Thursday, February 14, 2013

Heinz bought by Warren Buffett's Berkshire Hathaway for $28bn

From the BBC: US billionaire Warren Buffett is set to buy food giant Heinz in a deal worth $28bn (£18bn).  Mr Buffett's Berkshire Hathaway company and private equity firm 3G have agreed to take over the food company, famous for its ketchup and baked beans.

In a statement, Heinz called the deal "historic", and the largest to date in the food industry.  Shares in Heinz soared in early trading in New York. They rose nearly 20% to more than $72 a share.  The takeover has been approved by the company's board, but still needs to be voted on by shareholders...

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