Friday, February 15, 2013

The Real Winner in the Berkshire Heinz Deal

Re: HuffPo  Secretary of State John Kerry may have just scored a huge windfall thanks to Warren Buffett.

Buffett’s Berkshire Hathaway and 3G Capital announced Thursday that they are buying Heinz ketchup Co. for $23.3 billion. As part of the deal, the firms agreed to pay a per-share price that’s 20 percent more than the stock’s closing price on Wednesday.

That’s great news for Kerry, who at last check owned $3 million worth of shares in Heinz and could make hundreds of thousands of dollars off of the sale, according to the New York Times. Kerry's connection to Heinz comes through his wife, Teresa Heinz Kerry, who is an heir to the Heinz fortune.

Kerry and his wife agreed to pull their money out of nearly 100 investments that could represent a conflict of interest in his job as secretary of state, according to the Boston Globe. They kept their investments in Heinz, though Kerry did agree to recuse himself from certain matters involving the company….

Read all about it at

No comments:

Post a Comment