been committed by J.P. Morgan and Wells Fargo.

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