Severe weather looks likely later this afternoon. The best chances appear to be between 3 p.m. and Midnight. Damaging winds, large hail, heavy rain, and an isolated tornado or two are possible. The area at the greatest risk for severe weather in eastern Kentucky is in the Cumberland Valley, near the I-75 corridor. Keep it locked here for updates.
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.
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