3G Capital, Berkshire Hathaway to Chow Down with Heinz
February 15, 2013
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Berkshire Hathaway and 3G Capital have entered into a definitive agreement to acquire food company H.J. Heinz (NYSE: HNZ). The investment consortium intends to pay $72.50 in cash per share in a transaction valued at $28 billion, including the assumption of Heinz's outstanding debt. The transaction will be financed through a combination of cash provided by Berkshire Hathaway and 3G Capital, rollover of existing debt and debt financing committed by JP Morgan and Wells Fargo. Heinz, headquartered in Pittsburgh, specializes in ketchup, sauces, meals, soups, snacks and infant nutrition.
