Author Topic: Warren Buffet, 3G to buy Heinz for $23B  (Read 555 times)

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Offline mystery-ak

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Warren Buffet, 3G to buy Heinz for $23B
« on: February 14, 2013, 11:50:52 AM »
http://www.chicagotribune.com/business/breaking/chi-warren-buffet-3g-to-buy-heinz-for-23b-20130214,0,3315461.story

Warren Buffet, 3G to buy Heinz for $23B


Reuters

7:17 a.m. CST, February 14, 2013
Warren Buffett's Berkshire Hathaway Inc and 3G Capital will buy H.J. Heinz Co.for $72.50 a share, or $23.2 billion in cash, Heinz said on Thursday.

Including debt assumption, Heinz valued the deal at $28 billion, which it called the largest in food industry history.

Heinz said the deal would be financed with cash from Berkshire and 3G, debt rollover and debt financing from J.P. Morgan and Wells Fargo.

The company did not elaborate on what portion of the cash would be contributed by Berkshire and what portion would come from 3G. CNBC reported that each side would put up $4.5 billion cash as part of the purchase.

"It's my kind of deal and it's my kind of partner," Buffett told CNBC, adding that Berkshire and 3G would be equal equity partners.

Heinz shares soared 19 percent in premarket trading.

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Offline mystery-ak

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Re: Warren Buffet, 3G to buy Heinz for $23B
« Reply #1 on: February 14, 2013, 11:54:20 AM »

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