NEW YORK (AP) - H.J. Heinz Co. says it agreed to be acquired by an investment consortium including billionaire investor Warren Buffett in a deal valued at $28 billion.
The ketchup company said Heinz shareholders will receive $72.50 in cash for each share of common stock they own. The deal value includes the assumption of Heinz's debt. Based on Heinz's number of shares outstanding, the deal is worth $23.3 billion excluding debt.
The per share price represents a 20 percent premium to Heinz's closing price of $60.48 on Wednesday.
Berkshire Hathaway and 3G Capital say Heinz will remain headquartered in Pittsburgh.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Current Conditions
Weather for Lexington, Kentucky
Opinion
Most Viewed
- MSU student killed in car crash
- Funeral arrangements set for Estill County teen
- Two $1 million Powerball tickets sold in Kentucky
- Winning numbers drawn in Powerball jackpot
- Candle factory destroyed by fire in Casey County
- Police release name of man killed in Owsley County shooting
- Lexington restaurant closed by Health Department
- One killed, another airlifted after shots fired in Owsley County
- Officials arrest two in Scott County for criminal abuse
- Northern Kentucky sheriff making big changes
Most Commented
powered by Disqus
Enter your number for a chance to win great prizes! Message and data rates may apply 
|
