Buffet to buy Heinz Ketchup

Comment on this story
WarrenBuffet REUTERS Warren Buffett.

Washington - 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. - Sapa-dpa

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines